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AASB 111 - Construction Contracts

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Summary 
Developments, Key Differences & History 
Compared to IFRS 
Interpretations 
Rejection Notices 
Questions & Answers 
Articles 
AASB website 

 
Additions 
Aus 1.1 
Which entities AASB 111 applies to, ie. reporting entities and general purpose financial reports.  
 
Aus 1.2 
The application date of AASB 111, ie. annual reporting periods beginning 1 January 2005.  
 
Aus 1.3 
Prohibits early application of AASB 111.  
 
Aus 1.4 
Makes the requirements of AASB 111 subject to AASB 1031 Materiality.  
 
Aus 1.5 
Explains which Australian Standards have been superseded by AASB 111.  
 
Aus 1.6 
Clarifies that the superseded Australian Standards remain in force until AASB 111 applies.  
 
Aus 1.7 
Notice of the new Standard on 22 July 2004.  
 
Deletions  
2 
Reference to superseded IAS 11.  
 
46 
Effective date of IAS 11.