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Tables for new Standards and Interpretations for 2008

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Table 1: Table for standards mandatory at 30 June 2008 
 
Table 1 lists all the Accounting Standards and Interpretations that have become mandatory for financial reports prepared for 30 June 2008 year ends over the last 12 months. It also includes references to where you may find more information about the new requirements  
 
A complete list of all the standards that apply mandatorily to 30 June 2008 is available on the AASB website AASB website in table form.  
This table lists all the standards in numeric order and provides the compiled versions of their text, incorporating ALL the amendments made by the omnibus standards issued and effective up to this date. 
 
Table 2: Table for standards Issued but not yet Operative for financial years ended 30 June 2008 
 
Table 2A lists all the Accounting Standards and Interpretations issued to date but which were not operative at 30 June 2008 and therefore do not need to be mandatorily applied. It is split into 2 parts. Part A deals with standards issued by the AASB to date and Part B deals with standards issued by the IASB and IFRIC but not yet adopted by the AASB. 
 
The AASB standards can be early adopted if the entity chooses, but the IFRS standards cannot as they are not yet approved as legislative instruments for use in Australia. The tables will also assist members in preparing their “issued but not yet operative disclosures” under paragraph 30 of AASB 108 Accounting policies, Changes in Accounting Estimates and Errors. Both the AASB and IASB standards may need to be referred to in this disclosure.  
 
Public sector and not-for-profit entities that take advantage of the Aus paragraphs in the AASB standards only need to disclose the impact of the standards in Table 2A because they cannot make a statement of compliance with IFRS. 
 
Table 2B includes standards and interpretations issued by the IASB but not yet issued by the AASB. These will assist those entities making a statement of compliance with IFRS to ensure that their AASB 108 disclosures also comply with the equivalent requirements of IAS 108. Private sector for-profit entities will generally have to make this disclosure. 

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Recommendation: Implement a error handling routine within the component and return the result as a string or debug directly.