Accounting Standard AASB 2022-6 Amendments to Australian Accounting Standards – Non-current Liabilities with Covenants
ApplicationApplication
Start here
Get a plain-English read of Application
Turn the raw legal text into a practical explanation grounded in Accounting Standard AASB 2022-6 Amendments to Australian Accounting Standards – Non-current Liabilities with Covenants.
Application
The amendments set out in this Standard apply to entities and financial statements in accordance with the application of AASB 101 set out in AASB 1057 Application of Australian Accounting Standards.
This Standard applies to annual periods beginning on or after 1 January 2023.
This Standard may be applied to annual periods beginning before 1 January 2023, provided AASB 2020-1 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current is also applied to the period. When an entity applies this Standard to such an annual period, it shall disclose that fact.
This Standard uses underlining, striking out and other typographical material to identify the amendments to AASB 101 and AASB Practice Statement 2, in order to make the amendments more understandable. However, the amendments made by this Standard do not include that underlining, striking out or other typographical material. Ellipses (…) are used to help provide the context within which amendments are made and also to indicate text that is not amended.