Document ID: chunk:federal_register_of_legislation:F2022C00554:body:0:p1
Version: federal_register_of_legislation:F2022C00554
Segment Type: other
Provision Reference: 
Character Range: 0–3361

Compiled AASB Standard  AASB 1059

Service Concession Arrangements: Grantors

This compiled Standard applies to annual periods beginning on or after 1 January 2022.  Earlier application is permitted for annual periods beginning before 1 January 2022.  It incorporates relevant amendments made up to and including 20 December 2021.

Prepared on 7 April 2022 by the staff of the Australian Accounting Standards Board.

Compilation no. 5

Compilation date:  31 December 2021

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: www.aasb.gov.au.
Australian Accounting Standards Board
PO Box 204
Collins Street West
Victoria   8007
AUSTRALIA
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

Other enquiries
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au

COPYRIGHT
© Commonwealth of Australia 2022
Publication based on a Final IFAC Publication

This compiled AASB Standard is based on International Public Sector Accounting Standard IPSAS 32 Service Concession Arrangements: Grantor of the International Public Sector Accounting Standards Board (IPSASB), published by the International Federation of Accountants (IFAC) in April 2016, and is used with permission of IFAC.

Reproduction within Australia in English 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 should be addressed to The National Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007, Australia. The AASB acknowledges that IFAC is the owner of copyright in the IPSAS incorporated in this Australian Standard throughout the world.

All other existing rights in this material are reserved outside Australia. Further information and requests for authorisation to reproduce for commercial purposes outside Australia should be addressed to the International Federation of Accountants at permissions@ifac.org.

Contents

COMPARISON WITH INTERNATIONAL PRONOUNCEMENTS
ACCOUNTING STANDARD
AASB 1059 Service Concession Arrangements: Grantors

from paragraph
Objective 1
Scope 2
Recognition and measurement of service concession assets 5
Recognition and measurement of liabilities 11
Financial liability model 15
Grant of a right to the operator model 21
Dividing the arrangement 24
OTHER LIABILITIES, COMMITMENTS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS 26
OTHER REVENUES 27
PRESENTATION AND DISCLOSURE 28
Commencement of the legislative instrument
Appendices
A  Defined terms
B  Application guidance
C  Effective date and transition
D  Amendments to other Standards
E  Australian simplified disclosures for Tier 2 entities
IMPLEMENTATION GUIDANCE
ILLUSTRATIVE EXAMPLES
COMPILATION DETAILS

BASIS FOR CONCLUSIONS
BASIS FOR CONCLUSIONS ON AASB 2019-2
BASIS FOR CONCLUSIONS ON AASB 2021-4

Australian Accounting Standard AASB 1059 Service Concession Arrangements: Grantors (as amended) is set out in paragraphs 1 – 29 and Appendices A – E.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  Terms