ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

Standards, amendments and
interpretations:
IFRS 11, Joint Arrangements (issued in
May 2011).
IFRS 12, Disclosure of Interests in Other
Entities (issued in May 2011).
IAS 27 (Revised), Separate Financial
Statements (issued in May 2011).
IAS 28 (Revised), Investments in
Associates and Joint Ventures (issued in
May 2011).
IFRS 13, Fair Value Measurement (issued
in May 2011).
Amendments to IAS 1, Presentation of
Items of Other Comprehensive Income
(issued in June 2011).
Amendments to IAS 19, Employee
Benefits (issued in June 2011).
Amendments to IFRS 9 and IFRS 7,
Effective Date and Transition Disclosures
(issued in December 2011).
Amendments to IAS 32, Offsetting
Financial Assets and Financial Liabilities
(issued in December 2011).
Amendments to IFRS 7, Offsetting
Financial Assets and Financial Liabilities
(issued in December 2011).
IFRIC 20, Stripping Costs in the
Production Phase of a Surface Mine (issued
in October 2011).
Supersedes IAS 31 on joint ventures.
Single IFRS presenting the disclosure requirements
for interests in subsidiaries, associates, joint
arrangements and unconsolidated entities
The IAS is revised, since as a result of the issue of
IFRS 10 it applies only to the separate financial
statements of an entity.
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Obligatory application
in years beginning
on or after:
1 January 2013
1 January 2013
1 January 2013
Revision in conjunction with the issue of IFRS 11,
Joint Arrangements. 1 January 2013
Sets out a framework for measuring fair value.
1 January 2013
Minor amendments relating to the presentation of
items of other comprehensive income. 1 July 2012
The amendments affect mainly defined benefit
plans since one of the major changes is the
elimination of the “corridor”.
Deferral of the effective date of IFRS 9 and
amendments to transition requirements and
disclosures.
Additional clarifications to the rules for offsetting
financial assets and financial liabilities under IAS
32.
1 January 2013
1 January 2015
1 January 2014
Introduction of new disclosures associated with
IFRS 7. 1 January 2013
Addresses the accounting treatment of the waste
material removal costs incurred in surface mining
operations.
- IFRS 9 - Financial Instruments: Classification and Measurement:
1 January 2013
IFRS 9 will in the future replace the current part of IAS 39 relating to classification and
measurement. There are very significant differences with respect to the current standard
relating to financial assets, including, inter alia, the approval of a new classification model
based on only two categories, namely instruments measured at amortised cost and those
measured at fair value, the disappearance of the current “held-to-maturity investments” and
“available-for-sale financial assets” categories, impairment analyses only for assets measured
at amortised cost and the non-separation of embedded derivatives in financial asset contracts.
In relation to financial liabilities, the classification categories proposed by IFRS 9 are similar to
those currently contained in IAS 39 and, therefore, there should not be any very significant
differences except for the requirement to recognise changes in fair value relating to own credit
risk as a component of equity, in the case of the fair value option for financial liabilities. At the
reporting date, the future impact of the adoption of this standard had not yet been analysed.