AASB 124 - Related Party Disclosures - December 2009
Reduced Disclosure RequirementsReduced Disclosure Requirements
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Reduced Disclosure Requirements
Aus1.11 The following do not apply to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements:
(a) paragraphs Aus13.1, 26 and 27;
(b) in paragraph 17, the text “and for each of … (e) share-based payment”; and
(c) in paragraph 22, the text “(see paragraph 42 of AASB 119 (September 2011))”.
Entities applying Australian Accounting Standards – Reduced Disclosure Requirements may elect to comply with some or all of these excluded requirements.
Aus1.12 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.