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72 Consolidated financial statements<br />
––<br />
The first-time application of these standards did<br />
not influence the values in the consolidated financial<br />
statements but the notes to the consolidated<br />
financial statements were extended accordingly.<br />
The following new standards and interpretations<br />
will become effective in successive periods:<br />
IAS 1 (revised) Presentation of Financial<br />
Statements (for business years starting from<br />
1 July 2012)<br />
IAS 12 (revised) Deferred Tax (for business<br />
years starting from 1 January 2012)<br />
IAS 19 (revised) Employee Benefits<br />
(for business year starting from 1 January 2012)<br />
IAS 27 (revised) Consolidated and Separate<br />
Financial Statements (for business years starting<br />
from 1 January 2013)<br />
IAS 28 (revised) Investments in Associates<br />
(for business years starting from 1 January 2013)<br />
IFRS 7 (revised) Transfer of Financial Assets<br />
(for business years starting from 1 July <strong>2011</strong>)<br />
IFRS 9 Financial Instruments (for business year<br />
starting from 1 January 2015)<br />
IFRS 10 Consolidated Financial Statements<br />
(for business years starting from 1 January 2013)<br />
IFRS 11 Joint Arrangements (for business years<br />
starting from 1 January 2013)<br />
IFRS 12 Disclosure of Interests in Other Entities<br />
(for business years starting from 1 January 2013)<br />
IFRS 13 Fair Value Measurement (for business<br />
years starting from 1 January 2013)<br />
IASB <strong>Annual</strong> Improvement Project <strong>2011</strong><br />
Although a systematic analysis has not yet been<br />
made, an initial evaluation indicates that, with<br />
the exception of the revised IAS 19, the above<br />
changes will have an only marginal influence on<br />
the consolidated financial statements, while leading<br />
to additional disclosure. In accordance with<br />
the amended version of IAS 19, the difference<br />
between the fair value of plan assets and the present<br />
value of the defined benefit obligation will be<br />
written to other comprehensive income and recognized<br />
in the consolidated statement of shareholders'<br />
equity in the future. This practice would<br />
have reduced reported equity in the consolidated<br />
financial statements for <strong>2011</strong> by CHF 4.5 million.
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