Appendix D -- Transition Scenarios
This appendix accompanies, but is not part of AASB 1053. It is intended to summarise which paragraphs of AASB 1053 (as revised by AASB 2014-2 Amendments to AASB 1053 – Transition to and between 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 |
AASB 1 |
IFRS adoption |
BC17 |
|
|
SPFSs |
SPFSs using R&M |
T1 non-IFRS |
AASB 1 |
Consistent with IFRS |
BC17 |
|
|
SPFSs |
SPFSs not using R&M |
T1 IFRS |
AASB 1 |
IFRS adoption |
BC17 |
|
|
SPFSs |
SPFSs not using R&M |
T1 non-IFRS |
AASB 1 |
Consistent with IFRS |
BC17 |
|
|
SPFSs |
T2 |
T1 IFRS |
AASB 1 |
IFRS adoption |
BC22 |
|
|
SPFSs |
T2 |
T1 non-IFRS |
Not AASB 1 |
Continue R&M, & BC93 of AASB 1053[2] |
BC22 |
|
|
|
|
First time adopt T2 |
|
|
|
|
|
SPFSs |
SPFSs using R&M |
T2 |
Not AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC18 |
|
|
SPFSs |
SPFSs not using R&M |
T2 |
AASB 1 or directly through AASB 108 |
Cost/benefit considerations |
BC17&BC19 |
|
|
SPFSs |
T1 IFRSs |
T2 |
Not AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC22 |
|
|
SPFSs |
T1 non-IFRS |
T2 |
Not AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC22 |
|
|
|
|
Resume T1 |
|
|
|
|
|
T1 IFRS |
SPFSs using R&M |
T1 IFRS |
AASB 1 or AASB 108 option in AASB 1 |
IFRS adoption |
BC13 |
|
|
T1 IFRS |
SPFSs using R&M |
T1 non-IFRS |
AASB 1 or AASB 108 option in AASB 1 |
Consistent with IFRS |
BC13 |
|
|
T1 IFRS |
SPFSs not using R&M |
T1 IFRS |
AASB 1 or AASB 108 option in AASB 1 |
IFRS adoption |
BC13 |
|
|
T1 IFRS |
SPFSs not using R&M |
T1 non-IFRS |
AASB 1 or AASB 108 option in AASB 1 |
Consistent with IFRS |
BC13 |
|
|
T1 IFRS |
T2 |
T1 IFRS |
AASB 1 or AASB 108 option in AASB 1 |
IFRS adoption |
BC22 |
|
|
T1 IFRS |
T2 |
T1 non-IFRS |
Not AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC22 |
|
|
T1 non-IFRS |
SPFSs using R&M |
T1 IFRS |
AASB 1 (but not AASB 108 option in AASB 1) |
IFRS adoption |
BC12 |
|
|
T1 non-IFRS |
SPFSs using R&M |
T1 non-IFRS |
AASB 1 or AASB 108 option in AASB 1 |
Consistent with IFRS |
|
|
|
T1 non-IFRS |
SPFSs not using R&M |
T1 IFRS |
AASB 1 (but not AASB 108 option in AASB 1) |
IFRS adoption |
BC12 |
|
|
T1 non-IFRS |
SPFSs not using R&M |
T1 non-IFRS |
AASB 1 or AASB 108 option in AASB 1 |
Consistent with IFRS |
|
|
|
T1 non-IFRS |
T2 |
T1 IFRS |
AASB 1 (but not AASB 108 option in AASB 1) |
IFRS adoption |
BC12&BC22 |
|
|
T1 non-IFRS |
T2 |
T1 non-IFRS |
Not AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC22 |
|
|
|
|
Resume T2 |
|
|
|
|
|
T2 |
SPFSs using R&M |
T2 |
Not AASB 1 or AASB 108 option in AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC14 |
|
|
T2 |
SPFSs not using R&M |
T2 |
AASB 1 or AASB 108 option in AASB 1 |
Consistent with IFRS |
|
|
|
T2 |
T1 IFRS |
T2 |
Not AASB 1 or AASB 108 option in AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC22 |
|
|
T2 |
T1 non-IFRS |
T2 |
Not AASB 1 or AASB 108 option in AASB 1 |
Continue R&M, & BC93 of AASB 1053 |
BC22 |
Legend:
SPFSs: special purpose financial statements;
R&M: recognition and measurement in Australian Accounting Standards;
T1: Tier 1;
T2: Tier 2; and
BC: Basis for Conclusions.
AASB 1053 Application of Tiers of Australian Accounting Standards (June 2010).