Document ID: chunk:federal_register_of_legislation:F2025C00209:front:0:p25
Version: federal_register_of_legislation:F2025C00209
Segment Type: other
Provision Reference: 
Character Range: 73298–76611

description of the methods used to account for the investments in subsidiaries, joint ventures and associates,
     and shall identify the consolidated financial statements or other primary financial statements to which they relate.

     [IFRS for SMEs Standard paragraph 9.27]

Accounting Policies, Estimates and Errors[9]

Disclosure of a change in accounting policy
      1.                  Subject to paragraph 107, when initial application of an Australian Accounting Standard has an effect on the current period or any prior period, or might have an effect on future periods, an entity shall disclose the following:
           1.                    the nature of the change in accounting policy;
           2.                    for the current period and each prior period presented, to the extent practicable, the amount of the adjustment for each financial statement line item affected;
           3.                    the amount of the adjustment relating to periods before those presented, to the extent practicable; and
           4.                    an explanation if it is impracticable to determine the amounts to be disclosed in (b) or (c).
     Financial statements of subsequent periods need not repeat these disclosures.

     [Based on IFRS for SMEs Standard paragraph 10.13]

      1.                  Where an entity has selected a transition option under another Standard and there are specific transition disclosure requirements in that Standard, the entity shall apply the full transition disclosure requirements in that Standard instead of the requirements in paragraph 106.
     107A In the reporting period in which an entity first applies AASB 2020-8 Amendments to Australian Accounting Standards – Interest Rate Benchmark Reform – Phase 2, the entity is not required to disclose the information that would otherwise be required by paragraph 106(b) in respect of the accounting policy changes made in applying AASB 2020-8.
      1.                  When a voluntary change in accounting policy has an effect on the current period or any prior period, an entity shall disclose the following:
           1.                    the nature of the change in accounting policy;
           2.                    the reasons why applying the new accounting policy provides reliable and more relevant information;
           3.                    to the extent practicable, the amount of the adjustment for each financial statement line item affected, shown separately:
                1.                      for the current period;
                2.                    for each prior period presented; and
                3.                  in the aggregate for periods before those presented; and
           1.                    an explanation if it is impracticable to determine the amounts to be disclosed in (c).
     Financial statements of subsequent periods need not repeat these disclosures.

     [IFRS for SMEs Standard paragraph 10.14]

Disclosure of a change in estimate
      1.                  An entity shall disclose the nature of any change in an accounting estimate and the effect of the change on assets, liabilities, income and expense for the current period. If it is practicable for the entity to estimate the effect of the change in one or more future periods,