65Paragraph 50 is added as follows:

65 Paragraph 50 is added as follows:

50 AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13, issued in September 2011, added paragraph 16A(j) and amended paragraphs C4 and C7 in the illustrative examples. An entity shall apply those amendments when it applies AASB 13.

66 In the Illustrative Examples accompanying AASB 134, paragraphs C4 and C7 are amended as follows (new text is underlined and deleted text is struck through):

C4 Pensions: AASB 119 Employee Benefits requires that an entity to determine the present value of defined benefit obligations and the market fair value of plan assets at …

C7 Revaluations and fair value accounting: AASB 116 Property, Plant and Equipment allows an entity to choose as its accounting policy the revaluation model whereby items of property, plant and equipment are revalued to fair value. Similarly, AASB 140 Investment Property requires an entity to determine measure the fair value of investment property. …

Amendments to AASB 136 Amendments to AASB 136

Amendments to AASB 136

67 In AASB 136 and the accompanying Illustrative Examples, all references to ‘fair value less costs to sell’ are replaced with ‘fair value less costs of disposal’, except in relation to AASB 141.