Audi 2013 Annual Report Download - page 231

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
GENERAL INFORMATION
CONSOLIDATED FINANCIAL STATEMENTS
228
B
The new IFRS 13 for the first time provides general guidance
on fair value measurement in a single standard. However, it does
not have any material effect on the net worth, financial posi-
tion and financial performance disclosed in the Consolidated
Financial Statements of the Audi Group. Additional disclosures
in the Notes are required in accordance with IFRS 13.
The additions to IFRS 7 have also extended reporting require-
ments, with regard to the offsetting of financial assets and
liabilities. The new disclosures apply to all financial instruments
that are offset in accordance with IAS 32 or are not offset but
for which offsetting agreements are nevertheless in place.
The amendments to IAS 36 (2013) “Recoverable amount dis-
closures for non-financial assets,” concerning clarifications and
corrections of unwanted changes in relation to disclosure
obligations on the recoverable amount pursuant to IFRS 13,
were applied earlier than required on a voluntary basis during
the current fiscal year.
The other accounting standards to be applied for the first time
in the 2013 fiscal year have no significant impact on the
presentation of net worth, financial position and financial
performance.
// NEW OR REVISED STANDARDS NOT APPLIED
The following new or revised accounting standards already
approved by the IASB were not applied in the Consolidated
Financial Statements for the 2013 fiscal year because their
application was not yet mandatory:
Standard/Interpretation
the IASB application 1) EU until
Dec. 31, 2013
Effects
IFRS 9 Financial Instruments:
Classification and Measurement
Nov. 12, 2009/
Oct. 28, 2010
To be decided No
as available for sale
IFRS 9 Financial Instruments:
Hedge Accounting
Nov. 19, 2013 To be decided No
simplified effectiveness tests,
extended notes
Financial instruments:
ments with regard to IFRS 9 and IFRS 7
Dec. 16, 2011 To be decided No Extension of disclosures
IFRS 10 Consolidated Financial Statements May 12, 2011 Jan. 1, 2014 Yes None
IFSR 11 Joint Arrangements May 12, 2011 Jan. 1, 2014 Yes None
IFRS 12 Disclosures of Interests in Other Entities May 12, 2011 Jan. 1, 2014 Yes Extended notes on scope of
consolidated companies
Transition Guidance on
IFRS 10, IFRS 11, IFRS 12
June 28, 2012 Jan. 1, 2014 Yes None
Investment Entities
(Amendments to IFRS 10, IFRS 12, IAS 27)
Oct. 31, 2012 Jan. 1, 2014 Yes None
IFRS 14 Regulatory accruals and deferrals Jan. 30, 2014 Jan. 1, 2016 No None
IAS 19 Employee benefits: defined benefit plans –
contributions from employees
Nov. 21, 2013 Jan. 1, 2015 No No material impact
IAS 27 Separate Financial Statements May 12, 2011 Jan. 1, 2014 Yes None
IAS 28 Investments in Associates and
Joint Ventures
May 12, 2011 Jan. 1, 2014 Yes None
IAS 32 Financial Instruments: Presentation –
Financial Liabilities
Dec. 16, 2011 Jan. 1, 2014 Yes No material impact
IAS 39 Novation of derivatives and
continuation of hedge accounting
June 27, 2013 Jan. 1, 2014 Yes None
IFRIC 21
government organizations
May 20, 2013 Jan. 1, 2014 No None
Improvements to International Financial
Reporting Standards 2012 2) Dec. 10, 2013 Jul. 1, 2014 3) No No material impact
Improvements to International Financial
Reporting Standards 2013 4) Dec. 10, 2013 Jan. 1, 2015 No No material impact
1) Mandatory first-time application from the perspective of AUDI AG.
2) Minor changes to a number of IFRS (IFRS 2, IFRS 3, IFRS 8, IFRS 13, IAS 16/38, IAS 24).
3) This relates to the first-time application of the changes to IFRS 2 and IFRS 3; the changes to IFRS 8, IAS 16, IAS 24 and IAS 38 must be applied from January 1, 2015.
4) Minor revisions to a number of IFRS (IFRS 1, IFRS 3, IFRS 13, IAS 40).