Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p119
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 329226–332069

paragraph 45B. New text is underlined.

  1 When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.

AASB 129 Financial Reporting in Hyperinflationary Economies (August 2015)
Paragraphs 8 and 25 are amended and paragraph 42 is added. New text is underlined and deleted text is struck through.

The restatement of financial statements
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8 The financial statements of an entity whose functional currency is the currency of a hyperinflationary economy, whether they are based on a historical cost approach or a current cost approach, shall be stated in terms of the measuring unit current at the end of the reporting period. The corresponding figures for the previous period required by AASB 18 Presentation and Disclosure in Financial Statements AASB 101 Presentation of Financial Statements and any information in respect of earlier periods shall also be stated in terms of the measuring unit current at the end of the reporting period. For the purpose of presenting comparative amounts in a different presentation currency, paragraphs 42(b) and 43 of AASB 121 The Effects of Changes in Foreign Exchange Rates apply.
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Historical cost financial statements

Statement of financial position
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25 At the end of the first period and in subsequent periods, all components of owners' equity are restated by applying a general price index from the beginning of the period or the date of contribution, if later. The movements for the period in owners' equity are disclosed in accordance with AASB 18AASB 101.
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Effective date
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42 AASB 18 issued in June 2024 amended paragraphs 8 and 25. An entity shall apply those amendments when it applies AASB 18.

AASB 132 Financial Instruments: Presentation (August 2015)
Paragraphs 34, 39–41 and AG29 are amended and paragraph 97U is added. New text is underlined and deleted text is struck through.

Presentation
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Treasury shares (see also paragraph AG36)
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34 The amount of treasury shares held is either presented disclosed separately either in the statement of financial position or the statement of changes in equity or disclosed in the notes, in accordance with AASB 18 Presentation and Disclosure in Financial StatementsAASB 101 Presentation of Financial Statements. An entity provides disclosure in accordance with AASB 124 Related Party Disclosures if the entity reacquires its own equity instruments from related parties.

Interest, dividends, losses and gains (see also paragraph AG37)
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39 The amount of transaction costs accounted for as a deduction from equity in the period is presented in the statement of changes in equity or disclosed in the notes separately in accordance with AASB 18AASB 101.
40 Dividends classified as an expense may