AASB 132 "Financial Instruments: Presentation" supports a substance over from approach in the accounting treatment for Insubstance Debt Defeasance (ISDD).
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Q3: Debt extinguishment occurs when a liability can
Q4: Under the old AASB 1014 the debt-holder(s)may
Q5: The term defeasance means the setting off
Q6: The existence of a right to set
Q7: AASB 132 only allows assets and liabilities
Q9: The changes under AASB 132 have removed
Q10: A futures contract is an example of
Q11: Legal defeasance is not addressed in AASB
Q12: A right of set-off is a debtor's
Q13: A right of set-off may still be
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