Accounting Standard AASB 2021-2 Amendments to Australian Accounting Standards – Disclosure of Accounting Policies and Definition of Accounting Estimates
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Objective
This Standard amends:
(a) AASB 7 Financial Instruments: Disclosures (August 2015);
(b) AASB 101 Presentation of Financial Statements (July 2015);
(c) AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors (August 2015);
(d) AASB 134 Interim Financial Reporting (August 2015); and
(e) AASB Practice Statement 2 Making Materiality Judgements (December 2017);
as a consequence of the issuance by the International Accounting Standards Board in February 2021 of the following International Financial Reporting Standards:
(f) Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2); and
(g) Definition of Accounting Estimates (Amendments to IAS 8).