text: **35. Australian Equivalents to International Financial Reporting Standards (continued)**
  
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              [html]<thead><tr><td>35. Australian Equivalents to International Financial Reporting Standards ( continued )</td><td>Deferred tax assets and liabilities</td></tr></thead><tbody><tr><td>Selferred toas assets and failsfittles will generally be lased on the differences between the accounting and tax basis of assets and liabilities under the “ balance sheet ” approach which will result in the recognition of additional defo</td><td>Defined benefit superannuation surplus and deficits</td></tr><tr><td>Serfined benefit superariouslion plan surpluses and deficits will be recognised in the statement of froncial position and the changes in these values section prind will be recognised either directly in the statement of francial perfor</td><td>Restoration liabilities</td></tr><tr><td>Restraration failsfitties will be discounted to present value and capitalised as a component part of caphalised explaintion and development expenditue and property, plat and engagement. The supplicied cased to be amonities over ther</td><td>Functional currency</td></tr><tr><td>The majority of the controlled entities within the Sarios Source, that have periplex operations in framigr juritafictions will howe the IS didar as their facetoral currency. The first time application of A - FRS wills result in the net ast</td><td>Equity - based payments</td></tr><tr><td>Under A - DRS the cost of employee remuneration provided in the from of equity - based remuneration ( including shares and options ) will be measured based on the for value of those instruments and amortised to the profit and loss over the vest</td><td>Exploration and evaluation expenditure</td></tr><tr><td>There is no litterational frastrict life porticipation ( TRT ) within comprehensively deads with the accounting and reporting toures perforch is the estactive initiative, bit the absence of such as midsty - based STRL comparison, spent</td><td>Prescription of a competencive project on accounting for extractive inductive, AMSA Toperation for and fundarition of Meness Breassescribed was local to Stronder ( 06 ho focilitate the introduction of AISS in expect of the treatment of</td></tr><tr><tdrowspan="7">( a ) the rights to tenure of the area of interest are current ; and</td><td>( b ) at least one of the following conditions is also met :</td></tr><tr><td>( i ) the explanation and evaluation expenditures are expected to be recruped through successful development and explaintation of the area of interest, or alternatively, by its sale ; or</td></tr><tr><td>( ii ) exploration and evaluation activities in the area of inferest have not at the reporting date eached a stage which permits a reasonable assessment of the existence or otherwise of economically recoverable reserves, and active and si</td></tr><tr><td>The UASB decided that the effective date of 3 RRS 6 to be 1. January 2006 to allow affected componies more time to make the transition to DRS. Despite the lateness of the issuence of the Australian equivalent accounting standard AASB I, Santo</td></tr><tr><td>Santas is currently evaluating this accounting standard and its accounting policy for exploration and evaluation expenditure. At the date of this report, roo decision has been made as to how the Santas Group will account for exploratiou</td></tr><tr><td>Impairment</td></tr><tr><td>Techniq of non - cometic aure, for inspirament will be undertake on the ondolog structing of sustra presenting cash flows, salid cash generating units, filleness for experience them is an indication for a case generatrity unit is requiri</td></tr><tr><td>The AABB and LKBI twe significant snoping projects including a comprehensive “ Sotactive Snductive Smokpect that could affect the differences between current Australian SAAP and A - DRS as described above and could further irrepact the</td></tr></tbody>
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