Shaw 2012 Annual Report Download - page 126

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2012 and 2011
[all amounts in millions of Canadian dollars except share and per share amounts]
restatement of all business combinations that occurred prior to the date of transition. The
Company has elected to not restate any business combinations that occurred prior to
September 1, 2010. Under Canadian GAAP, the Company had early adopted the new
accounting standards for business combinations, consolidation and non-controlling
interests effective September 1, 2010, which are aligned with IFRS 3 Business
Combinations and IAS 27 Consolidated and Separate Financial Statements.
(b) Employee benefits
IFRS 1 provides the option to recognize all cumulative actuarial gains and losses on
defined benefit plans deferred under Canadian GAAP in opening retained earnings. The
Company elected to recognize the cumulative unamortized actuarial loss in opening
retained earnings as at September 1, 2010.
(c) Borrowing costs
IFRS 1 allows IAS 23 Borrowing Costs to be applied prospectively from the date of
transition. The Company has elected to apply IAS 23 prospectively for projects
commenced on or after September 1, 2010.
122