Transition

28

An entity shall apply this Interpretation from the beginning of the first period presented in the first financial statements to which the Interpretation applies. An entity shall recognise any initial adjustment arising from the application of this Interpretation in retained earnings at the beginning of that period.

Aus28.1

Paragraph 28 and the first sentence of paragraph 29 shall not be applied by an entity that has previously applied Interpretation 14, unless required to do so by a Standard or another Interpretation.

29

An entity shall apply the amendments in paragraphs 3A, 16–18 and 20–22 in the previous version of this Interpretation from the beginning of the earliest comparative period presented in the first financial statements in which the entity applies this Interpretation. If the entity had previously applied this Interpretation before it applies the amendments, it shall recognise the adjustment resulting from the application of the amendments in retained earnings at the beginning of the earliest comparative period presented.