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AASB Standard  AASB 2023-1
               June 2023

Amendments to Australian Accounting Standards – Supplier Finance Arrangements
[AASB 7 & AASB 107]

Obtaining a copy of this Accounting Standard
This Standard is available on the AASB website: www.aasb.gov.au.

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COPYRIGHT
© Commonwealth of Australia 2023
This 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 Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
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ISSN 1036-4803

Contents

Preface
Accounting Standard
AASB 2023-1 Amendments to Australian Accounting Standards – Supplier Finance Arrangements

from page
Objective 5
Application 5
Amendments to AASB 107 5
Amendments to AASB 7 6
Commencement of the legislative instrument 7

aVailable on the AASB website

IASB Implementation guidance – Amendments
IASB Bases for Conclusions – Amendments

Australian Accounting Standard AASB 2023-1 Amendments to Australian Accounting Standards – Supplier Finance Arrangements is set out on pages 5–7. All the paragraphs have equal authority.

Preface

Standards amended by AASB 2023-1
This Standard makes amendments to AASB 107 Statement of Cash Flows (August 2015) and AASB 7 Financial Instruments: Disclosures (August 2015).
These amendments arise from the issuance of International Financial Reporting Standard Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) by the International Accounting Standards Board (IASB) in May 2023.

Main features of this Standard

     Main requirements
This Standard amends AASB 107 and AASB 7 to require an entity to provide additional disclosures about its supplier finance arrangements. The additional information will enable users of financial statements to assess how supplier finance arrangements affect an entity's liabilities, cash flows and exposure to liquidity risk.
The amendments require an entity to disclose the terms and conditions of the arrangements, the carrying amount of the liabilities that are part of the arrangements, the carrying amounts of those liabilities for which the suppliers have already received payment from the finance providers, the range of payment due dates and the effect of non-cash changes.

     Application date
This Standard applies to annual periods beginning on or after