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CONSOLIDATED FINANCIALSTATEMENTS
BarryCallebaut
Annual Report2010/11
Interpretations and amendments to existing standards,not yeteffectiveand not relevant
forthe Group’soperations
IAS24–Related party disclosures (effectiveJanuary1,2011)
The revised standard simplifies the disclosure requirements for entities that are controlled,
jointly controlled or significantly influenced by agovernment and clarifies the definition of a
related party. Areporting entity might be exempted from the general disclosure requirements
set out in IAS 24inrelation to related party transactions and outstanding balances
(including commitments), if certain requirements are met.
IFRIC14–Prepayments of aminimum funding requirement(effectiveJanuary1,2011)
Under the amended IFRIC 14,ifthere isaminimum funding requirement for contributions
relating to future service, the economic benefit available as areduction in future contributions
(and, therefore, the surplus that should be recognized as an asset) is comprised of:
(a) any amount that reduces future minimum funding requirement contributions for future
services because the entity made aprepayment; and (b) the estimated future service cost in
each period less the estimated minimum funding requirement contributions that would be
required for futureservice in that period if therewerenoprepayment of those contributions
as described in (a).
IAS12–Income Taxes(effectiveJanuary1,2012)
The amendments provide an exception to the general principle in IAS 12that the measurement
of the deferred tax asset and deferred tax liabilities should reflect the tax consequences
that would follow from the manner in which the entity expects to recover the carrying amount
of the asset. The changes mainly refer to investment properties measured at fair value with
no impact on the Group’s Consolidated Financial Statements as the Group does not have
investment properties measured at fair value.
Improvements forIFRS(effectiveJanuary1,2011)
Several standards have been modified on miscellaneous points.They are not going to have a
material impact to the Group’sconsolidated financial statements.The Group will apply these
changes for the accounting period starting September 1, 2011.
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