CONTENTS

COMPILATION DETAILS

Comparison With IAS 34

Accounting Standard

AASB 134 Interim Financial Reporting

Paragraphs

Objective

Application Aus1.1 – Aus1.9

Reduced Disclosure Requirements Aus1.10 – Aus1.12

Scope 1 – 3

Definitions 4

Content of an Interim Financial Report 5 – 7

Minimum Components of an Interim Financial Report 8 – 8A

Form and Content of Interim Financial Statements 9 – 14

Significant Events and Transactions 15 – 15C

Other Disclosures 16A

Disclosure of Compliance with Australian Accounting Standards 19 – RDR19.1

Periods for which Interim Financial Statements are Required to be Presented 20 – 22

Materiality 23 – 25

Disclosure in Annual Financial Statements 26 – 27

Recognition and Measurement

Same Accounting Policies as Annual 28 – 36

Revenues Received Seasonally, Cyclically, or Occasionally 37 – 38

Costs Incurred Unevenly During the Annual Reporting Period 39

Applying the Recognition and Measurement Principles 40

Use of Estimates 41 – 42

Restatement of Previously Reported Interim Periods 43 – 45

Effective Date 49 – 57

ILLUSTRATIVE EXAMPLES

A. Illustration of Periods Required to be Presented Page 18

B. Examples of Applying the Recognition and Measurement Principles Page 18

C. Examples of the Use of Estimates Page 22

DELETED IAS 34 TEXT Page 24

BASIS FOR CONCLUSIONS ON IAS 34

(available on the AASB website)

Australian Accounting Standard AASB 134 Interim Financial Reporting (as amended) is set out in paragraphs Aus1.1 – 57. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in this Standard are in italics the first time they appear in the Standard. AASB 134 is to be read in the context of other Australian Accounting Standards including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.