Annual Report 2009/10 Excellence in Retailing - Douglas Holding

public sector have been expanded. These amendments are to be applied for annual periods
beginning on or after January 1, 2011. The EU Commission already recognized these
revisions in July 2010.
IAS 32 “Financial Instruments: Presentation”
As part of the amendments made to IAS 32, special requirements were established for puttable
instruments. The amended IAS 32 is to be applied for annual periods beginning on or
after February 1, 2010. The EU Commission recognized this amendment in December 2009.
IFRIC 14 “IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements
and their Interaction”
As part of these amendments, unintended consequences incurred from the accounting
advance payments related to minimum funding requirements have been eliminated. This
amended interpretation is to be applied for annual periods beginning on or after January
1, 2011. The EU Commission recognized this amendment in July 2010.
IFRIC 15 “Agreements for the Construction of Real Estate”
IFRIC 15 addresses the issue of revenue recognition for construction contracts and is to
be applied for annual periods beginning on or after January 1, 2010. The EU Commission
recognized this interpretation on July 22, 2009 as part of the Endorsement proceedings.
IFRIC 17 “Distributions of Non-cash Assets to Owners”
IFRIC 17 clarifies topics such as how companies should measure other assets as cash
equivalents that have been transferred as dividends to the shareholders. This interpretation
is to be applied for annual periods beginning on or after November 1, 2009. The
EU Commission recognized this interpretation in November 2009 as part of the Endorsement
proceedings.
IFRIC 18 “Transfers of Assets from Customers”
IFRIC 18 clarifies the accounting of agreements in which a company receives from a
customer an item of property, plant and equipment that the company must then use either
to connect the customer to a network or to provide the customer with ongoing access
to a supply of goods or services (such as a supply of electricity, water or gas). This interpretation
is to be applied for annual periods beginning on or after November 1, 2009. The
EU Commission has not yet endorsed this interpretation in November 2009 as part of the
Endorsement proceedings.
IFRIC 19 “Extinguishing Financial Liabilities with Equity Instruments”
This new interpretation presents detailed accounting treatment by an entity that issues
equity instruments in order to settle, in full or in part, a financial liability in relation
to the rules stipulated under IAS 39. This interpretation is to be applied for annual periods
beginning on or after July 1, 2010. The EU Commission recognized this interpretation
in July 2010.
Furthermore, the IASB made minor changes to the standards shown below as part of
the Annual Improvement Process for 2009. These changes are almost all to be applied for
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
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