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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss
→ noTes : noTes To THe GRoUp aCCoUnTInG pRInCIples anD MeTHoDs
as no prepayments of contributions to pension plans with
minimum funding requirements were made during the financial
year 2011, the amendment to IFRIC 14 was of no relevance
to MeTRo aG.
IFRIC 19 (Extinguishing Financial Liabilities
with Equity Instruments)
The new interpretation IFRIC 19 clarifies the accounting
by the entity that issues equity instruments in order to
settle financial liabilities. The issued equity instruments
are regarded as “consideration paid” in accordance with
Ias 39.41 (Financial Instruments: Recognition and Measurement)
and are recognised at fair value. any differences
between the fair value of the equity instruments issued and
the carrying amount of the extinguished financial liability
are recognised in profit or loss. IFRIC 19 came into effect on
1 July 2010 and therefore applied to MeTRo aG for the first
time in the financial year 2011.
as no such transactions were carried out during the reporting
year, the first-time adoption of IFRIC 19 had no effect on
the consolidated financial statements of MeTRo aG.
standard/
interpretation Title
→ p. 187
In addition, the amendment “limited exemption from Comparative
IFRs 7 Disclosures for First-time adopters” to IFRs 1
(First-time adoption of International Financial Reporting
standards) came into effect. as it only applies to first-time
adopters of IFRss, it did not apply to MeTRo aG.
In the context of “Improvements to IFRs 2010”, amendments
were made to other standards. These had no effect on the
consolidated financial statements of MeTRo aG.
a number of other accounting standards and interpretations
were newly adopted or revised by the IasB that will be binding
for MeTRo aG from 1 January 2012 at the earliest, insofar
as they are approved by the european Commission and relevant
to MeTRo aG:
Application at
METRO Ag from 1 Approved by EU 2
IFRs 1
First-time adoption of International Financial Reporting standards
(amendment: severe Hyperinflation and Removal of Fixed Dates for First-Time adopters) not applicable3 no
IFRs 7 Financial Instruments: Disclosures (amendment: Disclosures – Transfers of Financial assets)
Financial Instruments: Disclosures
1/1/2012 Yes
IFRs 7
(amendment: Disclosures – offsetting of Financial assets and Financial liabilities) 1/1/2013 no
IFRs 9 Financial Instruments (phase 1: Classification and Measurement) 1/1/2015 no
IFRs 10 Consolidated Financial statements 1/1/2013 no
IFRs 11 Joint arrangements 1/1/2013 no
IFRs 12 Disclosure of Interests in other entities 1/1/2013 no
IFRs 13 Fair value Measurement
presentation of Financial statements
1/1/2013 no
Ias 1
(amendment: presentation of Items of other Comprehensive Income) 1/1/2013 no
Ias 12 Income Taxes (amendment: Deferred Tax – Recovery of Underlying assets) 1/1/2012 no
Ias 19 employee Benefits (Revision) 1/1/2013 no
Ias 27 separate Financial statements (revision and renaming as part of the introduction of IFRs 10)
Investments in associates and Joint ventures
1/1/2013 no
Ias 28
(revision and reissuance as part of the introduction of IFRs 11)
Financial Instruments: presentation
1/1/2013 no
Ias 32
(amendment: offsetting of Financial assets and Financial liabilities) 1/1/2014 no
IFRIC 20 stripping Costs in the production phase of a surface Mine 1/1/2013 no
1 precondition: eU approval before the prescribed IFRs effective date
2 as of 31 December 2011
3 as IFRs 1 applies exclusively to first-time adopters of IFRs, it does not have to be applied at MeTRo aG