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• Interpretation 9 
  Reassessment of Embedded Derivatives 
   
  Operative date: 1 June 2006 
  Issue date: April 2006 
   
  An entity reassesses whether an embedded derivative in a host contract is required to be separated and accounted for as a derivative when there is a change in the contract terms that significantly modifies the cash flows that would otherwise be required. 
   
  Related AASB standards: AASB 3, AASB 3, AASB 139.
 
 

• Interpretation 11 
  AASB 2 – Group and Treasury Share Transactions 
   
  Operative date: 1 March 2007 
  Issue date: February 2007 
   
  Share based payment transactions include those where:
  • the entity chooses or is required to buy equity instruments from another party to satisfy its obligations to its employees
  • the employee’s rights to the equity instruments were granted by the entity or its shareholder
  • the arrangement was settled by the entity or its shareholder.
   
  When a parent grants rights to its equity instruments to the employees of its subsidiary, if the arrangement is accounted for as equity-settled in the consolidated accounts, the subsidiary measures the services received using the AASB 2 requirements for equity-settled transactions, and recognises a corresponding increase in equity as a contribution from the parent. 
   
  When a subsidiary grants rights to equity instruments of its parent to its employees, this is accounted as cash-settled transaction under AASB 2.
 
 
Related AASB standards: AASB 1, AASB 2, AASB 108, AASB 132. 
 

• Interpretation 12 
  Service Concession Arrangements 
   
  Operative date: 1 January 2009  
  Issue date: June 2007 
   
  In a public-to-private service concession arrangement, the operator is required to:
  • Recognise and measure revenue received under the contract in accordance with AASB 118 Revenue and AASB 111 Construction Contracts.
   
  
  • Allocate the consideration received to the different elements (eg construction and maintenance) of the contract, based on each identifiable element’s fair value.
   
  
  • Recognise either:
  • a financial asset, to the extent that the operator has an unconditional right to receive cash or another financial asset; or
   
  
  • an intangible asset, to the extent that the operator receives a right to charge users of the public service.
   
  Related AASB Standards: AASB 1, AASB 7, AASB 108, AASB 111, AASB 116, AASB 117, AASB 118, AASB 120, AASB 123, AASB 132, AASB 136, AASB 137, AASB 138, AASB 139
 
 

• Interpretation 18 
  Transfers of Assets from Customers 
   
  Operative date: 1 July 2009 
  Issue date: March 2009 
   
  This Interpretation deals with accounting for the transfers of items of property, plant and equipment, or transfers of cash, by entities that receive such transfers from their customers. It requires revenue to be recognised in respect of such transfers as each separately identifiable service specified in the agreement with the customer is provided. An example could be connecting the customer to a network, providing the customer with ongoing access to a supply of goods or services, or both. When applied, AASB Interpretation 18 supersedes AASB Interpretation 1017 Developer and Customer Contributions for Connection to a Price-Regulated Network.  
   
  Related AASB Standards: For AASB 1, AASB 108, AASB 116, AASB 118 and AASB 120.  
   
  
• Interpretation 1001 
  Consolidated Financial Reports in relation to Pre-Date-of-Transition Dual Listed Company Arrangements 
   
  Operative date: Ending 31 December 2005 
  Issue date: July 2005 
   
  Where the entities combining under the dual listed company arrangement act in substance as a single parent, consolidated financial reports are prepared by combining the financial reports of the dual listed entities.  
   
  NB When AASB 3 (revised) is operative from 1 January 2009, Interpretation 1001 will be superseded. 
   
  Related AASB standards: AASB 1, AASB 3, AASB 108, AASB 127, AASB 134.
 
 

• Interpretation 1013 
  Consolidated Financial Reports in relation to Pre-Date-of-Transition Stapling Arrangements 
   
  Operative date: Ending 31 December 2005 
  Issue date: April 2005 
   
  Entities under a stapling arrangement must identify an acquirer, which must prepare consolidated financial statements under AASB 127 Consolidated and Separate Financial Statements.  
   
  NB When AASB 3 (revised) is operative from 1 January 2009, Interpretation 1013 will be superseded. 
   
  Related AASB standards: AASB 1, AASB 3, AASB 108, AASB 127, AASB 134.
 
 

• Interpretatation 1052 
  Tax Consolidation Accounting 
   
  Operative date: Ending 31 December 2005 
  Issue date: June 2005 
   
  This Interpretation specifies the accounting of a tax consolidated group, which includes:
   
  
  • All Tax Funding Arrangement (TFA) amounts are recognised as inter-entity balances
   
  
  • Each subsidiary in the group must recognise its own current and deferred taxes
   
  
  • Consolidated current and deferred tax amounts for the group is allocated using a systematic approach consistent with the principles of AASB 112 Income Taxes, such as the ‘stand-alone taxpayer’ approach and the ‘separate taxpayer within group’ approach
   
  
  • Current tax liabilities (or assets) and deferred tax assets recognised by a subsidiary for the period are transferred to the head entity
   
  
  • Differences between the amounts transferred and amounts contributed under a TFA will be recognised in equity.
   
  Related AASB standards: AASB 1, AASB 112, AASB 118, AASB 124, AASB 127, AASB 137.