ApplicationApplication

Application

Aus1.1 This Standard applies to:

(a) each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act and that is a reporting entity;

(b) general purpose financial statements of each other reporting entity; and

(c) financial statements that are, or are held out to be, general purpose financial statements.

Aus1.2 This Standard applies to annual reporting periods beginning on or after 1 January 2005.
[Note: For application dates of paragraphs changed or added by an amending Standard, see Compilation Details.]

Aus1.3 This Standard shall not be applied to annual reporting periods beginning before 1 January 2005.

Aus1.4 [Deleted by the AASB]

Aus1.5 When applicable, this Standard supersedes the following, to the extent that they relate to the accounting for intangible assets:

(a) AASB 1010 Recoverable Amount of Non-Current Assets as notified in the Commonwealth of Australia Gazette No S 657, 24 December 1999;

(b) AASB 1011 Accounting for Research and Development Costs as notified in the Commonwealth of Australia Gazette No S 99, 29 May 1987;

(c) AASB 1013 Accounting for Goodwill as notified in the Commonwealth of Australia Gazette No S 206, 14 June 1996;

(d) AASB 1015 Acquisitions of Assets as notified in the Commonwealth of Australia Gazette No S 527, 5 November 1999;

(e) AASB 1021 Depreciation as notified in the Commonwealth of Australia Gazette No S 341, 29 August 1997;

(f) AASB 1041 Revaluation of Non-Current Assets as notified in the Commonwealth of Australia Gazette No S 294, 19 July 2001;

(g) AAS 4 Depreciation as issued in August 1997;

(h) AAS 10 Recoverable Amount of Non-Current Assets as issued in December 1999;

(i) AAS 13 Accounting for Research and Development Costs as issued in March 1983;

(j) AAS 18 Accounting for Goodwill as issued in June 1996; and

(k) AAS 21 Acquisitions of Assets as issued in November 1999.

Aus1.6 Each of the Standards identified in Aus1.5(a)-(k) remain applicable until superseded by this Standard.

Aus1.7 Notice of this Standard was published in the Commonwealth of Australia Gazette No S 294, 22 July 2004.