Accounting Standards arising from AASB 13 Tier 2 Proposals.doc
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1、Accounting Standards arising from AASB 13 Tier 2 ProposalsAASB Exposure Draft ED 219 September 2011 AASB 13 Fair Value Measurement and AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13: Tier 2 Proposals Comments to AASB by 5 December 2011 Invitation to Comment Comments o
2、n this Tier 2 AASB Exposure Draft ED 219 AASB 13 Fair Value Measurement and AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13: Tier 2 Proposals are requested by 5 December 2011. Comments for Part A and B of this Exposure Draft should be provided separately. Comments shou
3、ld be addressed to: The Chairman Australian Accounting Standards Board PO Box 204 Collins Street West Victoria 8007 AUSTRALIA E-mail: standardaasb.gov.au All submissions on possible, proposed or existing financial reporting requirements, or on the standard-setting process, will be placed on the publ
4、ic record unless the Chairman of the AASB agrees to those submissions being treated as confidential. The latter will only occur if the public interest warrants such treatment. Obtaining a Copy of this Tier 2 AASB Exposure Draft This Tier 2 AASB Exposure Draft ED 219 is available on the AASB website:
5、 .aasb.gov.au. Alternatively, printed copies of this Exposure Draft are available by contacting: The Customer Service Officer Phone: (03) 9617 7637 Australian Accounting Standards Board Fax: (03) 9617 7608 Level 7 E-mail: publicationsaasb.gov.au 600 Bourke Street Postal address: Melbourne Victoria P
6、O Box 204 AUSTRALIA Collins Street West Victoria 8007 Other Enquiries Phone: (03) 9617 7600 Fax: (03) 9617 7608 E-mail: standardaasb.gov.au COPYRIGHT ? Commonwealth of Australia 2011 This document contains IFRS Foundation copyright material. Reproduction within Australia in unaltered form (retaining
7、 this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Director of Finance and Administration, Australian
8、 Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007. All existing rights in this material are reserved outside Australia. Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only. Further information and re
9、quests for authorisation to reproduce for commercial purposes outside Australia should be addressed to the IFRS Foundation at .ifrs.org. ISSN 1030-5882 Tier 2 AASB ED 219 2 Reduced Disclosure Requirements AASB 1053 Application of Tiers of Australian Accounting Standards establishes a differential re
10、porting framework consisting of two tiers of reporting requirements for preparing general purpose financial statements: (a) Tier 1: Australian Accounting Standards; and (b) Tier 2: Australian Accounting Standards Reduced Disclosure Requirements (RDR). Tier 2 comprises the recognition, measurement an
11、d presentation requirements of Tier 1 and substantially reduced disclosures corresponding to those requirements. In May 2011, the International Accounting Standards Board (IASB) published IFRS 13 Fair Value Measurement. IFRS 13 defines fair value, sets out in a single International Financial Reporti
12、ng Standard (IFRS) a framework for measuring fair value and requires disclosures about fair value measurements. IFRS 13 incorporates existing fair value measurement disclosure requirements from various IFRSs. However, some other IFRSs still retain some fair value related disclosures. Consistent with
13、 its policy of adopting IFRSs, in September 2011 the AASB published AASB 13 Fair Value Measurement and AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13, which incorporate IFRS 13. AASB 13 includes some new disclosure requirements and some disclosure requirements carried
14、 forward from existing Standards. AASB 13 also gives rise to amendments to other Standards, which are implemented through AASB 2011-8. This Tier 2 Exposure Draft includes Tier 2 proposals in relation to disclosure requirements in AASB 13 and consequential amendments to disclosure requirements of oth
15、er Standards under AASB 2011-8. It comprises two parts: (a) Part A addresses the Tier 2 proposals in respect of the disclosures required by AASB 13; and (b) Part B addresses the Tier 2 proposals in respect of AASB 13 consequential amendments to disclosure requirements in other Standards implemented
16、through AASB 2011-8. Analysis of proposed disclosures The AASBs conclusions in relation to the proposed Tier 2 disclosure requirements in Parts A and B of this Exposure Draft have been reached after applying its usual approach to the analysis of the disclosures required by AASB 13 and AASB 2011-8 co
17、mpared with the disclosures set out in the IASBs IFRS for SMEs and application of the Tier 2 Disclosure Principles. Those principles and that analysis are available on the AASB website under Work in Progress/Reduced Disclosure Requirements. AASB Specific Matters for Comment The purpose of this Tier
18、2 AASB ED 219 AASB 13 Fair Value Measurement and AASB 2011-8 Amendments to Australian Accounting Standards arising from AASB 13: Tier 2 Proposals is to seek comment on the disclosure requirements in AASB 13 that are proposed to apply to entities applying Tier 2 requirements (Part A) and on the propo
19、sed changes to Tier 2 disclosure requirements of other Standards arising from the AASB 13 consequential amendments to these Standards (Part B). Submissions play an important role in the decisions that the AASB will make in regard to a Standard. The AASB would prefer that respondents supplement their
20、 opinions with detailed Tier 2 AASB ED 219 3 comments, whether supportive or critical, on the major issues. The AASB regards both critical and supportive comments as essential to a balanced review and will consider all submissions, whether they address all specific matters, additional issues or only
21、 one issue. The AASB would particularly value comments on the following. Please comment on Part A and Part B separately: 1. whether you agree with the AASB disclosure proposals in relation to entities applying Tier 2 requirements as set out in the Proposed Reduced Disclosure Requirements sections in
22、 Parts A and B below; 2. whether there are any regulatory issues or other issues arising in the Australian environment that may affect the implementation of these proposals, particularly any issues relating to: (a) not-for-profit entities; and (b) public sector entities; 3. whether, overall, these p
23、roposals would result in financial statements that would be useful to users; 4. whether these proposals are in the best interests of the Australian economy; and 5. unless already provided in response to specific matters for comment 1-4 above, the costs and benefits of the proposals, whether quantita
24、tive (financial or non-financial) or qualitative. PART A ? Tier 2 proposals in respect of the disclosures required by AASB 13 The purpose of Part A is to seek comment on the disclosure requirements in AASB 13 that are proposed to apply to entities applying Tier 2 requirements. There is no equivalent
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