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Kabel Deutschland GmbH Notes to the consolidated financial statements changes by IFRS 3 and IAS 27 will affect future acquisitions or loss of control and transactions with minority interests. The standard may be adopted early. However, the Group does not intend to take advantage of this possibility. In March 2009, the IASB issued amendments to IFRIC 9 “Reassessment of Embedded Derivatives” and IAS 39 to clarify that on reclassification of a financial asset out of the ‘at fair value through profit or loss’ category all embedded derivatives have to be assessed and, if necessary, separately accounted for in financial statements. The amendments are effective for annual periods beginning on or after June 30, 2009. The Group will consider the revised IFRIC 9 in case of future reclassifications. In January 2009, the IFRIC issued the interpretation IFRIC 18 “Transfers of Assets from Customers” which becomes effective for transfers of assets from customers received on or after July 1, 2009. The IFRIC clarifies the requirements of IFRSs for agreements in which an entity receives from a customer an item of property, plant and equipment that the entity must then use either to connect the customer or provide the customer with ongoing access to a supply of goods or services (such as supply of electricity, gas or water). In some cases, the entity receives cash from a customer which must be used only to acquire or construct the item of property, plant and equipment in order to connect the customer to a network or provide the customer with ongoing access to a supply of goods or services (or to do both). The Company is currently analyzing the impact of applying IFRIC 18 on the presentation of its results of operations, financial position or cash flows but does not expect any effects since no assets are transferred in such a way that IFRIC 18 is applicable. The following standards and interpretations have been issued by the IASB endorsed by the EU and are not yet effective for these financial statements and will have no effect on the financial statements of the Group or the Notes thereon: 11 Pronouncement Date of issue by the IASB Title Amendments to IFRS 1 January 2010 Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters IFRS 1 July 2009 Additional Exemptions Amendments to IFRIC 14 November 2009 Prepayments of a Minimum Funding Requirement Amendments to IAS 32 October 2009 Amendments to IAS 39 August 2008 Financial Instruments: Presentation - Classification of Rights Issues Financial Instruments: Recognition and Measurement - Amendments for Eligible Hedged Items IFRIC 9 March 2009 Reassessment of Embedded Derivatives Amendments to IFRIC 16 April 2009 Hedges of a Net Investment in a Foreign Operation IFRIC 17 November 2008 Distributions of Non-Cash Assets to Owners
Kabel Deutschland GmbH Notes to the consolidated financial statements 12 The Group has not applied any of the following IFRSs and IFRIC interpretations that have been issued but have not yet been endorsed by the EU as of July 20, 2010 and are not effective as of March 31, 2010. In November 2009, the IASB issued IFRS 9 ‘‘Financial Instruments’’. This standard is the first phase of the IASB’s three-phase project to replace IAS 39 Financial Instruments: Recognition and Measurement. IFRS 9 amends the classification and measurement requirements for financial assets, including some hybrid contracts. It uses a single approach to determine whether a financial asset is measured at amortized cost or fair value, replacing the different rules in IAS 39. The approach in IFRS 9 is based on how an entity manages its financial instruments (its business model) and the contractual cash flow characteristics of the financial assets. The new standard also requires a single impairment method to be used, replacing the different impairment methods in IAS 39. The new standard is applicable for annual reporting periods beginning on or after January 1, 2013; early adoption is permitted. The European Financial Reporting Advisory Group postponed its endorsement advice, to take more time to consider the output from the IASB project to improve accounting for financial instruments. The Group is currently assessing the impact of the adoption on the Group’s Consolidated Financial Statements. The following standards and interpretations have been issued by the IASB but are not endorsed by the EU and are not yet effective for these financial statements and will have no effect on the financial statements of the Group or the Notes thereon: Pronouncement Date of issue by the IASB Title IFRIC 19 November 2009 Extinguishing Financial Liabilities with Equity Instruments 2.2 Cash and Cash Equivalents Cash and cash equivalents are primarily comprised of cash in hand and other shortterm, highly liquid investments with an original maturity of three months or less. Cash in hand and at banks are carried at nominal value. For purposes of the consolidated statement of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts. 2.3 Trade and Other Receivables Trade and other receivables are disclosed at their nominal amount less bad debt allowances for any amounts deemed uncollectible. The Group considers evidence of
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usiness. Kabel Deutschland GmbH Gro
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Audit opinion We have audited the c
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