CTHRepealedLegislation
AASB 108 - Accounting Policies, Changes in Accounting Estimates and Errors - July 2004
Retrospective applicationRetrospective application
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Retrospective application
22 Subject to paragraph 23, when a change in accounting policy is applied retrospectively in accordance with paragraph 19(a) or (b), the entity shall adjust the opening balance of each affected component of equity for the earliest prior period presented and the other comparative amounts disclosed for each prior period presented as if the new accounting policy had always been applied.