Reduced disclosure requirementsReduced disclosure requirements

Reduced disclosure requirements

Aus1.7 The following do not apply to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements:

(a) paragraphs 59-63, Aus63.6-Aus63.9, B64(d), B64(e), B64(h), B64(k), B64(l), B64(m), B64(n)(ii), B64(q), B65, B66, B67(a)-(c) and B67(e);

(b) in the heading before paragraph B64, the text “(application of paragraphs 59 and 61)”;

(c) in paragraph B64, the text “To meet the objective in paragraph 59,”;

(d) in paragraph B64(j), the sentence “If a contingent liability … liability cannot be measured reliably.”; and

(e) in paragraph B67, the text “To meet the objective in paragraph 61,”.

Entities applying Australian Accounting Standards – Reduced Disclosure Requirements may elect to comply with some or all of these excluded requirements.

Aus1.8 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, except for comparative disclosures subject to RDR paragraphs.

Aus1.9 RDR paragraphs in this Standard apply only to entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.