Porsche 2009 Annual Report Download - page 169

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c) The following standards and interpretations, which have been published but
whose adoption is not yet mandatory or which are not applicable in the EU, have
not yet been adopted
IFRS 9 “Financial Instruments”
IFRS 9 revises the classification and measurement of financial instruments, providing for on-
ly two measurement categories for financial assets in future: at amortized cost and at fair value.
The rules are effective retrospectively for the first time for reporting periods beginning on or after
1 January 2013. Porsche SE is in the process of analyzing the resulting effects on the presentation
of net assets, financial position and results of operations as well as on cash flows.
IAS 24 “Related Party Disclosures” and IFRS 8 “Operating Segments”
The revised IAS 24 contains revised definitions of related parties and eliminates any incon-
sistencies. In addition, it introduces new disclosure requirements for entities that are controlled or
significantly influenced by a government in their relationship to other entities controlled or signifi-
cantly influenced by the same government. The changes are effective retrospectively for the first
time for reporting periods beginning on or after 1 January 2011. These new rules are not expected
to have any significant effect on the presentation of the group’s net assets, financial position and
results of operations or on its cash flows.
Annual improvements project III
The IASB published the “Improvements to IFRSs 2008-2010” on 6 May 2010. This standard
contains changes to six International Financial Reporting Standards (IFRSs) and one interpretation
(IFRIC). Unless stated otherwise in the standard, the amendments are effective for reporting periods
beginning on or after 1 January 2011. Porsche SE is analyzing the resulting effects on the consoli-
dated financial statements.
Amendments to IFRIC 14 “IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding
Requirements and their Interaction”
The amendments to IFRIC 14 are relevant in the rare event that an entity is subject to mini-
mum funding requirements and makes prepayments to satisfy these minimum funding requirements.
The amendment allows entities to recognize the economic benefit from such prepayment as an
asset. These new rules are effective retrospectively for the first time in fiscal years beginning on or
after 1 January 2011 and are not expected to have any significant effect on the presentation of the
group’s net assets, financial position and results of operations or its cash flows.