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Commission Regulation (EU) No 1255/2012Show full title

Commission Regulation (EU) No 1255/2012 of 11 December 2012 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard 12, International Financial Reporting Standards 1 and 13, and Interpretation 20 of the International Financial Reporting Interpretations Committee (Text with EEA relevance) (revoked)

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  1. Introductory TextNext Match

  2. Article 1.(1) The Annex to Regulation (EC) No 1126/2008 is amended as...Previous MatchNext Match

  3. Article 2.(1) Each company shall apply the amendments referred to in...Previous MatchNext Match

  4. Article 3.This Regulation shall enter into force on the third day...Previous MatchNext Match

  5. SignaturePrevious MatchNext Match

    1. ANNEXPrevious MatchNext Match

      INTERNATIONAL ACCOUNTING STANDARDS Previous MatchNext Match

      1. Previous MatchNext Match

      2. AMENDMENTS TO IFRS 1 First-time Adoption of International Financial Reporting Standards Previous MatchNext Match

        1. PRESENTATION AND DISCLOSURE Previous MatchNext Match

          1. Explanation of transition to IFRSs Previous MatchNext Match

            1. Use of deemed cost after severe hyperinflation Previous MatchNext Match

              1. 31C If an entity elects to measure assets and liabilities at...Previous MatchNext Match

        2. Appendix B Exceptions to the retrospective application of other IFRSs Previous MatchNext Match

          1. Derecognition of financial assets and financial liabilities Previous MatchNext Match

            1. B2 Except as permitted by paragraph B3, a first-time adopter shall...Previous MatchNext Match

        3. Appendix D Exemptions from other IFRSs Previous MatchNext Match

          1. D1 An entity may elect to use one or more of...Previous MatchNext Match

          2. Fair value measurement of financial assets or financial liabilities at...Previous MatchNext Match

            1. D20 Notwithstanding the requirements of paragraphs 7 and 9, an entity...Previous MatchNext Match

          3. Severe hyperinflation Previous MatchNext Match

            1. D26 If an entity has a functional currency that was, or...Previous MatchNext Match

            2. D27 The currency of a hyperinflationary economy is subject to severe...Previous MatchNext Match

            3. D28 The functional currency of an entity ceases to be subject...Previous MatchNext Match

            4. D29 When an entity’s date of transition to IFRSs is on,...Previous MatchNext Match

            5. D30 When the functional currency normalisation date falls within a 12-month...Previous MatchNext Match

          4. EFFECTIVE DATE Previous MatchNext Match

            1. 39H Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters...Previous MatchNext Match

      3. AMENDMENTS TO IFRS 9 Previous MatchNext Match

        1. IFRS 9 Financial Instruments (issued November 2009) Previous MatchNext Match

        2. IFRS 9 Financial Instruments (issued October 2010) Previous MatchNext Match

      4. Amendments to IAS 12 Income Taxes Previous MatchNext Match

        1. DEFINITIONS Previous MatchNext Match

          1. Tax base Previous MatchNext Match

            1. 10 Where the tax base of an asset or liability is...Previous MatchNext Match

        2. MEASUREMENT Previous MatchNext Match

          1. 51A In some jurisdictions, the manner in which an entity recovers...Previous MatchNext Match

          2. Example A Previous MatchNext Match

          3. Example B Previous MatchNext Match

            1. Previous MatchNext Match

          4. Example C Previous MatchNext Match

            1. Previous MatchNext Match

            2. 51B If a deferred tax liability or deferred tax asset arises...Previous MatchNext Match

            3. 51C If a deferred tax liability or asset arises from investment...Previous MatchNext Match

          5. Example illustrating paragraph 51C Previous MatchNext Match

            1. 51D The rebuttable presumption in paragraph 51C also applies when a...Previous MatchNext Match

            2. 51E Paragraphs 51B–51D do not change the requirements to apply the...Previous MatchNext Match

        3. EFFECTIVE DATE Previous MatchNext Match

          1. 98 Paragraph 52 was renumbered as 51A, paragraph 10 and the...Previous MatchNext Match

        4. WITHDRAWAL OF SIC-21 Previous MatchNext Match

          1. 99 The amendments made by Deferred Tax: Recovery of Underlying Assets,...Previous MatchNext Match

      5. INTERNATIONAL FINANCIAL REPORTING STANDARD 13 Fair Value Measurement Previous MatchNext Match

        1. OBJECTIVE Previous MatchNext Match

          1. 1 This IFRS: Previous MatchNext Match

          2. 2 Fair value is a market-based measurement, not an entity-specific measurement....Previous MatchNext Match

          3. 3 When a price for an identical asset or liability is...Previous MatchNext Match

          4. 4 The definition of fair value focuses on assets and liabilities...Previous MatchNext Match

        2. SCOPE Previous MatchNext Match

          1. 5 This IFRS applies when another IFRS requires or permits fair...Previous MatchNext Match

          2. 6 The measurement and disclosure requirements of this IFRS do not...Previous MatchNext Match

          3. 7 The disclosures required by this IFRS are not required for...Previous MatchNext Match

          4. 8 The fair value measurement framework described in this IFRS applies...Previous MatchNext Match

        3. MEASUREMENT Previous MatchNext Match

          1. Definition of fair value Previous MatchNext Match

            1. 9 This IFRS defines fair value as the price that would...Previous MatchNext Match

            2. 10 Paragraph B2 describes the overall fair value measurement approach. Previous MatchNext Match

          2. The asset or liability Previous MatchNext Match

            1. 11 A fair value measurement is for a particular asset or...Previous MatchNext Match

            2. 12 The effect on the measurement arising from a particular characteristic...Previous MatchNext Match

            3. 13 The asset or liability measured at fair value might be...Previous MatchNext Match

            4. 14 Whether the asset or liability is a stand-alone asset or...Previous MatchNext Match

          3. The transaction Previous MatchNext Match

            1. 15 A fair value measurement assumes that the asset or liability...Previous MatchNext Match

            2. 16 A fair value measurement assumes that the transaction to sell...Previous MatchNext Match

            3. 17 An entity need not undertake an exhaustive search of all...Previous MatchNext Match

            4. 18 If there is a principal market for the asset or...Previous MatchNext Match

            5. 19 The entity must have access to the principal (or most...Previous MatchNext Match

            6. 20 Although an entity must be able to access the market,...Previous MatchNext Match

            7. 21 Even when there is no observable market to provide pricing...Previous MatchNext Match

          4. Market participants Previous MatchNext Match

            1. 22 An entity shall measure the fair value of an asset...Previous MatchNext Match

            2. 23 In developing those assumptions, an entity need not identify specific...Previous MatchNext Match

          5. The price Previous MatchNext Match

            1. 24 Fair value is the price that would be received to...Previous MatchNext Match

            2. 25 The price in the principal (or most advantageous) market used...Previous MatchNext Match

            3. 26 Transaction costs do not include transport costs. If location is...Previous MatchNext Match

          6. Application to non-financial assets Previous MatchNext Match

            1. Highest and best use for non-financial assets Previous MatchNext Match

              1. 27 A fair value measurement of a non-financial asset takes into...Previous MatchNext Match

              2. 28 The highest and best use of a non-financial asset takes...Previous MatchNext Match

              3. 29 Highest and best use is determined from the perspective of...Previous MatchNext Match

              4. 30 To protect its competitive position, or for other reasons, an...Previous MatchNext Match

            2. Valuation premise for non-financial assets Previous MatchNext Match

              1. 31 The highest and best use of a non-financial asset establishes...Previous MatchNext Match

              2. 32 The fair value measurement of a non-financial asset assumes that...Previous MatchNext Match

              3. 33 Paragraph B3 describes the application of the valuation premise concept...Previous MatchNext Match

          7. Application to liabilities and an entity’s own equity instruments Previous MatchNext Match

            1. General principles Previous MatchNext Match

              1. 34 A fair value measurement assumes that a financial or non-financial...Previous MatchNext Match

              2. 35 Even when there is no observable market to provide pricing...Previous MatchNext Match

              3. 36 In all cases, an entity shall maximise the use of...Previous MatchNext Match

              4. Liabilities and equity instruments held by other parties as assets...Previous MatchNext Match

                1. 37 When a quoted price for the transfer of an identical...Previous MatchNext Match

                2. 38 In such cases, an entity shall measure the fair value...Previous MatchNext Match

                3. 39 An entity shall adjust the quoted price of a liability...Previous MatchNext Match

              5. Liabilities and equity instruments not held by other parties as...Previous MatchNext Match

                1. 40 When a quoted price for the transfer of an identical...Previous MatchNext Match

                2. 41 For example, when applying a present value technique an entity...Previous MatchNext Match

            2. Non-performance risk Previous MatchNext Match

              1. 42 The fair value of a liability reflects the effect of...Previous MatchNext Match

              2. 43 When measuring the fair value of a liability, an entity...Previous MatchNext Match

              3. 44 The fair value of a liability reflects the effect of...Previous MatchNext Match

            3. Restriction preventing the transfer of a liability or an entity’s...Previous MatchNext Match

              1. 45 When measuring the fair value of a liability or an...Previous MatchNext Match

              2. 46 For example, at the transaction date, both the creditor and...Previous MatchNext Match

            4. Financial liability with a demand feature Previous MatchNext Match

              1. 47 The fair value of a financial liability with a demand...Previous MatchNext Match

          8. Application to financial assets and financial liabilities with offsetting positions...Previous MatchNext Match

            1. 48 An entity that holds a group of financial assets and...Previous MatchNext Match

            2. 49 An entity is permitted to use the exception in paragraph...Previous MatchNext Match

            3. 50 The exception in paragraph 48 does not pertain to financial...Previous MatchNext Match

            4. 51 An entity shall make an accounting policy decision in accordance...Previous MatchNext Match

            5. 52 The exception in paragraph 48 applies only to financial assets...Previous MatchNext Match

            6. Exposure to market risks Previous MatchNext Match

              1. 53 When using the exception in paragraph 48 to measure the...Previous MatchNext Match

              2. 54 When using the exception in paragraph 48, an entity shall...Previous MatchNext Match

              3. 55 Similarly, the duration of the entity’s exposure to a particular...Previous MatchNext Match

            7. Exposure to the credit risk of a particular counterparty Previous MatchNext Match

              1. 56 When using the exception in paragraph 48 to measure the...Previous MatchNext Match

            8. Fair value at initial recognition Previous MatchNext Match

              1. 57 When an asset is acquired or a liability is assumed...Previous MatchNext Match

              2. 58 In many cases the transaction price will equal the fair...Previous MatchNext Match

              3. 59 When determining whether fair value at initial recognition equals the...Previous MatchNext Match

              4. 60 If another IFRS requires or permits an entity to measure...Previous MatchNext Match

          9. Valuation techniques Previous MatchNext Match

            1. 61 An entity shall use valuation techniques that are appropriate in...Previous MatchNext Match

            2. 62 The objective of using a valuation technique is to estimate...Previous MatchNext Match

            3. 63 In some cases a single valuation technique will be appropriate...Previous MatchNext Match

            4. 64 If the transaction price is fair value at initial recognition...Previous MatchNext Match

            5. 65 Valuation techniques used to measure fair value shall be applied...Previous MatchNext Match

            6. 66 Revisions resulting from a change in the valuation technique or...Previous MatchNext Match

          10. Inputs to valuation techniques Previous MatchNext Match

            1. General principles Previous MatchNext Match

              1. 67 Valuation techniques used to measure fair value shall maximise the...Previous MatchNext Match

              2. 68 Examples of markets in which inputs might be observable for...Previous MatchNext Match

              3. 69 An entity shall select inputs that are consistent with the...Previous MatchNext Match

            2. Inputs based on bid and ask prices Previous MatchNext Match

              1. 70 If an asset or a liability measured at fair value...Previous MatchNext Match

              2. 71 This IFRS does not preclude the use of mid-market pricing...Previous MatchNext Match

          11. Fair value hierarchy Previous MatchNext Match

            1. 72 To increase consistency and comparability in fair value measurements and...Previous MatchNext Match

            2. 73 In some cases, the inputs used to measure the fair...Previous MatchNext Match

            3. 74 The availability of relevant inputs and their relative subjectivity might...Previous MatchNext Match

            4. 75 If an observable input requires an adjustment using an unobservable...Previous MatchNext Match

            5. Level 1 inputs Previous MatchNext Match

              1. 76 Level 1 inputs are quoted prices (unadjusted) in active markets...Previous MatchNext Match

              2. 77 A quoted price in an active market provides the most...Previous MatchNext Match

              3. 78 A Level 1 input will be available for many financial...Previous MatchNext Match

              4. 79 An entity shall not make an adjustment to a Level...Previous MatchNext Match

              5. 80 If an entity holds a position in a single asset...Previous MatchNext Match

            6. Level 2 inputs Previous MatchNext Match

              1. 81 Level 2 inputs are inputs other than quoted prices included...Previous MatchNext Match

              2. 82 If the asset or liability has a specified (contractual) term,...Previous MatchNext Match

              3. 83 Adjustments to Level 2 inputs will vary depending on factors...Previous MatchNext Match

              4. 84 An adjustment to a Level 2 input that is significant...Previous MatchNext Match

              5. 85 Paragraph B35 describes the use of Level 2 inputs for...Previous MatchNext Match

            7. Level 3 inputs Previous MatchNext Match

              1. 86 Level 3 inputs are unobservable inputs for the asset or...Previous MatchNext Match

              2. 87 Unobservable inputs shall be used to measure fair value to...Previous MatchNext Match

              3. 88 Assumptions about risk include the risk inherent in a particular...Previous MatchNext Match

              4. 89 An entity shall develop unobservable inputs using the best information...Previous MatchNext Match

              5. 90 Paragraph B36 describes the use of Level 3 inputs for...Previous MatchNext Match

        4. DISCLOSURE Previous MatchNext Match

          1. 91 An entity shall disclose information that helps users of its...Previous MatchNext Match

          2. 92 To meet the objectives in paragraph 91, an entity shall...Previous MatchNext Match

          3. 93 To meet the objectives in paragraph 91, an entity shall...Previous MatchNext Match

          4. 94 An entity shall determine appropriate classes of assets and liabilities...Previous MatchNext Match

          5. 95 An entity shall disclose and consistently follow its policy for...Previous MatchNext Match

          6. 96 If an entity makes an accounting policy decision to use...Previous MatchNext Match

          7. 97 For each class of assets and liabilities not measured at...Previous MatchNext Match

          8. 98 For a liability measured at fair value and issued with...Previous MatchNext Match

          9. 99 An entity shall present the quantitative disclosures required by this...Previous MatchNext Match

        5. Appendix A Defined terms Previous MatchNext Match

        6. Appendix B Application guidance Previous MatchNext Match

          1. B1 The judgements applied in different valuation situations may be different....Previous MatchNext Match

          2. THE FAIR VALUE MEASUREMENT APPROACH Previous MatchNext Match

            1. B2 The objective of a fair value measurement is to estimate...Previous MatchNext Match

          3. VALUATION PREMISE FOR NON-FINANCIAL ASSETS (PARAGRAPHS 31–33) Previous MatchNext Match

            1. B3 When measuring the fair value of a non-financial asset used...Previous MatchNext Match

          4. FAIR VALUE AT INITIAL RECOGNITION (PARAGRAPHS 57–60) Previous MatchNext Match

            1. B4 When determining whether fair value at initial recognition equals the...Previous MatchNext Match

          5. VALUATION TECHNIQUES (PARAGRAPHS 61–66) Previous MatchNext Match

            1. Market approach Previous MatchNext Match

              1. B5 The market approach uses prices and other relevant information generated...Previous MatchNext Match

              2. B6 For example, valuation techniques consistent with the market approach often...Previous MatchNext Match

              3. B7 Valuation techniques consistent with the market approach include matrix pricing....Previous MatchNext Match

            2. Cost approach Previous MatchNext Match

              1. B8 The cost approach reflects the amount that would be required...Previous MatchNext Match

              2. B9 From the perspective of a market participant seller, the price...Previous MatchNext Match

            3. Income approach Previous MatchNext Match

              1. B10 The income approach converts future amounts (eg cash flows or...Previous MatchNext Match

              2. B11 Those valuation techniques include, for example, the following: Previous MatchNext Match

              3. Present value techniques Previous MatchNext Match

                1. B12 Paragraphs B13–B30 describe the use of present value techniques to...Previous MatchNext Match

              4. The components of a present value measurement Previous MatchNext Match

                1. B13 Present value (ie an application of the income approach) is...Previous MatchNext Match

                2. General principles Previous MatchNext Match

                  1. B14 Present value techniques differ in how they capture the elements...Previous MatchNext Match

                3. Risk and uncertainty Previous MatchNext Match

                  1. B15 A fair value measurement using present value techniques is made...Previous MatchNext Match

                  2. B16 Market participants generally seek compensation (ie a risk premium) for...Previous MatchNext Match

                  3. B17 Present value techniques differ in how they adjust for risk...Previous MatchNext Match

                4. Discount rate adjustment technique Previous MatchNext Match

                  1. B18 The discount rate adjustment technique uses a single set of...Previous MatchNext Match

                  2. B19 The discount rate adjustment technique requires an analysis of market...Previous MatchNext Match

                  3. B20 To illustrate a build-up approach, assume that Asset A is...Previous MatchNext Match

                  4. B21 On the basis of the timing of the contractual payments...Previous MatchNext Match

                  5. B22 When the discount rate adjustment technique is applied to fixed...Previous MatchNext Match

                5. Expected present value technique Previous MatchNext Match

                  1. B23 The expected present value technique uses as a starting point...Previous MatchNext Match

                  2. B24 In making an investment decision, risk-averse market participants would take...Previous MatchNext Match

                  3. B25 Method 1 of the expected present value technique adjusts the...Previous MatchNext Match

                  4. B26 In contrast, Method 2 of the expected present value technique...Previous MatchNext Match

                  5. B27 To illustrate Methods 1 and 2, assume that an asset...Previous MatchNext Match

                  6. B28 In this simple illustration, the expected cash flows (CU780) represent...Previous MatchNext Match

                  7. B29 In theory, the present value (ie the fair value) of...Previous MatchNext Match

                  8. B30 When using an expected present value technique to measure fair...Previous MatchNext Match

          6. APPLYING PRESENT VALUE TECHNIQUES TO LIABILITIES AND AN ENTITY’S OWN...Previous MatchNext Match

            1. B31 When using a present value technique to measure the fair...Previous MatchNext Match

            2. B32 For example, a non-financial liability does not contain a contractual...Previous MatchNext Match

            3. B33 An entity can include a risk premium in the fair...Previous MatchNext Match

          7. INPUTS TO VALUATION TECHNIQUES (PARAGRAPHS 67–71) Previous MatchNext Match

            1. B34 Examples of markets in which inputs might be observable for...Previous MatchNext Match

          8. FAIR VALUE HIERARCHY (PARAGRAPHS 72–90) Previous MatchNext Match

            1. Level 2 inputs (paragraphs 81–85) Previous MatchNext Match

              1. B35 Examples of Level 2 inputs for particular assets and liabilities...Previous MatchNext Match

            2. Level 3 inputs (paragraphs 86–90) Previous MatchNext Match

              1. B36 Examples of Level 3 inputs for particular assets and liabilities...Previous MatchNext Match

          9. MEASURING FAIR VALUE WHEN THE VOLUME OR LEVEL OF ACTIVITY...Previous MatchNext Match

            1. B37 The fair value of an asset or a liability might...Previous MatchNext Match

            2. B38 If an entity concludes that there has been a significant...Previous MatchNext Match

            3. B39 This IFRS does not prescribe a methodology for making significant...Previous MatchNext Match

            4. B40 If there has been a significant decrease in the volume...Previous MatchNext Match

            5. B41 Even when there has been a significant decrease in the...Previous MatchNext Match

            6. B42 Estimating the price at which market participants would be willing...Previous MatchNext Match

            7. Identifying transactions that are not orderly Previous MatchNext Match

              1. B43 The determination of whether a transaction is orderly (or is...Previous MatchNext Match

              2. B44 An entity shall consider all the following when measuring fair...Previous MatchNext Match

            8. Using quoted prices provided by third parties Previous MatchNext Match

              1. B45 This IFRS does not preclude the use of quoted prices...Previous MatchNext Match

              2. B46 If there has been a significant decrease in the volume...Previous MatchNext Match

              3. B47 Furthermore, the nature of a quote (eg whether the quote...Previous MatchNext Match

        7. Appendix C Effective date and transition Previous MatchNext Match

          1. C1 An entity shall apply this IFRS for annual periods beginning...Previous MatchNext Match

          2. C2 This IFRS shall be applied prospectively as of the beginning...Previous MatchNext Match

          3. C3 The disclosure requirements of this IFRS need not be applied...Previous MatchNext Match

        8. Appendix D Amendments to other IFRSs Previous MatchNext Match

          1. CHANGE IN DEFINITION Previous MatchNext Match

            1. D1 In IFRSs 1, 3–5 and 9 (issued in October 2010)...Previous MatchNext Match

            2. IFRS 1 First-time Adoption of International Financial Reporting Standards (as amended at...Previous MatchNext Match

              1. D2 Paragraph 19 is deleted. Previous MatchNext Match

              2. D3 Paragraph 39J is added as follows: Previous MatchNext Match

              3. D4 Paragraphs D15 and D20 are amended as follows: Previous MatchNext Match

            3. IFRS 2 Share-based Payment Previous MatchNext Match

              1. D5 Paragraph 6A is added as follows: Previous MatchNext Match

            4. IFRS 3 Business Combinations Previous MatchNext Match

              1. D6 Paragraphs 20, 29, 33 and 47 are amended as follows:...Previous MatchNext Match

              2. D7 Paragraph 64F is added as follows: Previous MatchNext Match

              3. D8 In Appendix B paragraphs B22 and B40, B43–B46, B49 and...Previous MatchNext Match

            5. IFRS 4 Insurance Contracts Previous MatchNext Match

              1. D9 Paragraph 41E is added as follows: Previous MatchNext Match

            6. IFRS 5 Non-current Assets Held for Sale and Discontinued Operations Previous MatchNext Match

              1. D10 Paragraph 44H is added as follows: Previous MatchNext Match

            7. IFRS 7 Financial Instruments: Disclosures (as amended at October 2009) Previous MatchNext Match

              1. D11 [Not applicable to requirements] Previous MatchNext Match

              2. D12 Paragraph 3 is amended as follows: Previous MatchNext Match

              3. D13 Paragraphs 27–27B are deleted. Previous MatchNext Match

              4. D14 Paragraph 28 is amended as follows: Previous MatchNext Match

              5. D15 Paragraph 29 is amended as follows: Previous MatchNext Match

              6. D16 Paragraph 44P is added as follows: Previous MatchNext Match

              7. D17 In Appendix A the definition of other price risk is...Previous MatchNext Match

            8. IFRS 9 Financial Instruments (issued November 2009) Previous MatchNext Match

              1. D18 Paragraph 5.1.1 is amended as follows: Previous MatchNext Match

              2. D19 Paragraph 5.1.1A is added as follows: Previous MatchNext Match

              3. D20 Paragraphs 5.2.1, 5.3.2, 8.2.5 and 8.2.11 are amended as follows:...Previous MatchNext Match

              4. D21 Paragraph 8.1.3 is added as follows: Previous MatchNext Match

              5. D22 In Appendix A the introductory text is amended as follows:...Previous MatchNext Match

              6. D23 In Appendix B paragraph B5.1, the heading above paragraph B5.5...Previous MatchNext Match

                1. Investments in equity instruments (and contracts on those investments) Previous MatchNext Match

                  1. B5.5 … That may be the case if insufficient more recent...Previous MatchNext Match

                  2. B5.7 … In such cases, the entity must measure fair value....Previous MatchNext Match

                  3. D24 In Appendix C, in paragraph C8 the amendments to paragraph...Previous MatchNext Match

                  4. D25 In paragraph C20 the amendments to paragraph 1 of IAS...Previous MatchNext Match

                  5. D26 In paragraph C22 the amendments to paragraph 1 of IAS...Previous MatchNext Match

                  6. D27 In paragraph C27 the amendments to paragraphs 9, 13 and...Previous MatchNext Match

                  7. D28 In paragraph C28 the amendments to paragraphs AG64, AG80, AG81...Previous MatchNext Match

            9. IFRS 9 Financial Instruments (issued October 2010) Previous MatchNext Match

              1. D29 [Not applicable to requirements] Previous MatchNext Match

              2. D30 Paragraphs 3.2.14, 4.3.7 and 5.1.1 are amended as follows: Previous MatchNext Match

              3. D31 Paragraph 5.1.1A is added as follows: Previous MatchNext Match

              4. D32 Paragraph 5.2.1 is amended as follows: Previous MatchNext Match

              5. D33 The heading above paragraph 5.4.1 and paragraphs 5.4.1–5.4.3 are deleted....Previous MatchNext Match

              6. D34 Paragraphs 5.6.2, 7.2.5, 7.2.11 and 7.2.12 are amended as follows:...Previous MatchNext Match

              7. D35 Paragraph 7.1.3 is added as follows: Previous MatchNext Match

              8. D36 In Appendix B paragraphs B3.2.11, B3.2.17, B5.1.1 and B5.2.2 are...Previous MatchNext Match

              9. D37 Paragraphs B5.1.2A and B5.2.2A are added as follows: Previous MatchNext Match

              10. D38 Paragraphs B5.4.1–B5.4.13 and their related headings are deleted. Previous MatchNext Match

              11. D39 The heading above paragraph B5.4.14 and paragraphs B5.4.14, B5.4.16 and...Previous MatchNext Match

                1. Investments in equity instruments (and contracts on those investments) Previous MatchNext Match

                  1. B5.4.14 … That may be the case if insufficient more recent...Previous MatchNext Match

                  2. B5.4.16 … To the extent that any such relevant factors exist,...Previous MatchNext Match

                  3. B5.7.20 As with all fair value measurements, an entity’s measurement method...Previous MatchNext Match

              12. D40 In Appendix C, in paragraph C3 the amendments to paragraphs...Previous MatchNext Match

              13. D41 In paragraph C11 the amendments to paragraph 28 of IFRS...Previous MatchNext Match

              14. D42 In paragraph C26 the amendments to paragraph 1 of IAS...Previous MatchNext Match

              15. D43 In paragraph C28 the amendments to paragraph 1 of IAS...Previous MatchNext Match

              16. D44 In paragraph C30 the amendments to paragraph 23 of IAS...Previous MatchNext Match

              17. D45 In paragraph C49 the amendments to paragraph A8 of IFRIC...Previous MatchNext Match

              18. D46 In paragraph C53 the amendments to paragraph 7 of IFRIC...Previous MatchNext Match

            10. IAS 1 Presentation of Financial Statements Previous MatchNext Match

              1. D47 Paragraphs 128 and 133 are amended as follows: Previous MatchNext Match

              2. D48 Paragraph 139I is added as follows: Previous MatchNext Match

            11. IAS 2 Inventories Previous MatchNext Match

              1. D49 Paragraph 7 is amended as follows: Previous MatchNext Match

              2. D50 Paragraph 40C is added as follows: Previous MatchNext Match

            12. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors Previous MatchNext Match

              1. D51 Paragraph 52 is amended as follows: Previous MatchNext Match

              2. D52 Paragraph 54C is added as follows: Previous MatchNext Match

            13. IAS 10 Events after the Reporting Period Previous MatchNext Match

              1. D53 Paragraph 11 is amended as follows: Previous MatchNext Match

              2. D54 Paragraph 23A is added as follows: Previous MatchNext Match

            14. IAS 16 Property, Plant and Equipment Previous MatchNext Match

              1. D55 Paragraph 26 is amended as follows: Previous MatchNext Match

              2. D56 Paragraphs 32 and 33 are deleted. Previous MatchNext Match

              3. D57 Paragraphs 35 and 77 are amended as follows: Previous MatchNext Match

              4. D58 Paragraph 81F is added as follows: Previous MatchNext Match

            15. IAS 17 Leases Previous MatchNext Match

              1. D59 Paragraph 6A is added as follows: Previous MatchNext Match

            16. IAS 18 Revenue Previous MatchNext Match

              1. D60 Paragraph 42 is added as follows: Previous MatchNext Match

            17. IAS 19 Employee Benefits Previous MatchNext Match

              1. D61 [Not applicable to requirements] Previous MatchNext Match

              2. D62 Paragraphs 50 and 102 are amended as follows: Previous MatchNext Match

              3. D63 Paragraph 162 is added as follows: Previous MatchNext Match

            18. IAS 20 Accounting for Government Grants and Disclosure of Government Assistance Previous MatchNext Match

              1. D64 Paragraph 45 is added as follows: Previous MatchNext Match

            19. IAS 21 The Effects of Changes in Foreign Exchange Rates Previous MatchNext Match

              1. D65 Paragraph 23 is amended as follows: Previous MatchNext Match

              2. D66 Paragraph 60G is added as follows: Previous MatchNext Match

            20. IAS 28 Investments in Associates (as amended at October 2009) Previous MatchNext Match

              1. D67 Paragraphs 1 and 37 are amended as follows: Previous MatchNext Match

              2. D68 Paragraph 41G is added as follows: Previous MatchNext Match

            21. IAS 31 Interests in Joint Ventures (as amended at October 2009) Previous MatchNext Match

              1. D69 Paragraph 1 is amended as follows: Previous MatchNext Match

              2. D70 Paragraph 58F is added as follows: Previous MatchNext Match

            22. IAS 32 Financial Instruments: Presentation (as amended at September 2010) Previous MatchNext Match

              1. D71 Paragraph 23 is amended as follows: Previous MatchNext Match

              2. D72 Paragraph 97J is added as follows: Previous MatchNext Match

              3. D73 In the Application Guidance paragraph AG31 is amended as follows:...Previous MatchNext Match

            23. IAS 33 Earnings per Share Previous MatchNext Match

              1. D74 Paragraphs 8 and 47A are amended as follows: Previous MatchNext Match

              2. D75 Paragraph 74C is added as follows: Previous MatchNext Match

              3. D76 In Appendix A paragraph A2 is amended as follows: Previous MatchNext Match

            24. IAS 34 Interim Financial Reporting (as amended at May 2010) Previous MatchNext Match

              1. D77 [Not applicable to requirements] Previous MatchNext Match

              2. D78 Paragraph 16A(j) is added as follows: Previous MatchNext Match

              3. D79 Paragraph 50 is added as follows: Previous MatchNext Match

            25. IAS 36 Impairment of Assets Previous MatchNext Match

              1. D80 Paragraph 5 is amended as follows: Previous MatchNext Match

              2. D81 Paragraph 6 is amended as follows (as a consequence of...Previous MatchNext Match

              3. D82 Paragraphs 12, 20 and 22 are amended as follows: Previous MatchNext Match

              4. D83 Paragraphs 25–27 are deleted. Previous MatchNext Match

              5. D84 Paragraph 28 is amended as follows: Previous MatchNext Match

              6. D85 Paragraph 53A is added as follows: Previous MatchNext Match

              7. D86 Paragraphs 78, 105, 111, 130 and 134 are amended as...Previous MatchNext Match

              8. D87 Paragraph 140I is added as follows: Previous MatchNext Match

            26. IAS 38 Intangible Assets Previous MatchNext Match

              1. D88 Paragraph 8 is amended as follows: Previous MatchNext Match

              2. D89 Paragraph 33 is amended as follows: Previous MatchNext Match

              3. D90 The heading above paragraph 35 is amended as follows: Previous MatchNext Match

                1. Intangible asset acquired in a business combination Previous MatchNext Match

                  1. D91 Paragraphs 39–41 are deleted. Previous MatchNext Match

                  2. D92 Paragraphs 47, 50, 75, 78, 82, 84 and 100 are...Previous MatchNext Match

                  3. D93 Paragraph 124 is amended as follows: Previous MatchNext Match

                  4. D94 Paragraph 130E is deleted. Previous MatchNext Match

                  5. D95 Paragraph 130G is added as follows: Previous MatchNext Match

            27. IAS 39 Financial Instruments: Recognition and Measurement (as amended at October 2009)...Previous MatchNext Match

              1. D96 [Not applicable to requirements] Previous MatchNext Match

              2. D97 Paragraph 9 is amended as follows: Previous MatchNext Match

              3. D98 Paragraphs 13 and 28 are amended as follows: Previous MatchNext Match

              4. D99 Paragraph 43A is added. Previous MatchNext Match

              5. D100 Paragraph 47 is amended as follows: Previous MatchNext Match

              6. D101 Paragraphs 48–49 are deleted. Previous MatchNext Match

              7. D102 Paragraph 88 is amended as follows: Previous MatchNext Match

              8. D103 Paragraph 103Q is added as follows: Previous MatchNext Match

              9. D104 In Appendix A paragraphs AG46, AG52 and AG64 are amended...Previous MatchNext Match

              10. D105 Paragraph AG64 is amended as follows: Previous MatchNext Match

              11. D106 Paragraphs AG69–AG75 and their related headings are deleted. Previous MatchNext Match

              12. D107 Paragraph AG76 is amended as follows: Previous MatchNext Match

              13. D108 Paragraph AG76A is amended as follows: Previous MatchNext Match

              14. D109 Paragraphs AG77–AG79 are deleted. Previous MatchNext Match

              15. D110 Paragraphs AG80 and AG81 are amended as follows: Previous MatchNext Match

              16. D111 The heading above paragraph AG82 and paragraph AG82 are deleted....Previous MatchNext Match

              17. D112 Paragraph AG96 is amended as follows: Previous MatchNext Match

            28. IAS 40 Investment Property Previous MatchNext Match

              1. D113 [Not applicable to requirements] Previous MatchNext Match

              2. D114 Paragraphs 26, 29 and 32 are amended as follows: Previous MatchNext Match

              3. D115 Paragraphs 36–39 are deleted. Previous MatchNext Match

              4. D116 Paragraph 40 is amended as follows: Previous MatchNext Match

              5. D117 Paragraphs 42–47, 49, 51 and 75(d) are deleted. Previous MatchNext Match

              6. D118 Paragraph 48 is amended as follows: Previous MatchNext Match

              7. D119 The heading above paragraph 53 and paragraphs 53 and 53B...Previous MatchNext Match

                1. Inability to measure fair value reliably Previous MatchNext Match

                  1. 53 There is a rebuttable presumption that an entity can reliably...Previous MatchNext Match

                  2. 53B … An entity that has measured an item of investment...Previous MatchNext Match

              8. D120 Paragraph 75(d) is deleted. Previous MatchNext Match

              9. D121 Paragraphs 78–80 are amended as follows: Previous MatchNext Match

              10. D122 Paragraph 85B is amended as follows: Previous MatchNext Match

              11. D123 Paragraph 85C is added as follows: Previous MatchNext Match

            29. IAS 41 Agriculture Previous MatchNext Match

              1. D124-125 [Not applicable to requirements] Previous MatchNext Match

              2. D126 Paragraphs 8, 15 and 16 are amended as follows: Previous MatchNext Match

              3. D127 Paragraphs 9, 17–21 and 23 are deleted. Previous MatchNext Match

              4. D128 Paragraphs 25 and 30 are amended as follows: Previous MatchNext Match

              5. D129 Paragraphs 47 and 48 are deleted. Previous MatchNext Match

              6. D130 Paragraph 61 is added as follows: Previous MatchNext Match

            30. IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments (as amended...Previous MatchNext Match

              1. D131 [Not applicable to requirements] Previous MatchNext Match

              2. D132 Below the heading ‘References’ a reference to IFRS 13 Fair...Previous MatchNext Match

              3. D133 Paragraph 16 is added as follows: Previous MatchNext Match

              4. D134 In the Appendix paragraph A8 is amended as follows: Previous MatchNext Match

            31. IFRIC 4 Determining whether an Arrangement contains a Lease Previous MatchNext Match

              1. D135 Below the heading ‘References’ a reference to IFRS 13 Fair...Previous MatchNext Match

              2. D136 In paragraph 15(a) ‘fair value’ is footnoted as follows: Previous MatchNext Match

            32. IFRIC 13 Customer Loyalty Programmes Previous MatchNext Match

              1. D137 Below the heading ‘References’ a reference to IFRS 13 Fair...Previous MatchNext Match

              2. D138 Paragraph 6 is amended as follows: Previous MatchNext Match

              3. D139 Paragraph 10B is added as follows: Previous MatchNext Match

              4. D140 In the Application Guidance paragraphs AG1–AG3 are amended as follows:...Previous MatchNext Match

            33. IFRIC 17 Distributions of Non-cash Assets to Owners Previous MatchNext Match

              1. D141 [Not applicable to requirements] Previous MatchNext Match

              2. D142 Below the heading ‘References’ a reference to IFRS 13 Fair...Previous MatchNext Match

              3. D143 Paragraph 17 is amended as follows: Previous MatchNext Match

              4. D144 Paragraph 20 is added as follows: Previous MatchNext Match

            34. IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments (as amended at September...Previous MatchNext Match

              1. D145 [Not applicable to requirements] Previous MatchNext Match

              2. D146 Below the heading ‘References’ a reference to IFRS 13 Fair...Previous MatchNext Match

              3. D147 Paragraph 7 is amended as follows: Previous MatchNext Match

              4. D148 Paragraph 15 is added as follows: Previous MatchNext Match

      6. IFRIC INTERPRETATION 20 Stripping Costs in the Production Phase of a Surface Mine...Previous MatchNext Match

        1. REFERENCES Previous MatchNext Match

        2. BACKGROUND Previous MatchNext Match

          1. 1 In surface mining operations, entities may find it necessary to...Previous MatchNext Match

          2. 2 During the development phase of the mine (before production begins),...Previous MatchNext Match

          3. 3 A mining entity may continue to remove overburden and to...Previous MatchNext Match

          4. 4 The material removed when stripping in the production phase will...Previous MatchNext Match

          5. 5 This Interpretation considers when and how to account separately for...Previous MatchNext Match

        3. SCOPE Previous MatchNext Match

          1. 6 This Interpretation applies to waste removal costs that are incurred...Previous MatchNext Match

        4. ISSUES Previous MatchNext Match

          1. 7 This Interpretation addresses the following issues: Previous MatchNext Match

        5. CONSENSUS Previous MatchNext Match

          1. Recognition of production stripping costs as an asset Previous MatchNext Match

            1. 8 To the extent that the benefit from the stripping activity...Previous MatchNext Match

            2. 9 An entity shall recognise a stripping activity asset if, and...Previous MatchNext Match

            3. 10 The stripping activity asset shall be accounted for as an...Previous MatchNext Match

            4. 11 The stripping activity asset’s classification as a tangible or intangible...Previous MatchNext Match

          2. Initial measurement of the stripping activity asset Previous MatchNext Match

            1. 12 The entity shall initially measure the stripping activity asset at...Previous MatchNext Match

            2. 13 When the costs of the stripping activity asset and the...Previous MatchNext Match

          3. Subsequent measurement of the stripping activity asset Previous MatchNext Match

            1. 14 After initial recognition, the stripping activity asset shall be carried...Previous MatchNext Match

            2. 15 The stripping activity asset shall be depreciated or amortised on...Previous MatchNext Match

            3. 16 The expected useful life of the identified component of the...Previous MatchNext Match

        6. Appendix A Effective date and transition Previous MatchNext Match

          1. A1 An entity shall apply this Interpretation for annual periods beginning...Previous MatchNext Match

          2. A2 An entity shall apply this Interpretation to production stripping costs...Previous MatchNext Match

          3. A3 As at the beginning of the earliest period presented, any...Previous MatchNext Match

          4. A4 If there is no identifiable component of the ore body...Previous MatchNext Match

        7. Appendix B The amendments in this appendix shall be applied for annual...Previous MatchNext Match

          1. Amendments to IFRS 1 First-time Adoption of International Financial Reporting...Previous MatchNext Match

            1. B1 In Appendix D, paragraph D1 is amended as follows: Previous MatchNext Match

            2. B2 After paragraph D31 a heading and paragraph D32 are added:...Previous MatchNext Match

              1. Stripping costs in the production phase of a surface mine...Previous MatchNext Match

                1. D32 A first-time adopter may apply the transitional provisions set out...Previous MatchNext Match

            3. B3 After paragraph 39L paragraph 39M is added: Previous MatchNext Match

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