Register / AASB 1056 Superannuation Entities / AASB 1056 paragraph 10A
Do not present AASB 18 category subtotals in a superannuation income statement
As required by AASB 18 paragraph Aus47.1, the entity does not split income and expenses across the three AASB 18 activity categories, and does not show the operating profit or loss and investing and financing subtotals that paragraph 69(a) and paragraph 69(b) define.
Why the paragraph exists
This is the AASB 1056 side of the same switch-off. It is the paragraph an auditor cites when a draft income statement still carries an operating subtotal.
In practice
Compare the draft income statement to AASB 1056 paragraph 9 and to the paragraph 69 subtotal list. Remove any subtotal that is not an AASB 1056 line.
Tell the board pack team as well as the preparer. The board pack often keeps the old subtotal for a year after the statement changes.
The mistake to avoid
The common mistake is to remove the categories but keep the operating profit label the board is used to.
Who it binds
A superannuation entity applying AASB 1056.
What to do before the date
- Confirm the entity falls in this group: Superannuation entity.
- Put the requirement into the financial statements preparation plan: do not present aasb 18 category subtotals in a superannuation income statement.
- Open a workpaper for the first evidence item: The income statement with no AASB 18 category headings or paragraph 69 subtotals.
Evidence an auditor will ask for
Dates
| Date | What it means | Applies to |
|---|---|---|
| 2027-12-31 | The instrument commences for this paragraph | superannuation |
| 2028-01-01 | First annual periods beginning on or after this date apply the Standard | superannuation |
Commencement and application are separate tests.
Cross-references
- AASB 18 paragraph Aus47.1
- AASB 1056 paragraph 9
Record note
The AASB 1056 income statement line items remain mandatory. Only the AASB 18 categories and subtotals are removed.
Questions
What does AASB 1056 paragraph 10A require in practice?
Compare the draft income statement to AASB 1056 paragraph 9 and to the paragraph 69 subtotal list. Remove any subtotal that is not an AASB 1056 line.
What is the common mistake under AASB 1056 paragraph 10A?
The common mistake is to remove the categories but keep the operating profit label the board is used to.
What evidence should be kept?
At least: The income statement with no AASB 18 category headings or paragraph 69 subtotals.; The statement preparation checklist that lists paragraphs 69(a) and 69(b) as not applied. The kit carries each one as a row with an owner column to complete.
Source
This page is our statement of the paragraph, cited so you can check it. Read F2026L01162 on legislation.gov.au.
Source pointer: AASB 1056 paragraph 10A. Record retrieved 2026-10-20.