Document ID: chunk:federal_register_of_legislation:F2021L00471:body:0:p10
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include standardised information, or information that duplicates or summarises the requirements of the Australian Accounting Standards. Entity-specific accounting policy information is particularly useful when that information relates to an area for which an entity has exercised judgement—for example, when an entity applies an Australian Accounting Standard differently from similar entities in the same industry.
88F Although entity-specific accounting policy information is generally more useful, material accounting policy information could sometimes include information that is standardised, or that duplicates or summarises the requirements of the Australian Accounting Standards. Such information may be material if, for example:
(a) users of the entity's financial statements need that information to understand other material information provided in the financial statements. Such a scenario might arise when an entity applying AASB 9 Financial Instruments has no choice regarding the classification of its financial instruments. In such scenarios, users of that entity's financial statements may only be able to understand how the entity has accounted for its material financial instruments if users also understand how the entity has applied the requirements of AASB 9 to its financial instruments.
(b) an entity reports in a jurisdiction in which entities also report applying local accounting standards.
(c) the accounting required by the Australian Accounting Standards is complex, and users of financial statements need to understand the required accounting. Such a scenario might arise when an entity accounts for a material class of transactions, other events or conditions by applying more than one Australian Accounting Standard.
88G Paragraph 117D of AASB 101 states that if an entity discloses immaterial accounting policy information, such information shall not obscure material information. Paragraphs 56–59 provide guidance about how to communicate information clearly and concisely in the financial statements.

Example S—making materiality judgements and focusing on entity-specific information while avoiding standardised (boilerplate) accounting policy information
Background
An entity operates within the telecommunications industry. It has entered into contracts with retail customers to deliver mobile phone handsets and data services. In a typical contract, the entity provides a customer with a handset and data services over three years. The entity applies AASB 15 Revenue from Contracts with Customers and recognises revenue when, or as, the entity satisfies its performance obligations in line with the terms of the contract.
The entity has identified two performance obligations and related considerations:
(a) the handset—the customer makes monthly payments for the handset over three years; and
(b) data—the customer pays a fixed monthly charge to use a specified monthly amount of data over three years.
For the handset, the entity concludes that it should recognise revenue when it satisfies the performance obligation (when it provides the handset to the customer). For the provision of data, the entity concludes that