AASB 2011-7 - Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards - August 2011
Amendments to AASB 7Amendments to AASB 7
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Amendments to AASB 7
23 Paragraph 3(a) is amended as follows (new text is underlined and deleted text is struck through):
3 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, …
24 Paragraph 44O is added as follows:
44O AASB 2011-7 Amendments to Australian Accounting Standards arising from the Consolidation and Joint Arrangements Standards, issued in August 2011, amended paragraph 3. An entity shall apply that amendment when it applies AASB 10 and AASB 11 Joint Arrangements.