Document ID: chunk:federal_register_of_legislation:F2021C00879:body:0:p3
Version: federal_register_of_legislation:F2021C00879
Segment Type: other
Provision Reference: 
Character Range: 5873–8840

Australian Accounting Standards and Statement of Accounting Concepts SAC 1 Definition of the Reporting Entity also applies.  For-profit entities applying the Conceptual Framework for Financial Reporting are set out in paragraph Aus1.1 of the Conceptual Framework.

Scope
2 This Standard shall apply to:
(a) the separate or individual financial statements of an entity:
(i) whose ordinary shares or potential ordinary shares are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets) or
(ii) that files, or is in the process of filing, its financial statements with a securities commission or other regulatory organisation for the purpose of issuing ordinary shares in a public market; and
(b) the consolidated financial statements of a group with a parent:
(i) whose ordinary shares or potential ordinary shares are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets) or
(ii) that files, or is in the process of filing, its financial statements with a securities commission or other regulatory organisation for the purpose of issuing ordinary shares in a public market.
3 An entity that discloses earnings per share shall calculate and disclose earnings per share in accordance with this Standard.
4 When an entity presents both consolidated financial statements and separate financial statements prepared in accordance with AASB 10 Consolidated Financial Statements and AASB 127 Separate Financial Statements respectively, the disclosures required by this Standard need be presented only on the basis of the consolidated information. An entity that chooses to disclose earnings per share based on its separate financial statements shall present such earnings per share information only in its statement of comprehensive income. An entity shall not present such earnings per share information in the consolidated financial statements.
4A If an entity presents items of profit or loss in a separate statement as described in paragraph 10A of AASB 101 Presentation of Financial Statements, it presents earnings per share only in that separate statement.

Definitions
5 The following terms are used in this Standard with the meanings specified:
 Antidilution is an increase in earnings per share or a reduction in loss per share resulting from the assumption that convertible instruments are converted, that options or warrants are exercised, or that ordinary shares are issued upon the satisfaction of specified conditions.
 A contingent share agreement is an agreement to issue shares that is dependent on the satisfaction of specified conditions.
 Contingently issuable ordinary shares are ordinary shares issuable for little or no cash or other consideration upon the satisfaction of specified conditions in a contingent share agreement.
 Dilution is a reduction in earnings per share or an increase in loss