160 / 278
CONSOLIDATED FINANCIAL REPORT | EXPLANATORY NOTES
160
IFRIC 21 - Levies
, an interpretation of
IAS 37 - Provisions, Contingent Liabilities and Contingent
Assets
. The interpretation, which addresses the recognition of liabilities for the payment of taxes
other than income taxes, provides guidance on identifying the event that gives rise to the obligation
and when to recognise the liability. Its application has not entailed any significant changes for the
Group.
Annual Improvements 2011-2013
, part of the programme of annual improvements to standards,
effective from 1 January 2015. Their application has not entailed any significant changes for the
Group.
B.4 ACCOUNTING STANDARDS, AMENDMENTS AND INTERPRETATIONS NOT YET APPLICABLE AND
NOT ADOPTED EARLY BY THE GROUP
On 21 November 2013, the IASB published an amendment to
IAS 19 - Employee Contributions
with the aim
of providing more information about the accounting treatment of pension plans which require plan
participants to pay in contributions. This amendment is applicable to financial years beginning on or after 1
February 2015.
On 12 December 2013, the IASB published the documents
Annual Improvements 2010-2012
and
Annual
Improvements 2011-2013
as part of its programme of annual improvements to its standards; most of the
changes involve clarifications or corrections to existing IFRSs or amendments resulting from other previous
changes to IFRSs. The
Annual Improvements 2010-2012
are applicable retrospectively to financial years
beginning on or after 1 February 2015.
On 6 May 2014, the IASB issued amendments to
IFRS 11 - Joint Arrangements
to provide guidance on how
to account for the acquisition of an interest in a joint operation that constitutes a business. These
amendments are applicable retrospectively to financial years beginning on or after 1 January 2016.
On 13 May 2014, the IASB published amendments to
IAS 16 - Property, Plant and Equipment
and
IAS 38 -
Intangible Assets
to provide guidance on acceptable methods of depreciation and amortisation. In particular,
the amendments clarify that revenue-based methods to calculate depreciation or amortisation are applicable
only in limited circumstances. These amendments are applicable retrospectively to financial years beginning
on or after 1 January 2016.
On 29 May 2014, the IASB issued
IFRS 15 - Revenue from Contracts with Customers
with the aim of
improving the quality and uniformity of revenue reporting. The publication of this standard is part of the
convergence project with the FASB to improve the comparability of financial statements.
The objective of the standard is to provide a framework for determining when to recognise revenue and how
much revenue to recognise. The standard therefore defines the following steps to follow for the recognition of
revenue: