AASB 2009-11 - Amendments to Australian Accounting Standards arising from AASB 9 - December 2009
Amendments to AASB 132Amendments to AASB 132
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Amendments to AASB 132
33 Paragraphs 3, 12 and 31 are amended and paragraph 97F is added as follows:
3 The principles in this Standard complement the principles for recognising and measuring financial assets and financial liabilities in AASB 9 Financial Instruments and AASB 139 Financial Instruments: Recognition and Measurement, and for disclosing information about them in AASB 7 Financial Instruments: Disclosures.
12 The following terms are defined in paragraph 9 of AASB 139 and are used in this Standard with the meaning specified in AASB 139.
(a) amortised cost of a financial asset or financial liability
(b) available for sale financial assets
(b)(c) derecognition
(c)(d) derivative
(d)(e) effective interest method
(e)(f) financial asset or financial liability at fair value through profit or loss
(f)(g) financial guarantee contract
(g)(h) firm commitment
(h)(i) forecast transaction
(i)(j) hedge effectiveness
(j)(k) hedged item
(k)(l) hedging instrument
(l) held for trading
(m) held to maturity investments
(n) loans and receivables
(m)(o)• regular way purchase or sale
(n)(p)• transaction costs.
31 AASB 9 and AASB 139 deals with the measurement of financial assets and financial liabilities respectively. Equity instruments …
97F AASB 2009-11 Amendments to Australian Accounting Standards arising from AASB 9, issued in December 2009, amended paragraphs 3, 12, 31, AG2 and AG30. An entity shall apply those amendments when it applies AASB 9.
34 In the Appendix (Application Guidance), paragraphs AG2 and AG30 are amended as follows:
AG2 The Standard does not deal with the recognition or measurement of financial instruments. Requirements about the recognition and measurement are set out in AASB 9 for of financial assets and AASB 139 for financial liabilities are set out in AASB 139.
AG30 Paragraph 28 applies only to issuers of non-derivative compound financial instruments. Paragraph 28 does not deal with compound financial instruments from the perspective of holders. AASB 9 deals with the classification and measurement of financial assets that are compound instruments from the holder’s perspective. AASB 139 deals with the separation of embedded derivatives from the perspective of holders of compound financial instruments that contain debt and equity features.