pdf (2.5 MB) - METRO Group

METRO GROUP : ANNUAL REPORT 2010 : BUSINESS
→ NOTES : NOTES TO ThE GROuP ACCOuNTING PRINCIPlES ANd METhOdS
between the carrying amounts of the net assets to be distributed
and the dividend paid must be recognised in profit
or loss at the time of distribution.
As no non-cash dividends were distributed within
METRO GROuP, the application of IfRIC 17 had no effect on
the consolidated financial statements of METRO AG.
IFRIC 18 (Transfers of Assets from Customers)
The interpretation clarifies the disclosure requirements for
agreements in which an entity receives from a customer an
item of property, plant and equipment or cash to be used to
acquire or construct the necessary item of property, plant
and equipment that the entity must then use either to connect
the customer to a network or to provide the customer
with ongoing access to a supply of goods or services. According
to IfRIC 18, the recipient may recognise the asset in its
financial statements only when the item of property, plant
and equipment transferred from the customer or the item
of property, plant and equipment purchased or constructed
with the customer’s cash funds meets the definition of an
asset under the IASB framework. for this to occur, the
recipient must gain control over the transferred item. If this
is the case, the asset must be classified under property,
plant and equipment and measured at fair value.
Standard/
Interpretation Title
→ p. 157
According to IfRIC 18, the connection to a network or the
provision of ongoing access to a supply of goods or services
in return for the transfer of property, plant and equipment
represents an exchange transaction in the meaning of IAS
18 (Revenue) for which revenue must be realised at the time
the services are performed. If there are separately identifiable
services received by the customer in exchange for the
transfer, then the fair value of the transaction should be
allocated to the individual services and recognised separately
when the services are performed.
The application of IfRIC 18 had no effect on the consolidated
financial statements of METRO AG.
In the context of the “Improvements to IfRSs 2009”, amendments
were made to other standards. These had no effect
on the consolidated financial statements of METRO AG.
A number of other accounting standards and interpretations
were newly adopted or revised by the IASB that will be binding
from 1 January 2011 at the earliest, insofar as they are
approved by the European Commission and relevant to
METRO AG:
Application at
METRO AG from Approved by EU 1
IfRS 1
first-time Adoption of International financial Reporting Standards (Amendment: Severe hyperinflation
and Removal of fixed dates for first-Time Adopters)
first-time Adoption of International financial Reporting Standards (limited Exemption from
1/1/2012 No
IfRS 1
Comparative IfRS 7 disclosures for first-Time Adopters) 1/1/2011 yes
IfRS 7 financial Instruments: disclosures (Amendment: disclosures – Transfers of financial Assets) 1/1/2012 No
IfRS 9 financial Instruments (Phase 1: Classification and Measurement) 1/1/2013 No
IAS 12 Income Taxes (Amendment: deferred Tax – Recovery of underlying Assets) 1/1/2012 No
IAS 24 Related Party disclosures (Revised) 1/1/2011 yes
IAS 32 financial Instruments: Presentation (Amendment: Classification of Rights Issues)
IAS 19 – The limit on a defined Benefit Asset, Minimum funding Requirements and their Inter-
1/1/2011 yes
IfRIC 14
action (Amendment: Prepayments of a Minimum funding Requirement) 1/1/2011 yes
IfRIC 19 Extinguishing financial liabilities with Equity Instruments 1/1/2011 yes
diverse Improvements to IfRSs 2010 1/1/2011 No
1 As of 31 december 2010