Shaw 2013 Annual Report Download - page 83

S
haw
C
ommunications Inc
.
N
O
TE
S
T
OCO
N
SO
LIDATED FINAN
C
IAL
S
TATEMENT
S
August 31, 2013 and 201
2
[all amounts in millions of Canadian dollars exce
p
t share and
p
er share amounts
]
and liabilities to be presented in the statement of other comprehensive income. The significant
amendments to IAS 19 which im
p
act the Com
p
an
y
are as follows
:
Š
E
x
p
ected return on
p
lan assets
i
sre
p
laced w
i
th
i
nterest
i
ncome and calculated based on
t
he d
i
scount rate used to measure the pens
i
on obl
i
gat
i
on; the d
iff
erence between
i
nterest
income and actual return on plan assets is recognized in other comprehensive income
Š
I
mmed
i
ate reco
g
n
i
t
i
on o
fp
ast serv
i
ce costs when
p
lan amendments occur re
g
ardless o
f
whether or not they are veste
d
Š
P
lan administration costs, other than costs associated with managing plan assets, are
re
q
uired to be ex
p
ense
d
Š
E
x
p
anded d
i
sclosures
i
nclud
i
n
gp
lan character
i
st
i
cs and r
i
sks ar
i
s
i
n
gf
rom de
fi
ned bene
fit
plans
The Company early adopted the amended standard with retrospective restatement whic
h
resulted in an increase in other lon
g
-term liabilities and decrease in retained earnin
g
sb
y
$1 a
t
August
31
,
2012
and
S
eptember
1
,
2011
. There was no
i
mpact on the
C
ompany’s
consolidated statements of income, comprehensive income or cash flows for 2012
.
(
ii
)
Presentation of Financial Statements
I
AS 1,
P
r
ese
n
tat
i
o
n
o
f Fin
a
n
c
i
a
l
State
m
e
n
ts
,
was amended to require presentation of items o
f
o
ther com
p
rehensive income based on whether the
y
ma
y
be reclassified to the statement o
f
i
ncome and has been a
pp
l
i
ed retros
p
ect
i
vel
y.
(iii)
Income Taxe
s
I
AS 12
,
I
ncome
T
axe
s
(
amended 2011), introduces an exce
p
tion to the
g
eneral measurement
re
q
u
i
rements o
f
IA
S12i
n res
p
ect o
fi
nvestment
p
ro
p
ert
i
es measured at
f
a
i
r value. Th
e
amendment had no impact on the Company’s consolidated financial statements
.
S
tandards, interpretations and amendments to standards issued but not yet e
ff
ectiv
e
The Company has not yet adopted certain standards, interpretations and amendments that have
been issued but are not
y
et effective. The followin
gp
ronouncements are bein
g
assessed t
o
d
eterm
i
ne the
i
r
i
m
p
act on the
C
om
p
an
y
’s results and
fi
nanc
i
al
p
os
i
t
i
on.
Š
I
FR
S9
,
Fi
n
a
n
cia
lIn
st
r
u
m
e
n
ts
:
C
l
assificatio
n
a
n
d
M
easu
r
e
m
e
n
t
,
i
s the
fi
rst part o
f
th
e
replacement of IAS 3
9
F
inancial Instrument
s
a
nd applies to the classification an
d
m
easurement o
ffi
nanc
i
al assets and
fi
nanc
i
al l
i
ab
i
l
i
t
i
es as de
fi
ned b
y
IA
S39
.It
i
s
requ
i
red to be appl
i
ed retrospect
i
vely
f
or the annual per
i
od commenc
i
ng
S
eptember
1,
2
015
.
Š
The followin
g
standards and amended standards are re
q
uired to be a
pp
lied retros
p
ectivel
y
f
or the annual
p
er
i
od commenc
i
n
gS
e
p
tember
1
,
2013
and other than the d
i
sclosure
requirements therein, they must be applied concurrently
:
Š
IFRS 10
,
C
onsolidated Financial Statement
s
,
replaces previous consolidation
g
u
i
dance and outl
i
nes a s
i
n
g
le consol
i
dat
i
on model that
i
dent
ifi
es control as the
b
as
i
s
f
or consol
i
dat
i
on o
f
all types o
f
ent
i
t
i
es.
7
9