Reduced disclosure requirementsReduced disclosure requirements

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) in paragraph 25, the text “For example, AASB 124 requires disclosures about employee benefits for key management personnel. AASB 101 Presentation of Financial Statements requires disclosure of employee benefits expense.”;

(b) paragraphs 54, 135(c), 137, 139(c), 141(a)–(e), 141(h), footnote 3 to paragraph 142, 145–147, 148(d)(v) and 149–151;

(c) in paragraph 139(a), the text “, including:” and associated paragraphs (i)–(iii);

(d) in paragraph 140(b), the text “An entity shall also describe the relationship between any reimbursement right and the related obligation.”;

(e) in paragraph 141(f), the text “, showing separately those by the employer and by plan participants”;

(f) in paragraph 141(g), the text “, showing separately the amount paid in respect of any settlements”;

(g) in paragraph 142, the text “, subdividing each class … could distinguish between:” and associated paragraphs (a)–(h);

(h) in paragraph 144, the text “Such disclosure shall … relatively narrow ranges.”;

(i) in paragraph 148(d)(iv), the text “, including the basis used to determine that deficit or surplus”;

(j) in paragraph 158, the text “AASB 124 requires disclosures about employee benefits for key management personnel.”; and

(k) in paragraph 171, the text “AASB 124 requires disclosures about employee benefits for key management personnel.”

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.