Document ID: chunk:federal_register_of_legislation:F2023C00381:reg:25:p3
Version: federal_register_of_legislation:F2023C00381
Segment Type: reg
Provision Reference: reg 25 (pt 3/47)
Character Range: 24577–28729

affected  How affected  By … [paragraph/page]
 1                  amended       AASB 2019-1 [page 30]
 AusCF1             added         AASB 2019-1 [page 30]
 2                  amended       AASB 2019-1 [page 30]
                    amended       AASB 2020-2 [page 12]
                    amended       AASB 2022-4 [7]
 5                  amended       AASB 2019-1 [page 30]
                    amended       AASB 2020-2 [page 12]
                    amended       AASB 17 [page 83]
 5A                 added         AASB 17 [page 83]
                    amended       AASB 2022-8 [page 13]
 6                  amended       AASB 2015-9 [11]
                    amended       AASB 1058 [page 27]
                    amended       AASB 2019-1 [page 30]
                    amended       AASB 2020-2 [page 13]
 6A                 added         AASB 17 [page 83]
                    amended       AASB 2020-2 [page 13]
                    amended       AASB 2022-8 [page 13]
 7                  amended       AASB 2019-1 [page 31]
                    amended       AASB 2020-2 [page 13]
                    amended       AASB 1060 [page 68]
                    amended       AASB 2022-4 [7]
 8                  amended       AASB 2019-1 [page 31]
                    deleted       AASB 2020-2 [page 13]
 9                  amended       AASB 2015-9 [11]
                    amended       AASB 2019-1 [page 31]
                    amended       AASB 2020-2 [page 13]
 10                 amended       AASB 2020-2 [page 14]
 11                 amended       AASB 1058 [page 27]
 11A                added         AASB 17 [page 83]
                    amended       AASB 2022-8 [page 13]
 12                 amended       AASB 2019-1 [page 31]
                    amended       AASB 2020-2 [page 14]
                    amended       AASB 17 [page 83]
                    deleted       AASB 2022-8 [page 13]
 18                 amended       AASB 2019-1 [page 31]
                    amended       AASB 2020-2 [page 14]
 18A                added         AASB 2022-4 [7]
 20                 amended       AASB 2019-1 [page 31]
                    amended       AASB 2020-2 [page 14]
 20A                added         AASB 1058 [page 27]
 20B-20C            added         AASB 1060 [page 68]
 21                 deleted       AASB 2021-7 [46]
 22-24              amended       AASB 2019-1 [page 32]
                    amended       AASB 2020-2 [page 15]
 26                 amended       AASB 2019-1 [page 32]
                    amended       AASB 2020-2 [page 15]
                    amended       AASB 17 [page 83]
                    deleted       AASB 2022-8 [page 14]
 27                 repealed      Legislation Act 2003, s. 48D
Appendix            amended       AASB 2019-1 [page 32]
                    amended       AASB 2020-2 [page 16]

Basis for Conclusions

This Basis for Conclusions accompanies, but is not part of, AASB 1057.

BC1               This Basis for Conclusions summarises the Australian Accounting Standards Board's considerations in reaching the conclusions in AASB 1057 Application of Australian Accounting Standards.  Individual Board members gave greater weight to some factors than to others.
BC2               In 2005 when Australia transitioned to adopting International Financial Reporting Standards (IFRSs), Australian Accounting Standards (including Interpretations) were issued using IFRSs as a base.  Australian-specific paragraphs (labelled as 'Aus' paragraphs), including application paragraphs, were added to the IFRS text.  These application paragraphs identified, in each Standard, the entities and financial reports to which the Standard applied.  For example, most Standards apply explicitly to reporting entities and to general purpose financial statements.  Other minor amendments were also made to the IFRS text (eg Australian terminology and punctuation).
BC3               At its May 2015 meeting, the Board decided to revise Australian Accounting Standards that incorporate IFRSs to minimise Australian-specific wording even further.  Therefore, because IFRSs do not contain such application paragraphs,