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Compiled AASB Standard  AASB 134

Interim Financial Reporting

This compiled Standard applies to annual periods beginning on or after 1 January 2023.  Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2023.  It incorporates relevant amendments made up to and including 15 December 2022.

Prepared on 6 February 2023 by the staff of the Australian Accounting Standards Board.

Compilation no. 7

Compilation date:  31 December 2022

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.
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AUSTRALIA
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COPYRIGHT
© Commonwealth of Australia 2023
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 Managing 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 IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IAS 34
ACCOUNTING STANDARD
AASB 134 INTERIM FINANCIAL REPORTING

from paragraph
Objective
Scope 1
Definitions 4
Content of an interim financial report 5
Minimum components of an interim financial report 8
Form and content of interim financial statements 9
Significant events and transactions 15
Other disclosures 16A
Disclosure of compliance with Australian Accounting Standards 19
Periods for which interim financial statements are required to be presented 20
Materiality 23
Disclosure in annual financial statements 26
Recognition and measurement
Same accounting policies as annual 28
Revenues received seasonally, cyclically, or occasionally 37
Costs incurred unevenly during the financial year 39
Applying the recognition and measurement principles 40
Use of estimates 41
Restatement of previously reported interim periods 43
Effective date 46
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus57.2
ILLUSTRATIVE EXAMPLES
A  Illustration of periods required to be presented
B  Examples of applying the recognition and measurement principles
C  Examples of the use of estimates
COMPILATION DETAILS
Deleted IAS 34 Text

available on the AASB website
Basis for Conclusions on IAS 34

Australian Accounting Standard AASB 134 Interim Financial Reporting (as amended) is set out in paragraphs 1 – 60.  All the paragraphs