Shaw 2012 Annual Report Download - page 71

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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]
1. CORPORATE INFORMATION
Shaw Communications Inc. (the “Company”) is a diversified Canadian communications
company whose core operating business is providing broadband cable television services,
Internet, Digital Phone and telecommunications services (“Cable”); Direct-to-home (“DTH”)
satellite services (Shaw Direct) and satellite distribution services (“Satellite Services”); and
programming content (through Shaw Media).
The Company was incorporated under the laws of the Province of Alberta on December 9, 1966
under the name Capital Cable Television Co. Ltd. and was subsequently continued under the
Business Corporations Act (Alberta) on March 1, 1984 under the name Shaw Cablesystems Ltd.
Its name was changed to Shaw Communications Inc. on May 12, 1993. The Company’s shares
are listed on the Toronto and New York Stock Exchanges. The registered office of the Company
is located at Suite 900, 630 – 3rd Avenue S.W., Calgary, Alberta, Canada T2P 4L4.
2. BASIS OF PRESENTATION AND ACCOUNTING POLICIES
Statement of compliance
These consolidated financial statements of the Company have been prepared in accordance
with International Financial Reporting Standards (“IFRS”) as issued by the International
Accounting Standards Board (“IASB”). These are the first annual financial statements prepared
under IFRS and IFRS 1 First-time Adoption of International Financial Reporting Standards
(“IFRS 1”) has been applied. An explanation of how the transition to IFRS has affected the
Company’s consolidated financial statements is provided in note 31.
The consolidated financial statements of the Company for the years ended August 31, 2012
and 2011 and as at September 1, 2010, were approved by the Board of Directors and
authorized for issue on November 29, 2012.
Basis of presentation
These consolidated financial statements have been prepared primarily under the historical cost
convention and are expressed in millions of Canadian dollars unless otherwise indicated. Other
measurement bases used are outlined in the applicable notes below. The consolidated
statements of income are presented using the nature classification for expenses.
Basis of consolidation
The consolidated financial statements include the accounts of the Company and those of its
subsidiaries. Intercompany transactions and balances are eliminated on consolidation. The
results of operations of subsidiaries acquired during the period are included from their
respective dates of acquisition.
The accounts also include the Company’s proportionate share of the assets, liabilities,
revenues, and expenses of its interests in joint ventures which includes a 33.33% interest in
the Burrard Landing Lot 2 Holdings Partnership and 50% interest in several specialty television
channels.
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