Australian Government
Australian Accounting Standards Board
Thursday, September 19, 2024
The AASB has issued AASB 2024-3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11. The Standard makes minor improvements to five Standards to address inconsistencies or to clarify requirements.
This Standard amends AASB 1 First-time Adoption of Australian Accounting Standards, AASB 7 Financial Instruments: Disclosures, AASB 9 Financial Instruments, AASB 10 Consolidated Financial Statements and AASB 107 Statement of Cash Flows.
The Standard applies to annual periods beginning on or after 1 January 2026, with earlier application of the amendments to individual Standards permitted.