Accounting Standard AASB 1048 Interpretation of Standards (November 2024) (Cth)

AASB Standard AASB 1048 November 2024 Interpretation of Standards

Obtaining a copy of this Accounting Standard This Standard is available on the AASB website: www.aasb.gov.au.

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© Commonwealth of Australia 2024

This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgement of the source. Requests and enquiries concerning reproduction and rights should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.

ISSN 1036-4803

Contents

Preface comparison with international pronouncements ACCOUNTING STANDARD AASB 1048 INTERPRETATION OF STANDARDS

from paragraph Objective 1 Application 2 Interpretations 4 Australian Interpretations corresponding to IASB Interpretations 6 Other Australian Interpretations 8 Conceptual Framework 10 Commencement of the legislative instrument 12 Withdrawal of AASB pronouncements 13

Australian Accounting Standard AASB 1048 Interpretation of Standards (November 2024) is set out in paragraphs 1–13. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. AASB 1048 is to be read in the context of other Australian Accounting Standards, including AASB 1057 Application of Australian Accounting Standards. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.