Appendix C -- Effective date and transition
This appendix is an integral part of the Standard and has the same authority as the other parts of the Standard.
C1
An entity shall apply this Standard for annual periods beginning on or after 1 January 2018. Earlier application is permitted for periods beginning after 24 July 2014 but before 1 January 2018. If an entity applies this Standard for an earlier period, it shall disclose that fact.
AusC1.1
Paragraphs C2 and C3 shall not be applied by an entity that has previously applied AASB 13, unless required to do so by another Standard.
C2
This Standard shall be applied prospectively as of the beginning of the annual period in which it is initially applied.
C3
The disclosure requirements of this Standard need not be applied in comparative information provided for periods before initial application of this Standard.
C4
[Deleted by the AASB]
C5
AASB 2014-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2014), issued in December 2014, amended paragraph 52 in the previous version of this Standard. An entity shall apply that amendment when it applies AASB 9.
C6
AASB 16 Leases, issued in February 2016, amended paragraph 6. An entity shall apply that amendment when it applies AASB 16.