GENERAL MEETING DRAFT - Bankier.pl

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>> Financial Statements
Part A – Accounting Policies
No material events have occurred after the balance sheet date that would make it necessary to change
any of the information given in the Consolidated Accounts. See the Report on Operations for a description
of significant events after year end.
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Since 2009 the following principles or accounting interpretations have become effective:
� Improvements to IFRSs (EC regulation 70/2009) (excluding revisions to IFRS1 and IFRS5);
� IAS 1: Presentation of Financial Statements (transposed into EC regulation 1274/2008);
� IAS 23: Borrowing costs (EC regulation 1260/2008);
� Amendments to IAS 32: Financial Instruments – Disclosure and Presentation and IAS1:
Presentation of Financial Statements – Puttable Financial Instruments and Obligation Arising on
Liquidation (EC regulation 53/2009);
� Amendments to IFRS 1: First-time Adoption of International Financial Reporting Standards and to
IAS 27: Consolidated and Separate Financial Statements – Cost of an Investment in a Subsidiary,
Jointly-controlled Entity or Associate (EC regulation 69/2009);
� Amendments to IFRS 2: Share-Based Payment (EC regulation 1261/2008);
� Amendments to IFRS 4: Insurance contracts and to IFRS 7 Improving Disclosures about
Financial Instruments (EC regulation 1165/2009);
� IFRS 8: Operating Segments (EC regulation 1358/2007);
� Amendments to IAS 39 and to IFRS 7: Reclassification of Financial Assets – Effective Date and
Transition (CE regulation 824/2009);
� Amendments to IFRIC 9: Reassessment of Embedded Derivatives and to IAS 39: Financial
Instruments: Recognition and Measurement (EC regulation 1171/2009);
� IFRIC 13: Customer Loyalty Programmes (EC regulation 1262/2008);
� IFRIC 14: The limit of a Defined Benefit Assets, Minimum Funding Requirements and their
Interaction (EC regulation 1263/2008).
As regards the new version of IAS 1 "Presentation of Financial Statements" and the adoption of the
statement of comprehensive income, see Section 2 above - General Principles.
In addition, it should be noted that the revisions to IFRS 7 include the requirement that valuations at fair
value be classified on the basis of a hierarchy of levels that reflects the significance of the inputs used in
the valuations.
Both these revisions are included in those incorporated in the referenced first amendment to Circular
262/2005 of Banca d'Italia (see Section 1).
The entry into force of IFRS 8 "Operating Segments" had no impact on segment reporting (Part L of the
Notes to Accounts) since the criteria used to prepare the segment reporting, as determined on the basis
of the previous IAS 14 which has now been replaced, are the same as those used to provide information
to the highest operational decision-making level as required by the new standard.
The adoption of the other standards and interpretations cited also had no effect on the balance sheet or
income statement of the consolidated financial statements.