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Compiled AASB Standard  AASB 127

Separate Financial Statements

This compiled Standard applies to annual periods beginning on or after 1 January 2022.  Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2022.  It incorporates relevant amendments made up to and including 20 December 2021.

Prepared on 7 April 2022 by the staff of the Australian Accounting Standards Board.

Compilation no. 2

Compilation date:  31 December 2021

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: www.aasb.gov.au.
Australian Accounting Standards Board
PO Box 204
Collins Street West
Victoria   8007
AUSTRALIA
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

Other enquiries
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au

COPYRIGHT
© Commonwealth of Australia 2022
This compiled 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 National Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IAS 27
ACCOUNTING STANDARD
AASB 127 SEPARATE FINANCIAL STATEMENTS

from paragraph
Objective 1
Scope 2
Definitions 4
Preparation of separate financial statements 9
Disclosure 15
Effective date and transition 18
References to AASB 9 19
Withdrawal of IAS 27 (2008)
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus20.2
AppendiX
A  Australian simplified disclosures for Tier 2 entities
COMPILATION DETAILS
Deleted IAS 27 text

AVailable on the AASB website
Basis for Conclusions on IAS 27

Australian Accounting Standard AASB 127 Separate Financial Statements (as amended) is set out in paragraphs 1 – Aus20.2 and Appendix A.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  AASB 127 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application of Australian Accounting Standards.  In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.

Comparison with IAS 27
AASB 127 Separate Financial Statements as amended incorporates IAS 27 Separate Financial Statements as issued and amended by the International Accounting Standards Board (IASB).