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:

(a) AASB 1037 Self-Generating and Regenerating Assets as notified in the Commonwealth of Australia Gazette No S 390, 7 August 1998 and as amended by AASB 1037A Amendments to Accounting Standard AASB 1037, which was notified in the Commonwealth of Australia Gazette No S 314, 8 July 1999; and

(b) AAS 35 Self-Generating and Regenerating Assets as issued in August 1998 and as amended by AAS 35A Amendments to Australian Accounting Standard AAS 35, which was issued in July 1999.

Aus1.6 AASB 1037, AASB 1037A, AAS 35 and AAS 35A remain applicable until superseded by this Standard.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.