CTHRepealedLegislation
AASB 120 - Accounting for Government Grants and Disclosure of Government Assistance - July 2004
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AASB 120 - Accounting for Government Grants and Disclosure of Government Assistance - July 2004
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Aus1.1 This Standard applies to:
(a) each for-profit entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act and that is a reporting entity;
(b) general purpose financial statements of each other for-profit reporting entity; and
(c) financial statements of a for-profit entity that are, or are held out to be, general purpose financial statements.
Aus1.2 This Standard applies to annual reporting periods beginning on or after 1 January 2005.
[Note: For application dates of paragraphs changed or added by an amending Standard, see Compilation Details.]
Aus1.3 This Standard shall not be applied to annual reporting periods beginning before 1 January 2005.
Aus1.4 [Deleted by the AASB]
Aus1.5 When applicable, this Standard supersedes AASB 1004 Revenue as notified in the Commonwealth of Australia Gazette No S 283, 17 June 1998.
Aus1.6 AASB 1004 issued in June 1998 remains applicable until superseded by this Standard.
Aus1.7 Notice of this Standard was published in the Commonwealth of Australia Gazette No S 294, 22 July 2004.