AASB 2011-7 - Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards - August 2011
Amendments to AASB 132Amendments to AASB 132
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Amendments to AASB 132
45 Paragraph 4(a) is amended (new text is underlined and deleted text is struck through) and paragraph 97I is added as follows:
4 This Standard shall be applied by all entities to all types of financial instruments except:
(a) those interests in subsidiaries, associates or joint ventures that are accounted for in accordance with AASB 10 Consolidated Financial Statements, AASB 127 Consolidated and Separate Financial Statements, or AASB 128 Investments in Associates and Joint Ventures or AASB 131 Interests in Joint Ventures. However, in some cases, AASB 127, or AASB 128 or AASB 131 permits an entity to account for an interest in a subsidiary, associate or joint venture using AASB 139; in those cases, …
97I AASB 2011-7 Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards, issued in August 2011, amended paragraphs 4(a) and AG29. An entity shall apply those amendments when it applies AASB 10 and AASB 11 Joint Arrangements.
46 In the Appendix, paragraph AG29 is amended as follows:
AG29 In consolidated financial statements, an entity presents non-controlling interests – that is, the interests of other parties in the equity and income of its subsidiaries – in accordance with AASB 101 and AASB 127 AASB 10. When …