Document ID: chunk:federal_register_of_legislation:F2022C00487:reg:36:p6
Version: federal_register_of_legislation:F2022C00487
Segment Type: reg
Provision Reference: reg 36 (pt 6/12)
Character Range: 38633–41685

earnings per share required by paragraph 26 of this Standard with equal prominence to the earnings per share required by AASB 133 for all periods presented.

Application of AASB 136 Impairment of Assets
B15 Paragraphs 11–12 require an entity to continue to apply its previous GAAP accounting policies for the identification, recognition, measurement and reversal of any impairment of its recognised regulatory deferral account balances. Consequently, AASB 136 does not apply to the separate regulatory deferral account balances recognised.
B16 However, AASB 136 might require an entity to perform an impairment test on a cash-generating unit (CGU) that includes regulatory deferral account balances. This test might be required because the CGU contains goodwill, or because one or more of the impairment indicators described in AASB 136 have been identified relating to the CGU. In such situations, paragraphs 74–79 of AASB 136 contain requirements for identifying the recoverable amount and the carrying amount of a CGU. An entity shall apply those requirements to decide whether any of the regulatory deferral account balances recognised are included in the carrying amount of the CGU for the purpose of the impairment test. The remaining requirements of AASB 136 shall then be applied to any impairment loss that is recognised as a result of this test.

Application of AASB 3 Business Combinations
B17 The core principle of AASB 3 is that an acquirer of a business recognises the assets acquired and the liabilities assumed at their acquisition-date fair values. AASB 3 provides limited exceptions to its recognition and measurement principles. Paragraph B18 of this Standard provides an additional exception.
B18 Paragraphs 11–12 require an entity to continue to apply its previous GAAP accounting policies for the recognition, measurement, impairment and derecognition of regulatory deferral account balances. Consequently, if an entity acquires a business, it shall apply, in its consolidated financial statements, its accounting policies established in accordance with paragraphs 11–12 for the recognition and measurement of the acquiree's regulatory deferral account balances at the date of acquisition. The acquiree's regulatory deferral account balances shall be recognised in the consolidated financial statements of the acquirer in accordance with the acquirer's policies, irrespective of whether the acquiree recognises those balances in its own financial statements.

Application of AASB 5 Non-current Assets Held for Sale and Discontinued Operations
B19 Paragraphs 11–12 require an entity to continue to apply its previous accounting policies for the recognition, measurement, impairment and derecognition of regulatory deferral account balances. Consequently, the measurement requirements of AASB 5 shall not apply to the regulatory deferral account balances recognised.
B20 Paragraph 33 of AASB 5 requires a single amount to be presented for discontinued operations in the statement(s) of profit or loss and other comprehensive income.