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Accounting Standard AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities
Effective date and early applicationEffective date and early application
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Effective date and early application
- To ensure consistency between for-profit private sector entities and NFP entities, it was necessary to align the effective date of this Standard with the effective date of the equivalent relief available to for-profit private sector entities. For this reason, the Board decided that this Standard would be effective for annual periods beginning on or after 1 July 2021, with earlier application permitted, provided AASB 1060 is also applied to the same period.