Half-yearly financial Report at June 30, 2013 - A2A

Half-yearly financial report at June 30, 2013Changes in accounting standards• IAS 39 “Financial Instruments: Recognition and Measurement”: the amendments to thisstandard, issued on June 27, 2013, regard the accounting for derivatives which have beendesignated as hedging instrument if there is novation of the counterparty. Before theintroduction of these amendments, if a derivative which had been designated as a hedginginstrument was novated, IAS 39 required an interruption to cash flow hedge accounting onthe assumption that the novation led to the conclusion and extinguishment of the preexistinghedging instrument. These amendments are applicable retrospectively fromJanuary 1, 2014;• IFRS 10, IFRS 12 and IAS 27: the amendments to these standards, issued in October 2012,regard the exclusion from the consolidation scope of the majority of companies controlledby funds or similar bodies, requiring that these be measured at “fair value through profitor loss”. The amendments also regard IFRS 12 on the question of disclosures made byinvestment companies;• IFRIC 21 “Levies”: this interpretation of IAS 37 “Provisions, Contingent Liabilities andContingent Assets” was issued on May 20, 2013 and regards the accounting for leviesimposed by governments which do not fall within the scope of IAS 12 “Income Taxes”. IAS37 “Provisions, Contingent Liabilities and Contingent Assets” sets out criteria for therecognition of a liability, one of which is the requirement for the entity to have a presentobligation as a result of a past event (known as an obligating event). The interpretationclarifies that the obligating event that gives rise to a liability to pay a levy is the activitydescribed in the legislation that triggers the payment of the levy. The interpretation isapplicable from January 1, 2014.57