Appendix C -- Effective date and transition

Effective date and transition | References to AASB 9

This appendix is an integral part of the Standard and has the same authority as the other parts of the Standard.

Effective date and transition

C1

An entity shall apply this Standard for annual periods beginning on or after 1 January 2016. Earlier application is permitted for periods beginning on or after 1 January 2014 but before 1 January 2016.

C1A–C1B

[Deleted by the AASB]

C1C

AASB 2015-5 Amendments to Australian Accounting Standards – Investment Entities: Applying the Consolidation Exception, issued in January 2015, amended paragraph 6 in the previous version of the Standard. An entity shall apply that amendment for annual periods beginning on or after 1 January 2016. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact.

C1D

AASB 2017-2 Amendments to Australian Accounting Standards – Further Annual Improvements 2014–2016 Cycle, issued in February 2017, added paragraph 5A and amended paragraph B17. An entity shall apply those amendments retrospectively in accordance with AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors for annual periods beginning on or after 1 January 2017.

C2

[Deleted by the AASB]

C2A

The disclosure requirements of this Standard need not be applied for any period presented that begins before the annual period immediately preceding the first annual period for which AASB 12 is applied.

C2B

The disclosure requirements of paragraphs 24–31 and the corresponding guidance in paragraphs B21–B26 of this Standard need not be applied for any period presented that begins before the first annual period for which AASB 12 is applied.

References to AASB 9

C3

If an entity applies this Standard but does not yet apply AASB 9, any reference to AASB 9 shall be read as a reference to AASB 139 Financial Instruments: Recognition and Measurement.