DHL 2014 Annual Report Download - page 152

Effective for
financial years
beginning
on or after Subject matter and significance
Standard
(Issue date)
Amendments to  
(Joint Arrangements –
Acquisition of Interests
in Joint Operations)
( May )
1 January 2016 The amendment clarifies that the acquisition and additional acquisition of interests in joint operations in which the activity
constitutes a business, as defined in   (Business Combinations), must be recognised in accordance with the principles
governing business combinations accounting in   and other  s, with the exception of those principles that conflict
with the requirements of  . The amendments do not apply if the reporting entity and the other parties involved are
under the common control of the same ultimate controlling party. The new requirements are applicable prospectively
for interests acquired in reporting periods beginning on or after  January . Voluntary earlier application is permitted.
Theeffects on the Group are currently being reviewed.
Amendments to  
(Property, Plant and
Equipment) and  
( Intangible Assets):
Clarification of Acceptable
Methods of Depreciation
andAmortisation
( May )
1 January 2016 The amendments expand the existing requirements relating to the permitted depreciation and amortisation methods for
intangible assets and for property, plant and equipment. The amendments specify that revenue-based depreciation and
amortisation methods are not permitted for property, plant and equipment and may only be used for intangible assets in
certain exceptional circumstances. In addition, the amendments clarify that a reduction in the selling price of goods and
services could signal obsolescence, which could in turn reflect a reduction in the economic benefits available from the asset.
The requirements are applicable prospectively. Voluntary early application is permitted. The effects on the consolidated
financial statements are currently being reviewed.
Annual Improvements
to s – Cycle
( September )
1 January 2016 The annual improvement process refers to the following standards:  ,  ,  ,  . Application of the new
requirements is mandatory for reporting periods beginning on or after  January . The amendments will not have
a significant influence on the consolidated financial statements.
Amendments to  
(Presentation of Financial
Statements)
( December )
1 January 2016 The changes comprise clarifications relating to the materiality of the items presented in the balance sheet, the statement
ofcomprehensive income, the cash flow statement, the statement of changes in equity and the disclosures in the notes.
Information that is not material need not be presented. This applies even if disclosure is explicitly required in other standards.
In addition, the revised version of   includes new rules or clarifications of existing requirements concerning the presenta-
tion of subtotals, the structure of the notes and the disclosures on accounting policies. The presentation of the interest in
equity-accounted investments in other comprehensive income is also clarified. The amendments will not have a significant
effect on the financial statements.
The following are not relevant for the consolidated financial statements:
  (Regulatory Deferral Accounts), issued on  January  and effective for financial years beginning on or after  January ; amendments to   ( Property,
Plantand Equipment) and   (Agriculture): Bearer Plants, issued on  June  and effective for financial years beginning on or after  January ; amendments
to (Equity Method in Separate Financial Statements), issued on  August  and effective for financial years beginning on or after  January ; amendments
to  ( Consolidated Financial Statements) and   (Investments in Associates and Joint Ventures), issued on  September  and effective for financial years
beginning on or after  January . Amendments to  ,   and  , Investment Entities: Applying the Consolidation Exception, issued on  December 
and effective for financial years beginning on or after  January .
 Currency translation
e nancial statements of consolidated companies prepared in
foreign currencies are translated into euros  in accordance with
  using the functional currency method. e functional cur-
rency of foreign companies is determined by the primary economic
environment in which they mainly generate and use cash. Within
the Group, the functional currency is predominantly the local cur-
rency. In the consolidated nancial statements, assets and liabil-
ities are therefore translated at the closing rates, whilst periodic in-
come and expenses are generally translated at the monthly closing
rates. e resulting currency translation dierences are recognised
in other comprehensive income. In nancial year , currency
translation dierences amounting to  million (previous year,
adjusted: – million) were recognised in other comprehensive
income (see the statement of comprehensive income and statement
of changes in equity).
Goodwill arising from business combinations aer  Janu-
ary  is treated as an asset of the acquired company and there-
fore carried in the functional currency of the acquired company.
e exchange rates for the currencies that are signicant for
the Group were as follows:
Closing rates Average rates
Currency Country
2013
EUR 1 =
2014
EUR 1 =
2013
EUR 1 =
2014
EUR 1 =
 Australia 1.5408 1.4823 1.3769 1.4729
 China 8.3411 7.5389 8.1670 8.1891
  0.8332 0.7789 0.8492 0.8064
 Japan 144.6070 145.1930 129.6521 140.3815
 Sweden 8.8682 9.3797 8.6511 9.1000
 Switzerland 1.2269 1.2025 1.2308 1.2146
  1.3778 1.2148 1.3284 1.3291
Deutsche Post  Group —  Annual Report
146