AASB 9 - Financial Instruments - December 2014
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Introduction
C1 AASB 9 Financial Instruments incorporates International Financial Reporting Standard IFRS 9 Financial Instruments, issued by the International Accounting Standards Board. Consequently, the text of AASB 9 is generally expressed from the perspective of for-profit entities in the private sector. The AASB has prepared this appendix to explain the principles in the Standard in relation to non-contractual receivables arising from statutory requirements (‘statutory receivables’) from the perspective of not-for-profit entities in the private and public sectors. The appendix does not apply to for-profit entities or affect their application of AASB 9.
C2 This appendix provides guidance to assist not-for-profit entities to determine whether particular transactions or other events, or components thereof, are within the scope of this Standard. If a transaction is outside the scope of AASB 9, the recognition and measurement of the asset and income arising from the transaction may instead be specified by another Standard, such as AASB 1058 Income of Not-for-Profit Entities.