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6 May. 2020

Exposure Draft ED 301: Classification of Liabilities as Current or Non-current—Deferral of Effective Date

The AASB is proposing to defer the effective date of recently issued AASB 2020-1 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current (March 2020) by one year to annual reporting periods beginning on or after 1 January 2023 via ED 301 Classification of Liabilities as Current or Non-current—Deferral of Effective Date.

In response to the COVID-19 pandemic, the AASB is proposing to provide companies with more time to implement any classification changes resulting from the AASB 2020-1. The AASB is not proposing any changes to the original amendments other than the deferral of the effective date.

Please submit your comments to the AASB by 22 May 2020 via the AASB website, LinkedIn or email.