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17 May. 2018

New compilations for reporting periods beginning on or after 1-1-18​

New compilations for reporting periods beginning on or after 1-1-18 have now been published on the AASB website:

  • AASB 15 – this applies mandatorily only to for-profit entities, as mandatory application to not-for-profit (NFP) entities was deferred by one year to periods beginning on or after 1-1-19.

Consequently, the following pronouncements apply for another year for NFP entities, ie periods beginning on or after 1-1-18 but before 1-1-19, after which they are also superseded for NFP entities:

  • AASB 111
  • AASB 118 (incorporating 1-1-18 amendments)
  • Interpretation 13
  • Interpretation 15
  • Interpretation 18
  • Interpretation 131
  • Interpretation 1042

Application notes (re NFP and FP entities) have been added to the covers of these pronouncements.