AASB 2011-8 - Amendments to Australian Accounting Standards arising from AASB 13 - September 2011
16Paragraphs D15 and D20 are amended as follows (new text is underlined and deleted text is struck through):
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16 Paragraphs D15 and D20 are amended as follows (new text is underlined and deleted text is struck through):
D15 If a first-time adopter measures such an investment at cost in accordance with AASB 127, it shall measure that investment at one of the following amounts in its separate opening Australian-Accounting-Standards statement of financial position:
(b) deemed cost. The deemed cost of such an investment shall be its:
(i) fair value (determined in accordance with AASB 139) at the entity’s date of transition to Australian Accounting Standards in its separate financial statements; or
D20 Notwithstanding the requirements of paragraphs 7 and 9, an entity may apply the requirements in the last sentence paragraph AG76(a) of AASB 139 paragraph AG76 and in paragraph AG76A prospectively to transactions entered into on or after the date of transition to Australian Accounting Standards.