Annual Report 2008 – Financial Section - Quilvest

Significant Accounting Policies (continued)
New IFRS standards and IFRIC interpretations
New standards, amendments and interpretations to existing standards have been published up to the date the Board of Directors has approved
these consolidated financial statements, which are mandatory for the Group from accounting periods beginning January 1, 2009
and which the Group has not early adopted. Below is the Group's assessment on those new accounting and reporting developments.
1) New and revised standards
IFRS 8 Operating Segments
Date of required application January 1, 2009
Content This new standard defines the disclosures relating to operating segments and requires entities
to disclose quantitative and qualitative information on products and services, geographical
areas and major customers.
Assessment Management is currently analyzing the impact of this amendment on the Group's disclosures.
Revised IAS 23 Borrowing costs
Date of required application January 1, 2009
Content The revisions to IAS 23 concern restrictions to the accounting treatment of borrowing costs
that are directly attributable to the acquisition, construction or production of a qualifying
asset.
Assessment Management considers that this revised standard will have no impact on the Group.
Revised IAS 1 Presentation of Financial Statements
Date of required application January 1, 2009
Content The revisions aim to improve users’ ability to analyse and compare the information given in
financial statements.
Assessment The revisions will change the presentation of owner changes in equity and of comprehensive
income.
Revised IFRS 3 Business Combination
Date of required application January 1, 2009
Content The revisions to IFRS 3 maintain the accounting principle of the acquisition method to
business combinations with some significant changes.
Assessment IFRS 3 will have an impact on how the Group reports on business combinations.
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