Accounting News, February 2014

20 February 2014

Sheryl Levine |

In this edition, the Australian Accounting Standards Board has approved the new hedging requirements for use in Australia by making amendments to AASB 9 Financial Instruments, and the Australian Securities and Investments Commission has clarified how stapled entities should present their financial statements. We also look at new annual improvements that have been issued by the International Accounting Standards Board for the 2010-2012 and 2011-2013 cycles, proposals for more annual improvements for the 2012-2014 cycle, as well as proposals to allow equity accounting of investments in subsidiaries, associates and joint ventures in separate financial statements.

  • New hedge accounting requirements available for early adoption in Australia
  • Annual improvements to IFRSs for 2010-2012 and 2011-2013 Cycles
  • Proposals to allow equity accounting in separate financial statements
  • ED 247 Annual Improvements to IFRSs 2012-2014 Cycle
  • ASIC clarifies presentation of financial statements by stapled entities
  • New BDO publications
  • Comments sought on exposure drafts