Document ID: chunk:federal_register_of_legislation:F2025C00208:body:0:p24
Version: federal_register_of_legislation:F2025C00208
Segment Type: other
Provision Reference: 
Character Range: 61667–64935

to annual periods beginning before 1 January 2020.
    4.            Entities may elect to apply this Standard to annual periods beginning before 1 July 2021.
    5.            Entities may elect to apply this Standard to annual periods beginning before 1 January 2025.

Table of amendments
Paragraph affected    How affected              By … [paragraph/page]
 AusCF1               added                     AASB 2019-1 [page 20]
 8                    amended                   AASB 2023-5 [page 6]
 8A-8B (and heading)  added                     AASB 2023-5 [page 7]
 16                   amended                   AASB 16 [page 51]
 19A (and heading)    added                     AASB 2023-5 [page 7]
 26                   amended                   AASB 2023-5 [page 7]
 57A-57B              added                     AASB 2023-5 [page 7]
 60K                  added                     AASB 16 [page 51]
 60L-60M              added                     AASB 2023-5 [page 7]
 Aus62.1              repealed                  Legislation Act 2003, s. 48D
 Appendix A           replaced                  AASB 1060 [page 63]
                      relabelled as Appendix B  AASB 2023-5 [page 12]
                      added                     AASB 2023-5 [page 8]
 Appendix B           amended                   AASB 2023-5 [page 12]

Deleted IAS 21 text
Deleted IAS 21 text is not part of AASB 121.
58A Net Investment in a Foreign Operation (Amendment to IAS 21), issued in December 2005, added paragraph 15A and amended paragraph 33. An entity shall apply those amendments for annual periods beginning on or after 1 January 2006. Earlier application is encouraged.
59 An entity shall apply paragraph 47 prospectively to all acquisitions occurring after the beginning of the financial reporting period in which this Standard is first applied. Retrospective application of paragraph 47 to earlier acquisitions is permitted. For an acquisition of a foreign operation treated prospectively but which occurred before the date on which this Standard is first applied, the entity shall not restate prior years and accordingly may, when appropriate, treat goodwill and fair value adjustments arising on that acquisition as assets and liabilities of the entity rather than as assets and liabilities of the foreign operation. Therefore, those goodwill and fair value adjustments either are already expressed in the entity's functional currency or are non-monetary foreign currency items, which are reported using the exchange rate at the date of the acquisition.
60 All other changes resulting from the application of this Standard shall be accounted for in accordance with the requirements of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
60A IAS 1 (as revised in 2007) amended the terminology used throughout IFRSs. In addition it amended paragraphs 27, 30–33, 37, 39, 41, 45, 48 and 52. An entity shall apply those amendments for annual periods beginning on or after 1 January 2009. If an entity applies IAS 1 (revised 2007) for an earlier period, the amendments shall be applied for that earlier period.
60D Paragraph 60B was amended by Improvements to IFRSs issued in May 2010. An entity shall apply that amendment for annual periods beginning on