Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p144
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
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Character Range: 401324–404258

and AASB 108 are amended. Paragraphs 14 and A4 are amended and paragraph B1A is added. New text is underlined and deleted text is struck through.

References
• AASB 101 Presentation of Financial Statements
• AASB 108 Basis of Preparation of Financial StatementsAccounting Policies, Changes in Accounting Estimates and Errors
• AASB 110 Events after the Reporting Period
• AASB 112 Income Taxes
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Consensus
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Changes in facts and circumstances
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14 An entity shall reflect the effect of a change in facts and circumstances or of new information as a change in accounting estimate applying AASB 108 Basis of Preparation of Financial StatementsAccounting Policies, Changes in Accounting Estimates and Errors. An entity shall apply AASB 110 Events after the Reporting Period to determine whether a change that occurs after the reporting period is an adjusting or non‑adjusting event.
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Appendix A
Application Guidance
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Disclosure
A4 When there is uncertainty over income tax treatments, an entity shall determine whether to disclose:
(a) judgements made in determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates applying paragraph 27G of AASB 108122 of AASB 101 Presentation of Financial Statements; and
(b) information about the assumptions and estimates made in determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates applying paragraphs 31A–31E of AASB 108125–129 of AASB 101.
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Appendix B
Effective date and transition
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Effective date
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B1A AASB 18 Presentation and Disclosure in Financial Statements issued in June 2024 amended paragraphs 14 and A4. An entity shall apply those amendments when it applies AASB 18.

AASB Interpretation 107 Introduction of the Euro (August 2015)
Below the heading 'References', the references to AASB 101 and AASB 108 are amended. New text is underlined and deleted text is struck through.

References
• AASB 18 Presentation and Disclosure in Financial StatementsAASB 101 Presentation of Financial Statements
• AASB 108 Basis of Preparation of Financial StatementsAccounting Policies, Changes in Accounting Estimates and Errors
• AASB 110 Events after the Reporting Period
• AASB 121 The Effects of Changes in Foreign Exchange Rates

AASB Interpretation 110 Government Assistance – No Specific Relation to Operating Activities (August 2015)
Below the heading 'References', the reference to AASB 108 is amended. New text is underlined and deleted text is struck through.

References
• AASB 108 Basis of Preparation of Financial StatementsAccounting Policies, Changes in Accounting Estimates and Errors
• AASB 120 Accounting for Government Grants and Disclosure of Government Assistance

AASB Interpretation 125 Income Taxes – Changes in the Tax Status of an Entity or its Shareholders (August 2015)
Below the heading 'References', the references to AASB 101 and AASB 108 are