AASB 134 - Interim Financial Reporting - July 2004
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Application
Aus1.1 This Standard applies to:
(a) each disclosing entity required to prepare half-year financial reports in accordance with Part 2M.3 of the Corporations Act;
(b) interim financial reports that are general purpose financial statements of each other reporting entity; and
(c) interim financial reports that are, or are held out to be, general purpose financial statements.
Aus1.2 Under the Corporations Act, disclosing entities are required to prepare half-year financial reports. Disclosing entities may also voluntarily prepare other general purpose interim financial reports. This Standard prescribes the form and content of general purpose interim financial reports, including half-year financial reports prepared by disclosing entities.
Aus1.3 Interim financial reports that are intended to be special purpose financial reports do not fall within the scope of this Standard. However, interim financial reports that are purported to be special purpose financial reports but have the characteristics of general purpose financial statements fall within the scope of this Standard. Interim financial reports that are widely available but lack the characteristics of general purpose financial statements are not regarded as general purpose financial statements. An example is selected interim summary financial information, such as turnover and profit, voluntarily released by some entities. In some cases, professional judgement is needed to determine whether particular interim financial reports are general purpose financial statements.
Aus1.4 This Standard applies to interim periods beginning on or after 1 January 2005.
[Note: For application dates of paragraphs changed or added by an amending Standard, see Compilation Details.]
Aus1.5 This Standard shall not be applied to interim periods beginning before 1 January 2005.
Aus1.6 [Deleted by the AASB]
Aus1.7 When applicable, this Standard supersedes AASB 1029 Interim Financial Reporting as notified in the Commonwealth of Australia Gazette No S 534, 5 October 2000.
Aus1.8 AASB 1029 remains applicable until superseded by this Standard.
Aus1.9 Notice of this Standard was published in the Commonwealth of Australia Gazette No S 294, 22 July 2004.