VALUE AIFRS Holdings 2008
Welcome to the 2008 edition in our VALUE AIFRS Holdings series.

The VALUE AIFRS Holdings 2008 publication is designed to help you prepare your financial statements in line with Australian equivalents to International Financial Reporting Standards (AIFRS). It illustrates the major elements of the financial statements and provides expert commentary on all important items and required disclosures. The fictitious circumstances of our example company, VALUE AIFRS Holdings Limited, have been chosen to illustrate the most common and significant accounting issues and associated disclosures under AIFRS.

Highlights in this latest edition include:

  • illustration of the new disclosures required under AASB 7 Financial Instruments: Disclosures


  • removal of certain disclosures following the release of AASB 2007-4 Amendments to Australian Accounting Standards arising from ED 151 and Other Amendments


  • a change in accounting policy to early adopt the new interpretation on accounting for customer loyalty schemes (AASB Interpretation 13)


  • changes to disclosures and commentary required as a result of the Corporations Legislation Amendment (Simpler Regulatory System) Act 2007


  • illustration of the impact of the revised AASB 101 Presentation of Financial Statements, which was issued in September 2007 (Appendix H)


  • illustration of how the segment note may change when AASB 8 Operating Segments is implemented (Appendix I)
This publication will be formally launched at the firm’s 2008 client Financial Reporting Update. The briefings will be held in various locations on the follow dates:
  • Brisbane - Monday 3 March

  • Perth - Wednesday 5 March

  • Adelaide - Thursday 6 March

  • Sydney - Tuesday 11 March

  • Melbourne - Wednesday 12 March

  • Newcastle 27 March.
For information on the Brisbane briefing visit www.pwc.com/au/frubris; for information on the briefings in all other locations visit www.pwc.com/au/fru.

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VALUE AIFRS Holdings 2008