Appendix A -- Effective date and transition

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

A1

An entity shall apply this Interpretation 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. If an entity applies this Interpretation for an earlier period, it shall disclose that fact.

A2

Changes in accounting policies resulting from the initial application of this Interpretation shall be accounted for retrospectively in accordance with AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors.[1]

1

When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.