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Compiled AASB Standard  AASB 14

Regulatory Deferral Accounts

This compiled Standard applies to annual periods beginning on or after 1 January 2022.  Earlier application is permitted for annual periods beginning on or after 1 January 2005 but before 1 January 2022.  It incorporates relevant amendments made up to and including 20 December 2021.

Prepared on 7 April 2022 by the staff of the Australian Accounting Standards Board.

Compilation no. 2

Compilation date:  31 December 2021

Obtaining copies of Accounting Standards
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COPYRIGHT
© Commonwealth of Australia 2022
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 National Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.

All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

Comparison with IFRS 14
Accounting Standard
AASB 14 Regulatory Deferral Accounts

from paragraph
OBJECTIVE 1
Application Aus4.2
Commencement
Scope 5
Recognition, measurement, impairment and derecognition
Temporary exemption from paragraph 11 of AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors              9
Continuation of existing accounting policies 11
Changes in accounting policies 13
Interaction with other Standards 16
Presentation
Changes in presentation 18
Classification of regulatory deferral account balances 20
Classification of movements in regulatory deferral account balances 22
Disclosure
Objective 27
Explanation of activities subject to rate regulation 30
Explanation of recognised amounts 32
Appendices
A  Defined terms
B  Application guidance
C  Effective date and transition
COMPILATION DETAILS
DELETED IFRS 14 TEXT
BASIS FOR CONCLUSIONS
DISSENTING OPINION

AVAILABLE ON THE AASB WEBSITE
Illustrative examples
Basis for Conclusions on IFRS 14

Australian Accounting Standard AASB 14 Regulatory Deferral Accounts (as amended) is set out in paragraphs 1 – 36 and Appendices A – C.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  Terms defined in Appendix A are in italics the first time they appear in the Standard.  AASB 14 is to be read in the context of other Australian Accounting Standards, including AASB