Document ID: chunk:federal_register_of_legislation:F2024L01194:body:0:p4
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If an entity applies those amendments for an earlier period, it shall disclose that fact.

Appendix B
Application guidance
Paragraph B38 is amended.  New text is underlined and deleted text is struck through.

Derecognition (paragraphs 42C–42H)
 ...

Gain or loss on derecognition (paragraph 42G(a))
B38 Paragraph 42G(a) requires an entity to disclose the gain or loss on derecognition relating to financial assets in which the entity has continuing involvement.  The entity shall disclose if a gain or loss on derecognition arose because the fair values of the components of the previously recognised asset (ie the interest in the asset derecognised and the interest retained by the entity) were different from the fair value of the previously recognised asset as a whole.  In that situation, the entity shall also disclose whether the fair value measurements included significant unobservable inputs that were not based on observable market data, as described in paragraphs 72–73 of AASB 13 paragraph 27A.

Amendments to AASB 9

Chapter 2 Scope
Paragraph 2.1 is amended.  New text is underlined and deleted text is struck through.

2.1 This Standard shall be applied by all entities to all types of financial instruments except:
(a) ...
(b) rights and obligations under leases to which AASB 16 Leases applies.  However:
(i) finance lease receivables (ie net investments in finance leases) and operating lease receivables recognised by a lessor are subject to the derecognition and impairment requirements of this Standard;
(ii) lease liabilities recognised by a lessee are subject to the derecognition requirements in paragraphs paragraph 3.3.1 and 3.3.3 of this Standard; and
(iii) ...

Chapter 5 Measurement
Paragraph 5.1.3 is amended.  New text is underlined and deleted text is struck through.

5.1 Initial measurement
…
5.1.3 Despite the requirement in paragraph 5.1.1, at initial recognition, an entity shall measure trade receivables at the amount determined by applying their transaction price (as defined in AASB 15) if the trade receivables do not contain a significant financing component in accordance with AASB 15 (or when the entity applies the practical expedient in accordance with paragraph 63 of AASB 15).

Chapter 7 Effective date and transition
Paragraphs 7.1.14 and 7.2.50 and the subheading before paragraph 7.2.50 are added.  For ease of reading, these paragraphs and the subheading have not been underlined.

7.1 Effective date
 ...
7.1.14 AASB 2024-3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11, issued in September 2024, amended paragraph 2.1(b)(ii), paragraph 5.1.3 and Appendix A.  An entity shall apply those amendments for annual reporting periods beginning on or after 1 January 2026.  Earlier application is permitted.  If an entity applies those amendments for an earlier period, it shall disclose that fact.

7.2 Transition
 ...

Transition for Annual Improvements Volume 11