AASB 2010-7 - Amendments to Australian Accounting Standards arising from AASB 9 (December 2010) - December 2010
68Paragraphs 23-25 are amended to read as follows, paragraph 28A is deleted and paragraph 28B is added:
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68 Paragraphs 23-25 are amended to read as follows, paragraph 28A is deleted and paragraph 28B is added:
23 AASB 132 Financial Instruments: Presentation and AASB 7 Financial Instruments: Disclosures and AASB 9 Financial Instruments apply to the financial asset recognised under paragraphs 16 and 18.
24 The amount due from or at the direction of the grantor is accounted for in accordance with AASB 9 as:
(a) at amortised cost; or
(b) measured at fair value through profit or loss.
25 If the amount due from the grantor is accounted for at amortised cost, AASB 9 requires interest calculated using the effective interest method to be recognised in profit or loss.
28A [Deleted by the IASB]
28B AASB 2010-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2010), issued in December 2010, amended paragraphs 23-25 and deleted paragraph 28A. An entity shall apply those amendments when it applies AASB 9 as issued in December 2010.