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



Pages:     | 1 || 3 | 4 |   ...   | 9 |

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

-- [ Page 2 ] --

of ‘material’, as follows:

In December 2013 the AASB amended the Framework for the Preparation and Presentation of Financial Statements. The Framework is identified in AASB 1048 Interpretation of Standards.

Paragraph 25 was superseded by Chapter 3 of the Framework.

–  –  –

Paragraphs 15–24 contain references to the objective of financial statements set out in the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048). In December 2013 the AASB amended the Framework, and thereby replaced the objective of financial statements with the objective of general purpose financial reporting: see Chapter 1 of the Framework.

In paragraphs 28 and 89, a footnote is added against the phrase “the

Framework”, as follows:

The Framework for the Preparation and Presentation of Financial Statements was amended by the AASB in December 2013.

Amendments to AASB 108 In paragraph 6, a footnote is added against the phrase “The Framework for the Preparation and Presentation of Financial Statements (the

Framework) states in paragraph 25”, as follows:

In December 2013 the AASB amended the Framework for the Preparation and Presentation of Financial Statements. The Framework is identified in AASB 1048 Interpretation of Standards.

Paragraph 25 was superseded by Chapter 3 of the Framework.

In paragraph 11, a footnote is added against the phrase “the

Framework”, as follows:

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

STANDARD – PART A AASB 2013-9 15 Amendments to AASB 134 28 Paragraph 31 is amended as follows (new text is underlined and

deleted text is struck through):

31 Under the Framework for the Preparation and Presentation of Financial Statements (the Framework) (as identified in AASB 1048 Interpretation of Standards)1, recognition is the “process of incorporating in the statement of financial position balance sheet or statement of comprehensive income statement an item that meets the definition of an element and satisfies the criteria for recognition”. … _______________________

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

29 Paragraph 33 is amended as follows (new text is underlined and

deleted text is struck through):

… The Framework says that “expenses are recognised in the statement of comprehensive income statement when a decrease in future economic benefits related to a decrease in an asset or an increase of a liability has arisen that can be measured reliably....

[The] Framework does not allow the recognition of items in the statement of financial position balance sheet which do not meet the definition of assets or liabilities”.

Amendments to AASB 1023 30 Paragraph 17.6.4 is amended as follows (new text is underlined and

deleted text is struck through):

17.6.4 When an insurer is presenting the disclosures required by paragraphs 17.6.1(c) and 17.6.1(d) the insurer determines the level and extent of disclosure that is appropriate having regard to its circumstances and the qualitative characteristics of financial statements under the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards) of understandability, relevance, reliability and comparability.

STANDARD – PART A AASB 2013-9 16 Amendments to AASB 1038 31 Paragraph 14.1.7 is amended as follows (new text is underlined and

deleted text is struck through):

14.1.7 When an insurer is presenting the disclosures required by paragraphs 14.1.1(c) and 14.1.1(d) the insurer determines the level and extent of disclosure that is appropriate having regard to its circumstances and the qualitative characteristics of financial statements under the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards) of understandability, relevance, reliability and comparability.

Amendments to Interpretation 115 In paragraph 7, a footnote is added against the phrase “Paragraph 35 of the Framework for the Preparation and Presentation of Financial

Statements”, as follows:

In December 2013 the AASB amended the Framework. Paragraph 35 was superseded by Chapter 3 of the Framework. References to the Framework in this Interpretation are to the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards).

In paragraph 8, a footnote is added against the phrase “Paragraph 22 of

the Framework”, as follows:

In December 2013 the AASB amended the Framework. Paragraph 22 was deleted.

Amendments to Interpretation 127 In paragraph 13, a footnote is added against the phrase “paragraph 35

of the Framework”, as follows:

In December 2013 the AASB amended the Framework. Paragraph 35 was superseded by Chapter 3 of the Framework. References to the Framework in this Interpretation are to the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards).





STANDARD – PART A AASB 2013-9 17 Amendments to Interpretation 131 In paragraph 7, a footnote is added against the phrase “Paragraph 31 of the Framework for the Preparation and Presentation of Financial

Statements”, as follows:

In December 2013 the AASB amended the Framework for the Preparation and Presentation of Financial Statements. References to the Framework in this Interpretation are to the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards). Paragraph 31 was superseded by Chapter 3 of the Framework.

Amendments to Interpretation 1031 36 Paragraph 21 is amended as follows (new text is underlined, and

deleted text is struck through):

… This Interpretation reflects the view that in these cases the GST is not part of the cost of the asset acquired or the expense incurred. This is consistent with the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards), which states that ‘expenses are recognised in the income statement of comprehensive income when a decrease in future economic benefits related to a decrease in an asset or an increase of a liability has arisen that can be measured reliably.’ …

–  –  –

38 Except in relation to Interpretations 1, 6, 7, 9, 10, 12, 13, 14, 16, 19, 20, 21, 107, 110 and 125, a note is added against the paragraph number

of each paragraph deleted as specified in paragraph 37, as follows:

–  –  –

Amendments to AASB 134 39 Paragraph 24 is amended as follows (new text is underlined and

deleted text is struck through):

24 In deciding whether an item is material, its nature and amount usually need to be evaluated together. AASB 1031 Materiality provides guidance on the role of materiality in making judgements in the preparation and presentation of financial statements. AASB 101 and AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors define an item as material if its omission or misstatement could influence the economic decisions of users of the financial statements.

AASB 101 requires separate disclosure of material items, including (for example) discontinued operations, and AASB 108 requires disclosure of changes in accounting estimates, errors and changes in accounting policies. The two Standards do not contain quantified guidance as to materiality.

Amendments to AASB 1023 40 Paragraph 1.4.1 is deleted and a note added as follows:

1.4.1 [Deleted by the AASB] Amendments to AASB 1038 41 Paragraph 1.4.1 is deleted and a note added as follows:

1.4.1 [Deleted by the AASB]

–  –  –

20 Judgement is required to identify those activities of a government department that warrant separate disclosure in the complete set of financial statements. Exercising this judgement involves a consideration of the following: …

–  –  –

Amendments to AAS 25 Paragraphs 8 and 9, and the heading “Application of Materiality”, are

deleted. A note concerning each paragraph is added as follows:

8 [Deleted by the AASB]

–  –  –

44 Paragraph 38 is amended as follows (deleted text is struck through):

… In establishing net market values of assets it may be necessary to exercise judgement in respect of determining such

matters as:

–  –  –

Amendments to AASB 4 46 The second sentence of paragraph B7(b) in Appendix B is amended to

read as follows:

That approach is also acceptable under this Standard, which permits the service provider (i) to continue its existing accounting policies for these contracts unless they involve practices prohibited by paragraph 14 and (ii) to improve its accounting policies if so permitted by paragraphs 22-30.

Amendments to AASB 5 The text “Australian equivalent to IFRSs.” in paragraph Aus42.1 is amended to “Australian Accounting Standard.”.

Amendments to AASB 7 48 Paragraph Aus2.9(e) is deleted.

Amendments to AASB 101 49 Paragraphs 7, 33, 47, 113 and 114(c) are amended as follows (new text

is underlined and deleted text is struck through):

–  –  –

… Notes contain information in addition to that presented in the statement of financial position, statement(s) of profit or loss and other comprehensive income, separate income statement (if presented), statement of changes in equity and statement of cash flows. …

–  –  –

33 An entity reports separately both assets and liabilities, and income and expenses. Offsetting in the statement(s) of profit or loss and other comprehensive income or financial position or in the separate income statement (if presented), except when offsetting reflects the substance … 47 This Standard requires particular disclosures in the statement of financial position or the statement(s) of profit or loss and other comprehensive income, in the separate income statement (if presented), or in the statement of changes in equity … 113 An entity shall, as far as practicable, present notes in a systematic manner. An entity shall cross-reference each item in the statements of financial position and in the statement(s) of profit or loss and other comprehensive income, in the separate income statement (if presented), and in the statements of changes in equity …

–  –  –

The text “81A-81B” in paragraph 139J is amended to read “81A, 81B”.

Amendments to AASB 112 The text “other start up costs” in paragraph 5 of Example B in the Illustrative Examples accompanying AASB 112 is amended to read “other start-up costs”.

Amendments to AASB 121 The text “in which the foreign operation is consolidated, or accounted for” in paragraph 33 is amended to read “in which the foreign operation is consolidated or accounted for”.

–  –  –

Amendments to AASB 132 The comma after ‘associates’ in the first sentence of paragraph 4(a) is deleted.

The heading “Offsetting a Financial Asset and a Financial Liability (see also paragraphs AG38 and AG39)” immediately before paragraph 42 is amended to “Offsetting a Financial Asset and a Financial Liability (see also paragraphs AG38A-AG38F and AG39)”.

The text “derivates” in paragraph AG30 in the Application Guidance is amended to “derivatives”.

Amendments to AASB 1049 57 Paragraph 14(d) is deleted.

58 The reference to AASB 127 in paragraph 44(b) is amended to AASB 10.

Amendments to Interpretation 12 59 Appendix B Amendments to AASB 1 and to Other Interpretations accompanying Interpretation 12 is deleted.

Amendments to Interpretation 14 The heading “Effective Date of IFRIC 14” before paragraph 27 is amended to read “Effective Date”.

–  –  –

Amendments to AASB 2009-11 62 Paragraphs 5 and 6 of AASB 2009-11 are amended to read as follows:

5 This Standard applies to annual reporting periods beginning on or after 1 January 2017.

6 This Standard shall be applied when AASB 9 (December 2009) is applied. This Standard may be applied to annual reporting periods ending on or after 31 December 2009 that begin before 1 January 2017 provided AASB 9 (December 2009) is also applied for the same period.

When an entity applies this Standard to such an annual reporting period, it shall disclose that fact.

STANDARD – PART C AASB 2013-9 26 Amendments to AASB 9 (December 2010) 63 Paragraphs Aus1.3 and Aus1.7 of AASB 9 (December 2010) are

amended to read as follows:

Aus1.3 This Standard applies to annual reporting periods beginning on or after 1 January 2017. Earlier application is permitted. However, if an entity elects to apply this Standard early and has not already applied AASB 9 Financial Instruments issued in December 2009 (as amended), it must apply all of the requirements in this Standard at the same time (but see also paragraph Aus1.7 of this Standard). If an entity applies this Standard in its financial statements for a period beginning before 1 January 2017, it shall disclose that fact and at the same time apply the amendments in AASB 2010-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2010) (as amended).1

–  –  –

64 In Chapter 4, sections 4.2 and 4.4 are amended to read as follows (amended paragraphs are set out in full, paragraphs not included are

not amended by Part C of this Standard):



Pages:     | 1 || 3 | 4 |   ...   | 9 |


Similar works:

«1 CURRICULUM VITA Anna Nagurney John F. Smith Memorial Professor Department of Operations and Information Management Isenberg School of Management University of Massachusetts Amherst, MA 01003 (413) 545-5635 Education Ph.D., Brown University, June, 1983, in Applied Mathematics specializing in Operations Research, Thesis Title Stability, Sensitivity Analysis, and the Computation of Competitive Network Equilibria, Thesis Advisor Stella Dafermos Sc.M., Brown University, 1980, in Applied...»

«58-25 Queens Blvd., Woodside, NY 11377 T: (718)280-5000; (800) 627-1244 F: (718) 204-4726 E:info@classicescapes.com W: www.classicescapes.com Nature & Cultural Journeys for the Discerning Traveler WASHINGTON UNIVERSITY OF SAINT LOUIS CORDIALLY INVITES YOU ON A CULINARY & CULTURAL TOUR TO DISCOVER THE FLAVORS OF THAILAND A SPICY ADVENTURE IN THAI CUISINE NOVEMBER 4 TO 16, 2016 THAILAND~ AN OVERVIEW From market to table, learn about key elements of Thai cooking: purchase fresh produce at a local...»

«TATTVA DARSANA Quarterly IN THIS ISSUE Editorial: Hinduizing the Hindus Sadhu Rangarajan 2 Sadhu Prof. V. Rangarajan’s South Africa Visit 2014—Tributes and Messages 5 Sadhu’s Dharma Prachar Yatra in South Africa—A brief Report 14 Strength in Unity (Article by Sadhu in THE POST) 23 Sadhuji’s Return Visit to South Africa –Kashmira Nirghin 28 A Beggar Who Owns the World “HINDUISM TODAY” 32 Glimpses Of A Great YogiPart II Sadhu Prof. V. Rangarajan 35 News and Notes 46 Front Cover:...»

«AFRL-RX-WP-TP-2008-4043 DETECTION OF INCIPIENT THERMAL DAMAGE IN POLYMER MATRIX COMPOSITES (PREPRINT) Eric Lindgren, John Welter, Shamachary Sathish, and Erik Ripberger Nondestructive Evaluation Branch Metals, Ceramics & Nondestructive Evaluation Division DECEMBER 2006 Approved for public release; distribution unlimited. See additional restrictions described on inside pages STINFO COPY AIR FORCE RESEARCH LABORATORY MATERIALS AND MANUFACTURING DIRECTORATE WRIGHT-PATTERSON AIR FORCE BASE, OH...»

«Providing equity of critical and maternity care for the critically ill pregnant or recently pregnant woman July 2011 Providing equity of critical and maternity care for the critically ill pregnant or recently pregnant woman | July 2011 Contents Introduction to document  3 Background  3 Aims and objectives  3 How many women require maternal critical care?  3 What is maternal critical care?  5 Care of the critically ill parturient in different settings  6 Standards for the recognition...»

«QUICK REFERENCE GUIDE ITU MEDIA CONTACTS ERIN GREENE Media Manager, ITU Communications Erin.greene@triathlon.org Office: + 34 915 421 855 Mob: +34 645 216 509 FERGUS MURRAY Senior Producer, ITU TV & Broadcast Fergus.murray@triathlon.org Office: +1 604 904 9248 CARSTEN RICHTER Lagadere Senior Director TV Rights crichter@lagardere-unlimited.de Direct: +49 40 88 00 73 Mob: +49 170 56 39 008 ITU MEDIA CENTRE | media.triathlon.org ITU’s Online Media Centre has been produced to provide a portal for...»

«The House of Morgan Pty. Limited. Terms and Conditions of Letting Please read these Terms and Conditions and consider them carefully before completing your booking. The Terms and Conditions of holiday letting as agreed by both parties are as follows. To Make a Booking To secure the booking a 50% deposit must be paid to confirm the rdates requested. Nonpayment of this deposit will be deemed a cancellation of the booking. The balance of booking fee will become due and payable thirty (30) days...»

«77’eren NETMAGASIN FOR HJEMMEVÆRNSESKADRILLE 277 KARUP nr. 7 2012 4. årgang Jagten på ISAF 14 Fra det gamle arkiv Her kommer Jan Bunker By Night med kost og spand Værn om fanen Elise T. Christensen Storåvej 71, 7400 Herning Telefon: 9722 2026 2069 4403 Michael Konstantin Voegeding Hvalpsundvej 20, 9600 Års Telefon: 9866 1010 6017 8021 Jonna Nygård Vindelevgård 78, 7830 Vinderup Telefon: 9744 2763 4142 7691 Poul Hegelund Blegsø Banke 16, 8660 Skanderborg Chefens Klumme Side 03...»

«Micro Focus Welcome to Customer Care Micro Focus Customer Care Contents Welcome to Micro Focus Customer Care Our Services Getting Started Electronic Product Delivery Licensing your product Contacting Customer Care Registering for the SupportLine web portal Reporting a Support Incident (SI) Support Incident Closure Customer Care escalation process Hours of Operation ‘Critical’ consulting support coverage Introducing the Customer Care SupportLine web portal About the Knowledge Base Annex 1...»

«Consequences of extended maceration for red wine colour and phenolics FINAL REPORT to GRAPE AND WINE RESEARCH & DEVELOPMENT CORPORATION Project Number: UA 05/03 Principal Investigator: Christopher M Ford Research Organisation: The University of Adelaide Date: 13 June 2008 Project Summary – UA 05/03 Project supervisor: Christopher M Ford Chief investigator: Venetia Joscelyne Project Title: Consequences of extended maceration for red wine colour and phenolics Executive summary During red...»

«Project Number: MWJ-AAQH The Urban Whale A Serious Game about the North Atlantic Right Whale, And a Template for Future Endangered Species Games A Major Qualifying Project Report: Submitted to the faculty of the WORCESTER POLYTECHNIC INSTITUTE in partial fulfillment of the requirements for the Degree of Bachelor of Science By Kyle Bryant Timothy Bujnevicie Patrick Petersen Adam Prueitt Michael Racine Date: April 30, 2015 Approved: Joseph Farbrook, Advisor Jennifer McWeeny, Advisor...»

«Theatre Royal Nelson Volunteer Usher Guidebook The Theatre Royal’s volunteer ushers are an integral part of the front of house staff and work with the Front of House Manager in welcoming, providing guidance, safety and comfort of all patrons. We strive to ensure that each and every patron has a wonderful experience and our ushers are key to that effort. A positive attitude is essential! We ask for and appreciate your adherence to our policies, procedures and protocols. Your hard work keeps...»





 
<<  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.