Consolidated Financial Statements
36. IFRS STANDARDS ALREADY ISSUED OR REVIEWED AND
FOR FUTURE APPLICATION
1.
The impacts of the adoption of standards and
interpretations that became effective on 1 Jan-
uary 2015, are as follows:
Standards:
a) Annual Improvements 2011 - 2013. The 2011-
2013 annual improvements affects: IFRS 1,
IFRS 3, IFRS 13 and IAS 40. t. The adoption of
this improvement had no impact in the finan-
cial statements.
Interpretations:
a) IFRIC 21 (new), ‘Levies’. Interpretation to IAS
37 and the recognition of a liability, clarifying
that the obligation event that gives rise to a li-
ability to pay a levy is the activity described in
the relevant legislation that triggers the pay-
ment. The adoption of this amendment had no
impact in the financial statements.
2.
The following standards and amendments to
existing standards have been published and
are mandatory for the accounting periods be-
ginning on or after 1 February 2015, but that
the Entity has not early adopted:
Standards:
a) Annual Improvements 2010 - 2012, (generally
effective for annual periods beginning on or af-
ter 1 February 2015). The 2010-2012 annual im-
provements affects: IFRS 2, IFRS 3, IFRS 8, IFRS
13, IAS 16 and 38, and IAS 24. It is not expected
that its application has significant impacts.
b) IAS 19 (amendment), ‘Defined benefit plans –
Employee contributions’ (effective for annual
periods beginning on or after 1 February 2015).
This amendment applies to contributions from
employees or third parties to defined ben-
efit plans and aims to simplify the accounting
when contributions are not associated to the
number of years of service. This standard is
not applicable to the entity, which has no de-
fined benefit plans.
c) IAS 1 (amendment), ‘Disclosure initiative’ (ef-
fective for annual periods beginning on or af-
ter 1 January 2016). This amendment provides
guidance on materiality and aggregation, the
presentation of subtotals, the structure of fi-
nancial statements, the disclosure of account-
ing policies and OCI items presentation when
arising from investments measured at equity
method. It is not expected that its application
has significant impacts.
d) IAS 16 and IAS 38 (amendment), ‘Acceptable
methods of depreciation and amortisation cal-
culation’ (effective for annual periods begin-
ning on or after 1 January 2016). This amend-
ment clarifies that the use of revenue-based
methods to calculate the depreciation / amor-
tization of an asset is generally presumed to
be an inappropriate basis for measuring the
consumption of the economic benefits em-
bodied in an asset. This amendment applies
prospectively. It is not expected that its appli-
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