Ifrs Update
Ernst & Young IFRS Core Tools
October 2011
IFRS Update for
ÔfYf[aYd q]Yj ]f\af_
+) JK ) af l`] Õjkl q]Yj g^ Yhhda[Ylagf&
To achieve this, the transitional provisions in IFRS 7 were amended to clarify that the disclosures need not be provided for:
Annual or interim periods, including any statement of
ÕfYf[aYd hgkalagf$ hj]k]fl]\ oal` Yf YffmYd [gehYjYlan] h]jag\ ]f\af_ Z]^gj] +) JA; )1 oadd j]kmdl af Y _Yaf j][g_fak]\ af hjgÕl or loss as the fair value of the equity issued will often be less than the carrying value of the liability. Determining the fair value g^ l`] ]imalq eYq Z] \a^Õ[mdl a^ l`] k`Yj]k Yj] fgl Y[lan]dq traded. As the interpretation is applied retrospectively,
\]l]jeafaf_ hYkl ^Yaj nYdm]k eYq Z] hYjla[mdYjdq \a^Õ[mdl&
When these transactions occur within the same group, entities will need to develop an appropriate accounting policy as common control transactions are scoped out of the interpretation.
Gl`]j =jfkl Qgmf_ hmZda[Ylagfk
Supplement to IFRS Outlook Akkm] .*2 =plaf_mak`af_ ÕfYf[aYd liabilities with equity instruments (November 2009)
EYG no. AU0405
The interpretation does not apply when the creditor is acting in the capacity of a shareholder, in common control transactions, or when the issue of equity shares was part of the original terms of the liability.
LjYfkalagf
This interpretation is applied retrospectively, in accordance with
IAS 8 Accounting Policies, Changes in Accounting Estimates and
Errors from the beginning of the earliest comparative period presented if the amendment results in a change in accounting policy. Earlier application is permitted and must be disclosed.
6
A>JK Mh\Yl] ^gj ÔfYf[aYd q]Yj ]f\af_ +) JK ) Y^l]j al `Yk hmZdak`]\ Yf afl]jae ÕfYf[aYd j]hgjl af Y[[gj\Yf[] oal`
A9K +, Interim Financial Reporting, it must explain those changes and update the reconciliations between previous GAAP and IFRS.
Applicable to annual periods beginning on or after 1 January 2011. Earlier
October 2011
IFRS Update for
ÔfYf[aYd q]Yj ]f\af_
+) JK ) af l`] Õjkl q]Yj g^ Yhhda[Ylagf&
To achieve this, the transitional provisions in IFRS 7 were amended to clarify that the disclosures need not be provided for:
Annual or interim periods, including any statement of
ÕfYf[aYd hgkalagf$ hj]k]fl]\ oal` Yf YffmYd [gehYjYlan] h]jag\ ]f\af_ Z]^gj] +) JA; )1 oadd j]kmdl af Y _Yaf j][g_fak]\ af hjgÕl or loss as the fair value of the equity issued will often be less than the carrying value of the liability. Determining the fair value g^ l`] ]imalq eYq Z] \a^Õ[mdl a^ l`] k`Yj]k Yj] fgl Y[lan]dq traded. As the interpretation is applied retrospectively,
\]l]jeafaf_ hYkl ^Yaj nYdm]k eYq Z] hYjla[mdYjdq \a^Õ[mdl&
When these transactions occur within the same group, entities will need to develop an appropriate accounting policy as common control transactions are scoped out of the interpretation.
Gl`]j =jfkl Qgmf_ hmZda[Ylagfk
Supplement to IFRS Outlook Akkm] .*2 =plaf_mak`af_ ÕfYf[aYd liabilities with equity instruments (November 2009)
EYG no. AU0405
The interpretation does not apply when the creditor is acting in the capacity of a shareholder, in common control transactions, or when the issue of equity shares was part of the original terms of the liability.
LjYfkalagf
This interpretation is applied retrospectively, in accordance with
IAS 8 Accounting Policies, Changes in Accounting Estimates and
Errors from the beginning of the earliest comparative period presented if the amendment results in a change in accounting policy. Earlier application is permitted and must be disclosed.
6
A>JK Mh\Yl] ^gj ÔfYf[aYd q]Yj ]f\af_ +) JK ) Y^l]j al `Yk hmZdak`]\ Yf afl]jae ÕfYf[aYd j]hgjl af Y[[gj\Yf[] oal`
A9K +, Interim Financial Reporting, it must explain those changes and update the reconciliations between previous GAAP and IFRS.
Applicable to annual periods beginning on or after 1 January 2011. Earlier