Porsche 2005 Annual Report Download - page 124

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122
Amendments to IAS 39 “Financial Instruments: Recognition and Measurement” and IFRS 4 “Insurance
Contracts” – financial guarantees and loan commitments:
Following the revision of IAS 39 and IFRS 4, financial guarantees fall under the scope of IAS 39 only.
In the past, financial guarantees had been subject - depending on their structure – either to IAS 39 or to
IFRS 4. The amendments are applicable for fiscal years beginning on or after January 1, 2006.
IFRS 6 “Exploration for and Evaluation of Mineral Resources” and amendments to IFRS 1 and IFRS 6:
These amendments are applicable for the first time for fiscal years beginning on or after January 1,2006.
IFRIC 4 “Determining whether an Arrangement contains a Lease” and IFRIC 5 “Rights to Interests
Arising from Decommissioning, Restoration and Environmental Rehabilitation Funds”:
These interpretations are applicable for the first time for fiscal years beginning on or after
January 1, 2006.
IFRIC 6 “Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic
Equipment”:
The interpretation is applicable for fiscal years beginning on or after January 1, 2006.
IFRIC 7 “Applying the Restatement Approach under IAS 29 “Financial Reporting in Hyperinflationary
Economies”:
This interpretation is applicable for the first time for fiscal years beginning on or after January 1, 2007.
IFRIC 8 “Scope of IFRS 2”:
The amendments are applicable for the first time for fiscal years beginning on or after May 1, 2006.
IFRIC 9 “Reassessment of Embedded Derivatives”:
The interpretations are applicable for the first time for fiscal years beginning on or after June 1, 2006.
IFRIC 10 “Interim Financial Report and Impairment”:
This interpretation is applicable for the first time for fiscal years beginning on or after November 1, 2006.
These changes to the accounting principles are not expected to have a major effect on future
consolidated financial statements.