Document ID: chunk:federal_register_of_legislation:F2023C00381:reg:25:p1
Version: federal_register_of_legislation:F2023C00381
Segment Type: reg
Provision Reference: reg 25 (pt 1/47)
Character Range: 18900–22248

25                    Interpretation 1038 Contributions by Owners Made to Wholly-Owned Public Sector Entities applies to public sector entities as follows:
(a)                   each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act and that is a reporting entity;
(b)                   general purpose financial statements of each other reporting entity; and
(c)                    financial statements that are, or are held out to be, general purpose financial statements.
26 [Deleted]

Commencement of the legislative instrument
27 [Repealed]

Appendix
Defined terms

This appendix is an integral part of AASB 1057.

general purpose financial statements  Financial statements that are intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs.
reporting entity                      An entity in respect of which it is reasonable to expect the existence of users who rely on the entity's general purpose financial statements for information that will be useful to them for making and evaluating decisions about the allocation of resources.  A reporting entity can be a single entity or a group comprising a parent and all of its subsidiaries.
                                      This reporting entity definition is not relevant to:
                                           (a) for-profit private sector entities that are required by legislation to prepare financial statements that comply with either Australian Accounting Standards or accounting standards;
                                           (b) other for-profit private sector entities that are required only by their constituting document or another document to prepare financial statements that comply with Australian Accounting Standards, provided that the relevant document was created or amended on or after 1 July 2021; and
                                           (c) other for-profit entities (private sector or public sector) that elect to prepare general purpose financial statements.

Compilation details
Accounting Standard AASB 1057 Application of Australian Accounting Standards (as amended)
Compilation details are not part of AASB 1057.
This compiled Standard applies to annual periods beginning on or after 1 January 2023 but before 1 July 2026. It takes into account amendments up to and including 15 December 2022 and was prepared on 6 February 2023 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB.  Instead, it is a representation of AASB 1057 (July 2015) as amended by other Accounting Standards, which are listed in the table below.

Table of Standards
Standard     Date made    FRL identifier  Commence-ment date  Effective date          Application, saving or transitional provisions
                                                              (annual periods
                                                              … on or after …)
AASB 1057    24 Jul 2015  F2015L01620     31 Dec 2015         (beginning) 1 Jan 2016  see (a) below
AASB 2015-9  11 Nov 2015  F2015L01832     31 Dec 2015         (beginning) 1 Jan 2016  see (a) below
AASB 1058    9 Dec 2016   F2017L00042     31 Dec 2018         (beginning)