Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p142
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 395955–398820

the heading 'References', the reference to AASB 101 is amended. Paragraphs 1 and 2 are amended and paragraph 21 is added. New text is underlined and deleted text is struck through.

References
• AASB 3 Business Combinations
• AASB 5 Non‑current Assets Held for Sale and Discontinued Operations
• AASB 7 Financial Instruments: Disclosures
• AASB 10 Consolidated Financial Statements
• AASB 13 Fair Value Measurement
• AASB 18 Presentation and Disclosure in Financial StatementsAASB 101 Presentation of Financial Statements (as revised in 2007)
• AASB 110 Events after the Reporting Period

Background
1 Sometimes an entity distributes assets other than cash (non-cash assets) as dividends to its owners1 acting in their capacity as owners. In those situations, an entity may also give its owners a choice of receiving either non-cash assets or a cash alternative. Constituents have requested guidance on how an entity should account for such distributions.
  1  Paragraph 7 of AASB 101 defines owners as holders of instruments classified as equity
2 Australian Accounting Standards do not provide guidance on how an entity should measure distributions to its owners (commonly referred to as dividends). AASB 18 AASB 101 requires an entity to present details of dividends recognised as distributions to owners either in the statement of changes in equity or to disclose them in the notes to the financial statements.
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Effective date
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21 AASB 18 issued in June 2024 amended paragraphs 1 and 2. An entity shall apply those amendments when it applies AASB 18.

AASB Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments (August 2015)
Below the heading 'References', the references to AASB 101 and AASB 108 are amended. Paragraph 11 is amended and paragraph 18 is added. New text is underlined and deleted text is struck through.

References
• Framework for the Preparation and Presentation of Financial Statements1
• AASB 2 Share‑based Payment
• AASB 3 Business Combinations
• AASB 9 Financial Instruments
• AASB 13 Fair Value Measurement
• AASB 18 Presentation and Disclosure in Financial StatementsAASB 101 Presentation of Financial Statements
• AASB 108 Basis of Preparation of Financial StatementsAccounting Policies, Changes in Accounting Estimates and Errors
• AASB 132 Financial Instruments: Presentation
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Consensus
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11 An entity shall present disclose a gain or loss recognised in accordance with paragraphs 9 and 10 as a separate line item in the statement of profit or loss or disclose it in the notes.
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Effective date and transition
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18 AASB 18 Presentation and Disclosure in Financial Statements issued in June 2024 amended paragraph 11. An entity shall apply those amendments when it applies AASB 18.

AASB Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine (August 2015)
Below