Register / AASB 18 Presentation and Disclosure in Financial Statements / AASB 18 paragraph AusB8.2
Keep the AASB 1049 line items against the B8 guidance
The paragraph B8 guidance does not displace the AASB 1049 line set. The government presents every relevant line item that AASB 1049 requires in its primary financial statements.
Why the paragraph exists
It is the application guidance counterpart to Aus23.2 and the place where a preparer may try the B8 argument.
In practice
Use one mapping for the whole of government statements and a separate one for the general government sector. The line sets are not identical, and the paragraph applies to both.
Retain the paragraph B8 consideration note with the mapping. A reviewer will ask why a prescribed line was combined, and the answer needs to be in the file.
The mistake to avoid
The common mistake is to apply the B8 judgement to a line that AASB 1049 prescribes for the statement.
Who it binds
A government applying AASB 1049.
What to do before the date
- Confirm the entity falls in this group: Government (AASB 1049).
- Put the requirement into the financial statements preparation plan: keep the aasb 1049 line items against the b8 guidance.
- Open a workpaper for the first evidence item: The AASB 1049 line item mapping required by Aus23.2, with any B8 argument recorded.
Evidence an auditor will ask for
Dates
| Date | What it means | Applies to |
|---|---|---|
| 2027-12-31 | The instrument commences for this paragraph | government |
| 2028-01-01 | First annual periods beginning on or after this date apply the Standard | government |
Commencement and application are separate tests.
Cross-references
- AASB 18 paragraphs 23, B8 and Aus23.2
- AASB 1049
Record note
This paragraph is consistent with Aus23.2 and does not add a separate test.
Questions
What does AASB 18 paragraph AusB8.2 require in practice?
Use one mapping for the whole of government statements and a separate one for the general government sector. The line sets are not identical, and the paragraph applies to both.
What is the common mistake under AASB 18 paragraph AusB8.2?
The common mistake is to apply the B8 judgement to a line that AASB 1049 prescribes for the statement.
What evidence should be kept?
At least: The AASB 1049 line item mapping required by Aus23.2, with any B8 argument recorded. 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 18 paragraph AusB8.2. Record retrieved 2026-10-20.