Document ID: chunk:federal_register_of_legislation:F2024L00973:body:0:p2
Version: federal_register_of_legislation:F2024L00973
Segment Type: other
Provision Reference: 
Character Range: 3148–6184

with environmental, social and corporate governance (ESG) and similar features.
This Standard also amends disclosure requirements relating to investments in equity instruments designated at fair value through other comprehensive income and adds disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs.

     Application date
This Standard applies to annual periods beginning on or after 1 January 2026. Earlier application is permitted.

Accounting Standard AASB 2024-2
The Australian Accounting Standards Board makes Accounting Standard AASB 2024-2 Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments under section 334 of the Corporations Act 2001.
Keith Kendall
Dated 29 July 2024 Chair – AASB

Accounting Standard AASB 2024-2
Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments

Objective
This Standard amends AASB 7 Financial Instruments: Disclosures (August 2015) and AASB 9 Financial Instruments (December 2014) as a consequence of the issuance of International Financial Reporting Standard Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) by the International Accounting Standards Board in May 2024.

Application
The amendments set out in this Standard apply to entities and financial statements in accordance with the application of AASB 7 and AASB 9 set out in AASB 1057 Application of Australian Accounting Standards.
This Standard applies to annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted.
This Standard uses underlining, striking out and other typographical material to identify some of the amendments to AASB 7 and AASB 9 in order to make the amendments more understandable. However, the amendments made by this Standard do not include that underlining, striking out or other typographical material. Ellipses (…) are used to help provide the context within which amendments are made and also to indicate text that is not amended.

Amendments to AASB 7
Paragraphs 20B, 20C, 20D, 44LL and 44MM are added. For ease of reading these paragraphs have not been underlined. Paragraphs 11A and 11B are amended. New text is underlined and deleted text is struck through.

Significance of financial instruments for financial position and performance
 ...

Statement of financial position
 ...

Investments in equity instruments designated at fair value through other comprehensive income
11A If an entity has designated investments in equity instruments to be measured at fair value through other comprehensive income, as permitted by paragraph 5.7.5 of AASB 9, it shall disclose for each class of investment:
(a) ...
(c) the fair value of each such investment at the end of the reporting period.
(d) ...
(f) the fair value gain or loss presented in other comprehensive income during the period, showing separately the fair value gain or