Accounting Standard AASB 18 Presentation and Disclosure in Financial Statements
6AWhen it issued AASB 18, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.
Start here
Get a plain-English read of 6A
Turn the raw legal text into a practical explanation grounded in Accounting Standard AASB 18 Presentation and Disclosure in Financial Statements.
6A When it issued AASB 18, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.
AASB 6 Exploration for and Evaluation of Mineral Resources (August 2015)
| Paragraph 6 is amended. Paragraph 26B is added. New text is underlined and deleted text is struck through. |
|---|
Recognition of exploration and evaluation assets
Temporary exemption from AASB 108 paragraphs 11 and 12
6 When developing its accounting policies, an entity recognising exploration and evaluation assets shall apply paragraph 10 of AASB 108 Basis of Preparation of Financial Statements Accounting Policies, Changes in Accounting Estimates and Errors and paragraphs Aus7.1 and Aus7.2 below.
...
...
26B AASB 18 Presentation and Disclosure in Financial Statements issued in June 2024 amended paragraphs 6 and 26A. An entity shall apply those amendments when it applies AASB 18.
| A footnote is added to ‘AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors.’ in paragraph 26A. New text is underlined. |
|---|
1 When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.
AASB 7 Financial Instruments: Disclosures (August 2015)
| Paragraphs 3, 8, 20, 21, 24C, 24E, 24F, 24G, B5, B7 and B46 are amended. Paragraphs 19A–19B and their related subheading, and paragraph 44KK are added. New text is underlined and deleted text is struck through. |
|---|