AASB 101 - Presentation of Financial Statements - October 2006
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Scope
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[Deleted by the AASB]
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General purpose financial reports are those intended to meet the needs of users who are not in a position to demand reports tailored to meet their particular information needs. General purpose financial reports include those that are presented separately or within another public document such as an annual report or a prospectus. This Standard does not apply to the structure and content of condensed interim financial reports prepared in accordance with AASB 134 Interim Financial Reporting. However, paragraphs 13-41 apply to such financial reports. This Standard applies equally to all entities and whether or not they need to prepare consolidated financial statements or separate financial statements, as defined in AASB 127 Consolidated and Separate Financial Statements.
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[Deleted by the IASB]
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This Standard uses terminology that is suitable for profit-oriented entities, including public sector business entities. Entities with not‑for‑profit activities in the private sector, public sector or government applying this Standard may need to amend the descriptions used for particular line items in the financial statements and for the financial statements themselves.
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Similarly, entities that do not have equity as defined in AASB 132 Financial Instruments: Presentation (e.g. some mutual funds) and entities whose share capital is not equity (e.g. some co‑operative entities) may need to adapt the presentation in the financial report of members’ or unitholders’ interests.