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ePaper created 2015-05-06, 08:22:31 | version 1.38.0
52 Amendments to IAS 27 – ‘Separate Financial Statements’: When IFRS 10 ‘Consolidated Financial Statements’ was adopted, the provisions for the control principle and the requirements for preparing consolidated financial statements were removed from IAS 27 and dealt with definitively in IFRS 10 (see comments about IFRS 10). As a result, IAS 27 only includes provisions concerning the account- ing treatment of subsidiaries, joint ventures, and associates in separate financial statements prepared in accordance with IFRS. The amendments must be applied for the first time in annual periods commencing on or after January 1, 2014. They have no impact on the Heraeus Group’s consolidat- ed financial statements. Amendments to IAS 28 – ‘Investments in Associates and Joint Ventures’: When IFRS 11 ‘Joint Arrange- ments’ was adopted, changes were also made to IAS 28, which – as in the past – still covers the use of the equity method. However, the adoption of IFRS 11 significantly increased its scope, be- cause investments in associates as well as in joint ventures (see IFRS 11) will have to be accounted for under the equity method in the future. A further amendment affects the accounting treatment under IFRS 5 if merely part of an investment in an associate or joint venture is intended for sale. IFRS 5 applies to the share of the investment that is to be sold, while the remaining (unsold) invest- ment continues to be accounted for under the equity method until the sale of the other portion. The amendments must be applied for the first time in annual periods commencing on or after January 1, 2014. For Heraeus, they do not have any impact on the consolidated financial statements. Amendments to IAS 32 – ‘Offsetting Financial Assets and Financial Liabilities’: This supplement to IAS 32 clarifies the requirements for offsetting financial instruments. The supplement explains the meaning of the current right of offset and clarifies which gross settlement procedures can be regarded as net settlements as defined by the standard. The amendments to IAS 32 must be applied for the first time in annual periods commencing on or after January 1, 2014. For Heraeus, they do not have any impact on the consolidated financial statements. Amendments to IAS 36 – ’Recoverable Amount Disclosures for Non-Financial Assets’: Following a conse- quential amendment arising from IFRS 13 ’Fair Value Measurement’, a new mandatory requirement to disclose goodwill impairment testing in accordance with IAS 36 has been introduced. The recover- able amount of cash-generating units must be disclosed, regardless of whether or not an impairment loss has been recognized. Because this disclosure in the notes was introduced unintentionally, it has been removed by this amendment dated May 2013. However, this amendment gives rise to additional disclosures required when an impairment loss has actually been recognized and the recoverable amount has been determined on the basis of fair value. The amendments must be applied for the first time in annual periods commencing on or after January 1, 2014. For Heraeus, they do not have any impact on the consolidated financial statements.