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AASB Standard                                        AASB 18
                                                     June 2024
Presentation and Disclosure in Financial Statements

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

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Victoria   8007
AUSTRALIA

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E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

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E-mail: standard@aasb.gov.au

COPYRIGHT

© Commonwealth of Australia 2024

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
Comparison with IFRS 18
Accounting Standard
AASB 18 Presentation and Disclosure in Financial Statements

from paragraph
Objective 1
SCOPE 2
GENERAL REQUIREMENTS FOR FINANCIAL STATEMENTS
Objective of financial statements 9
A complete set of financial statements 10
The roles of the primary financial statements and the notes 15
    Information presented in the primary financial statements or disclosed in the notes 19
    Information presented in the primary financial statements 21
Identification of the financial statements 25
Frequency of reporting 28
Consistency of presentation, disclosure and classification 30
Comparative information 31
    Change in accounting policy, retrospective restatement or reclassification 33
AGGREGATION AND DISAGGREGATION
Principles of aggregation and disaggregation 41
Offsetting 44
STATEMENT OF PROFIT OR LOSS 46
Categories in the statement of profit or loss 47
    Entities with specified main business activities 49
    The operating category 52
    The investing category 53
    The financing category 59
    The income taxes category 67
    The discontinued operations category 68
Totals and subtotals to be presented in the statement of profit or loss 69
Items to be presented in the statement of profit or loss or disclosed in the notes 75
    Presentation and disclosure of expenses classified in the operating category 78
STATEMENT PRESENTING COMPREHENSIVE INCOME 86
Other comprehensive income 88
STATEMENT OF FINANCIAL POSITION
Classification of assets and liabilities as current or non-current 96
    Current assets 99
    Current liabilities 101
Items to be presented in the statement of financial position or disclosed in the notes 103
STATEMENT OF CHANGES IN EQUITY
Information to be presented in the statement of changes in equity 107
Information to be presented in the statement of