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Understanding AASB 13: Key Issues and Implications for Your Organization

AASB 13, published in September 2011, brings significant changes to fair value measurement. Understanding new definitions, processes, concepts, and disclosures is crucial for compliance. This workshop at Glenelg Pier Hotel on Tue 11 Feb 2013 will provide valuable insights. Get your free copy of CPA Australia's comprehensive guide to valuation and depreciation!

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Understanding AASB 13: Key Issues and Implications for Your Organization

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  1. AASB13Not to be under estimated!

  2. AASB13 Fair Value Measurement • Published September 2011 • Mandatory for LG 1 July 2013 • Guidance issued via CPA Australia ‘s Guide to Valuation and Depreciation What have you done to prepare?

  3. Key Issues • New Definitions (FV and Asset Class) • New prescribed process • New Concepts • Recurrent v Non-Recurrent • Asset Hierarchy / Level of Input • Highest and Best Use • New Complex Disclosures

  4. However • There is a nuance which will trick many and will not be come apparent till you start to do your year end disclosures ?

  5. Its about the valuation…. Not the assets • All disclosures are to be based on Asset and Liability Class (as defined by AASB13) • Not per the existing specific accounting standards Need to slice and dice based on different valuation approaches and the asset hierarchy Implications for GL with changes as at 1 July 2013

  6. AASB13 Workshop • Glenelg Pier Hotel • Tue 11 Feb 2013 • Free….. But only 30 spaces available • Registration Form • At APV table • www.apv.net (services/workshops)

  7. CPA Australia guide to valuation and depreciation • 216 pages • 18 month extensive peer review process • Covers technical and non-technical aspects • Only guidance that covers AASB13 for public sector in detail • Visit APV booth to organise a free copy !

  8. The proof of the pudding is in the eating !

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