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AASB 1048 - Interpretation and Application of Standards - April 2006
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Explain section Australian Interpretations corresponding to IASB Interpretations
9 An entity shall apply each relevant Australian Interpretation listed in Table 1 below.
<table cellspacing="0" cellpadding="0" style="width:347.4pt; border-collapse:collapse"><thead><tr><td colspan="6" style="width:336.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><h5 id="navPoint_24" style="margin-bottom:3pt; text-align:justify"><span>Table 1:</span><span> </span><span>Australian Interpretations corresponding to IASB Interpretations</span></h5></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.45pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.02pt 0.65pt 1.4pt; vertical-align:top"><p><span style="font-weight:bold">Interpretation</span></p><p><span style="font-size:9pt; font-style:italic">Issue Date</span></p></td><td style="width:132.55pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.02pt 0.65pt; vertical-align:top"><p><span style="font-weight:bold">Title</span></p></td><td style="width:78.1pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.02pt 0.65pt; vertical-align:top"><p><span style="font-weight:bold">Application Date </span><span>(annual reporting periods)</span></p></td><td style="width:39.1pt; border-top:1.5pt double #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.4pt 0.65pt 1.02pt; vertical-align:top"><p style="text-align:center"><span style="font-weight:bold">IFRIC or SIC</span></p></td><td style="vertical-align:top"></td></tr></thead><tbody><tr><td style="vertical-align:top"></td><td style="width:63.45pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.1pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1</span></p><p><span style="font-size:9pt; font-style:italic">July 2004</span></p></td><td style="width:132.55pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.1pt 1.02pt 1.02pt; vertical-align:top"><p><span>Changes in Existing Decommissioning, Restoration and Similar Liabilities</span></p></td><td style="width:78.1pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.1pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td><td style="width:39.1pt; border-top:1.5pt double #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.1pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p style="text-align:center"><span>IFRIC 1</span></p></td><td style="vertical-align:top"></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.45pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>2</span></p><p><span style="font-size:9pt; font-style:italic">March 2005</span></p></td><td style="width:132.55pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Members’ Shares in Co</span><span>‑</span><span>operative Entities and Similar Instruments</span></p></td><td style="width:78.1pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>(ending)</span></p><p><span>31 December 2005</span></p></td><td style="width:39.1pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p style="text-align:center"><span>IFRIC 2</span></p></td><td style="vertical-align:top"></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.45pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>4</span></p><p><span style="font-size:9pt; font-style:italic">June 2005</span></p></td><td style="width:132.55pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Determining whether an Arrangement contains a Lease</span></p></td><td style="width:78.1pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2006</span></p></td><td style="width:39.1pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p style="text-align:center"><span>IFRIC 4</span></p></td><td style="vertical-align:top"></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.45pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>5</span></p><p><span style="font-size:9pt; font-style:italic">June 2005</span></p></td><td style="width:132.55pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds</span></p></td><td style="width:78.1pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2006</span></p></td><td style="width:39.1pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p style="text-align:center"><span>IFRIC 5</span></p></td><td style="vertical-align:top"></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.45pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>6</span></p><p><span style="font-size:9pt; font-style:italic">October 2005</span></p></td><td style="width:132.55pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment</span></p></td><td style="width:78.1pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 December 2005</span></p></td><td style="width:39.1pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p style="text-align:center"><span>IFRIC 6</span></p></td><td style="vertical-align:top"></td></tr><tr style="height:0pt"><td style="width:4pt"></td><td style="width:66.25pt"></td><td style="width:135.35pt"></td><td style="width:80.9pt"></td><td style="width:41.9pt"></td><td style="width:19pt"></td></tr></tbody></table>
Previous section Scope Scope
Next section Table 1: Australian Interpretations corr Table 1: Australian Interpretations corresponding to IASB Interpretations
7February 2006 Applying the Restatement Approach under AASB 129 Financial Reporting in Hyperinflationary Economies (beginning)1 March 2006 IFRIC 7 8March 2006 Scope of AASB 2 (beginning)1 May 2006 IFRIC 8 9April 2006 Reassessment of Embedded Derivatives (beginning)1 June 2006 IFRIC 9 107July 2004 Introduction of the Euro (beginning)1 January 2005 SIC-7 110July 2004 Government Assistance – No Specific Relation to Operating Activities (beginning)1 January 2005 SIC-10 112December 2004 Consolidation – Special Purpose Entities (beginning)1 January 2005 SIC-12 113July 2004 Jointly Controlled Entities – Non-Monetary Contributions by Venturers (beginning)1 January 2005 SIC-13 115July 2004 Operating Leases – Incentives (beginning)1 January 2005 SIC-15 121July 2004 Income Taxes – Recovery of Revalued Non-Depreciable Assets (beginning)1 January 2005 SIC-21 125July 2004 Income Taxes – Changes in the Tax Status of an Entity or its Shareholders (beginning)1 January 2005 SIC-25 127July 2004 Evaluating the Substance of Transactions Involving the Legal Form of a Lease (beginning)1 January 2005 SIC-27 129July 2004 Disclosure – Service Concession Arrangements (beginning)1 January 2005 SIC-29 131July 2004 Revenue – Barter Transactions Involving Advertising Services (beginning)1 January 2005 SIC-31 132July 2004 Intangible Assets – Web Site Costs (beginning)1 January 2005 SIC-32
10 The application date listed in Table 1 for each Interpretation is a reference to annual reporting periods beginning or ending (as indicated) on or after the date specified. An entity may elect to apply an individual Interpretation to annual reporting periods in advance of that stated for the Interpretation in Table 1. However, an Interpretation shall not be applied to annual reporting periods beginning before 1 January 2005.
Other Australian Interpretations 11 An entity shall apply each relevant Australian Interpretation listed in Table 2 below.
<table cellspacing="0" cellpadding="0" style="width:329.4pt; border-collapse:collapse"><thead><tr><td colspan="4" style="width:318.6pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><h5 id="navPoint_26" style="margin-bottom:3pt; text-align:justify"><span>Table 2:</span><span> </span><span>Other Australian Interpretations</span></h5></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.02pt 0.65pt 1.4pt; vertical-align:top"><p><span style="font-weight:bold">Interpretation</span></p><p><span style="font-size:9pt; font-style:italic">Issue Date</span></p></td><td style="width:175.75pt; border-top:1.5pt double #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.02pt 0.65pt; vertical-align:top"><p><span style="font-weight:bold">Title</span></p></td><td style="width:77.85pt; border-top:1.5pt double #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.1pt 1.4pt 0.65pt 1.02pt; vertical-align:top"><p><span style="font-weight:bold">Application Date </span><span>(annual reporting periods)</span></p></td></tr></thead><tbody><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1001</span></p><p><span style="font-size:9pt; font-style:italic">July 2005</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Consolidated Financial Reports in relation to Pre-Date-of-Transition Dual Listed Company Arrangements</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(ending)</span></p><p><span>31 December 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1002</span></p><p><span style="font-size:9pt; font-style:italic">December 2005</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Post-Date-of-Transition Stapling Arrangements</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(ending)</span></p><p><span>31 December 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1013</span></p><p><span style="font-size:9pt; font-style:italic">April 2005</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Consolidated Financial Reports in relation to Pre-Date-of-Transition Stapling Arrangements</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(ending)</span></p><p><span>31 December 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1017</span></p><p><span style="font-size:9pt; font-style:italic">November 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Developer and Customer Contributions for Connection to a Price-Regulated Network</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1019</span></p><p><span style="font-size:9pt; font-style:italic">September 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>The Superannuation Contributions Surcharge</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1030</span></p><p><span style="font-size:9pt; font-style:italic">September 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Depreciation of Long-Lived Physical Assets: Condition-Based Depreciation and Related Methods</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1031</span></p><p><span style="font-size:9pt; font-style:italic">July 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Accounting for the Goods and Services Tax (GST)</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1038</span></p><p><span style="font-size:9pt; font-style:italic">September 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Contributions by Owners Made to Wholly-Owned Public Sector Entities</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1039</span></p><p><span style="font-size:9pt; font-style:italic">July 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Substantive Enactment of Major Tax Bills in Australia</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1042</span></p><p><span style="font-size:9pt; font-style:italic">December 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Subscriber Acquisition Costs in the Telecommunications Industry</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1047</span></p><p><span style="font-size:9pt; font-style:italic">November 2004</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Professional Indemnity Claims Liabilities in Medical Defence Organisations</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt 1.4pt; vertical-align:top"><p><span>1052</span></p><p><span style="font-size:9pt; font-style:italic">June 2005</span></p></td><td style="width:175.75pt; border:0.75pt solid #000000; padding:2.48pt 1.02pt 1.02pt; vertical-align:top"><p><span>Tax Consolidation Accounting</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:2.48pt 1.4pt 1.02pt 1.02pt; vertical-align:top"><p><span>(ending)</span></p><p><span>31 December 2005</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:63.25pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.48pt 1.02pt 0.65pt 1.4pt; vertical-align:top"><p><span>1055</span></p><p><span style="font-size:9pt; font-style:italic">September 2004</span></p></td><td style="width:175.75pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.48pt 1.02pt 0.65pt; vertical-align:top"><p><span>Accounting for Road Earthworks</span></p></td><td style="width:77.85pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:1.5pt double #000000; padding:2.48pt 1.4pt 0.65pt 1.02pt; vertical-align:top"><p><span>(beginning)</span></p><p><span>1 January 2005</span></p></td></tr></tbody><tbody><tr style="height:0pt"><td style="width:4pt"></td><td style="width:66.05pt"></td><td style="width:178.55pt"></td><td style="width:80.8pt"></td></tr></tbody></table>
12 The application date listed in Table 2 for each Interpretation is a reference to annual reporting periods beginning or ending (as indicated) on or after the date specified. An entity may elect to apply an individual Interpretation to annual reporting periods in advance of that stated for the Interpretation in Table 2. However, an Interpretation shall not be applied to annual reporting periods beginning before 1 January 2005.
Part Australian Interpretations corresponding - AASB 1048 - Interpretation and Application of Standards - April 2006 - Australian Interpretations corresponding to IASB Interpretations | Zoe