Reebok 2013 Annual Report Download - page 198

8
adidas Group
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2013 Annual Report
Consolidated Financial Statements
194
2013
Notes
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04.8
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The consolidated financial statements of adidas AG as at December 31, 2013 comprise adidas AG and its
subsidiaries and are prepared in compliance with International Financial Reporting Standards (IFRS), as adopted
by the European Union (EU) as at December 31, 2013, and the additional requirements pursuant to § 315a section 1
German Commercial Code (Handelsgesetzbuch – HGB).
The following new standards and interpretations and amendments to existing standards and interpretations
are applicable for the first time for financial years beginning on January 1, 2013:
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IAS 12 Amendment – Deferred Tax: Recovery of Underlying Assets (effective date: January 1, 2013): This
amendment had no impact on the Group’s financial statements.
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IFRS 7 Amendment – Disclosures – Offsetting Financial Assets and Financial Liabilities (effective date:
January 1, 2013): This amendment required additional disclosures in the Group’s financial statements
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SEE RISK
AND OPPORTUNITY REPORT, P. 158.
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IFRS 13 Fair Value Measurement (effective date: January 1, 2013): This new standard required additional
disclosures with respect to the Group’s financial instruments
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SEE NOTE 28.
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IAS 1 Amendment – Presentation of Items of Other Comprehensive Income (effective date: July 1, 2012):
This amendment required a change in the presentation of other comprehensive income within the Consolidated
Statement of Comprehensive Income.
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IAS 19 Employee Benefits – Revised (2011) (effective date: January 1, 2013): This amendment required mainly
additional disclosures with respect to the Group’s defined benefit plans
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SEE NOTE 23.
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IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine (effective date: January 1, 2013): This
interpretation had no impact on the Group’s financial statements.
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Improvements to IFRSs (2011) (effective date: January 1, 2013): These improvements had no material impact
on the Group’s financial statements.
New standards and interpretations and amendments to existing standards and interpretations that will be
effective for financial years beginning after January 1, 2013, and which have not been applied in preparing these
consolidated financial statements are:
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IFRS 10 Consolidated Financial Statements (effective date: January 1, 2014): The Group is currently analysing
the effects of the new standard. At this point in time, no reliable statement can be made whether there will be any
material impact on the Group’s financial statements.
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IFRS 11 Joint Arrangements (effective date: January 1, 2014): This new standard is not expected to have any
material impact on the Group’s financial statements.
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IFRS 12 Disclosure of Interests in Other Entities (effective date: January 1, 2014): This new standard is
expected to require additional disclosures.
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Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities:
Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) (effective date: January 1, 2014): These
amendments are not expected to have any material impact on the Group’s financial statements.
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Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27) (effective date: January 1, 2014): These
amendments are not expected to have any impact on the Group’s financial statements.
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IAS 27 Separate Financial Statements – Revised (2011) (effective date: January 1, 2014): This amendment is
not expected to have any impact on the Group’s financial statements.
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IAS 28 Investments in Associates and Joint Ventures – Revised (2011) (effective date: January 1, 2014): This
amendment is not expected to have any impact on the Group’s financial statements.
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IAS 32 Amendment – Offsetting Financial Assets and Financial Liabilities (effective date: January 1, 2014):
This amendment is not expected to have any material impact on the Group’s financial statements.
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IAS 39 Amendment – Novation of Derivatives and Continuation of Hedge Accounting (effective date: January 1,
2014): This amendment is not expected to have any material impact on the Group’s financial statements.
01
General