Home     Imprint     Contact     Sitemap     Search     Downloads      
Financial Statements

In addition to the standards and interpretations for which application was mandatory for the consolidated financial statements as of September 30, 2007, there are further new, revised standards and interpretations that are, however, not yet to be used for fiscal years that started on October 1, 2006.

  • IAS 1 “Presentation of Financial Statements”
    The amendments to IAS 1 published in September 2007 relate to the presentation of changes in equity. The amendments must be applied to fiscal years commencing after January 1, 2009. The amendment has not yet been recognized under the EU Commission's endorsement process.
  • IAS 23 “Borrowing Costs”
    IAS 23 was amended in March 2007 and the option no longer exists in the amended version of immediately recognizing borrowing costs relating to assets that need a certain time to be used up or sold as an expense. The amended standard is applicable to fiscal years commencing after January 1, 2009. The amendment has not yet been recognized under the EU Commission's endorsement process.
  • IFRS 7 “Financial Instruments: Disclosures”
    In future, this standard will replace parts of IAS 32, which previously regulated the disclosure of and requirements for stating financial instruments. IFRS 7 is effective for accounting periods beginning on or after January 1, 2007. The standard has already been recognized as part of the EU Commission's endorsement process.
  • IFRS 8 “Operating Segments”
    On November 30, 2006, the IASB published IFRS 8. This will replace the currently relevant standard IAS 14 on segment reporting for fiscal years commencing after January 1, 2009. The standard has not yet been recognized under the EU Commission’s endorsement process.
  • IAS 1 “Presentation of Financial Statements”
    During the revision of IAS 1, the disclosure requirements for information on an entity’s equity have been expanded. The expanded requirements for disclosing this information are effective for periods beginning on or after January 1, 2007. The EU Commission has already accepted this change.
  • IFRIC 10 “Interim Financial Reporting and Impairment”
    This interpretation regulates issues on the treatment of non-scheduled depreciation of certain assets in interim financial statements and in annual financial statements thereafter, and is effective for periods commencing on or after November 1, 2006. This interpretation has been endorsed by the EU Commission.
  • IFRIC 11 “IFRS 2 – Group Treasury Share Transactions”
    This interpretation clarifies issues about the application of IFRS 2 to share-based payments. It is effective for periods commencing on or after March 1, 2007. The EU Commission has already endorsed this interpretation.
  • IFRIC 12 “Service Concession Rights”
    This interpretation regulates issues relating to the financial reporting of rights and obligations arising from service agreements that obligate operators to provide assets that stay in the public sector. The rules are applicable to fiscal years beginning on or after July 1, 2008. The interpretation has not yet been recognized under the EU Commission’s endorsement process.
  • IFRIC 13 “Customer Loyalty Programs”
    This interpretation, published in June 2007, deals with issues raised on the financial reporting of customer loyalty programs, under which customers are granted loyalty award credits that can be redeemed in the future for free or discounted goods or services. This interpretation is applicable to fiscal years beginning on or after July 1, 2008. The EU Commission has not yet endorsed this interpretation.
  • IFRIC 14 “IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction”
    IFRIC 14 provides general guidance on determining the upper limit for the surplus of a pension fund and is applicable to fiscal years commencing on or after January 1, 2008. The EU Commission has not yet recognized this interpretation under its endorsement process.

The revisions to the standards and interpretations detailed above will not be applied ahead of time and are not expected to have any material impact on the financial position and results of operations of the DOUGLAS Group.

|«  «  »  »|