to download the 2012 registration document. - Groupe M6

2012 FINANCIAL STATEMENTS AND RELATED NOTES- Amendment to IFRS 1 – Government loans, applicable to financial years starting on or after 1January 2013;- IFRS 9 – Financial instruments (phase 1: Classification and measurement of assets and liabilities,applicable to financial years starting on or after 1 January 2015;- Amendments: IFRS 10, 11, 12 transitional provisions, applicable to financial years starting on orafter 1 January 2013.Nevertheless, the application of these texts should not have any material impact on the Group’s financialposition or performance.OPTIONS AVAILABLE AND APPLIED BY THE GROUP IN RELATION TO THE ACCOUNTING FRAMEWORKSome of the international accounting standards allow options relating to the valuation and accountingtreatment of assets and liabilities. The options utilised by the Group are detailed in Note 3.5.In addition, IFRS 1 - First adoption of IFRS, relating to the first time application of the internationalreporting framework, allows options in respect of the retrospective application of IFRS at the date oftransition (1 January 2004) for the Group. In this regard, the Group has used the following options:- business combinations prior to 1 January 2004 have not been restated in accordance withIFRS 3 – Business combinations;- IAS 39 has been applied retrospectively as from 1 January 2004.3.2. Preparation principlesThe consolidated financial statements have been prepared in accordance with the historical costprinciple, except for derivative instruments, financial assets available for sale and assets measured at fairvalue through the income statement, which have been measured at fair value. Other financial assets havebeen measured at amortised cost.Except for derivatives measured at fair value, financial liabilities have been valued in accordance with theamortised cost principle. The book value of assets and liabilities recognised in the balance sheet andsubject to a fair value hedge has been restated to reflect the movements in the fair value of the riskshedged against.3.3. Use of estimates and assumptionsIn order to prepare the consolidated financial statements in compliance with IFRS, Group Managementmakes estimates and formulates assumptions which affect the amounts presented as assets andliabilities on the consolidated balance sheet, the information provided on contingent assets and liabilitiesat the time of preparing this financial information, as well as the income and expenditure recognised in theincome statement.Management continually reviews its estimates and assumptions of the book value of asset and liabilityitems, taking into account past experience as well as various other factors that it deems reasonable (suchas the prevailing economic climate of the year).The estimates and assumptions established during the finalisation of the consolidated financialstatements are liable to be substantially called into question over future financial years, both as a result ofchanges in the Group’s operations and performance and exogenous factors affecting the Group’sdevelopment.The main estimates and assumptions relate to:- the valuation and recoverable value of goodwill and intangible assets such as audiovisual rightsand the acquisition cost of sports club players; the estimation of the recoverable value of theseM6 GROUP - 2012 REGISTRATION DOCUMENT - 159