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CONSOLIDATED FINANCIAL STATEMENTS
ventures, associates and special purpose
entities, in order to assess the nature, risk and
financial impacts associated with the interest
of the Entity. An entity can perform some or
all of the disclosures without having to fully
apply IFRS 12 or IFRS 10 and 11 and the IAS
27 and 28. The entity will apply the IFRS 12
in the year in which it becomes effective.
IFRS 13 (new)
“Fair value: measurement and
disclosure” (to apply for the financial years
beginning on or after 1 January 2013). This
standard is still subject to adoption by the
European Union. The IFRS 13 is intended to
improve consistency, by providing a precise
definition of fair value and provides the
only source of measurement and disclosure
requirements for fair value to be applied
crosswise for all IFRS. The entity will apply
the IFRS 13 in the year in which it becomes
effective.
IAS 27 (review 2011)
“Separate financial
statements” (to apply for the financial years
beginning on or after 1 January 2013). This
standard is still subject to adoption by the
European Union. IAS 27 was revised after the
issue of IFRS 10 and contains the accounting
and disclosure requirements for investments
in subsidiaries and joint ventures and
associates when an entity prepares separate
financial statements. The entity will apply
the IAS 27 in the year in which it becomes
effective.
IAS 28 (review 2011
) “Investments in associates
and joint ventures” (to apply for the financial
years beginning on or after 1 January 2013).
This standard is still subject to adoption by the
European Union. IAS 28 was revised after the
issue of IFRS 11 and prescribes the accounting
treatment of investments in associates and
establishes the requirements for applying the
equity method. The entity will apply the IAS 28
in the year in which it becomes effective.
IAS 19 (review 2011),
“Employee benefits”
(to apply for the financial years beginning on
or after 1 January 2013). This standard is still
subject to adoption by the European Union. This
review introduces significant differences in the
recognition and measurement of defined benefit
costs and benefits of employment termination as
well as disclosures to be made for all employee
benefits. Actuarial come to be recognized
immediately and only in “Other comprehensive
income” (not allowed the corridor method). The
financial cost of created funds is calculated on
the basis of the net unanchored liability. The
Benefits of termination of employment only
qualifies as such if there is no obligation to
provide future service employee.The entity will
apply the IAS 19 in the year in which it becomes
effective.