Audi 2015 Annual Report Download - page 227

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
GENERAL INFORMATION
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Standard/Interpretation Published
by the IASB
Mandatory
application 1) Endorsed by the EU
Prospective Effects
IFRS 9 Financial Instruments July 24, 2014 Jan. 1, 2018 No Modified reporting of fair value
changes relating to financial
instruments previously categorized
as available for sale, the tendency
for increased risk provisions as a
result of the expected loss model
when compared to the incurred loss
model as previously used,
extension of designation options
for hedge accounting, simpler
reviews of effectiveness, extension
of disclosures
IFRS 10 and
IAS 28
Consolidated Financial Statements and
Investments in Associates and Joint
Ventures:
Sale or Contribution of Assets between
an Investor and its Associate or Joint
Venture
Sept. 11, 2014 Postponed 2) No None
IFRS 10,
IFRS 12 and
IAS 28
Consolidated Financial Statements and
Investments in Associates and Joint
Ventures:
Consolidation Exemptions for
Investment Entities
Dec. 18, 2014 Jan. 1, 2017 No None
IFRS 11 Joint Arrangements: Accounting for
Acquisitions of Interests in Joint
Operations
May 6, 2014 Jan. 1, 2016 Yes None
IFRS 14 Regulatory Deferral Accruals Jan. 30, 2014 none 3) No None
IFRS 15 Revenue from Contracts with
Customers
May 28, 2014 Jan. 1, 2018 4) No No significant impacts on revenue
recognition, notes to the financial
statements
IFRS 16 Leases Jan. 13, 2016 Jan. 1, 2019 No For the lessee, leasing relationships
are not classified as finance and
operate leases but they are always
recorded as a right of use and a leasing
liability in the Balance Sheet. No
significant changes to the lessor’s
balance sheet in comparison with
IAS 17. Notes to the financial
statements.
IAS 1 Presentation of Financial Statements Dec. 18, 2014 Jan. 1, 2016 Yes No material impact
IAS 7 Statement of Cash Flows:
Disclosures
Jan. 29, 2016 Jan. 1, 2017 No Preparing a reconciliation statement
for liabilities from financing activities,
disclosure of information about
liquidity constraints
IAS 12 Income Taxes:
Recognition of Deferred Tax Assets for
Unrealized Losses
Jan. 19, 2016 Jan. 1, 2017 No Recognition of deferred tax assets
relating to debt instruments measured
at fair value
IAS 16 and
IAS 38
Clarification of Acceptable Methods of
Depreciation and Amortization
May 12, 2014 Jan. 1, 2016 Yes No material impact
IAS 16 and
IAS 41
Agriculture:
Bearer Plants
June 30, 2014 Jan. 1, 2016 Yes None
IAS 19 Employee Benefits:
Defined Benefit Plans – Employee
Contributions
Nov. 21, 2013 Jan. 1, 2016 Yes No material impact
IAS 27 Individual Financial Statements:
Equity Method
Aug. 12, 2014 Jan. 1, 2016 Yes None
Improvements to International
Financial Reporting Standards 2012 5) Dec. 12, 2013 Jan. 1, 2016 Yes Essentially extension of disclosures in relation to segment reporting
Improvements to International
Financial Reporting Standards 2014 6) Sept. 25, 2014 Jan. 1, 2016 Yes Extended disclosures pursuant to IFRS 7 likely
1) Mandatory first-time application from the perspective of AUDI AG.
2) Decision made by the IASB on December 15, 2015 to postpone the date of initial application for an indefinite period.
3) Its application is not compulsory from the perspective of AUDI AG, as a consequence of the EU resolution of October 30, 2015 not to incorporate IFRS 14 into EU law.
4) Postponed until January 1, 2018 (Decision made by the IASB on September 11, 2015)
5) Minor changes to a number of IFRS (IFRS 2, IFRS 3, IFRS 8, IFRS 13, IAS 16/38, IAS 24).
6) Minor changes to a number of IFRS (IFRS 5, IFRS 7, IAS 19, IAS 34).