Application
1
This Standard applies to a concise financial report prepared by an entity in accordance with paragraph 314(2)(a) in Part 2M.3 of the Corporations Act.
2
Under the Corporations Act a company, registered scheme or disclosing entity can elect to send to its members for a financial year a concise report, which includes a concise financial report, instead of the financial report.
3
Where an entity is the parent of a group, this Standard applies to the consolidated financial statements of the entity and the notes to those statements, and does not require that parent financial information be provided.
4
If the entity provides parent financial information in addition to consolidated financial information, the parent financial information is also subject to the requirements of this Standard.
5
[Deleted by the AASB]