Federal Register of Legislation
Compiled AASB Standard AASB 1
First-time Adoption of Australian Accounting Standards
This compiled Standard applies to annual periods beginning on or after 1 January 2025 but before 1 January 2026. Earlier application is permitted for for-profit entities for annual periods beginning on or after 1 January 2018 but before 1 January 2025. Earlier application is permitted for not-for-profit entities for annual periods beginning on or after 1 January 2019 but before 1 January 2025. It incorporates relevant amendments made up to and including 9 October 2023.
Prepared on 5 March 2025 by the staff of the Australian Accounting Standards Board.
Compilation no. 7
Compilation date: 31 December 2024
Obtaining copies of Accounting Standards Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: aasb.gov.au and standards.aasb.gov.au. Australian Accounting Standards Board PO Box 204 Collins Street West Victoria 8007 AUSTRALIA Phone: (03) 9617 7600 E-mail: standard@aasb.gov.au Website: www.aasb.gov.au
Other enquiries Phone: (03) 9617 7600 E-mail: standard@aasb.gov.au
COPYRIGHT © Commonwealth of Australia 2025 This compiled AASB Standard contains IFRS Foundation copyright material. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007. All existing rights in this material are reserved outside Australia. Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only. Further information and requests for authorisation to reproduce IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.
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