Vodafone 2014 Annual Report Download - page 110

2013 2012
As reported
£m
Adjustments
£m
Restated
£m
As reported
£m
Adjustments
£m
Restated
£m
Consolidated statement of nancial position
Non-current assets 119,411 (2,736) 116,675 119,551 (3,132) 116,419
Current assets 23,287 (1,638) 21,649 20,025 (994) 19,031
Total assets 142,698 (4,374) 138,324 139,576 (4,126) 135,450
Total equity 72,488 – 72,488 78,202 –78,202
Non-current liabilities 38,986 (1,519) 37,467 37,349 (1,724) 35,625
Current liabilities 31,224 (2,855) 28,369 24,025 (2,402) 21,623
Total equity and liabilities 142,698 (4,374) 138,324 139,576 (4,126) 135,450
Consolidated statement of cash ows
Net cash ow from operating activities 10,694 (1,870) 8,824 12,755 (2,458) 10,297
Net cash ow from investing activities (7, 398) 1,652 (5,746) 3,843 2,738 6,581
Net cash ow from nancing activities (2,956) 213 (2,743) (15,369) (300) (15,669)
Net cash ow 340 (5) 335 1,229 (20) 1,209
New accounting pronouncements to be adopted on 1 April 2014
The following pronouncements which are potentially relevant to the Group have been issued by the IASB or the IFRIC, are effective for annual
periods beginning on or after 1 January 2014 and have been endorsed for use in the EU unless otherwise stated:
a Amendment to IAS 32, “Offsetting nancial assets and nancial liabilities”.
a Amendments to IAS 39, “Novation of derivatives and continuation of hedge accounting”.
a “Improvements to IFRS 2010 to 2012 cycle”, elements are effective variously from 1 July 2014 and for annual periods beginning on or after 1 July
2014. All the amendments will be adopted by the Group from 1 April 2014, except an amendment to IFRS 8, “Operating Segments”, which will
be adopted on 1 April 2014. These amendments have not yet been endorsed by the EU.
a IFRIC 21, “Levies”, which has not yet been endorsed by the EU.
For periods commencing on or after 1 April 2014, the Group’s nancial reporting will be presented in accordance with the new standards above
which are not expected to have a material impact on the consolidated results, nancial position or cash ows of the Group.
New accounting pronouncements to be adopted on or after 1 April 2015
On 1 April 2015 the Group will adopt Amendments to IAS 19 “Dened Benet Plans: Employee Contributions” and “Improvements to IFRS 2011–2013
Cycle”, which are both effective for annual periods beginning on or after 1 July 2014. “Accounting for Acquisitions of Interests in Joint Operations,
Amendments to IFRS 11” and “Clarication of Acceptable Methods of Depreciation and Amortisation, Amendment to IAS 16 and IAS 38”, which are
effective for accounting periods on or after 1 January 2016, will be adopted by the Group on 1 April 2016.
Phase I of IFRS 9 “Financial Instruments” was issued in November 2009 and has subsequently been updated and amended. The effective date
of the standard is to be conrmed and has not yet been endorsed for use in the EU. The standard introduces changes to the classication and
measurement of nancial assets, removes the restriction on electing to measure certain nancial liabilities at fair value through the income
statement from initial recognition and requires changes to the presentation of gains and losses relating to fair value changes.
The Group is currently assessing the impact of the above new pronouncements on its results, nancial position and cash ows. None of the new
pronouncements discussed above have been endorsed for use in the EU.
1. Basis of preparation (continued)
Notes to the consolidated nancial statements (continued)
Vodafone Group Plc
Annual Report 2014108