Page 102 - Sundance Resources 2014 Annual Report

100 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2014
NOTE 24. SIGNIFICANT ACCOUNTING POLICIES (continued)
Adoption of new and revised accounting standards
At the date of the authorisation of the financial report, a number of Standards and Interpretations were in issue but not yet
effective. Initial application of the following Standards will not affect the amounts recognised in the financial report, but may
change the disclosures presently made in relation to the Group and the Company’s financial report:
Standard
Effective for annual
reporting periods
beginning on or after
Expected to be initially
applied in the financial
year ending
AASB 2012-3 ‘Amendments to Australian Accounting Standards –
Offsetting Financial Assets and Financial Liabilities’
1 January 2014 30 June 2015
AASB 2013-3 ‘Amendments to AASB 136 - Recoverable Amount
Disclosures for Non-Financial Assets’
1 January 2014 30 June 2015
AASB 2014-1 Amendments to Australian Accounting Standards [Part A
– Annual Improvements 2010-2012 and 2011-2013 Cycles]
1 July 2014 30 June 2015
AASB 2014-1 Amendments to Australian Accounting Standards [Part
E – Financial Instruments]
1 January 2015 30 June 2016
IFRS 15 Revenue from Contracts with Customers 1 January 2017 30 June 2018
Accounting for Acquisitions of interests in Joint Operations
(Amendments to IFRS 11)
1 January 2016 30 June 2017
Clarification of Acceptable Methods of Depreciation and Amortisation
(Amendments to IAS 16 and IAS 38)
1 January 2016 30 June 2017
AASB 9 and related amendments IFRS 9 ‘Financial Instruments’ 1 January 2018 30 June 2019
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2014