PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

Consolidated Financial Statements of gildemeister Aktiengesellschaft: Notes to the Consolidated Financial Statements 141Changes in accounting and valuation methods due to new standardsIn the financial year 2010, the following new and revised standards, as well as iasb / ifricinterpretations, had to be applied for the first time:ifrs 3 Business combinations (revised 2008)ias 27 Consolidated and separate financial statements according to ifrs (revised 2008)ias 39Amendment to ias 39 – Eligible hedged itemsifrs 2Group cash-settled share-based payment transactionsifric 12 Service concession arrangementsifric 15 Agreements for the construction of real estateifric 16 Hedges of a net investment in a foreign operationifric 17 Distributions of non-assets to ownersifric 18 Transfers of assets from customersVarious Improvements to ifrs (July 2009 / January 2010)gildemeister has applied the following new and revised ifrs as of 1 January 2010that are relevant to the consolidated financial statements:ifrs 3 (revised) “Business combinations” and the resulting changes to ias 27“Consolidated and separate financial statements according to ifrs”, ias 28 “Investmentsin associates” and ias 31 “Interests in joint ventures” are to be applied to acquisitions infinancial years that commence on or after 1 July 2009. The revised standard still prescribesthat mergers be accounted for applying the acquisition method, however with somesignificant changes. For example: All company purchase price payments are measured atfair value at the acquisition date. In doing so, contingent consideration is recognised asliability and changes in subsequent measurement are recognised in profit or loss. Thereis an option per acquisition of a non-controlling interest either to measure at fair valueor at the proportionate share of re-measured net assets of the acquiree. All acquisitionrelated costs have been recognised as expense.The revised ias 27 requires the presentation of the effects of significant transactionswith minority interests in equity insofar as there is no change to the control and thesetransactions do not lead to any goodwill or to any profit or loss. In the event of a loss ofcontrol, the standard provides detailed instructions on accounting presentation. Accordingto this, the remaining interest must be measured at fair value and any profit or lossarising out of the re-measurement should be recognised as such. The revised standardhas no effect on the reporting period as there is no negative balance for any of the noncontrollinginterests, no transaction have taken place, by which interests have beenretained following the loss of control over the corresponding company, and no transactionshave taken place with non-controlling interest subsidiaries.The other new and revised standards and interpretations referred to above are notrelevant for gildemeister and therefore have not been further discussed.consolidated financialstatements