ANNUAL REPORT 2008 | 2009 - SinnerSchrader AG

Consolidated Financial Statements of SinnerSchrader AGNotes49Furthermore, in the previous year, the IASB issued standards as well as interpretations and amendments toexisting standards which have since been adopted in the context of EU endorsement but the application ofwhich was not mandatory for SinnerSchrader as of 31 August 2009. The following standards are concerned:IAS/IFRS/IFRIC Content To be applied for annual periodsbeginning on or after thefollowing dateIAS 1 1) Presentation of Financial Statements 1 January 2009IFRS 3 1) Business Combinations 1 July 2009IAS 27 1) Consolidated and Separate Financial Statements 1 July 2009IFRS 2 1) Share-based Payment (Vesting Conditions and Cancellation) 1 January 2009IAS 32 1) Financial Instruments: Presentation (Puttable Instruments) 1 January 2009IFRS 1 1) /IAS 27 1) Costs of an investment in a subsidiary,1 January 2009an entity under common control or an associateVarious Annual Improvement Project 2008 2) 1 January 2009IFRIC 15 Agreements for the Construction of Real Estate 1 January 2009IFRIC 16 Hedges of a Net Investment in a Foreign Operation 1 October 2008IASInternational Accounting StandardsIFRS International Financial Reporting StandardsIFRIC International Financial Reporting Interpretations Committee1)Amendments2)Effect on several standardsSinnerSchrader is not expecting any major impact on its consolidated assets, financial, and income situationas a result of applying these regulations for the first time. The application of IFRS 1 will result in changes in thenaming and identification of some components of the Consolidated Annual Financial Statements; the first-timeapplication of the changed standards in conjunction with the two Annual Improvement Projects will probablyresult in additional information in the Notes.In the Annual Financial Statements for the 2008/2009 financial year, SinnerSchrader used IFRS 8 for segmentreporting – which is to be used for the first time for financial years starting after 1 January 2009 – ahead of timebecause the Management felt that segment reporting in accordance with the management approach was usefulas information for the recipients of the Annual Financial Statements.2.3 Consolidation GroupThe consolidation group as of 31 August 2009 consisted of the AG as well as the following direct or indirectsubsidiaries of the AG, each of which was fully consolidated:• SinnerSchrader Deutschland GmbH, Hamburg, Germany• spot-media AG, Hamburg, Germany• spot-media consulting GmbH, Hamburg, Germany• newtention technologies GmbH, Hamburg, Germany• newtention services GmbH, Hamburg, Germany• next commerce GmbH, Hamburg, Germany• SinnerSchrader UK Ltd., London, UK• SinnerSchrader Benelux BV, Rotterdam, the Netherlands