Unformatted text preview: cember 2010) (effective from 1 January 2013)
AASB 9 Financial Instruments addresses the classification, measurement and derecognition of financial assets and
financial liabilities. The standard is not applicable until 1 January 2013 but is available for early adoption. There will
be no impact on the Group’s accounting for financial assets or financial liabilities.
Revised AASB 124 Related Party Disclosures and AASB 2009-12 Amendments to Australian Accounting
Standards (effective from 1 January 2011)
In December 2009 the AASB issued a revised AASB 124 Related Party Disclosures. It is effective for accounting
periods beginning on or after 1 January 2011 and must be applied retrospectively. The amendment removes the
requirement for government-related entities to disclose details of all transactions with the government and other
government-related entities and clarifies and simplifies the definition of a related party. The Group will apply the
amended standard from 1 July 2011. When the amendments are applied, the G...
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- Spring '14
- Wellcom Group, Wellcom Group Limited