Document ID: chunk:federal_register_of_legislation:F2023L00953:body:0:p4
Version: federal_register_of_legislation:F2023L00953
Segment Type: other
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Character Range: 8544–11358

application is permitted. If an entity applies those amendments for an earlier period, it shall disclose that fact.

63 In applying AASB 2023-1, an entity is not required to disclose:

(a) comparative information for any reporting periods presented before the beginning of the annual reporting period in which the entity first applies those amendments.

(b) the information otherwise required by paragraph 44H(b)(ii)–(iii) as at the beginning of the annual reporting period in which the entity first applies those amendments.

(c) the information otherwise required by paragraphs 44F–44H for any interim period presented within the annual reporting period in which the entity first applies those amendments.

Amendments to AASB 7
Paragraph 44JJ is added. In Appendix B, paragraph B11F is amended. Deleted text is struck through and new text is underlined.

Effective date and transition
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44JJ AASB 2023-1 Amendments to Australian Accounting Standards – Supplier Finance Arrangements, issued in June 2023, which also amended AASB 107 Statement of Cash Flows, amended paragraph B11F. An entity shall apply that amendment when it applies the amendments to AASB 107.

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Appendix B
Application guidance
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Nature and extent of risks arising from financial instruments
(paragraphs 31–42)
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     Quantitative liquidity risk disclosures (paragraphs 34(a) and 39(a) and (b))

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B11F Other factors that an entity might consider in providing the disclosure required in paragraph 39(c) include, but are not limited to, whether the entity:

(a) has committed borrowing facilities (eg commercial paper facilities) or other lines of credit (eg stand-by credit facilities) that it can access to meet liquidity needs;
(b) holds deposits at central banks to meet liquidity needs;
(c) has very diverse funding sources;
(d) has significant concentrations of liquidity risk in either its assets or its funding sources;
(e) has internal control processes and contingency plans for managing liquidity risk;
(f) has instruments that include accelerated repayment terms (eg on the downgrade of the entity's credit rating);
(g) has instruments that could require the posting of collateral (eg margin calls for derivatives);
(h) has instruments that allow the entity to choose whether it settles its financial liabilities by delivering cash (or another financial asset) or by delivering its own shares; or
(i) has instruments that are subject to master netting agreements; or
(j) has accessed, or has access to, facilities under supplier finance arrangements (as described in paragraph 44G of AASB 7) that provide the entity with extended payment terms or the entity's suppliers with early payment terms.

Commencement of the legislative instrument
For legal purposes, this legislative instrument commences on 31 December 2023.