Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p138
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
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Character Range: 384724–388238

to enable users of financial statements to understand the nature, amount, timing and uncertainty of assets, liabilities, revenue and cash flows arising from service concession arrangements. To achieve this, an entity shall consider disclosing qualitative and quantitative information about its service concession arrangements, including the following:

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Appendix B
Application guidance

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Recognition and measurement of liabilities (paragraphs 11–25)

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Financial liability model

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Subsequent measurement

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     B68  The finance charge (if any) related to the liability in a service concession arrangement is presented consistently with other finance charges in accordance with AASB 18 Presentation and Disclosure in Financial StatementsAASB 101 Presentation of Financial Statements, AASB 123 Borrowing Costs and AASB 7 Financial Instruments: Disclosures.

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Presentation and disclosure (paragraphs 28–29)

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     B80  AASB 101 requires finance costs (if any) to be presented separately in the statement of profit and loss and other comprehensive income. Finance charges (if any) determined in accordance with paragraph B67 that are expensed are included in this item.

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Appendix E
Australian simplified disclosures for Tier 2 entities

     This appendix is an integral part of the Standard.

          AusE1  Paragraphs 28, 29, and B79 and B80 do not apply to entities preparing general purpose financial statements that apply AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities.

References to Australian Accounting Standards that apply to typical types of arrangements involving an asset combined with provision of a service

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IG12 The shaded text shows arrangements within the scope of AASB 1059.

Category              Lease    Service provision  Sale
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Relevant                       AASB 18            This Standard/
Accounting Standards  AASB 16  AASB 101           AASB 116/       AASB 116/ AASB 138 (derecognition)
                                                  AASB 138

     IG13 The table below compares the key features of various common types of arrangements for private sector participation in the provision of public services. This table presents simple arrangements, however the classification of an arrangement as a construction contract with a service outsourcing contract, lease, service concession arrangement, or sale or privatisation will depend on the specific terms and conditions of the arrangement.

Features                       Construction contract with service outsourcing contract1  Lease2               Service concession arrangement3  Sale/Privatisation4
                                                                                         (grantor is lessor)
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Relevant Accounting Standards  AASB 116                                                  AASB 16              AASB 1059                        AASB 116 / AASB 138
                               AASB 101
                               AASB 18
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A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors.' in paragraph C3(a). 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.

A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors.' in paragraph IE45. New text is underlined.