Department of Corporate and Information Services annual report 2015-16
Northern Territory. Department of Corporate and Information Services
E-Publications; E-Books; PublicationNT; Department of Corporate and Information Services annual report; Annual report
2016
Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).
English
Northern Territory. Department of Corporate and Information Services -- Periodical
Northern Territory Government
Darwin
Department of Corporate and Information Services annual report; Annual report
2015/2016
application/pdf
1835-2332
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0
https://hdl.handle.net/10070/264506
https://hdl.handle.net/10070/468264
D a ta c e n t r e Se r v ic e S 188 Department of Corporate anD InformatIon ServICeS | AnnuAl RepoRt 2015-16 AASB 2015-3 Amendments to Australian Accounting Standards arising from the withdrawal of AASB 1031 Materiality The standard completes the withdrawal of references to AASB 1031 in all Australian Accounting Standards and Interpretations, allowing the standard to effectively be withdrawn. The standard does not impact the financial statements. AASB 2015-4 Amendments to Australian Accounting Standards Financial Reporting Requirements for Australian Groups with a Foreign Parent Amendments are made to AASB 128 Investments in Associates and Joint Ventures to require the ultimate Australian entity to apply the equity method in accounting for interests in associates and joint ventures, if either the entity or the group is a reporting entity, or both the entity and group are reporting entities. The standard does not impact the financial statements. AASB 2014-1 Amendments to Australian Accounting Standards (Part E - Financial Instruments) Part E of this Standard defers the application date of AASB 9 Financial Instruments to annual reporting periods beginning on or after 1 January 2018. The standard does not impact the financial statements. The following standards and interpretations are likely to have an insignificant impact on the financial statements for future reporting periods, but the exact impact is yet to be determined Standard/Interpretation Effective for annual reporting periods beginning on or after AASB9 Financial Instruments (December 2014), AASB 2014-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2014) 1 January 2018 AASB 1057 Application of Accounting Standards 1 January 2016 AASB 2015-9 Amendments to Australian Accounting Standards - Scope and Application Paragraphs [AASB 8, 133 and 1057] 1 January 2016 AASB 2015-10 Amendments to Australian Accounting Standards - Effective Date of Amendments to AASB 10 and AASB 128 1 January 2016 The following standards and interpretations are expected to have a potential impact on the financial statements for future reporting periods: Standard/Interpretation Effective for annual reporting periods beginning on or after Impact AASB 2015-6 Amendments to Australian Accounting Standards Extending Related Party Disclosures to Not-for-Profit Public Sector Entities [AASB 10, 124 and 1049] 1 July 2016 New note disclosure to include remuneration of Key Management Personnel (KMP) and related party transactions. 2016-2 Amendments to Australian Accounting Standards Disclosure Initiative: Amendments to AASB 107 1 January 2017 New disclosure on the reconciliation of the changes in liabilities arising from financing activities AASB 16 Leases 1 January 2019 Reclassification of operating leases greater than 12 months to finance lease reporting requirements AASB 9 Financial Instruments 1 January 2018 Simplified requirements for classification and measurement of financial assets, a new hedging accounting model and a revised impairment loss model to recognise impairment losses earlier as opposed to only when incurred AASB 15 Revenue from Contracts with Customers 1 January 2018 Requires an entity to recognise revenue when the entity satisfies a performance obligation by transferring a promised good or service to a customer.