AASB 137 - Provisions, Contingent Liabilities and Contingent Assets - July 2004
Reduced Disclosure RequirementsReduced Disclosure Requirements
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Reduced Disclosure Requirements
Aus1.8 The following do not apply to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements:
(a) paragraphs 84(b), 84(e) and 85(c);
(b) in paragraph 75, the text “If an entity starts to … of the financial statements.”; and
(c) in paragraph 85(b), the text “. Where necessary … paragraph 48”.
Entities applying Australian Accounting Standards – Reduced Disclosure Requirements may elect to comply with some or all of these excluded requirements.
Aus1.9 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.