BT 2009 Annual Report Download - page 89

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ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS BUSINESS AND FINANCIAL REVIEWS OVERVIEW
FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS
87BT GROUP PLC ANNUAL REPORT & FORM 20-F
FINANCIAL STATEMENTS
IFRIC 17, ‘Distributions of Non-cash Assets to Owners’ (effective
1 April 2010)
IFRIC 17 provides guidance on how an entity should measure
distributions other than cash when it pays dividends to its owners.
The standard requires the dividend payable to be measured at the
fair value of the assets to be distributed, and any difference
between the fair value and the book value of the assets is recorded
in the income statement. The group does not expect adoption of
this guidance to have a significant impact on the group’s financial
statements.
IFRIC 18, ‘Transfers of Assets from Customers’ (effective
1 July 2009)
IFRIC 18 applies to all agreements in which an entity receives from
a customer an item of property, plant and equipment that the
entity must use either to connect the customer to a network or
provide the customer with ongoing access to a supply of goods or
services. IFRIC 18 requires the entity receiving the item of property,
plant and equipment to recognise it in its financial statements if it
meets the definition of an asset. The recognition of the transfer of
the asset is accounted for in accordance with IAS 16, ‘Property,
Plant and Equipment’, and, because an exchange of dissimilar
goods or services has occurred, IAS 18, ‘Revenue’. The group is
currently assessing the impact of the amendment upon the group’s
financial statements.