Note 32. New and Amended Accounting Policies Not Yet Adopted by the Entity (continued) AASB 2025-2: Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments AASB 2025-2 amends AASB 7 and AASB 9 in relation to: – settling financial liabilities using an electronic payment system; – assessing contractual cash flow characteristics of financial assets with environmental, social and corporate governance (ESG) and similar features; and – disclosure requirements relating to investments in equity instruments designated at fair value through other comprehensive income, and adds disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs. The Group plans on adopting the amendment for the reporting period ending 30 June 2027. The amendment is not expected to have a material impact on the financial statements once adopted. AASB 2025-3: Amendments to Australian Accounting Standards – Annual Improvements Volume 11 AASB 2025-3 amends the following: – AASB 1 to improve consistency between AASB 1 and the requirements for hedge accounting in AASB 9, as well as to improve the understandability of AASB 1; – AASB 7 to replace a cross-reference and improve the consistency in the language used in AASB 7 with the language used in AASB 13; – AASB 9 to clarify how a lessee accounts for the derecognition of a lease liability when it is extinguished and address inconsistencies between AASB 9 and the requirements in AASB 15 in relation to the term “transaction price”; – AASB 10 in relation to determining de facto agents of an entity; and – AASB 107 to replace the term “cost method” with “at cost”, as the term is no longer defined in Australian Accounting Standards. The Group plans on adopting the amendment for the reporting period 30 June 2028. The amendment is not expected to have a material impact on the financial statements once adopted. AASB 2024-2: Amendments to the Classification and Measurement of Financial Instruments AASB 108.31(a)AASB 108.31(b)-(e)–AASB 2024-2 amends AASB 9: Financial Instruments and AASB 7: Financial Instruments: Disclosures to clarify how the contractual cash flows from financial assets should be assessed when determining their classification. The amendment also clarifies the derecognition requirements of financial liabilities that are settled through electronic payment systems. The Group plans on adopting the amendment for the reporting period ending 30 June 2027. The amendment is not expected to have a material impact on the financial statements once adopted. AASB 2022-9: Amendments to Australian Accounting Standards – Insurance Contracts in the Public Sector AASB 2024-3: Amendments to Australian Accounting Standards – Annual Improvements Volume 11 AASB 2024-3 amends: – AASB 1: First-time Adoption of Australian Accounting Standards to improve consistency between exceptions for retrospective application of hedging hedge accounting and the requirements for hedge accounting in AASB 9; – AASB 7: Financial Instruments: Disclosures to replace a deleted cross-reference with a reference to AASB 13: Fair Value Measurement; and improve consistency in the language used in AASB 7 with the language used in AASB 13; – AASB 9: Financial Instruments to clarify how a lessee accounts for the derecognition of a lease liability when it is extinguished; and addresses an inconsistency between AASB 9 and the requirements in AASB 15: Revenue from Contracts with Customers in relation to the term “transaction price”; – AASB 10: Consolidated Financial Statements in relation to determining de facto agents of an entity; and – AASB 107: Statement of Cash Flows to replace the term “cost method” with “at cost” as the term is no longer defined in Australian Accounting Standards. AASB 2024-3 applies to annual periods beginning on or after 1 January 2026. Earlier application is permitted. The Group plans on adopting the amendment for the reporting period ending 30 June 2027. The amendment is not expected to have a material impact on the financial statements No other new and amended accounting standards not yet adopted are expected to have a material effect on the entity and will be adopted as required The Group plans on adopting the amendment for the reporting period 30 June 2027. The amendment is not expected to have a material impact on the financial statements once adopted. 77 Melbana Energy Limited Annual Report 2026
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