AASB issues Australian amendment for disclosure initiative

AASB issues Australian amendment for disclosure initiative on additional cash flow statement disclosures

In line with the International Accounting Standards Board’s January 2016 release of amendments to IAS 7 Statement of Cash Flows, the Australian Accounting Standards Board, in March 2016, issued AASB 2016-2 Amendments to Australian Accounting Standards – Disclosure Initiative: Amendments to AASB 107.

The changes require additional disclosures about changes in an entity’s financing liabilities arising from both cash flow and non-cash flow items.

For more details, refer to February Accounting News article, More cash flow statement disclosures – Changes to IAS 7.