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Accounting Standard AASB 2020-5 Amendments to Australian Accounting Standards – Insurance Contracts

5An entity shall apply this Standard to all contracts with customers, except the following:

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5 An entity shall apply this Standard to all contracts with customers, except the following:
(a) …
(b) contracts within the scope of AASB 17 Insurance Contracts. However, an entity may choose to apply this Standard to insurance contracts that have as their primary purpose the provision of services for a fixed fee in accordance with paragraph 8 of AASB 17.;
(c) …

AASB 101 Presentation of Financial Statements (July 2015, as amended)

In the amendments to AASB 101 Presentation of Financial Statements, paragraphs 54 and 139R are amended. New text is underlined and deleted text is struck through.

Information to be presented in the statement of financial position

Section 5 - Accounting Standard AASB 2020-5 Amendments to Australian Accounting Standards – Insurance Contracts - An entity shall apply this Standard to all contracts with customers, except the following: | Zoe