WWW.THESIS.DISLIB.INFO
FREE ELECTRONIC LIBRARY - Online materials, documents
 
<< HOME
CONTACTS



Pages:   || 2 | 3 | 4 | 5 |   ...   | 9 |

«AASB Standard AASB 2013-9 December 2013 Amendments to Australian Accounting Standards – Conceptual Framework, Materiality and Financial Instruments ...»

-- [ Page 1 ] --

AASB Standard AASB 2013-9

December 2013

Amendments to Australian

Accounting Standards –

Conceptual Framework,

Materiality and Financial

Instruments

Obtaining a Copy of this Accounting Standard

This Standard is available on the AASB website: www.aasb.gov.au.

Alternatively, printed copies of this Standard are available for purchase by

contacting:

The Customer Service Officer

Australian Accounting Standards Board Postal address:

Level 7 PO Box 204 600 Bourke Street Collins Street West Melbourne Victoria Victoria 8007

AUSTRALIA AUSTRALIA

Phone: (03) 9617 7637 Fax: (03) 9617 7608 E-mail: publications@aasb.gov.au Website: www.aasb.gov.au Other Enquiries Phone: (03) 9617 7600 Fax: (03) 9617 7608 E-mail: standard@aasb.gov.au COPYRIGHT © Commonwealth of Australia 2013 This AASB Standard contains IFRS Foundation copyright material.

Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Director of Finance and Administration, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.

All existing rights in this material are reserved outside Australia.

Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only. Further information and requests for authorisation to reproduce for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

ISSN 1036-4803 AASB 2013-9 2 COPYRIGHT CONTENTS PREFACE

ACCOUNTING STANDARD

AASB 2013-9 AMENDMENTS TO AUSTRALIAN ACCOUNTING

STANDARDS – CONCEPTUAL FRAMEWORK, MATERIALITY AND

FINANCIAL INSTRUMENTS

Paragraphs Objective 1 2 – 21 Application Part A – Conceptual Framework General Amendments 22 23 – 25 Amendments to AASB 101 26 – 27 Amendments to AASB 108 28 – 29 Amendments to AASB 134 Amendments to AASB 1023 30 Amendments to AASB 1038 31 32 – 33 Amendments to Interpretation 115 Amendments to Interpretation 127 34 Amendments to Interpretation 131

–  –  –

IN RELATION TO PART C:

IASB IMPLEMENTATION GUIDANCE – AMENDMENTS

(available on the AASB website)

IN RELATION TO PART C:

IASB BASIS FOR CONCLUSIONS – AMENDMENTS

(available on the AASB website) Australian Accounting Standard AASB 2013-9 Amendments to Australian Accounting Standards – Conceptual Framework, Materiality and Financial Instruments is set out in paragraphs 1 – 96 and the Appendix. All the paragraphs have equal authority.

–  –  –

This Standard comprises Parts A-C, each addressed below.

Part A – Conceptual Framework Application Date Part A of this Standard applies to annual reporting periods ending on or after 20 December 2013 and when the Framework for the Preparation and Presentation of Financial Statements, as amended by AASB CF 2013-1 Amendments to the Australian Conceptual Framework, is applied. It may be applied to periods beginning on or after 1 January 2005 but ending before 20 December 2013.

Main Requirements Part A of this Standard updates references to the Framework for the Preparation and Presentation of Financial Statements (July 2004) (Framework) in particular Australian Accounting Standards (including Interpretations) as a consequence of the issue of AASB CF 2013-1 in December 2013.

Part A of this Standard makes various editorial corrections to Australian Accounting Standards.

It updates references to the Framework in a manner that is consistent with the amendments made by the International Accounting Standards Board (IASB) in its corresponding pronouncements. This includes, to be consistent with the AASB’s IFRS adoption policy, retaining references to specific superseded paragraphs of the Framework in Accounting Standards and Interpretations where the IASB has not yet updated the corresponding reference in the body of its pronouncements.

–  –  –

Main Requirements As noted in the Preface to AASB 1031 Materiality (July 2004), at the time AASB 1031 was issued, the Framework for the Preparation and Presentation of Financial Statements contained limited guidance on materiality in comparison to AASB 1031. Accordingly, as part of the AASB’s implementation of the Financial Reporting Council’s policy of adopting the Standards of the International Accounting Standards Board (IASB) for application to reporting periods beginning on or after 1 January 2005, the AASB decided to retain AASB 1031, in a revised format, to ensure that the meaning of materiality remained well explained.

The AASB has a policy of not providing unnecessary local guidance on matters covered by International Financial Reporting Standards (IFRSs). As a consequence, the AASB decided to withdraw AASB 1031 – as was proposed in AASB Exposure Draft ED 243 Withdrawal of AASB 1031 Materiality. Accordingly, the AASB is re-issuing AASB 1031 as an interim Standard that cross-references to other pronouncements that contain guidance on materiality. Part B of this Standard deletes references to AASB 1031 in various Australian Accounting Standards (including Interpretations). Once all references to AASB 1031 have been deleted from all Australian Accounting Standards, AASB 1031 will be withdrawn.





Part B of this Standard makes amendments to particular Australian Accounting Standards to delete references to AASB 1031.

Part B of this Standard makes various editorial corrections to Australian Accounting Standards.

Part C – Financial Instruments Application Date Part C of this Standard applies to annual reporting periods beginning on or after 1 January 2015.

AASB 2013-9 7 PREFACE

Main Requirements Part C of this Standard amends AASB 9 Financial Instruments to add Chapter 6 Hedge accounting and makes consequential amendments to AASB 9 and numerous other Standards. Part C also amends AASB 9 to permit requirements relating to the ‘own credit risk’ of financial liabilities measured at fair value to be applied without applying the other requirements of AASB 9 at the same time.

Furthermore, Part C of this Standard amends the mandatory effective date of AASB 9 so that AASB 9 is required to be applied for annual reporting periods beginning on or after 1 January 2017 instead of 1 January 2015.

Part C of this Standard adds to or amends the Australian Accounting Standards – Reduced Disclosure Requirements for AASB 7 Financial Instruments: Disclosures and AASB 101 Presentation of Financial Statements. AASB 1053 Application of Tiers of Australian Accounting Standards provides further information regarding the differential reporting framework and the two tiers of reporting requirements for preparing general purpose financial statements.

AASB 2013-9 8 PREFACE

ACCOUNTING STANDARD AASB 2013-9 The Australian Accounting Standards Board makes Accounting Standard AASB 2013-9 Amendments to Australian Accounting Standards – Conceptual Framework, Materiality and Financial Instruments under section 334 of the Corporations Act 2001.

–  –  –

ACCOUNTING STANDARD AASB 2013-9

AMENDMENTS TO AUSTRALIAN ACCOUNTING

STANDARDS – CONCEPTUAL FRAMEWORK,

MATERIALITY AND FINANCIAL INSTRUMENTS

Objective 1 The objective of this Standard is to make amendments to the Standards

and Interpretations listed in the Appendix:

(a) as a consequence of the issue of Accounting Framework AASB CF 2013-1 Amendments to the Australian Conceptual Framework, and editorial corrections, as set out in Part A of this Standard;

–  –  –

(c) financial statements that are, or are held out to be, general purpose financial statements.

3 In respect of AASB 101 and AASB 108, this Standard applies to:

(a) each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act;

(b) general purpose financial statements of each reporting entity; and (c) financial statements that are, or are held out to be, general purpose financial statements.

4 In respect of AASB 120 and Interpretation 110, this Standard

applies to:

(a) each for-profit entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act and that is a reporting entity;

(b) general purpose financial statements of each other for-profit reporting entity; and (c) financial statements of a for-profit entity that are, or are held out to be, general purpose financial statements.

5 In respect of AASB 134, this Standard applies to:

(a) each disclosing entity required to prepare half-year financial reports in accordance with Part 2M.3 of the Corporations Act;

(b) interim financial reports that are general purpose financial statements of each other reporting entity; and (c) interim financial reports that are, or are held out to be, general purpose financial statements.

6 In respect of AASB 1038, this Standard applies to each entity that

is:

–  –  –

(d) is an other reporting entity and prepares general purpose financial statements; or (e) prepares financial statements that are, or are held out to be, general purpose financial statements.

7 In respect of AASB 1049, this Standard applies to each government’s whole of government general purpose financial statements and GGS financial statements.

8 In respect of AASB 1050, this Standard applies to general purpose financial statements of government departments.

9 In respect of AASB 1051, this Standard applies to general purpose financial statements of local governments, government departments and whole of governments, and financial statements of GGSs.

10 In respect of AASB 1052, this Standard applies to general purpose financial statements of local governments and government departments.

11 In respect of AASB 1055, this Standard applies to:

(a) whole of government general purpose financial statements of each government;

financial statements of each government’s GGS;

(b) (c) general purpose financial statements of each not-for-profit reporting entity within the GGS; and (d) financial statements of each not-for-profit entity within the GGS that are, or are held out to be, general purpose financial statements.

12 In respect of AAS 25, this Standard applies to general purpose financial reports of each superannuation plan in the private or public sector that is a reporting entity.

–  –  –

14 In respect of Interpretation 1038, this Standard applies to public

sector entities as follows:

(a) each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act and that is a reporting entity;

(b) general purpose financial statements of each other reporting entity; and (c) financial statements that are, or are held out to be, general purpose financial statements.

15 In respect of Interpretation 1047, this Standard applies to entities

that are or include medical defence organisations as follows:

(a) each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act 2001 and that is a reporting entity;

(b) general purpose financial statements of each other reporting entity; and (c) financial statements that are, or are held out to be, general purpose financial statements.

16 Part A of this Standard applies to annual reporting periods ending on or after 20 December 2013.

17 Part A of this Standard shall be applied when Accounting Framework AASB CF 2013-1 Amendments to the Australian Conceptual Framework is applied. It may be applied to annual reporting periods beginning on or after 1 January 2005 that end before 20 December 2013, provided that AASB CF 2013-1 and AASB 1048 Interpretation of Standards (December 2013) are also applied to the same period. When an entity applies Part A of this Standard to such an annual reporting period, it shall disclose that fact.

18 Part B of this Standard applies to annual reporting periods beginning on or after 1 January 2014. Early adoption of Part B of this Standard is not permitted.

–  –  –

20 Part C of this Standard may be applied to annual reporting periods ending on or after 31 December 2009 that begin before 1 January 2015, except that the amendments to AASB 9 (December 2010) and AASB 2010-7 may be applied early only as set out in those Standards.

21 This Standard uses underlining, striking out and other typographical material to identify some of the amendments to a Standard or an Interpretation, in order to make the amendments more understandable. However, the amendments made by this Standard do not include that underlining, striking out or other typographical material.

AASB 2013-9 13 STANDARD Part A – Conceptual Framework General Amendments The reference to the “Framework for the Preparation and Presentation of Financial Statements” or to the “Framework” is amended to refer to the “Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards)”

in each Accounting Standard or Interpretation listed in the table below:

–  –  –

and a footnote is added against each of those references, as follows:

In December 2013 the AASB amended the Framework for the Preparation and Presentation of Financial Statements.

Amendments to AASB 101 In paragraph 7, a footnote is added against the phrase “The Framework for the Preparation and Presentation of Financial Statements states in paragraph 25” that is in the text immediately following the definition



Pages:   || 2 | 3 | 4 | 5 |   ...   | 9 |


Similar works:

«Primer Premier 6.0 Manual PREMIER Biosoft International 3786 Corina Way, Palo Alto, CA 94303-4504 Tel: (650) 856-2703 FAX: (650) 618-1773 E-mail: sales@premierbiosoft.com Copyright © 2009 by PREMIER Biosoft International. All Rights Reserved. Information in this manual may change without notice and does not represent a commitment on the part of PREMIER Biosoft International. The software described in this manual is provided by PREMIER Biosoft International under a License Agreement. The...»

«American Legion Auxili Convention April 22 24, 010 Oilers Hal APRIL 22 2 10 The 88th Annual Convention of the American Legion uxiliary, Department of Alaska was called to order by Department President Francisca Guilford at 11:45 a.m. Acting Sgt-at-Arms Penny Mazonna oversaw the Pres ntation of Colors Acting Chaplain Christie Hill gave the invocation. Department First Vice-President Lynn Bash led the PI dge of Allegiance with all Auxiliary members singing the National Anthem led by the Juni r...»

«Contingency Routes: Somali Financial Flows and Transnational Spaces between Kenya and Uganda Researcher: Gianluca Iazzolino Introduction Since the collapse of the Somali state in 1991, the Somali diaspora has been forced to navigate a very volatile landscape. Neighbouring countries in East Africa, particularly Kenya, have been prime recipients of waves of displaced persons from Somalia. Macro-level factors— such as the so-called War on Terror—have interacted with national refugee regimes...»

«Special Collections, University of Waterloo Library Finding Aid : GA 1 International Press Bureau fonds. © Special Collections, University of Waterloo Library GA 1 : International Press Bureau. Special Collections, University of Waterloo Library. Page 1 GA 1 : International Press Bureau International Press Bureau fonds. 1904-1953. 10.5 m of textual records. The International Press Bureau was a literary agency in Chicago, Ill. owned first by William Gerard Chapman and after his death by his son...»

«Educ Asse Eval Acc DOI 10.1007/s11092-012-9146-6 Working with error and uncertainty to increase measurement validity Audrey Amrein-Beardsley & Joshua H. Barnett Received: 14 January 2012 / Accepted: 19 March 2012 # Springer Science+Business Media, LLC 2012 Abstract Over the previous two decades, the era of accountability has amplified efforts to measure educational effectiveness more than Edward Thorndike, the father of educational measurement, likely would have imagined. Expressly, the...»

«When Americans Think About Constitutional Reform: Some Data and Reflections SANFORD V. LEVINSON WILLIAM D. BLAKE† TABLE OF CONTENTS I. IN LOVE WITH STATE CONSTITUTIONS II. ANALYZING STATE CONVENTION CALL REFERENDA. 218 A. Referendum Timing: Presidential Elections Compared to Off Years B. Ballot Language: What Does the Ballot Ask Voters?. 221 C. How Often?: The Impact of Referenda Frequency. 223 D. Analyzing the Data: Regression Analysis III. THE END OF THE AGE OF CONVENTIONS? IV....»

«Surface electronic structure of the topological Kondo insulator candidate correlated electron system SmB6 M. Neupane,1 N. Alidoust,1 S.-Y. Xu,1 T. Kondo,2 Y. Ishida,2 D.J. Kim,3 Chang Liu,1 I. Belopolski,1 Y. J. Jo,4 T.-R. Chang,5 H.-T. Jeng,5, 6 T. Durakiewicz,7 arXiv:1312.1979v2 [cond-mat.str-el] 30 Dec 2013 L. Balicas,8 H. Lin,9 A. Bansil,9 S. Shin,2 Z. Fisk,3 and M. Z. Hasan1, 10 Joseph Henry Laboratory and Department of Physics, Princeton University, Princeton, New Jersey 08544, USA ISSP,...»

«Suite 760 – 669 Howe Street Vancouver, British Columbia V6C 0B4 604-623-4700 1-888-600-2200 Management Information Circular Dated this 16th day of March, 2016 Report to Shareholders March 16, 2016 Nevsun had a great 2015 despite challenging market conditions. We continue to deliver value for our shareholders. We remain profitable despite the significant downturn in the industry and we continue to deliver on our objectives. Our strategy is concise, straight forward and has been well...»

«doi:10.7592/FEJF2003.24.verbcharm TOWARDS A POETICS, RHETORICS AND PROXEMICS OF VERBAL CHARMS Jonathan Roper This article is intended as a first attempt to assemble and, where necessary, to newly devise, a series of terms which can be used to indicate the poetical features1 and rhetorical structures and devices typically present in the words of a charm, and also the proxemic manoeuvres employed in the “performance” of charms.2 In the English-speaking world academic investigations into...»

«Africa Tuning and Harmonisation of Higher Education: The African Experience Tuning and Harmonisation of Higher Education: The African Experience Tuning Africa Project Tuning and Harmonisation of Higher Education: The African Experience Charles Awono Onana, Olusola Bandele Oyewole, Damtew Teferra, Pablo Beneitone, Julia González and Robert Wagenaar (Editors) University of Deusto Bilbao The Tuning project is subsidised by the European Commission. This publication reflects only the opinion of its...»

«GUIDELINES FOR SUBMITTING PAPERS FOR THE ELECTRONIC PROCEEDINGS An electronic book will be published of papers presented at ESERA 2015. The eProceedings will be published in the ESERA Conference Proceedings series. This will be the fourth publication in this series, titled Science Education Research: Engaging learners for a sustainable future. ISBN 978-951-51-1541-6. (Editors: Jari Lavonen, Kalle Juuti, Jarkko Lampiselkä, Anna Uitto & Kaisa Hahl) There are two prerequisites for papers to be...»

«Bayesian Statistical Inference and Approximate Truth Olav B. Vassend October 28, 2016 Abstract Scientists and Bayesian statisticians often study hypotheses that they know to be false. This creates an interpretive problem because the Bayesian probability of a hypothesis is supposed to represent the probability that the hypothesis is true. I investigate whether Bayesianism can accommodate the idea that false hypotheses are sometimes approximately true or that some hypotheses or models can be...»





 
<<  HOME   |    CONTACTS
2017 www.thesis.dislib.info - Online materials, documents

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.