AASB 1 - First-time Adoption of Australian Accounting Standards - May 2009
Reduced disclosure requirementsReduced disclosure requirements
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Reduced disclosure requirements
Aus1.6 The following do not apply to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements:
(a) paragraphs 21, 22, 23, 24(b), 24(c), 25-31B, 32 and 33;
(b) in paragraph 6, the text “and present”; and
(c) in paragraph 24, the text “To comply with paragraph 23,”.
Entities applying Australian Accounting Standards – Reduced Disclosure Requirements may elect to comply with some or all of these excluded requirements.
Aus1.7 The requirements that do not apply to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements are identified in this Standard by shading of the relevant text.
Aus1.8 The RDR paragraph in this Standard applies only to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.