Values

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Report Statements Supervisory
Board
Income Statement
Statement of Comprehensive Income
Balance Sheet
Cash Flow Statement
Statement of Changes in Equity
Notes
Effects from the Future Compulsory Application of
Accounting Standards
Th e IASB and the IFRIC have issued the following new or
amended accounting standards and interpretations, the application
of which is not yet compulsory for Bertelsmann’s
consolidated fi nancial statements for fi scal year 2009.
• Improvements to IFRS
• Revised version of IAS 24: Related Party Disclosures
• Amendments to IAS 27: Consolidated and Separate Financial
Statements
• Amendments to IAS 32: Classifi cation of Rights Issues
• Amendments to IAS 39: Financial Instruments: Recognition
and Measurement: Eligible
Hedge Items
• Amendments to IFRIC 9 and IAS 39:
Embedded Derivatives
• Amendments to IFRS 2: Group Cash-Settled Share-Based
Payment Transactions
• Revised version of IFRS 1: First-Time Adoption of IFRS
• Amendments to IFRS 1: Additional Exemptions for First-
Time Adopters
• Revised version of IFRS 3: Business Combinations
• IFRS 9: Financial Instruments
• IFRIC 12: Service Concession Arrangements
• Amendments to IFRIC 14: Prepayments of a Minimum
Funding Requirement
• IFRIC 15: Agreements for the Construction
of Real Estate
•IFRIC 16: Hedges of a Net Investment in a
Foreign Operation
•IFRIC 17: Distributions of Non-Cash Assets
to Owners
•IFRIC 18: Transfers of Assets from
Customers
• IFRIC 19: Extinguishing Financial Liabilities
with Equity Instruments
Th ere is no early adoption of these standards and interpretations.
Recognition of the following accounting standards and
interpretations by the EU is still outstanding: Improvements
to IFRS, amendments to IFRS1, IFRS 2 and IFRIC 14 as well as
IFRS 9, IFRIC 19 and the revised IAS 24.
Consolidation
Principles of Consolidation
All subsidiaries that are controlled either directly or indirectly by
Bertelsmann AG as defi ned by IAS 27 and conduct business operations
are included in the consolidated fi nancial statements. Control
exists when Bertelsmann AG has the possibility or the actual
ability (de facto control), either directly or indirectly, to determine
Bertelsmann Annual Report 2009
Th e application of IFRS 3 (revised 2008) and amendments to
IAS 27 to the Bertelsmann consolidated fi nancial statements
will be compulsory starting in 2010. Th ese rules have a major
eff ect on the presentation of business combinations in the
consolidated fi nancial statements. Th e key new features of the
revised IFRS 3 relate to the valuation of minority interests, the
recognition of successive acquisitions and the treatment of conditional
purchase price components and incidental acquisition
costs. In future, minority interests can be measured at their fair
value (full goodwill method) or at the fair value of the proportionate
identifi able net assets. In the case of successive company
acquisitions, the revaluation and recognition in income of
the interests held on the date control was transferred applies. In
future, adjustments to conditional purchase price components
have to be recognized in income. Incidental acquisition costs
are recognized as expenses on the date these arise. Th e key
changes in IAS 27 (2008) relate to accounting for reductions
and increases in the interest without a loss of control. According
to the new provisions, changes in equity interests that do not
impact full consolidation may only be taken directly to equity in
future (in line with acquisitions of treasury stock). Th e inclusion
of hidden reserves and the adjustment to the goodwill already
accounted for no longer applies. If control is lost, the remaining
interests must be measured at fair value. In the case of minority
interests, negative balances may be carried. Th is means that
losses can be included in future to an unlimited extent in line
with the proportionate equity interest.
IFRS 9 is to be applied by 2013 and will replace IAS 39. Th is
will have a far-reaching impact on the carrying amounts for and
valuation of fi nancial instruments.
Th e further amendments to IAS 24, IAS 32, IAS 39, IFRS 1,
IFRS 2 and IFRIC 14 to be applied in the future, the improvements
to IFRS and the interpretations IFRIC 12, IFRIC 15,
IFRIC 16, IFRIC 17, IFRIC 18 and IFRIC 19 to be applied in the
future relate in part to the Group’s transactions, though these are
not expected to have a material impact.
the fi nancial and business policy of an entity in such a way as to
obtain benefi ts from its activities. Th e consolidation principles
applied in the present consolidated fi nancial statements remain
unchanged in comparison with the previous year.
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