1. HARPUNEET
Yujia ZHANG 41940415
Shenqiong SHAN 41843932
PERISHER LTD

2.  AASB 128  AASB 139
 Relates to the  Relates to the
investment in investment in financial
associates assets
 Applicable from 1st july
 Applicable from 1st july
2010 till date
2008 to 30th june 2010
ACQUISITION DISINVESTMENT
PERISHER LTD

3. •Defines an • Recognition and
associate measurement of
•Significant financial assets
AASB influence AASB • Financial assets
128 •Not a subsidary
or jv interest
139 four categories
• Financial
•More than 20% liabilities two
voting rights categories
PERISHER LTD

4. Perisher considered to have significant influence
under para 6, more than 20% voting right
Initial recognition under para 11 to be at cost
Carrying amount $3,00,000
PERISHER LTD

5. Para 22 relates to discontinuation of equity
method
Recognition in accordance with aasb 9 after
loss of significant influence
Retained interest measurement at fair value
PERISHER LTD

6.  Recognition based on difference between
◦ Fair value of retained interest and proceeds from
disposing part of interest and
◦ Carrying amount at the date equity method
discontinued
PERISHER LTD

7.  Fair value of retained interest and proceeds from
disposal
FAIR VALUE = $1,52,000
PROCEEDS = $1,68,000
TOTAL = $3,20,000
 Carrying amount when equity method discontinued
$3,00,000
 Resultant profit is $20,000
PERISHER LTD

8.  1ST JULY 2010
◦ AFS FINANCIAL ASSET $1,52,000
◦ CASH $1,68,000
 INVESTMENT IN ZALIS $3,00,000
 GAIN ON SALE $20,000
PERISHER LTD

9.  Initial recognition AASB 9- 3.1.1
 Classification AASB 9 – 4.1.1
 Measurement AASB 9 – 5.1.1
 FV 1ST JULY 2010 =$152000
 FV 30TH JUNE 2011 =$180500
 CHANGE IN VALUE =$28500
PERISHER LTD

10.  30TH JUNE 2011
AFS financial asset $28,500
AFS revaluation reserve $28,500
PERISHER LTD

11.  Profit and loss
◦ Gain on sale $20,000
◦ Gain on revaluation $28,500
 Balance sheet
◦ Cash $1,68,000
◦ Investment in zalis $(3,00,000)
◦ Financial asset $1,80,500
◦ Revaluation reserve $28,500
PERISHER LTD

12.  Significant influence lost
◦ Disinvestment in zalis ltd of 21% resulted in loss of
significant influence on zalis ltd.
◦ Zalis ltd was recognised as an associate under aasb
128
◦ Now it is recognised as a financial asset under
provisions of aasb 128 and recognition under aasb
9
PERISHER LTD

13.  Available for sale financial asset
◦ Since the investment does not have a fixed maturity
date and is not for short term investment purpose
therefore it is classified as available for sale.
PERISHER LTD