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24 Mar. 2016

Tier 1 requirements to help users evaluate changes in debt

Tier 1 entities to provide disclosures that help users of financial statements evaluate cash and non-cash changes in their financing activities.  Requirements set out in AASB 2016-2 Amendments to Australian Accounting Standards – Disclosure Initiative: Amendments to AASB 107 apply to annual periods beginning on or after 1 January 2017. 

The disclosures apply to Tier 1 not-for-profit entities without amendment. However, relief from the disclosures is available to entities applying Tier 2 reporting requirements.