DHL 2015 Annual Report Download - page 148

Deutsche Post  Group —  Annual Report
New accounting requirements not yet adopted by the 
( endorsement procedure)
e  and the  issued further Standards, amendments to
Standards and Interpretations in nancial year  and in previous
years whose application is not yet mandatory for nancial year .
e application of these s is dependent on their adoption by
the.
Effective for
financial years
beginning on
orafter Subject matter and significance
Standard
(Issue date)
 , Financial Instruments
( July )
1 January 2018   contains requirements governing the recognition and measurement of financial instruments, derecognition and hedge
accounting. It thus replaces the previously applicable  . Initial application is in principle retrospective, although transition
relief is provided. In future, financial assets and liabilities must be classified on the basis of the business model in which they
areheld and their cash flow characteristics. The reclassification of financial instruments, particularly financial assets, will not
have a material effect on the consolidated financial statements. The change in the recognition of impairment losses from the
incurred loss model to the expected loss model will have a one-time effect. However, this effect is unlikely to be significant, as
the majority of the financial assets are trade receivables, for which the full lifetime expected loss model (simplified approach)
willin future apply. Customer credit quality will directly impact the impairment process in the future. Any fluctuations will be
directly reflected in net income.   will also more closely align hedge accounting with risk management objectives. Inparticular,
the new requirements on hedging individual risk components, which are applicable for both non-financial and financial items,
willconsiderably simplify the designation and presentation of hedging relationships. The range of hedged items permitted will
in future be extended to cover combinations of derivative and non-derivative financial instruments, and parts or tranches of
individual financial and non-financial items. The requirements for assessing hedge effectiveness, rebalancing hedgingrelation-
ships and the de-designation of hedging relationships will also be simplified. Overall, the new hedge accounting requirements
will result in greater flexibility with regard to hedging individual risks. They are not expected to have a material effect on the
Group’s results. The new requirements will more transparently reflect the risk management approach of Deutsche Post  Group.
 , Revenue from
Contracts with Customers
( May ) including the
amendment to  
( September )
1 January 2018 This standard will in future replace the existing requirements governing revenue recognition under   Revenue and  
Construction Contracts. The new standard establishes uniform requirements regarding the amount, time and time period of
revenue recognition, which are applicable for all sectors and for all categories of revenue transaction. The standard provides a
principle- based five-step model that must be applied to all contracts with customers. It also introduces extensive disclosure
requirements.The requirements must in principle be applied retrospectively. The effects on the consolidated financial statements
are being reviewed.
 , Leases
( January )
1 January 2019   replaces the existing standard on accounting for leases,  , and the interpretations  , - and -.  
requires lessees to adopt a completely new approach to the presentation of leases. In future, assets must be recognised for
theright of use received and liabilities must be recognised for the payment obligations entered into for all leases. Exemptions
are provided for low-value lease assets and short-term leases. In contrast, the accounting requirements for lessors remain largely
unchanged, particularly with regard to the continued requirement to classify leases. The standard must be applied for the first
time for reporting periods beginning on or after  January . Voluntary early application is permitted, provided that   is
also applied. The Group is currently reviewing and assessing its existing leases. With regard to the financial obligations reported
as operating lease liabilities under Note , application of the standard will have a material effect on the consolidated financial
statements. In particular, it will result in an increase in total assets and liabilities.
Amendments to  ,
IncomeTaxes: Recognition
ofDeferred Tax Assets
forUnrealised Losses
( January )
1 January 2017 The amendment of   clarifies that unrealised losses on debt instruments measured at fair value result in deductibletempor-
ary differences. It also clarifies that an assessment must be made for the aggregate of all deductible temporary differences
ofwhether it is probable that sucient taxable income will be available in future to allow the temporary differences to be used
and recognised. Rules and examples supplementing   clarify how future taxable income is to be determined for recognition
ofdeferred tax assets. The effects on the Group will be immaterial.
Amendments to  ,
Statement of Cash Flows
( January )
1 January 2017 The amendments provide clarifications regarding an entity’s financing activities. Their objective is to make it easier for users
offinancial statements to assess an entity’s financial liabilities. The effects on the consolidated financial statements are being
reviewed.
The following are not relevant for the consolidated financial statements:
 , Regulatory Deferral Accounts; amendments to   and  , Sale or Contributions of Assets between an Investor and its Associate / Joint Venture;
amendmentsto ,   and  , Investment Entities:Applying the Consolidation Exception.
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