3 This Standard shall be applied by all entities to all types of financial instruments, except:
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(f) instruments that are required to be classified as equity instruments in accordance with paragraphs 16A and 16B or paragraphs 16C and 16D of AASB 132. However, the disclosures required by paragraphs 19A–19B are required for such instruments.
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Significance of financial instruments for financial position and performance
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Categories of financial assets and financial liabilities
8 The carrying amounts of each of the following categories, as specified in AASB 9, shall either be presented disclosed either in the statement of financial position or disclosed in the notes:
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Financial instruments classified as equity in accordance with paragraphs16A–16B or paragraphs 16C–16D of AASB 132
19A For puttable financial instruments classified as equity instruments in accordance with paragraphs 16A–16B of AASB 132, an entity shall disclose (to the extent not disclosed elsewhere):
(a) summary quantitative data about the amount classified as equity;
(b) its objectives, policies and processes for managing its obligation to repurchase or redeem the instruments when required to do so by the instrument holders, including any changes from the previous period;
(c) the expected cash outflow on redemption or repurchase of that class of financial instruments; and
(d) information about how the expected cash outflow on redemption or repurchase was determined.
19B If an entity has reclassified any of the following financial instruments between financial liabilities and equity, it shall disclose the amount reclassified into and out of each category (financial liabilities or equity), and the timing and reason for that reclassification:
(a) a puttable financial instrument classified as an equity instrument applying paragraphs 16A–16B of AASB 132; or
(b) an instrument that imposes on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and is classified as an equity instrument applying paragraphs 16C–16D of AASB 132.
Statement of comprehensive income
Items of income, expense, gains or losses
20 An entity shall either present, subject to the presentation requirements in AASB 18 Presentation and Disclosure in Financial Statements, disclose the following items of income, expense, gains or losses either in the statement of comprehensive income or disclose them in the notes:
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Accounting policies
21 In accordance with paragraph 27A of AASB 108 Basis of Preparation of Financial Statements117 of AASB 101 Presentation of Financial Statements, an entity discloses material accounting policy information. Information about the measurement basis (or bases) for financial instruments used in preparing the financial statements is expected to be material accounting policy information.
Section 3 - Accounting Standard AASB 18 Presentation and Disclosure in Financial Statements - This Standard shall be applied by all entities to all types of financial instruments, except: | Zoe
Hedge accounting
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The effects of hedge accounting on financial position and performance
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24C An entity shall disclose, in a tabular format, the following amounts separately by risk category for the types of hedges as follows:
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(b) for cash flow hedges and hedges of a net investment in a foreign operation:
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(iv) the amount reclassified from the cash flow hedge reserve or the foreign currency translation reserve into profit or loss as a reclassification adjustment (see AASB 18 AASB 101) (differentiating between amounts for which hedge accounting had previously been used, but for which the hedged future cash flows are no longer expected to occur, and amounts that have been transferred because the hedged item has affected profit or loss);
(v) the line item in the statement of comprehensive income that includes the reclassification adjustment (see AASB 18AASB 101); and
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24E An entity shall provide a reconciliation of each component of equity and an analysis of other comprehensive income in accordance with AASB 18 AASB 101 that, taken together:
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24F An entity shall provide disclose the information required in paragraph 24E separately by risk category. This disaggregation by risk may be disclosed provided in the notes to the financial statements.
Option to designate a credit exposure as measured at fair value through profit or loss
24G If an entity designated a financial instrument, or a proportion of it, as measured at fair value through profit or loss because it uses a credit derivative to manage the credit risk of that financial instrument it shall disclose:
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(c) on discontinuation of measuring a financial instrument, or a proportion of it, at fair value through profit or loss, that financial instrument’s fair value that has become the new carrying amount in accordance with paragraph 6.7.4 of AASB 9 and the related nominal or principal amount (except for providing comparative information in accordance with AASB 18AASB 101, an entity does not need to continue this disclosure in subsequent periods).
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44KK AASB 18 issued in June 2024 amended paragraphs 3, 8, 20, 21, 24C, 24E, 24F, 24G, 44AA, 44FF, 44II, B5, B7 and B46, and added paragraphs 19A–19B and a related subheading. An entity shall apply those amendments when it applies AASB 18.
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Classes of financial instruments and level of disclosure (paragraph 6)
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Other disclosure – accounting policies (paragraph 21)
B5 Paragraph 21 requires disclosure of material accounting policy information, which is expected to include information about the measurement basis (or bases) for financial instruments used in preparing the financial statements. For financial instruments, such disclosure may include:
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Paragraph 27G of AASB 108 Basis of Preparation of Financial Statements 122 of AASB 101 also requires entities to disclose, along with material accounting policy information or other notes, the judgements, apart from those involving estimations, that management has made in the process of applying the entity’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Nature and extent of risks arising from financial instruments (paragraphs 31–42)
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Quantitative disclosures (paragraph 34)
B7 Paragraph 34(a) requires disclosures of summary quantitative data about an entity’s exposure to risks based on the information provided internally to key management personnel of the entity. When an entity uses several methods to manage a risk exposure, the entity shall disclose information using the method or methods that provide the most relevant and reliable information. AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors discusses relevance and reliability.
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Derecognition (paragraphs 42C–42H)
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Offsetting financial assets and financial liabilities
(paragraphs 13A–13F)
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Disclosure of the net amounts presented in the statement of financial position (paragraph 13C(c))
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B46 The amounts required to be disclosed by paragraph 13C(c) must be reconciled to the individual line item amounts presented in the statement of financial position. For example, if an entity applying the requirements of AASB 18 aggregates or disaggregates amounts presented in determines that the aggregation or disaggregation of individual financial statement line items amounts when the entity provides the amounts required by paragraph 13C(c)provides more relevant information, it must reconcile those the aggregated or disaggregated amounts disclosed in paragraph 13C(c) back to the individual line item amounts presented in the statement of financial position.
A footnote is added to ‘AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors’ in paragraph 44AA. New text is underlined.