Annual Report 2010 - AdP

(b) recognition and subsequent measuring of contingent payments;
(c) processing of direct costs related to concentration.
• IAS 27 (Amendment) - Consolidated and individual financial statements. The most significant changes are as follows:
- transactions that result in changes in percentage of holdings that do not result in loss of control are recorded as total equity, and
do not have any impact on goodwill, or on gains and losses; when control of a subsidiary is lost:
- all amounts recognized in the comprehensive income for that subsidiary are fully transferred to gains and losses; the retained
holdings are revalued to reflect fair value and this will be taken into account in the gain or loss recorded with its sale.
- the partial reimbursement of a net investment in a foreign subsidiary ceases to result in the reclassification of the transfer of
differences in total equity to gains and losses; the losses of a subsidiary are now distributed among the non-controlled interests
(formerly known as minority interest) even if they exceed the holdings in the subsidiary. As a result of this amendment, the diluted
earnings per share due to a loss will likely be equal to the basic earnings per share.
• IAS 39 (Amendment) - Financial instruments: recognition and measurement - eligible items covered.
• IFRIC 12 - Service concession agreements.
• IFRIC 15 - Building construction agreements.
• IFRIC 17 - Distributions of non-cash assets to owners.
• IFRIC 18 - Transfers of assets from customers.
• Other amendments to the IFRS - Year 2009. The annual IFRS improvement process seeks to deal with the resolution of situations
that need to be improved in order to increase their general understanding, but are not classified as priorities. The IASB approved
15 amendments to 12 standards, some of which are the result of changes in accounting methods, while others are related to
issues of terminology and consistency between standards, with minimum impacts. The European Union endorsed these amendments
in March 2010. In terms of the process for improvements in 2008, the amendment to IFRS 5 (clarification regarding the treatment
of a subsidiary held for sale) only came into force on 1 January 2010.
Finally, the provisions of the standards and interpretations that are obligatory only in the future were not adopted, and are as follows:
Already endorsed by the EU:
• IFRS 1 (Amendment) - Exceptions to disclosure of comparatives required by IFRS 7 upon adopting IFRS for the first time;
• IFRS 24 (Revised) - Transactions with related parties;
• IAS 32 (Amendment) - Clarification of issue rights;
• IFRIC 14 (Amendment) - Advances related to minimum financing requirements.
• IFRIC 19 - Extinction of financial liabilities with Total Equity instruments.
Not yet endorsed by the EU:
• IFRS 9 - Financial instruments (introduce new classification requirements and measurement of financial assets). This issue is part
of a phased project of revision and gradual replacement of IAS 39 in order to reduce the complexity of its application; The main
changes are the following in terms of classification and measurement:
- the number of categories of financial assets has been reduced; the requirements for separating embedded derivatives have been eliminated;
- reclassification restrictions have been eliminated; classification of assets is to follow the business model in which the assets are
incorporated, also taking into account the characteristics of the instruments;
- the differences in fair value in total equity instruments considered strategic are to be recorded under reserves without being
included in results, even in situations of impairment or sale;
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