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AASB 108 - Accounting Policies, Changes in Accounting Estimates and Errors
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Summary 
Developments, Key Differences & History 
Compared to IFRS 
Interpretations 
Rejection Notices 
Questions & Answers 
Articles 
AASB website 

 
AASB 108 compared to IAS 8 
 
Additions  
 
Aus 2.1 
Which entities AASB 108 applies to.  
 
Aus 2.2 
The application date of AASB 108, ie. annual periods beginning 1 January 2005.  
 
Aus 2.3 
Prohibits early application of AASB 108.  
 
Aus 2.4 
Makes the requirements of AASB 108 subject to AASB 1031 Materiality. 
 
Aus 2.5 
Explains which Standards have been superseded by AASB 108. 
 
Aus 2.6 
Clarifies that the superseded Standards apply until AASB 108 applies.  
 
Aus 2.7 
Notice of Standard published as required on 22 July 2004. 
 
Aus 2.8  
Clarifies that a requirement in an Australian Accounting Standard to restate comparative information does not mean that the original financial report for the preceding period must be replaced.  
 
Deletions 
 
54  
Effective date of IAS 8 not relevant to Australia  
 
55 
Reference to superseded IAS 8  
 
56 
Reference to superseded SIC 2 Consistency – Capitalisation of Borrowing Costs and SIC 18 Consistency - Alternative Methods  
 
Appendix  
Sets out consequential amendments made to other International Standards, which are relevant to the version of IAS 8 applicable to 2005.