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ePaper created 2014-04-29, 17:58:02 | version 1.30.00
DEUTSCHEEUROSHOPANNUALREPORT2013/CONSOLIDATEDFINANCIALSTATEMENTS 156 In the current financial year the Group has carried out a change to its accounting policy which has had a significant impact on the information in the consolidated balance sheet as at 1 January 2012. In accordance with the amended IAS 1, the Group has therefore drawn up a third balance sheet as at 1 January 2012. Explanatory notes that go beyond the requirements of IAS 8 have not been included. IAS 16 PROPERTY, PLANT AND EQUIPMENT: CLASSIFICATION OF MAINTENANCE/SPARE PARTS Maintenance devices will be accounted for in the future as per IAS 16.8, unless they are, as expected, used for more than one period. Otherwise they represent inventories. IAS 32 FINANCIAL INSTRUMENTS: DISCLOSURE AND PRESENTATION Clarification of IAS 32 35a that the accounting for tax effects for distributions to equity investors and for costs related to an equity transaction must be in accordance with IAS 12. This involves the removal of a redundancy. IAS 34 INTERIM FINANCIAL REPORTING: TOTAL ASSETS OF THE SEGMENTS Clarification in IAS 34.16A (iv) with regard to the total assets of the segments in the interim financial reporting. These only need to be represented if the assets of the responsible business instance are available and differ substantially from the value in the accounts for the last financial year. IFRIC 20 ACCOUNTING OF STRIPPING COSTS IN MINING (SINCE 1 JANUARY 2013) The interpretation refers exclusively to stripping costs during the dismantling phase of an open cast mine. The wide- ranging accounting treatment of these in practice means that uniform guidelines are required. IFRIC 20 describes the capitalisation requirements for stripping costs and initial or subsequent measurement. Insofar as the benefits of strip- ping are considered inventories, the associated costs are to be capitalised as inventories (IAS 2). If the stripping results in improved access to the ores or minerals that can be extracted, the cost of extraction may be included as a non-cur- rent asset. The interpretation is to be applied to stripping costs incurred at the beginning of the earliest illustrated reporting period or afterwards. The amendments or new announcements had no or no material effects on the presentation of the net assets, financial position and results of operations of the Group. In 2013, the IASB issued standards and interpretations of and amendments to existing standards not yet compulsory for consolidated financial statements in this period. BALANCE SHEET Amendment/standard Date of publication Date of adoption under EU law Date of application EU IFRS 10 Consolidated financial statements 12 May 2011 11 December 2012 1 January 2014 IFRS 11 Joint Arrangements 12 May 2011 11 December 2012 1 January 2014 IFRS 12 Disclosures of Interests in Other Entities 12 May 2011 11 December 2012 1 January 2014 IAS 27 Separate Financial Statements 12 May 2011 11 December 2012 1 January 2014 IAS 28 Investments in associates 12 May 2011 11 December 2012 1 January 2014 Details of the recoverable amount for non-financial assets (amendments to IAS 36) 29 May 2013 20 December 2013 1 January 2014 Renovation of derivatives and continuation of accounting for hedging instruments (amendments to IAS 39) 27 June 2013 20 December 2013 1 January 2014 Transitional guidelines (amendments to IFRS 10, IFRS 11 and IFRS 12) 28 June 2012 4 April 2013 1 January 2014 Investment companies (amendments to IFRS 10, IFRS 12 and IAS 27) 31 October 2012 20 November 2013 1 January 2014 Offsetting of financial assets and liabilities (amendments to IAS 32) 16 December 2011 13 December 2012 1 January 2014