AASB 124 - Related Party Disclosures - December 2005
compilation detailscompilation details
Start here
Get a plain-English read of compilation details
Turn the raw legal text into a practical explanation grounded in AASB 124 - Related Party Disclosures - December 2005.
compilation details
Accounting Standard AASB 124 Related Party Disclosures as amended
This compiled Standard applies to annual reporting periods beginning on or after 1 January 2009. It takes into account amendments up to and including 6 June 2008 and was prepared on 4 November 2009 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB. Instead, it is a representation of AASB 124 (December 2005) as amended by other Accounting Standards, which are listed in the Table below.
Table of Standards
| Standard | Date made | Application date(annual reporting periods … on or after …) | Application, saving or transitional provisions |
|---|---|---|---|
| AASB 124 | 20 Dec 2005 | (ending) 31 Dec 2005 | see (a) below |
| AASB 2007-8 | 24 Sep 2007 | (beginning) 1 Jan 2009 | see (b) below |
| AASB 2007-10 | 13 Dec 2007 | (beginning) 1 Jan 2009 | see (b) below |
| AASB 2008-4 | 6 Jun 2008 | (beginning) 30 Jun 2007and (ending) 30 Jun 2008 | see (c) below |
(a) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 that end before 31 December 2005.
(b) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009, provided that AASB 101 Presentation of Financial Statements (September 2007) is also applied to such periods.
(c) Entities may elect to apply this Standard to annual reporting periods beginning on or after 30 June 2007 that end before 30 June 2008.
Table of Amendments
| Paragraph affected | How affected | By … [paragraph] |
|---|---|---|
| 1 | amended | AASB 2007-10 [68] |
| Aus1.2 | amended | AASB 2007-8 [7, 8] |
| Aus1.3 | amended | AASB 2007-8 [7] |
| Aus1.4 | amended | AASB 2008-4 [7] |