AASB 2011-7 - Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards - August 2011
Amendments to AASB 2Amendments to AASB 2
Start here
Get a plain-English read of Amendments to AASB 2
Turn the raw legal text into a practical explanation grounded in AASB 2011-7 - Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards - August 2011.
Amendments to AASB 2
15 In paragraph 5, ‘AASB 131 Interests in Joint Ventures’ is amended to ‘AASB 11 Joint Arrangements’.
16 Paragraph 63A is added as follows:
63A AASB 2011-7 Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards, issued in August 2011, amended paragraph 5 and Appendix A. An entity shall apply those amendments when it applies AASB 10 Consolidated Financial Statements and AASB 11.
17 In Appendix A, the footnote to the definition of ‘share-based payment arrangement’ is amended as follows (new text is underlined and deleted text is struck through):
3 A ‘group’ is defined in paragraph 4 Appendix A of AASB 127 AASB 10 Consolidated and Separate Financial Statements as ‘a parent and all its subsidiaries’ from the perspective of the reporting entity’s ultimate parent.