2009 - TDM Berhad

82 TDM Berhad (6265-P)Notes to the Financial Statements2. Significant Accounting Policies (cont’d.)2.3 Standards and Interpretations issued but not yet effective (cont’d.)Effective for financial periods beginning on or after 1 July 2010FRS 1: First-time Adoption of Financial Reporting StandardsFRS 3: Business Combinations (revised)FRS 127: Consolidated and Separate Financial Statements (amended)Amendments to FRS 2: Share-based PaymentAmendments to FRS 5: Non-current Assets Held for Sale and Discontinued OperationsAmendments to FRS 138: Intangible AssetsAmendments to IC Interpretation 9: Reassessment of Embedded DerivativesIC Interpretation 12: Service Concession ArrangementsIC Interpretation 15: Agreements for the Construction of Real EstateIC Interpretation 16: Hedges of a Net Investment in a Foreign OperationIC Interpretation 17: Distributions of Non-cash Assets to OwnersThe Group and the Company plan to adopt the above pronouncements when they become effective in the respective fi nancial period.Unless otherwise described below, these pronouncements are expected to have no signifi cant impact to the fi nancial statements ofthe Group and the Company upon their initial application:Pronouncements effective for financial periods beginning on or after 1 July 2009FRS 8: Operating SegmentFRS 8 replaces FRS 114 2004: Segment Reporting and requires a ‘management approach’, under which segment information ispresented on a similar basis to that used for internal reporting purposes. As a result, the Group’s external segmental reporting willbe based on the internal reporting to the “chief executive decision maker”, who makes decisions on the allocation of resourcesand assesses the performance of the reportable segments. As this is a disclosure standard, there will be no impact on the fi nancialposition or results of the Group.Pronouncements effective for financial periods beginning on or after 1 January 2010FRS 101: Presentation of Financial Statements (revised)The revised FRS 101 separates owner and non-owner changes in equity. Therefore, the consolidated statement of changes in equitywill now include only details of transactions with owners. All non-owner changes in equity are presented as a single line labelled astotal comprehensive income. The Standard also introduces the statement of comprehensive income: presenting all items of incomeand expense recognised in the income statement, together with all other items of recognised income and expense, either in one singlestatement, or in two linked statements. The Group is currently evaluating the format to adopt. In addition, a statement of fi nancialposition is required at the beginning of the earliest comparative period following a change in accounting policy, the correction of anerror or the reclassifi cation of items in the fi nancial statements. This revised FRS does not have any impact on the fi nancial positionand results of the Group and the Company.