Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p88
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 235744–238715

unable to claim compliance with IFRSs – see paragraph Aus16.2 of AASB 101 Presentation of Financial Statements.
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AASB 11 Joint Arrangements (July 2015)
A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors,' in paragraph C1B. New text is underlined.

  1A When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.

AASB 12 Disclosure of Interests in Other Entities (August 2015)
Paragraph B14 is amended and paragraph C1E is added. New text is underlined and deleted text is struck through.

Appendix B
Application guidance
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Summarised financial information for subsidiaries, joint ventures and associates (paragraphs 12 and 21)
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B14 The summarised financial information disclosed presented in accordance with paragraphs B12 and B13 shall be the amounts included in the Australian-Accounting-Standards financial statements of the joint venture or associate (and not the entity's share of those amounts). If the entity accounts for its interest in the joint venture or associate using the equity method:
(a) the amounts included in the Australian-Accounting-Standards financial statements of the joint venture or associate shall be adjusted to reflect adjustments made by the entity when using the equity method, such as fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies.
(b) the entity shall provide a reconciliation of the summarised financial information disclosed presented to the carrying amount of its interest in the joint venture or associate.
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Appendix C
Effective date and transition
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Effective date and transition
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C1E AASB 18 Presentation and Disclosure in Financial Statements issued in June 2024 amended paragraphs B14 and C1D. An entity shall apply those amendments when it applies AASB 18.

A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors' in paragraph C1D. New text is underlined.

  1 When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.

AASB 13 Fair Value Measurement (August 2015)
Paragraph 51 is amended and paragraph C7 is added. New text is underlined and deleted text is struck through.

Measurement
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Application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk
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51 An entity shall make an accounting policy decision in accordance with AASB 108 Basis of Preparation of Financial Statements Accounting Policies, Changes in Accounting Estimates and Errors to use the exception in paragraph 48. An entity that uses the exception shall apply that accounting policy, including its policy for allocating bid‑ask adjustments (see paragraphs 53–55)