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AASB 139 - Financial Instruments: Recognition and Measurement
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Summary 
Developments, Key Differences & History 
Compared to IFRS 
Interpretations 
Rejection Notices 
Questions & Answers 
Articles 
AASB website 

 
Additions 
Aus 1.1  
Which entities AASB 139 applies to, ie. reporting entities and general purpose financial reports. 
 
Aus 1.2  
The application date of AASB 139, ie. annual reporting periods beginning 1 January 2005.  
 
Aus 1.3  
Prohibits early application of AASB 139.  
 
Aus 1.4  
Makes the requirements of AASB 139 subject to AASB 1031 Materiality.  
 
Aus 1.5  
Notice of the new Standard published on 22 July 2004.  
 
Deletions 
103  
Effective date of IAS 39.  
 
104  
IAS 39 must be applied retrospectively except as set out in paragraphs 105 – 108.  
 
105  
On initial application an entity may designate a previously recognised financial asset or financial liability as one that is at fair value through the profit or loss or available for sale.  
 
106  
The de-recognition requirements at paragraphs 15 – 37 and Appendix A paragraphs AG36 – AG52 must be applied prospectively except as allowed by paragraph 107.  
 
107  
The derecognition requirements at paragraphs 15 – 37 and Appendix A paragraphs AG36 – AG52 may be applied retrospectively from a date of the entity’s choosing provided timely information is available.  
 
108  
The carrying amount of non-financial assets and non-financial liabilities must not be adjusted to exclude gains and losses related to cash flow hedges that were recognised before IAS 39 applied.  
 
109  
Reference to superseded IAS 39.  
 
110  
Reference to superseded Implementation Guidance for IAS 39.