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TAS 7 (revised 2012) clarifies that only expenditures
that result in a recognised asset in the statement of
financial position are eligible for classification as
investing activities. This standard has no impact to
the Group.
TAS 19 (revised 2012) deletes the transition
provisions of the current TAS 19. This standard has
no impact to the Group.
TAS 28 (revised 2012) clarifies that when
an entity moves from an equity accounting to cost
accounting in the separate financial statements, the
standard requires this to be adjusted retrospectively.
An entity losses significant influence, the remaining
interest of investment should be valued at fair value.
This matter should be adjusted prospectively effectively
for the period begins on or after 1 January 2011. This
standard has no impact to the Group.
TAS 31 (revised 2012) clarifies that when
an entity moves from an equity accounting to cost
accounting in the separate financial statements, the
standard requires this to be adjusted retrospectively.
An entity losses of joint control in its interest in joint
control, the remaining interest of investment should
be valued at fair value. This matter should be adjusted
prospectively effectively for the period begins on or
after 1 January 2011. This standard has no impact
to the Group.
TAS 7 (revised 2012)
Statement of cash flows
TAS 19 (revised 2012)
Employee benefits
TAS 28 (revised 2012)
Investments in associates
TAS 31 (revised 2012)
Interest in joint ventures
TFRS 8 (revised 2012)
Operating segments
TSIC 32
Intangible assets - Web site costs
2.2 New financial reporting standards and revised financial reporting standards
1) Revised accounting standards which are effective on 1 January 2014 and are relevant to the Group:
TFRS 8 (revised 2012) clarifies that an entity
is required to disclose a measure of segment assets
only if the measure is regularly reported to the chief
operating decision-maker. This standard has no impact
to the Group.
TSIC 32 provides guidance on the internal
expenditure on the development and operation of
the entity web site for internal or external access. The
entity shall comply with the requirements described
in TAS 38 “Intangible Assets”. This interpretation has
no impact to the Group.