Download - Salzgitter AG

1) As of December
31, 2007
2) Early application
in 2007
Accounting Principles
The consolidated financial statements of Salzgitter AG (SZAG) were prepared in accordance with the
accounting principles of the International Accounting Standards Board (IASB) that were rendered
mandatory on the reporting date by EU Directive no. 1606/2002 and are based on the principle of historical
acquisition cost. The requirements of the applied standards and interpretations (SIC/IFRIC)
were satisfied without exception and convey a true and fair picture of the Salzgitter Group’s net assets,
financial position and results of operations.
Impact of new or amended standards:
Standard/Interpretation Mandatory Adoption Likely
date by EU
commission
effects
1)
IFRS 7 Financial Instruments: Disclosures 01/01/2007 yes Notes to the
financial
statements
IFRS 8 Operating Segments 01/01/20092) yes Segmental
reporting
IAS 1 Presentation of Financial Statements – 01/01/2007 yes Notes to the
Capital Disclosures financial
statements
IFRIC 7 Applying the Restatement Approach under IAS 29
Financial Reporting in Hyperinflationary Economies
01/03/2006 yes none
IFRIC 8 Scope of IFRS 2 01/05/2006 yes none
IFRIC 9 Reassessment of Embedded Derivatives 01/06/2006 yes no material
effects
IFRIC 10 Interim Financial Reporting and Impairment 01/11/2006 yes none
IFRIC 11 Group and Treasury Share Transactions
in Accordance with IFRS 2
01/02/2007 yes none