Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain…

Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (Text with EEA relevance)

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COMMISSION REGULATION (EC) No 1126/2008

of 3 November 2008

adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council

(Text with EEA relevance)

INTERNATIONAL ACCOUNTING STANDARDS

Table

Subparagraph

INTERNATIONAL ACCOUNTING STANDARD 1

Presentation of financial statements

PURPOSE OF FINANCIAL STATEMENTS

Table

COMPONENTS OF FINANCIAL STATEMENTS

Table

DEFINITIONS

Table

OVERALL CONSIDERATIONS

Fair presentation and compliance with IFRSs

Table

Going concern

Table

Accrual basis of accounting

Table

Consistency of presentation

Table

Materiality and aggregation

Table

Offsetting

Table

Comparative information

Table

STRUCTURE AND CONTENT

Introduction

Table

Identification of the financial statements

Current/non-current distinction

Information to be presented on the face of the balance sheet

Table

Information to be presented either on the face of the balance sheet or in the notes

Table

Income statement

Profit or loss for the period

Table

Information to be presented on the face of the income statement

Table

Information to be presented either on the face of the income statement or in the notes

Table

Statement of changes in equity

Disclosure of accounting policies

Table

Key sources of estimation uncertainty

WITHDRAWAL OF IAS 1 (REVISED 1997)

Table

INTERNATIONAL ACCOUNTING STANDARD 2

MEASUREMENT OF INVENTORIES

Cost of inventories of a service provider

Table

Cost of agricultural produce harvested from biological assets

Table

Techniques for the measurement of cost

RECOGNITION AS AN EXPENSE

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Table

INTERNATIONAL ACCOUNTING STANDARD 7

BENEFITS OF CASH FLOW INFORMATION

Table

DEFINITIONS

Table

Cash and cash equivalents

Table

PRESENTATION OF A CASH-FLOW STATEMENT

REPORTING CASH FLOWS FROM OPERATING ACTIVITIES

Table

REPORTING CASH FLOWS FROM INVESTING AND FINANCING ACTIVITIES

Table

REPORTING CASH FLOWS ON A NET BASIS

Table

FOREIGN CURRENCY CASH FLOWS

Table

INTEREST AND DIVIDENDS

Table

TAXES ON INCOME

Table

INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

Table

ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES AND OTHER BUSINESS UNITS

Table

NON-CASH TRANSACTIONS

Table

COMPONENTS OF CASH AND CASH EQUIVALENTS

INTERNATIONAL ACCOUNTING STANDARD 8

Accounting policies, changes in accounting estimates and errors

Selection and application of accounting policies

Table

Consistency of accounting policies

Table

Changes in accounting policies

Table

Applying changes in accounting policies

Table

Retrospective application

Table

Limitations on retrospective application

Table

Disclosure

Table

CHANGES IN ACCOUNTING ESTIMATES

Limitations on retrospective restatement

Table

Disclosure of prior period errors

Table

IMPRACTICABILITY IN RESPECT OF RETROSPECTIVE APPLICATION AND RETROSPECTIVE RESTATEMENT

Table

EFFECTIVE DATE

Table

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Table

INTERNATIONAL ACCOUNTING STANDARD 10

Events after the balance sheet date

RECOGNITION AND MEASUREMENT

Adjusting events after the balance sheet date

Table

Non-adjusting events after the balance sheet date

Date of authorisation for issue

Table

Updating disclosure about conditions at the balance sheet date

Table

Non-adjusting events after the balance sheet date

Table

EFFECTIVE DATE

Table

WITHDRAWAL OF IAS 10 (REVISED 1999)

Table

INTERNATIONAL ACCOUNTING STANDARD 11

Construction contracts

COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS

RECOGNITION OF CONTRACT REVENUE AND EXPENSES

Table

RECOGNITION OF EXPECTED LOSSES

INTERNATIONAL ACCOUNTING STANDARD 12

RECOGNITION OF CURRENT TAX LIABILITIES AND CURRENT TAX ASSETS

Table

RECOGNITION OF DEFERRED TAX LIABILITIES AND DEFERRED TAX ASSETS

TAXABLE TEMPORARY DIFFERENCES

Table

Business combinations

Table

Assets carried at fair value

Table

Goodwill

Table

Initial recognition of an asset or liability

Table

Deductible temporary differences

Table

Initial recognition of an asset or liability

Table

Unused tax losses and unused tax credits

Table

Reassessment of unrecognised deferred tax assets

Table

Investments in subsidiaries, branches and associates and interests in joint ventures

Table

MEASUREMENT

Table

RECOGNITION OF CURRENT AND DEFERRED TAX

Table

Income statement

Table

Items credited or charged directly to equity

Table

Deferred tax arising from a business combination

Table

Current and deferred tax arising from share-based payment transactions

Table

PRESENTATION

Tax assets and tax liabilities

Tax expense (income) related to profit or loss from ordinary activities

Table

Exchange differences on deferred foreign tax liabilities or assets

INTERNATIONAL ACCOUNTING STANDARD 16

Property, plant and equipment

MEASUREMENT AT RECOGNITION

MEASUREMENT AFTER RECOGNITION

Depreciable amount and depreciation period

Compensation for impairment

TRANSITIONAL PROVISIONS

Table

EFFECTIVE DATE

Table

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Table

INTERNATIONAL ACCOUNTING STANDARD 17

CLASSIFICATION OF LEASES

Table

LEASES IN THE FINANCIAL STATEMENTS OF LESSEES

Finance leases

Initial recognition

Table

Subsequent measurement

Table

Operating leases

Table

LEASES IN THE FINANCIAL STATEMENTS OF LESSORS

Finance leases

Initial recognition

Table

Subsequent measurement

Table

Operating leases

Table

SALE AND LEASEBACK TRANSACTIONS

Table

TRANSITIONAL PROVISIONS

Table

EFFECTIVE DATE

Table

WITHDRAWAL OF IAS 17 (REVISED 1997)

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 18

MEASUREMENT OF REVENUE

Table

IDENTIFICATION OF THE TRANSACTION

Table

SALE OF GOODS

Table

RENDERING OF SERVICES

Table

INTEREST, ROYALTIES AND DIVIDENDS

INTERNATIONAL ACCOUNTING STANDARD 19

SHORT-TERM EMPLOYEE BENEFITS

Table

Recognition and measurement

All short-term employee benefits

Table

Short-term compensated absences

Table

Profit-sharing and bonus plans

Table

Disclosure

Table

POST-EMPLOYMENT BENEFITS: DISTINCTION BETWEEN DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS

Table

Multi-employer plans

Table

Defined benefit plans that share risks between various entities under common control

POST-EMPLOYMENT BENEFITS: DEFINED CONTRIBUTION PLANS

Table

Recognition and measurement

Table

Disclosure

Table

POST-EMPLOYMENT BENEFITS: DEFINED BENEFIT PLANS

Table

Recognition and measurement

Table

Accounting for the constructive obligation

Recognition and measurement: present value of defined benefit obligations and current service cost

Table

Actuarial valuation method

Table

Attributing benefit to periods of service

Table

Actuarial assumptions

Table

Actuarial assumptions: discount rate

Table

Actuarial assumptions: salaries, benefits and medical costs

Table

Actuarial gains and losses

Table

Past service cost

Table

Recognition and measurement: plan assets

Fair value of plan assets

Table

Reimbursements

Table

Return on plan assets

Table

Business combinations

Table

Curtailments and settlements

Current/non-current distinction

Table

Financial components of post-employment benefit costs

Table

Disclosure

Table

OTHER LONG-TERM EMPLOYEE BENEFITS

Table

Recognition and measurement

TRANSITIONAL PROVISIONS

INTERNATIONAL ACCOUNTING STANDARD 20

Accounting for government grants and disclosure of government assistance

Non-monetary government grants

Table

Presentation of grants related to assets

Table

Presentation of grants related to income

Table

Repayment of government grants

Table

GOVERNMENT ASSISTANCE

Table

DISCLOSURE

Table

TRANSITIONAL PROVISIONS

INTERNATIONAL ACCOUNTING STANDARD 21

The effects of changes in foreign exchange rates

Elaboration on the definitions

Functional currency

Table

Net investment in a foreign operation

Table

Monetary items

Table

SUMMARY OF THE APPROACH REQUIRED BY THIS STANDARD

Table

REPORTING FOREIGN CURRENCY TRANSACTIONS IN THE FUNCTIONAL CURRENCY

Initial recognition

Table

Reporting at subsequent balance sheet dates

Table

Recognition of exchange differences

Table

Change in functional currency

Table

USE OF A PRESENTATION CURRENCY OTHER THAN THE FUNCTIONAL CURRENCY

Translation to the presentation currency

Table

Translation of a foreign operation

Table

Disposal of a foreign operation

Table

TAX EFFECTS OF ALL EXCHANGE DIFFERENCES

Table

DISCLOSURE

Table

EFFECTIVE DATE AND TRANSITION

Table

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 23

BORROWING COSTS — BENCHMARK TREATMENT

BORROWING COSTS — ALLOWED ALTERNATIVE TREATMENT

Recognition

Table

Borrowing costs eligible for capitalisation

Table

Excess of the carrying amount of the qualifying asset over recoverable amount

Table

Commencement of capitalisation

Table

Suspension of capitalisation

Table

Cessation of capitalisation

Table

DISCLOSURE

Table

TRANSITIONAL PROVISIONS

Table

EFFECTIVE DATE

Table

INTERNATIONAL ACCOUNTING STANDARD 24

Related party disclosures

PURPOSE OF RELATED PARTY DISCLOSURES

WITHDRAWAL OF IAS 24 (REFORMATTED 1994)

Table

INTERNATIONAL ACCOUNTING STANDARD 26

Accounting and reporting by retirement benefit plans

DEFINED CONTRIBUTION PLANS

Table

DEFINED BENEFIT PLANS

Table

Actuarial present value of promised retirement benefits

Table

Frequency of actuarial valuations

Table

Financial statement content

Table

ALL PLANS

Valuation of plan assets

INTERNATIONAL ACCOUNTING STANDARD 27

Consolidated and separate financial statements

PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS

Table

SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS

Table

CONSOLIDATION PROCEDURES

Table

ACCOUNTING FOR INVESTMENTS IN SUBSIDIARIES, JOINTLY CONTROLLED ENTITIES AND ASSOCIATES IN SEPARATE FINANCIAL STATEMENTS

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 28

Investments in associates

Significant influence

Table

Equity method

Table

APPLICATION OF THE EQUITY METHOD

Table

Impairment losses

Table

SEPARATE FINANCIAL STATEMENTS

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Table

INTERNATIONAL ACCOUNTING STANDARD 29

Financial reporting in hyperinflationary economies

SCOPE

Table

THE RESTATEMENT OF FINANCIAL STATEMENTS

Table

Historical cost financial statements

Gain or loss on net monetary position

Table

Current cost financial statements

Gain or loss on net monetary position

Corresponding figures

Table

Consolidated financial statements

Table

Selection and use of the general price index

Table

ECONOMIES CEASING TO BE HYPERINFLATIONARY

INTERNATIONAL ACCOUNTING STANDARD 31

Interests in joint ventures

Forms of joint venture

Table

Joint control

Table

Contractual arrangement

Table

JOINTLY CONTROLLED OPERATIONS

Table

JOINTLY CONTROLLED ASSETS

Table

JOINTLY CONTROLLED ENTITIES

Table

Financial statements of a venturer

Proportionate consolidation

Table

Equity method

Table

Exceptions to proportionate consolidation and equity method

Table

Separate financial statements of a venturer

Table

TRANSACTIONS BETWEEN A VENTURER AND A JOINT VENTURE

Table

REPORTING INTERESTS IN JOINT VENTURES IN THE FINANCIAL STATEMENTS OF AN INVESTOR

Table

OPERATORS OF JOINT VENTURES

WITHDRAWAL OF IAS 31 (REVISED 2000)

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 32

Financial instruments: presentation

DEFINITIONS (SEE ALSO PARAGRAPHS AG3-AG23)

Table

PRESENTATION

Liabilities and equity (see also paragraphs AG25-AG29)

Table

No contractual obligation to deliver cash or another financial asset (paragraph 16(a))

Table

Settlement in the entity's own equity instruments (paragraph 16(b))

Table

Contingent settlement provisions

Table

Settlement options

Table

Compound financial instruments (see also paragraphs AG30-AG35 and Illustrative Examples 9-12)

Table

Treasury shares (see also paragraph AG36)

Table

Interest, dividends, losses and gains (see also paragraph AG37)

Table

Offsetting a financial asset and a financial liability (see also paragraphs AG38 and AG39)

WITHDRAWAL OF OTHER PRONOUNCEMENTS

IAS 32 Financial instruments: presentation

Subparagraph

Table

DEFINITIONS (PARAGRAPHS 11-14)

Financial assets and financial liabilities

Table

Equity instruments

Table

Derivative financial instruments

Table

Contracts to buy or sell non-financial items (paragraphs 8-10)

Table

PRESENTATION

Liabilities and equity (paragraphs 15-27)

No contractual obligation to deliver cash or another financial asset (paragraphs 17-20)

Table

Settlement in the entity's own equity instruments (paragraphs 21-24)

Table

Contingent settlement provisions (paragraph 25)

Table

Treatment in consolidated financial statements

Table

Compound financial instruments (paragraphs 28-32)

Table

Treasury shares (paragraphs 33 and 34)

Table

Interest, dividends, losses and gains (paragraphs 35-41)

Table

Offsetting a financial asset and a financial liability (paragraphs 42-50)

Table

DISCLOSURE

Financial assets and financial liabilities at fair value through profit or loss (paragraph 94(f))

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 33

Basic earnings per share

Table

Earnings

Table

Diluted earnings per share

Table

Earnings

Table

Dilutive potential ordinary shares

Table

Options, warrants and their equivalents

Table

Convertible instruments

Table

Contingently issuable shares

Table

Contracts that may be settled in ordinary shares or cash

RETROSPECTIVE ADJUSTMENTS

WITHDRAWAL OF OTHER PRONOUNCEMENTS

PROFIT OR LOSS ATTRIBUTABLE TO THE PARENT ENTITY

AVERAGE MARKET PRICE OF ORDINARY SHARES

Table

OPTIONS, WARRANTS AND THEIR EQUIVALENTS

Table

WRITTEN PUT OPTIONS

Table

INSTRUMENTS OF SUBSIDIARIES, JOINT VENTURES OR ASSOCIATES

Table

PARTICIPATING EQUITY INSTRUMENTS AND TWO-CLASS ORDINARY SHARES

INTERNATIONAL ACCOUNTING STANDARD 34

Interim financial reporting

CONTENT OF AN INTERIM FINANCIAL REPORT

Table

Minimum components of an interim financial report

Table

Form and content of interim financial statements

Table

Selected explanatory notes

Table

Disclosure of compliance with IFRSs

Table

Periods for which interim financial statements are required to be presented

Table

Materiality

Table

DISCLOSURE IN ANNUAL FINANCIAL STATEMENTS

Table

RECOGNITION AND MEASUREMENT

Same accounting policies as annual

Table

Revenues received seasonally, cyclically, or occasionally

Table

Costs incurred unevenly during the financial year

Table

Applying the recognition and measurement principles

Table

Use of estimates

Table

RESTATEMENT OF PREVIOUSLY REPORTED INTERIM PERIODS

INTERNATIONAL ACCOUNTING STANDARD 36

IDENTIFYING AN ASSET THAT MAY BE IMPAIRED

Table

MEASURING RECOVERABLE AMOUNT

Table

Measuring the recoverable amount of an intangible asset with an indefinite useful life

Table

Fair value less costs to sell

Table

Value in use

Table

Basis for estimates of future cash flows

Table

Composition of estimates of future cash flows

Table

Foreign currency future cash flows

Table

Discount rate

Table

RECOGNISING AND MEASURING AN IMPAIRMENT LOSS

Table

CASH-GENERATING UNITS AND GOODWILL

Table

Identifying the cash-generating unit to which an asset belongs

Table

Recoverable amount and carrying amount of a cash-generating unit

Table

Goodwill

Allocating goodwill to cash-generating units

Table

Testing cash-generating units with goodwill for impairment

Table

Minority interest

Table

Timing of impairment tests

Table

Corporate assets

Table

Impairment loss for a cash-generating unit

Table

REVERSING AN IMPAIRMENT LOSS

Table

Reversing an impairment loss for an individual asset

Table

Reversing an impairment loss for a cash-generating unit

Table

Reversing an impairment loss for goodwill

Table

DISCLOSURE

Table

Estimates used to measure recoverable amounts of cash-generating units containing goodwill or intangible assets with indefinite useful lives

Table

Transitional provisions and effective date

Table

Withdrawal of IAS 36 (issued 1998)

Table

Note

Appendix A

USING PRESENT VALUE TECHNIQUES TO MEASURE VALUE IN USE

Subparagraph

The components of a present value measurement

Table

General principles

Table

Traditional and expected cash flow approaches to present value

Traditional approach

Table

Expected cash flow approach

Table

Discount rate

Table

INTERNATIONAL ACCOUNTING STANDARD 37

Provisions, contingent liabilities and contingent assets

Provisions and other liabilities

Table

Relationship between provisions and contingent liabilities

Probable outflow of resources embodying economic benefits

Table

Reliable estimate of the obligation

Table

Contingent liabilities

Risks and uncertainties

Expected disposal of assets

Table

REIMBURSEMENTS

Table

CHANGES IN PROVISIONS

Table

USE OF PROVISIONS

Table

APPLICATION OF THE RECOGNITION AND MEASUREMENT RULES

Future operating losses

TRANSITIONAL PROVISIONS

INTERNATIONAL ACCOUNTING STANDARD 38

Future economic benefits

Table

RECOGNITION AND MEASUREMENT

Table

Separate acquisition

Table

Acquisition as part of a business combination

Table

Measuring the fair value of an intangible asset acquired in a business combination

Table

Subsequent expenditure on an acquired in-process research and development project

Table

Acquisition by way of a government grant

Table

Exchanges of assets

Table

Internally generated goodwill

Table

Internally generated intangible assets

Cost of an internally generated intangible asset

Table

RECOGNITION OF AN EXPENSE

Table

Past expenses not to be recognised as an asset

Table

MEASUREMENT AFTER RECOGNITION

INTANGIBLE ASSETS WITH FINITE USEFUL LIVES

Amortisation period and amortisation method

Table

Residual value

Table

Review of amortisation period and amortisation method

Table

INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES

Table

Review of useful life assessment

Table

RECOVERABILITY OF THE CARRYING AMOUNT — IMPAIRMENT LOSSES

Table

RETIREMENTS AND DISPOSALS

Intangible assets measured after recognition using the revaluation model

Table

Research and development expenditure

Table

Other information

Table

TRANSITIONAL PROVISIONS AND EFFECTIVE DATE

Table

Exchanges of similar assets

Table

Early application

Table

WITHDRAWAL OF IAS 38 (ISSUED 1998)

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 39

Financial instruments: recognition and measurement

Definition of a derivative

Definitions of four categories of financial instruments

Definition of a financial guarantee contract

Subparagraph

Definitions relating to recognition and measurement

Subparagraph

Definitions relating to hedge accounting

Subparagraph

EMBEDDED DERIVATIVES

Table

RECOGNITION AND DERECOGNITION

Initial recognition

Table

Derecognition of a financial asset

Table

Transfers that qualify for derecognition (see paragraph 20(a) and (c)(i))

Table

Transfers that do not qualify for derecognition (see paragraph 20(b))

Table

Continuing involvement in transferred assets (see paragraph 20(c)(ii))

Table

All transfers

Table

Regular way purchase or sale of a financial asset

Table

Derecognition of a financial liability

Table

MEASUREMENT

Initial measurement of financial assets and financial liabilities

Table

Subsequent measurement of financial assets

Table

Subsequent measurement of financial liabilities

Table

Fair value measurement considerations

Impairment and uncollectability of financial assets

Table

Financial assets carried at amortised cost

Table

Financial assets carried at cost

Table

Available-for-sale financial assets

Qualifying instruments

Table

Designation of hedging instruments

Designation of financial items as hedged items

Table

Designation of non-financial items as hedged items

Table

Designation of groups of items as hedged items

Hedges of a net investment

Table

EFFECTIVE DATE AND TRANSITION

Table

WITHDRAWAL OF OTHER PRONOUNCEMENTS

SCOPE (paragraphs 2-7)

Table

DEFINITIONS (paragraphs 8 and 9)

Designation as at fair value through profit or loss

Table

Paragraph 9(b)(i): Designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise

Table

Paragraph 9(b)(ii): A group of financial assets, financial liabilities or both is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy

Table

Effective interest rate

Financial assets and financial liabilities held for trading

Table

Held-to-maturity investments

Table

Loans and receivables

Table

EMBEDDED DERIVATIVES (paragraphs 10-13)

Table

Instruments containing embedded derivatives

Table

RECOGNITION AND DERECOGNITION (paragraphs 14-42)

Initial recognition (paragraph 14)

Table

Derecognition of a financial asset (paragraphs 15-37)

Table

Arrangements under which an entity retains the contractual rights to receive the cash flows of a financial asset, but assumes a contractual obligation to pay the cash flows to one or more recipients (paragraph 18(b))

Table

Evaluation of the transfer of risks and rewards of ownership (paragraph 20)

Table

Evaluation of the transfer of control

Table

Transfers that qualify for derecognition

Table

Transfers that do not qualify for derecognition

Table

Continuing involvement in transferred assets

Table

All assets

(a)

Assets measured at amortised cost

(b)

Assets measured at fair value

Regular way purchase or sale of a financial asset (paragraph 38)

Table

Derecognition of a financial liability (paragraphs 39-42)

Table

MEASUREMENT (paragraphs 43-70)

Initial measurement of financial assets and financial liabilities (paragraph 43)

Table

Subsequent measurement of financial assets (paragraphs 45 and 46)

Table

Fair value measurement considerations (paragraphs 48-49)

Table

Active market: quoted price

Table

No active market: valuation technique

Table

No active market: equity instruments

Table

Inputs to valuation techniques

Table

Gains and losses (paragraphs 55-57)

Table

Impairment and uncollectability of financial assets (paragraphs 58-70)

Financial assets carried at amortised cost (paragraphs 63-65)

Table

Interest income after impairment recognition

Table

HEDGING (paragraphs 71-102)

Hedging instruments (paragraphs 72-77)

Qualifying instruments (paragraphs 72 and 73)

Table

Hedged items (paragraphs 78-84)

Qualifying items (paragraphs 78-80)

Table

Designation of financial items as hedged items (paragraphs 81 and 81A)

Table

Designation of non-financial items as hedged items (paragraph 82)

Table

Designation of groups of items as hedged items (paragraphs 83 and 84)

Table

Hedge accounting (paragraphs 85-102)

Table

Assessing hedge effectiveness

Table

Fair value hedge accounting for a portfolio hedge of interest rate risk

Table

TRANSITION (paragraphs 103-108b)

Table

Note

INTERNATIONAL ACCOUNTING STANDARD 40

MEASUREMENT AT RECOGNITION

Table

MEASUREMENT AFTER RECOGNITION

Inability to determine fair value reliably

Fair value model and cost model

TRANSITIONAL PROVISIONS

WITHDRAWAL OF IAS 40 (2000)

Table

INTERNATIONAL ACCOUNTING STANDARD 41

Agriculture-related definitions

Table

General definitions

Table

RECOGNITION AND MEASUREMENT

Table

Gains and losses

Table

Inability to measure fair value reliably

Additional disclosures for biological assets where fair value cannot be measured reliably

Table

Government grants

Table

EFFECTIVE DATE AND TRANSITION

Table

INTERNATIONAL FINANCIAL REPORTING STANDARD 1

First-time adoption of international financial reporting standards

RECOGNITION AND MEASUREMENT

Opening IFRS balance sheet

Table

Accounting policies

Table

Exemptions from other IFRSs

Table

Business combinations

Table

Fair value or revaluation as deemed cost

Table

Employee benefits

Table

Cumulative translation differences

Table

Compound financial instruments

Table

Assets and liabilities of subsidiaries, associates and joint ventures

Table

Designation of previously recognised financial instruments

Table

Share-based payment transactions

Table

Insurance contracts

Table

Changes in existing decommissioning, restoration and similar liabilities included in the cost of property, plant and equipment

Table

Leases

Table

Fair value measurement of financial assets or financial liabilities

Table

Exceptions to retrospective application of other IFRSs

Table

Derecognition of financial assets and financial liabilities

Assets classified as held for sale and discontinued operations

Table

PRESENTATION AND DISCLOSURE

Table

Comparative information

Table

Exemption from the requirement to restate comparative information for IAS 39 and IFRS 4

Table

Exemption from the requirement to present comparative information for IFRS 6

Table

Exemption from the requirement to provide comparative disclosures for IFRS 7

Table

Non-IFRS comparative information and historical summaries

Table

Explanation of transition to IFRSs

Table

Reconciliations

Table

Designation of financial assets or financial liabilities

Table

Use of fair value as deemed cost

Table

Interim financial reports

Business combinations

INTERNATIONAL FINANCIAL REPORTING STANDARD 2

EQUITY-SETTLED SHARE-BASED PAYMENT TRANSACTIONS

Overview

Table

Transactions in which services are received

Table

Transactions measured by reference to the fair value of the equity instruments granted

Determining the fair value of equity instruments granted

Table

Treatment of vesting conditions

Table

Treatment of a reload feature

Table

After vesting date

Table

If the fair value of the equity instruments cannot be estimated reliably

Table

Modifications to the terms and conditions on which equity instruments were granted, including cancellations and settlements

Table

CASH-SETTLED SHARE-BASED PAYMENT TRANSACTIONS

Table

SHARE-BASED PAYMENT TRANSACTIONS WITH CASH ALTERNATIVES

Table

Share-based payment transactions in which the terms of the arrangement provide the counterparty with a choice of settlement

Table

Share-based payment transactions in which the terms of the arrangement provide the entity with a choice of settlement

Table

DISCLOSURES

Table

TRANSITIONAL PROVISIONS

Estimating the fair value of equity instruments granted

Table

Share options

Table

Inputs to option pricing models

Table

Expected early exercise

Table

Expected volatility

Table

Newly listed entities

Risk-free interest rate

Table

Capital structure effects

Table

Modifications to equity-settled share-based payment arrangements

Table

INTERNATIONAL FINANCIAL REPORTING STANDARD 3

Business combinations

Identifying a business combination

Table

Business combinations involving entities under common control

Table

METHOD OF ACCOUNTING

Table

APPLICATION OF THE PURCHASE METHOD

Table

Identifying the acquirer

Table

Cost of a business combination

Table

Adjustments to the cost of a business combination contingent on future events

Table

Allocating the cost of a business combination to the assets acquired and liabilities and contingent liabilities assumed

Table

Acquiree's identifiable assets and liabilities

Table

Acquiree's intangible assets

Table

Acquiree's contingent liabilities

Table

Goodwill

Table

Excess of acquirer's interest in the net fair value of acquiree's identifiable assets, liabilities and contingent liabilities over cost

Table

Business combination achieved in stages

Table

Initial accounting determined provisionally

Table

Adjustments after the initial accounting is complete

Table

Recognition of deferred tax assets after the initial accounting is complete

Table

DISCLOSURE

Table

TRANSITIONAL PROVISIONS AND EFFECTIVE DATE

Table

Previously recognised goodwill

Table

Previously recognised negative goodwill

Table

Previously recognised intangible assets

Table

Equity accounted investments

Table

Limited retrospective application

Table

WITHDRAWAL OF OTHER PRONOUNCEMENTS

Application supplement

Subparagraph

Reverse acquisitions

Table

Cost of the business combination

Table

Preparation and presentation of consolidated financial statements

Allocating the cost of a business combination

Table

INTERNATIONAL FINANCIAL REPORTING STANDARD 4

Unbundling of deposit components

Table

RECOGNITION AND MEASUREMENT

Temporary exemption from some other IFRSs

Table

Liability adequacy test

Table

Impairment of reinsurance assets

Table

Changes in accounting policies

Table

Current market interest rates

Table

Continuation of existing practices

Table

Prudence

Table

Future investment margins

Table

Shadow accounting

Table

Insurance contracts acquired in a business combination or portfolio transfer

Table

Discretionary participation features

Discretionary participation features in insurance contracts

Table

Discretionary participation features in financial instruments

Table

DISCLOSURE

Explanation of recognised amounts

Table

Nature and extent of risks arising from insurance contracts

Table

EFFECTIVE DATE AND TRANSITION

Table

Disclosure

Table

Redesignation of financial assets

Definition of an insurance contract

Uncertain future event

Table

Payments in kind

Table

Distinction between insurance risk and other risks

Table

Examples of insurance contracts

Table

Significant insurance risk

Table

Changes in the level of insurance risk

Table

Note

INTERNATIONAL FINANCIAL REPORTING STANDARD 5

Non-current assets held for sale and discontinued operations

CLASSIFICATION OF NON-CURRENT ASSETS (OR DISPOSAL GROUPS) AS HELD FOR SALE

Table

Non-current assets that are to be abandoned

Table

MEASUREMENT OF NON-CURRENT ASSETS (OR DISPOSAL GROUPS) CLASSIFIED AS HELD FOR SALE

Measurement of a non-current asset (or disposal group)

Table

Recognition of impairment losses and reversals

Table

Changes to a plan of sale

Table

PRESENTATION AND DISCLOSURE

Table

Presenting discontinued operations

Table

Gains or losses relating to continuing operations

Table

Presentation of a non-current asset or disposal group classified as held for sale

Table

Additional disclosures

Table

TRANSITIONAL PROVISIONS

Application supplement

Subparagraph

EXTENSION OF THE PERIOD REQUIRED TO COMPLETE A SALE

Table

INTERNATIONAL FINANCIAL REPORTING STANDARD 6

Exploration for and evaluation of mineral resources

RECOGNITION OF EXPLORATION AND EVALUATION ASSETS

Temporary exemption from IAS 8 paragraphs 11 and 12

Table

MEASUREMENT OF EXPLORATION AND EVALUATION ASSETS

Measurement at recognition

Table

Elements of cost of exploration and evaluation assets

Table

Measurement after recognition

Table

Changes in accounting policies

Table

PRESENTATION

Classification of exploration and evaluation assets

Table

Reclassification of exploration and evaluation assets

Table

IMPAIRMENT

Recognition and measurement

Table

Specifying the level at which exploration and evaluation assets are assessed for impairment

TRANSITIONAL PROVISIONS

INTERNATIONAL FINANCIAL REPORTING STANDARD 7

Financial instruments: disclosures

CLASSES OF FINANCIAL INSTRUMENTS AND LEVEL OF DISCLOSURE

Table

SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR FINANCIAL POSITION AND PERFORMANCE

Table

Balance sheet

Categories of financial assets and financial liabilities

Table

Financial assets or financial liabilities at fair value through profit or loss

Allowance account for credit losses

Table

Compound financial instruments with multiple embedded derivatives

Table

Defaults and breaches

Table

Income statement and equity

Items of income, expense, gains or losses

NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS

Table

Qualitative disclosures

Table

Quantitative disclosures

Table

Credit risk

Table

Financial assets that are either past due or impaired

Table

Collateral and other credit enhancements obtained

Other market risk disclosures

Table

EFFECTIVE DATE AND TRANSITION

CLASSES OF FINANCIAL INSTRUMENTS AND LEVEL OF DISCLOSURE (PARAGRAPH 6)

Table

SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR FINANCIAL POSITION AND PERFORMANCE

Financial liabilities at fair value through profit or loss (paragraphs 10 and 11)

Table

Other disclosure — accounting policies (paragraph 21)

Table

NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (PARAGRAPHS 31-42)

Table

Quantitative disclosures (paragraph 34)

Table

Maximum credit risk exposure (paragraph 36(a))

Table

Contractual maturity analysis (paragraph 39(a))

Table

Market risk — sensitivity analysis (paragraphs 40 and 41)

INTERNATIONAL FINANCIAL REPORTING STANDARD 8

Quantitative thresholds

Information about profit or loss, assets and liabilities

Restatement of previously reported information

Table

ENTITY-WIDE DISCLOSURES

Table

Information about products and services

Table

Information about geographical areas

Table

Information about major customers

Table

TRANSITION AND EFFECTIVE DATE

IFRIC INTERPRETATION 1

Changes in existing decommissioning, restoration and similar liabilities

IFRIC INTERPRETATION 2

Members' shares in cooperative entities and similar instruments

Examples of application of the consensus

Subparagraph

UNCONDITIONAL RIGHT TO REFUSE REDEMPTION (paragraph 7)

PROHIBITIONS AGAINST REDEMPTION (paragraphs 8 and 9)

Before the governing charter is amended

Table

After the governing charter is amended

IFRIC INTERPRETATION 4

Determining whether an arrangement contains a lease

Determining whether an arrangement is, or contains, a lease

Table

Fulfilment of the arrangement is dependent on the use of a specific asset

Table

Arrangement conveys a right to use the asset

Table

Assessing or reassessing whether an arrangement is, or contains, a lease

Table

Separating payments for the lease from other payments

IFRIC INTERPRETATION 5

Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds

Accounting for an interest in a fund

Table

Accounting for obligations to make additional contributions

IFRIC INTERPRETATION 6

Liabilities arising from participating in a specific market — waste electrical and electronic equipment

IFRIC INTERPRETATION 7

Applying the restatement approach under IAS 29 Financial reporting in hyperinflationary economies

IFRIC INTERPRETATION 8

IFRIC INTERPRETATION 9

Reassessment of embedded derivatives

EFFECTIVE DATE AND TRANSITION

Table

IFRIC INTERPRETATION 10

Interim financial reporting and impairment

EFFECTIVE DATE AND TRANSITION

Table

IFRIC INTERPRETATION 11

IFRS 2 — Group and treasury share transactions

Share-based payment arrangements involving an entity's own equity instruments (paragraph 1)

Table

Share-based payment arrangements involving equity instruments of the parent

A parent grants rights to its equity instruments to the employees of its subsidiary (paragraph 3(a))

Table

A subsidiary grants rights to equity instruments of its parent to its employees (paragraph 3(b))

Introduction of the euro

SIC INTERPRETATION 10

Government assistance — no specific relation to operating activities

SIC INTERPRETATION 12

Consolidation — special purpose entities

SIC INTERPRETATION 13

Jointly controlled entities — non-monetary contributions by venturers

SIC INTERPRETATION 15

Operating leases — incentives

SIC INTERPRETATION 21

Income taxes — recovery of revalued non-depreciable assets

SIC INTERPRETATION 25

Income taxes — changes in the tax status of an entity or its shareholders

SIC INTERPRETATION 27

Evaluating the substance of transactions involving the legal form of a lease

SIC INTERPRETATION 29

Disclosure — service concession arrangements

SIC INTERPRETATION 31

Revenue — barter transactions involving advertising services

SIC INTERPRETATION 32

Intangible assets — website costs