AASB 2011-7 - Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards - August 2011
Amendments to AASB 136Amendments to AASB 136
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Amendments to AASB 136
48 In the heading before paragraph 12(h) and in paragraph 12(h), ‘jointly controlled entity’ is amended to ‘joint venture’.
49 Paragraph 4 is amended (new text is underlined and deleted text is struck through) and paragraph 140H is added as follows:
4 This Standard applies to financial assets classified as:
(a) subsidiaries, as defined in AASB 127 AASB 10 Consolidated and Separate Financial Statements;
(b) associates, as defined in AASB 128 Investments in Associates and Joint Ventures; and
(c) joint ventures, as defined in AASB 131 Interests in Joint Ventures AASB 11 Joint Arrangements.
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140H AASB 2011-7 Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards, issued in August 2011, amended paragraph 4, the heading above paragraph 12(h) and paragraph 12(h). An entity shall apply those amendments when it applies AASB 10 and AASB 11.