Document ID: chunk:federal_register_of_legislation:F2022C01110:reg:1:p7
Version: federal_register_of_legislation:F2022C01110
Segment Type: reg
Provision Reference: reg 1 (pt 7/11)
Character Range: 21466–27168

Tiers, and related Tier 2 Disclosure Requirements) would apply in particular common scenarios, and their consequences.

A previous reporting period  The most recent previous reporting period  Current reporting period  Applicable paragraph of AASB 1053  Consequence                                 Rationale                             Basis for Conclusions paragraph accompanying AASB 2014-2
                                                                        First time adopt T1
SPFSs                        SPFSs using R&M                            T1 IFRS                   18                                 AASB 1                                      IFRS adoption                         BC17
SPFSs                        SPFSs using R&M                            T1 non-IFRS               18                                 AASB 1                                      Consistent with IFRS                  BC17
SPFSs                        SPFSs not using R&M                        T1 IFRS                   18                                 AASB 1                                      IFRS adoption                         BC17
SPFSs                        SPFSs not using R&M                        T1 non-IFRS               18                                 AASB 1                                      Consistent with IFRS                  BC17
SPFSs                        T2                                         T1 IFRS                   21(a)                              AASB 1                                      IFRS adoption                         BC22
SPFSs                        T2                                         T1 non-IFRS               21(b)                              Not AASB 1                                  Continue R&M, & BC93 of AASB 1053[8]  BC22
                                                                        First time adopt T2
SPFSs                        SPFSs using R&M                            T2                        18A(b)                             Not AASB 1                                  Continue R&M, & BC93 of AASB 1053     BC18
SPFSs                        SPFSs not using R&M                        T2                        18A(a)                             AASB 1 or directly through AASB 108         Cost/benefit considerations           BC17&BC19
SPFSs                        T1 IFRSs                                   T2                        23                                 Not AASB 1                                  Continue R&M, & BC93 of AASB 1053     BC22
SPFSs                        T1 non-IFRS                                T2                        23                                 Not AASB 1                                  Continue R&M, & BC93 of AASB 1053     BC22
                                                                        Resume T1
T1 IFRS                      SPFSs using R&M                            T1 IFRS                   19                                 AASB 1 or AASB 108 option in AASB 1         IFRS adoption                         BC13
T1 IFRS                      SPFSs using R&M                            T1 non-IFRS               19                                 AASB 1 or AASB 108 option in AASB 1         Consistent with IFRS                  BC13
T1 IFRS                      SPFSs not using R&M                        T1 IFRS                   19                                 AASB 1 or AASB 108 option in AASB 1         IFRS adoption                         BC13
T1 IFRS                      SPFSs not using R&M                        T1 non-IFRS               19                                 AASB 1 or AASB 108 option in AASB 1         Consistent with IFRS                  BC13
T1 IFRS                      T2                                         T1 IFRS                   21(a)                              AASB 1 or AASB 108 option in AASB 1         IFRS adoption                         BC22
T1 IFRS                      T2                                         T1 non-IFRS               21(b)                              Not AASB 1                                  Continue R&M, & BC93 of AASB 1053     BC22
T1 non-IFRS                  SPFSs using R&M                            T1 IFRS                   19A                                AASB 1 (but not AASB 108 option in AASB 1)  IFRS adoption                         BC12
T1 non-IFRS                  SPFSs using R&M                            T1 non-IFRS               19                                 AASB 1 or AASB 108 option in AASB 1         Consistent with IFRS
T1 non-IFRS                  SPFSs not using R&M                        T1 IFRS                   19A                                AASB 1 (but not AASB 108 option in AASB 1)  IFRS adoption                         BC12
T1 non-IFRS                  SPFSs not using R&M                        T1 non-IFRS               19                                 AASB 1 or AASB 108 option in AASB 1         Consistent with IFRS
T1 non-IFRS                  T2                                         T1 IFRS                   19A&21(a)                          AASB 1 (but not AASB 108 option in AASB 1)  IFRS adoption                         BC12&BC22
T1 non-IFRS                  T2                                         T1 non-IFRS               21(b)                              Not AASB 1                                  Continue R&M, & BC93 of AASB 1053     BC22
                                                                        Resume T2
T2                           SPFSs using R&M                            T2                        19B(e)                             Not AASB 1 or AASB 108