AASB 18 Presentation and Disclosure in Financial Statements 33-40: Reclassify comparatives when presentation changes, disclose the nature, amount and reason, and present a third statement of financial position when a retrospective change is material

What does 33-40 require?

When the entity alters how items are presented, disclosed or classified it must reclassify the comparative amounts unless impracticable, and disclose the nature of the reclassification, the amount for each item or class, and the reason, including as at the start of the preceding period; where reclassification is impracticable it must explain why and describe the adjustments it would otherwise have made. An opening balance sheet (as at the start of the preceding period) is required when a retrospective policy change, restatement or reclassification materially affects that opening position; the entity then presents three balance sheets, discloses the reclassification information and the AASB 108 disclosures, but need not provide notes to the opening statement.