Airbus 2015 Annual Report Download - page 201

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 19 l
Notes to the IFRSConsolidatedFinancialStatements
2.
2.2 Group Structure
providing evidence that control of a good or service has
transferred to the customer are met. In certain circumstances,
the standard considers work in progress to be controlled by
the customer, in which case it would be inappropriate for an
entity to recognise work in progress as an asset on its balance
sheet. Furthermore, the standard requires an entity to accrue
interest on advance payments if the contract with the customer
contains a significant financing component.
The Group is currently assessing the impact of these and
other accounting changes that will arise under IFRS15. It has,
however, identified the changes highlighted above as potentially
creating a material impact on the Group’s Consolidated Income
Statement and Consolidated Statement of Financial Position.
2.2 Group Structure
5. Scope of Consolidation
Consolidation — The Group’s Consolidated Financial
Statements include the financial statements of AirbusGroup
SE and all material subsidiaries controlled by the Group. The
Group’s subsidiaries prepare their financial statements at the
same reporting date as the Group’s Consolidated Financial
Statements (see Appendix “Simplified Group Structure Chart”).
Subsidiaries are entities controlled by the Group including
so-called Structured Entities (“SE”) which are created to
accomplish a narrow and well-defined objective (see Note25
“Sales financing transactions”). They are fully consolidated from
the date control commences to the date control ceases.
The assessment of the control of SE is performed in three steps.
In a first step, the Group identifies the relevant activities of the
SE (which may include managing lease receivables, managing
the sale or re-lease at the end of the lease and managing the
sale or re-lease on default) and in a second step, the Group
assesses which activity is expected to have the most significant
impact on the SE’s return. Finally, the Group determines which
party or parties control this activity.
The Group’s interests in equity-accounted investees
comprise investments in associates and joint ventures.
Investments in associates and in joint ventures are accounted
for using the equity method and are initially recognised at cost.
The financial statements of the Group’s investments in
associates and joint ventures are generally prepared for the
same reporting period as for the parent company. Adjustments
are made where necessary to bring the accounting policies and
accounting periods in line with those of the Group.
PERIMETER OF CONSOLIDATION
Number of companies
31December
2015 2014
Fully consolidated entities 262 286
Investments accounted for using the equity method:
 in joint ventures 53 50
 in associates 19 17
Total 334 353
For more details related to unconsolidated and consolidated SE, please refer to Note25 “Sales financing transactions”.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015
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