AASB 9 Financial The final version of AASB 1 Jan 2018 This standard is Instruments (Dec 2014), 9 brings together the not expected to AASB 2014-1 classification and materially impact Amendments to measurement, impairment the financial Australian Accounting and hedge accounting statements. Standards (Part E phases of the IASB’s – project to replace AASB Financial Instruments), AASB 2014-7 139 Financial Amendments to Instruments: Recognition Australian Accounting and Measurement. This Standards arising from version adds a new AASB 9 (Dec 2014) expected loss impairment model and limited amendments to classification and measurement for financial assets. AASB 2015-1 Amends a number of 1 Jan 2016 This standard is Amendments to pronouncements as a not expected to Australian Accounting result of the IASB’s materially impact Standards Annual annual the financial – Improvements to improvements cycle. statements. Australian Accounting Standards 2012-2014 Cycle [AASB 1, 2, 3, 5, 7, 11, 110, 119, 121, 133, 134, 137 & 140] AASB 2015-2 Includes narrow-focus 1 Jan 2016 This standard is Amendments to amendments to address not expected to Australian Accounting concerns about existing materially impact presentation and the financial Standards Disclosure – Initiative: Amendments disclosure requirements, statements. to AASB 101 [AASB 7, and to ensure entities are 101, 134 & 1049] able to use judgement when applying a standard in determining what information to disclose. NORTHERN TERRITORY AUDITOR-GENERAL’S OFFICE Notes to the Financial Statements For the year ended 30 June 2015
AASB 9 Financial Instruments (Dec 2014), AASB 2014-1 Amendments to Australian Accounting Standards (Part E – Financial Instruments), AASB 2014-7 Amendments to Australian Accounting Standards arising from AASB 9 (Dec 2014) The final version of AASB 9 brings together the classification and measurement, impairment and hedge accounting phases of the IASB’s project to replace AASB 139 Financial Instruments: Recognition and Measurement. This version adds a new expected loss impairment model and limited amendments to classification and measurement for financial assets. 1 Jan 2018 This standard is not expected to materially impact the financial statements. AASB 2015-1 Amendments to Australian Accounting Standards – Annual Improvements to Australian Accounting Standards 2012-2014 Cycle [AASB 1, 2, 3, 5, 7, 11, 110, 119, 121, 133, 134, 137 & 140] Amends a number of pronouncements as a result of the IASB’s annual improvements cycle. 1 Jan 2016 This standard is not expected to materially impact the financial statements. AASB 2015-2 Amendments to Australian Accounting Standards – Disclosure Initiative: Amendments to AASB 101 [AASB 7, 101, 134 & 1049] Includes narrow-focus amendments to address concerns about existing presentation and disclosure requirements, and to ensure entities are able to use judgement when applying a standard in determining what information to disclose. 1 Jan 2016 This standard is not expected to materially impact the financial statements. NORTHERN TERRITORY AUDITOR-GENERAL’S OFFICE Notes to the Financial Statements For the year ended 30 June 2015