AASB 2009-11 - Amendments to Australian Accounting Standards arising from AASB 9 - December 2009
Amendments to AASB 112Amendments to AASB 112
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Amendments to AASB 112
24 Paragraph 20 is amended and paragraph 96 is added as follows:
20 Australian Accounting Standards permit or require certain assets to be carried at fair value or to be revalued (see, for example, AASB 116 Property, Plant and Equipment, AASB 138 Intangible Assets, AASB 9 Financial Instruments AASB 139 Financial Instruments: Recognition and Measurement and AASB 140 Investment Property). In some jurisdictions, the revaluation or other restatement of an asset to fair value affects taxable profit (tax loss) for the current period. As a result, ...
96 AASB 2009-11 Amendments to Australian Accounting Standards arising from AASB 9, issued in December 2009, amended paragraph 20. An entity shall apply that amendment when it applies AASB 9.