This ACT Accounting Policy applies to directorates and territory authorities and covers Australian Accounting Standards and Interpretations which have been issued as at 30 June 2020 that are not yet effective. Effective dates fully set out in the relevant standard or amending standard. Recent and amending standards issued by the NZASB. Publications. If the effect of a pronouncement has not yet been determined, this fact should be disclosed. Annual Improvements to IFRS Standards 2015-2017 Cycle. 2020. 2 TREATMENT OF AASB STANDARDS ISSUED WHICH ARE NOT YET EFFECTIVE 2.1 DISCLOSURES REQUIRED FOR STANDARDS ISSUED BUT NOT YET EFFECTIVE Standards of GRAP (2020) issued on Month Year. Section II. The IASB has issued ‘Annual Improvements to IFRS Standards 2015–2017 Cycle’. The publication includes a table on page 2 which lists all the changes included, their effective dates … Effective for its annual financial statements for 2019 and interim financial statements thereafter, the Company expects to adopt new accounting standards issued by FASB that will require significant changes in accounting for operating leases under which the Company is lessee, and in the method and timing of recognition of certain nonlease contract revenues and certain incremental … Paragraph 30 of AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors requires entities preparing full general purpose (Tier 1) financial statements to disclose the possible impact of Australian Accounting Standards issued but not yet effective, on future financial statements (i.e. Last Updated 23 March 2017 11:30:47 AM. Guidance effective in 2020 for calendar year-end nonpublic companies For the latest AASB Standards Issues Not Yet Effective list compiled by Carmen Ridley, go to this CaseWare Australia & New Zealand technical FAQ on our website.. For more information on AASB or IFRS standards, please email Carmen Ridley: cridley@afrs.com.au. Many translated example sentences containing "standards issued but not yet effective" ... 2020 External sources (not reviewed) ... not to early adopt the following standards and interpretations that were issued but not yet effective for the accounting periods beginning [...] on 1 January 2006. We want to ensure that you are kept up to date with any changes and as such would ask that you take a moment to review the changes. Effective Dates for New Standards This summary of recently issued pronouncements has been prepared for information purposes only. b) New and amended standards and interpretations issued but not yet effective and not early adopted There are no IFRSs or IFRIC interpretations that are not yet effective … N continued PAGE 30 TSOGO SUN consolidated financial statements 2019 3. For-profit. Since the last time you logged in our privacy statement has been updated. STATUTORY BOARD FINANCIAL REPORTING STANDARDS EFFECTIVE AS AT 1 JANUARY 2020. In addition, the new and revised standards and interpretations which have been published but which are not yet applicable in 2020 in the EU are enclosed as well. Part A Contains the text of IFRS Standards including IAS® Standards, IFRIC® Interpretations and SIC® Interpretations, together with the Conceptual Framework for Financial Reporting (glossary and index included) Earlier application is permitted. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors requires that when an entity has notapplied a new Standard or Interpretation that has been issued but is not yet effective, the entity shall disclose certain facts. Accounting Standards that have been issued but are not yet effective. Any further Standards (and Interpretations) issued after this date will also need to be disclosed up until the date of authorisation of the financial report. 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