Page 94 - Sundance Resources Ltd Annual Report 2013

92 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2013
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 begin-
ning on or after
Expected to be
initially applied
in the financial
year ending
AASB 9 ‘Financial Instruments’(December 2009), AASB 2009-11
‘Amendments to Australian Accounting Standards arising from AASB 9’
and AASB 2012-6 ‘Amendments to Australian Accounting Standards –
Mandatory Effective Date of AASB 8 and Transition Disclosure’.
1 January 2015 30 June 2016
AASB 9 ‘Financial Instruments’(December 2010), AASB 2010-7
‘Amendments to Australian Accounting Standards arising from AASB 9
(December 2010)’ and AASB 2012-6 ‘Amendments to Australian Accounting
Standards – Mandatory Effective Date of AASB 8 and Transition Disclosure’.
1 January 2015 30 June 2016
AASB 10 ‘Consolidated Financial Statements’ and AASB 2011-7
‘Amendments to Australian Accounting Standards arising from the
consolidation and Joint Arrangements standards’
1 January 2013 30 June 2014
AASB 11 ‘Joint Arrangements’ and AASB 2011-7 ‘Amendments to Australian
Accounting Standards arising from the consolidation and Joint Arrangements
standards’
1 January 2013 30 June 2014
AASB 12 ‘Disclosure of Interests in Other Entities’ and AASB 2011-
7 ‘Amendments to Australian Accounting Standards arising from the
consolidation and Joint Arrangements standards’
1 January 2013 30 June 2014
AASB 13 ‘Fair Value Measurement’ and related AASB 2011-8 ‘Amendments
to Australian Accounting Standards arising from AASB 13’
1 January 2013 30 June 2014
AASB 119 ‘Employee Benefits (2011)’ and AASB 2011-10 ‘Amendments to
Australian Accounting Standards arising from AASB 119 (2011)’
1 January 2013 30 June 2014
AASB 127 ‘Separate Financial Statements (2011)’ and AASB 2011-
7 ‘Amendments to Australian Accounting Standards arising from the
consolidation and Joint Arrangements standards’
1 January 2013 30 June 2014
AASB 128 ‘Investments in Associates and Joint Ventures (2011)’ and AASB
2011-7 ‘Amendments to Australian Accounting Standards arising from the
consolidation and Joint Arrangements standards’
1 January 2013 30 June 2014
AASB 2011-4 ‘Amendments to Australian Accounting Standards to
Remove Individual Key Management Personnel Disclosure Requirements’
1 July 2013 30 June 2014
AASB 2012-2 ‘Amendments to Australian Accounting Standards –
Disclosures – Offsetting Financial Assets and Financial Liabilities’
1 January 2013 30 June 2014
Note 2. SIGNIFICANT ACCOUNTING POLICIES (continued)
Critical accounting judgements and the key sources
of estimation uncertainty (continued)