AASB 1048 - Interpretation and Application of Standards - March 2007
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Application
2 This Standard applies to:
(a) each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act;
(b) general purpose financial reports of each reporting entity; and
(c) financial reports that are, or are held out to be, general purpose financial reports.
3 This Standard applies to annual reporting periods ending on or after 31 March 2007.
4 This Standard may be applied to annual reporting periods beginning on or after 1 January 2005 that end before 31 March 2007.
5 The requirements specified in this Standard apply to the financial report where information resulting from their application is material in accordance with AASB 1031 Materiality.
6 When applicable, this Standard supersedes AASB 1048 Interpretation and Application of Standards as issued in December 2006.