AASB Framework

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AASB Framework AASB CF 2013-1 December 2013 Amendments to the Australian Conceptual Framework Obtaining a Copy of this Pronouncement This pronouncement is available on the AASB website: www.aasb.gov.au. Alternatively, printed copies are available for purchase by contacting: The Customer Service Officer Australian Accounting Standards Board Level 7 600 Bourke Street Melbourne Victoria AUSTRALIA Phone: Fax: E-mail: Website: Postal address: PO Box 204 Collins Street West Victoria 8007 AUSTRALIA (03) 9617 7637 (03) 9617 7608 publications@aasb.gov.au www.aasb.gov.au Other Enquiries Phone: Fax: E-mail: (03) 9617 7600 (03) 9617 7608 standard@aasb.gov.au COPYRIGHT © Commonwealth of Australia 2013 This AASB pronouncement contains IFRS…show more content…
Main Features of this Pronouncement Application Date This pronouncement makes amendments to the Framework for periods ending on or after 20 December 2013, with allowance for earlier application. AASB CF 2013-1 4 PREFACE Main Amendments This pronouncement replaces the guidance in the Framework on the objective of general purpose financial reporting and the qualitative characteristics of useful financial information with, as an integral part of the Framework, the Appendix: Objective and Qualitative Characteristics. This pronouncement also withdraws SAC 2. AASB CF 2013-1 5 PREFACE ACCOUNTING FRAMEWORK AASB CF 2013-1 AMENDMENTS TO THE AUSTRALIAN CONCEPTUAL FRAMEWORK Objective 1 The objective of this pronouncement is to make amendments to the Framework for the Preparation and Presentation of Financial Statements (Framework) in relation to the objective of general purpose financial reporting and the qualitative characteristics of useful financial information, and to withdraw Statement of Accounting Concepts SAC 2 Objective of General Purpose Financial Reporting. Application 2 This pronouncement applies to general purpose financial statements relating to periods ending on or after 20 December 2013. 3 This pronouncement may be applied to periods beginning on or after 1 January 2005 that end before 20 December 2013. When an entity
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