Annual Report 2009/10 Excellence in Retailing - Douglas Holding

120 Financial statements
Facts & figures
Consolidated income statement
Consolidated balance sheet
Statement of changes in Group equity
Segment reporting
Consolidated Cash Flow statement
Notes
Notes to the income statement
Notes to the balance sheet
Auditor’s report
IFRS 2 “Share based-Payment – Vesting Conditions and Cancellations”
These amendments issued in January 2008 mainly contain modifications to the definitions
of exercise conditions and rules for the annulment of a plan by third parties. The
revised standard is to be applied to annual periods beginning on or after January 1, 2009
and has been recognized by the EU Commission as part of the Endorsement proceedings.
IFRS 3 “Business Combinations”
As part of the revisions made to IFRS 3, the rules for the accounting of business combinations
were amended. The amended Standard gives companies an election to measure
the shares of non-controlling shareholders at Fair Value or the allocable net assets. Depending
on the method applied, the goodwill arising from the initial consolidation of the
newly acquired business is recognized either fully or according to the allocable majority
shareholder’s share. Moreover, the rules for step acquisition have been modified. These
new regulations have already been applied for the purchase of the shares of buch.de internetstores
AG. The revisions are to be applied to annual periods beginning on or after
July 1, 2009. These revisions have been endorsed by the EU Commission as part of the Endorsement
proceedings.
IFRS 7 “Financial Instruments”
As part of the revised standards, the IASB prescribes expanded disclosures for the measurement
of financial instruments at Fair Value and for liquidity reserves. These revisions
are to be applied for annual periods beginning on or after January 1, 2009. These revisions
were endorsed by the EU Commission in November 2008.
IFRS 8 “Operating Segments”
On November 30, 2006, the IASB published IFRS 8, which is to replace the existing
IAS 14 (Segment Reporting) for annual periods beginning on or after January 1, 2009.
The standard was endorsed by the EU Commission on November 21, 2007 as part of the
Endorsement proceedings. IFRS 8 follows the management approach, which means that
segment reporting must be based on the information used internally by management.
The DOUGLAS Group applied the rules under IFRS 8 for the first time in the fiscal year
2009/10. Reaching beyond the current presentation of the segments, the Services division
of the DOUGLAS Group is presented separately from the reconciliation column. The Segment
Assets shown contain non-current assets that are neither attributable to tax positions
or to financial assets. The relevant segment values for the 2008/09 fiscal year were
accordingly adjusted to assure comparability.
IAS 1 “Presentation of Financial Statements” – Revised Presentation
The amendments made to IAS 1 in September 2007 relate to the renaming of certain
sections of the IFRS financial statements and the presentation in the income statement and
changes to equity statement. The revised standard is to be applied for annual periods beginning
on or after January 1, 2009. This revised standard was endorsed by the EU Commission
in December 2008 as part of the Endorsement proceedings. As a consequence of the amendments
to IAS 1, the income statement was supplemented by a reconciliation for other comprehensive
income. As part of this reconciliation, components shown directly to equity are listed
and combined with the net income for the period to arrive at total comprehensive income.