AASB 2011-8 - Amendments to Australian Accounting Standards arising from AASB 13 - September 2011
123Paragraph 7 is amended as follows (new text is underlined and deleted text is struck through):
Start here
Get a plain-English read of 123
Turn the raw legal text into a practical explanation grounded in AASB 2011-8 - Amendments to Australian Accounting Standards arising from AASB 13 - September 2011.
123 Paragraph 7 is amended as follows (new text is underlined and deleted text is struck through):
7 If the fair value of the equity instruments issued cannot be reliably measured then the equity instruments shall be measured to reflect the fair value of the financial liability extinguished. In measuring the fair value of a financial liability extinguished that includes a demand feature (eg a demand deposit), paragraph 49 47 of AASB 139 AASB 13 is not applied.
124 The heading ‘Effective date of IFRIC 19’ before paragraph 12 is amended to ‘Effective date and transition’, and the heading ‘Transition’ before paragraph 13 is deleted.