2022/23

The following pronouncements apply mandatorily to the 2022/23 financial year.  They were not mandatory for the previous financial year (but could be applied early, if permitted).

General

·         AASB 2020-3 Amendments to Australian Accounting Standards – Annual Improvements 2018–2020 and Other Amendments

·         AASB 2020-6 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current – Deferral of Effective Date [Deferral of amendments to AASB 101]

·         AASB 2021-7 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections
[Deferral of equity accounting-related amendments; general editorials now apply]

·         AASB 2022-3 Amendments to Australian Accounting Standards – Illustrative Examples for Not-for-Profit Entities accompanying AASB 15

2021/22

The following pronouncements apply mandatorily to the 2021/22 financial year.  They were not mandatory for the previous financial year (but could be applied early, if permitted).

General

·         AASB 2020-5 Amendments to Australian Accounting Standards – Insurance Contracts  [Deferral of AASB 17 to 1-1-23, and amendments]

·         AASB 2020-8 Amendments to Australian Accounting Standards – Interest Rate Benchmark Reform – Phase 2

·         AASB 2021-3 Amendments to Australian Accounting Standards – Covid-19-Related Rent Concessions beyond 30 June 2021

·         AASB 2022-2 Amendments to Australian Accounting Standards – Extending Transition Relief under AASB 1

Tier 2

·         AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities

·         AASB 2020-7 Amendments to Australian Accounting Standards – Covid-19-Related Rent Concessions: Tier 2 Disclosures

·         AASB 2020-9 Amendments to Australian Accounting Standards – Tier 2 Disclosures: Interest Rate Benchmark Reform (Phase 2) and Other Amendments

·         AASB 2021-1 Amendments to Australian Accounting Standards – Transition to Tier 2: Simplified Disclosures for Not-for-Profit Entities

Special Purpose Financial Statements

·         AASB 2020-2 Amendments to Australian Accounting Standards – Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities

·         AASB 2022-4 Amendments to Australian Accounting Standards – Disclosures in Special Purpose Financial Statements of Certain For-Profit Private Sector Entities