Document ID: chunk:federal_register_of_legislation:F2022C00554:body:0:p57
Version: federal_register_of_legislation:F2022C00554
Segment Type: other
Provision Reference: 
Character Range: 183970–187090

value (current replacement cost) of the         CU1,200
service concession asset
Total period of the arrangement                      20 years
Remaining service concession period                  10 years
Apportionment for the liability re grant of rights   CU1,200 x 10/20 = CU600
to the operator

     IE44              If the service concession arrangement is a hybrid arrangement, the carrying amount of any consideration transferred by the grantor to the operator that has been recognised as an asset is first deducted from the fair value (current replacement cost) of the service concession asset. The resulting amount is then apportioned for the remaining service concession period. Any outstanding financial liability (measured separately under the financial liability model at fair value at the date of initial application) would then be deducted from the apportioned amount for the liability re the grant of rights to the operator in order to derive the amount to be recognised for the liability.

     IE45              The measurement approach illustrated in this example is a simplified transition method, as it does not require the service concession asset or the liability to be measured at the inception of the service concession arrangement, as would be required under the full retrospective transition method in accordance with AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors.

Compilation details
Accounting Standard AASB 1059 Service Concession Arrangements: Grantors (as amended)
Compilation details are not part of AASB 1059.
This compiled Standard applies to annual reporting periods beginning on or after 1 January 2022.  It takes into account amendments up to and including 20 December 2021 and was prepared on 7 April 2022 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB.  Instead, it is a representation of AASB 1059 (July 2017) as amended by other Accounting Standards, which are listed in the table below.

Table of Standards
Standard     Date made    FRL identifier  Commence-ment date  Effective date          Application, saving or transitional provisions
                                                              (annual periods
                                                              … on or after …)
AASB 1059    14 Jul 2017  F2017L01183     31 Dec 2018         (beginning) 1 Jan 2020  see (a) below
AASB 2018-5  31 Oct 2018  F2018L01620     31 Dec 2018         (beginning) 1 Jan 2019  see (b) below
AASB 2019-2  18 Sep 2019  F2019L01441     31 Dec 2019         (beginning) 1 Jan 2020  see (a) below
AASB 1060    6 Mar 2020   F2020L00288     30 Jun 2021         (beginning) 1 Jul 2021  see (c) below
AASB 2021-4  21 Jun 2021  F2021L00953     29 Jun 2021         (ending) 30 Jun 2021    see (d) below
AASB 2021-7  20 Dec 2021  F2021L01883     31 Dec 2021         (beginning) 1 Jan 2022  see (e) below

   (a) Entities may elect to apply this Standard to annual periods beginning before 1 January 2020.
   (b) This Standard defers the effective date of AASB