my revised nta calc arrives at 1.711, page-96

Hi Aras

AASB 110 - Events after balance date, is highly relevant to the impairmeent charge and the termination of the hedging contracts.

IMO the termination of the hedging contracts constitutes an amendment to the financials as at 31 December 2008.



An entity shall adjust the amounts recognised in its financial statements to reflect adjusting events after the reporting date.

9. The following are examples of adjusting events after the reporting date that require an entity to adjust the amounts recognised in its financial statements, or to recognise items that were not previously recognised:
(a) the settlement after the reporting date of a court case that confirms that the entity had a present obligation at the reporting date. The entity adjusts any previously recognised provision related to this court case in accordance with AASB 137 Provisions, Contingent Liabilities and Contingent Assets or recognises a new provision. The entity does not merely disclose a contingent liability because the settlement provides additional evidence that would be considered in accordance with paragraph 16 of AASB 137;

(b) the receipt of information after the reporting date indicating that an asset was impaired at the reporting date, or that the amount of a previously recognised impairment loss for that asset needs to be adjusted. For example:
(i) the bankruptcy of a customer that occurs after the reporting date usually confirms that a loss already existed at the reporting date on a trade receivable and that the entity needs to adjust the carrying amount of the trade receivable; and

(ii) the sale of inventories after the reporting date may give evidence about their net realisable value at the reporting date;



(c) the determination after the reporting date of the cost of assets purchased, or the proceeds from assets sold, before the reporting date;

(d) the determination after the reporting date of the amount of profit sharing or bonus payments, if the entity had a present legal or constructive obligation at the reporting date to make such payments as a result of events before that date (see AASB 119 Employee Benefits); and

(e) the discovery of fraud or errors that show that the financial statements are incorrect.