Document ID: chunk:federal_register_of_legislation:F2023L00951:body:0:p7
Version: federal_register_of_legislation:F2023L00951
Segment Type: other
Provision Reference: 
Character Range: 17437–18032

2022-6 for Tier 1 reporting requirements, the Board decided that this Standard would be effective for annual periods beginning on or after 1 January 2024, with earlier application permitted.
  [1]  AASB 1053 Application of Tiers of Australian Accounting Standards outlines that Australian Accounting Standards consist of two tiers of reporting requirements for preparing general purpose financial statements:
  (a)  Tier 1: Australian Accounting Standards; and
  (b)  Tier 2: Australian Accounting Standards – Simplified Disclosures.
[2]  AASB 1060 paragraph BC55.
[3]  AASB 1060 paragraph BC41.