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AASB 1057 - Application of Australian Accounting Standards - July 2015
5AAASB 4 Insurance Contracts applies to:
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5A AASB 4 Insurance Contracts applies to:
(a) general purpose financial statements of each public sector reporting entity; and
(b) financial statements of each public sector entity that are, or are held out to be, general purpose financial statements;
in respect of annual periods beginning before 1 July 2026. However, a public sector entity may elect to apply AASB 17 Insurance Contracts instead of AASB 4.
6 AASB 8 Operating Segments and AASB 120 Accounting for Government Grants and Disclosure of Government Assistance apply as set out in paragraph 5, provided the entity is a for-profit entity.