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Compiled AASB Standard  AASB 7

Financial Instruments: Disclosures

This compiled Standard applies to annual periods beginning on or after 1 January 2024 but before 1 July 2026.  Earlier application is permitted for annual periods beginning after 24 July 2014 but before 1 January 2024.  It incorporates relevant amendments made up to and including 22 June 2023.

Prepared on 15 November 2023 by the staff of the Australian Accounting Standards Board.

Compilation no. 8

Compilation date:  31 December 2023

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COPYRIGHT
© Commonwealth of Australia 2023
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
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Contents

COMPARISON WITH IFRS 7
ACCOUNTING STANDARD
AASB 7 FINANCIAL INSTRUMENTS: DISCLOSURES

from paragraph
Objective 1
Scope 3
Classes of financial instruments and level of disclosure 6
Significance of financial instruments for financial position and performance 7
Statement of financial position
Categories of financial assets and financial liabilities 8
Financial assets or financial liabilities at fair value through profit or loss 9
Investments in equity instruments designated at fair value through other comprehensive income 11A
Reclassification 12B
Offsetting financial assets and financial liabilities 13A
Collateral 14
Allowance account for credit losses 16A
Compound financial instruments with multiple embedded derivatives 17
Defaults and breaches 18
Statement of comprehensive income
Items of income, expense, gains or losses 20
Other disclosures
Accounting policies 21
Hedge accounting 21A
The risk management strategy 22A
The amount, timing and uncertainty of future cash flows 23A
The effects of hedge accounting on financial position and performance 24A
Option to designate a credit exposure as measured at fair value through profit or loss 24G
Uncertainty arising from interest rate benchmark reform 24H
Additional disclosures related to interest rate benchmark reform 24I
Fair value 25
Nature and extent of risks arising from financial