Berry Street Web Docs Financial Report 2010 | Page 17

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010


AASB 2009–13: Amendments to Australian Accounting Standards arising from Interpretation 19
[AASB 1] (applicable for annual reporting periods commencing on or after 1 July 2010).
This Standard makes amendments to AASB 1 arising from the issue of Interpretation 19. The
amendments allow a first-time adopter to apply the transitional provisions in Interpretation 19. This
Interpretation is not expected to impact the association.



AASB Interpretation 19: Extinguishing Financial Liabilities with Equity Instruments (applicable for
annual reporting periods commencing from 1 July 2010).
This Interpretation deals with how a debtor would account for the extinguishment of a liability through
the issue of equity instruments. The Interpretation states that the issue of equity should be treated as
the consideration paid to extinguish the liability, and the equity instruments issued should be
recognised at their fair value unless fair value cannot be measured reliably in which case they shall
be measured at the fair value of the liability extinguished. The Interpretation deals with situations
where either partial or full settlement of the liability has occurred. This Interpretation is not expected to
impact the association.
The association does not anticipate early adoption of any of the above Australian Accounting
Standards.

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