Porsche 2009 Annual Report Download - page 168

168 Financials
Amendments to IFRS 2 “Share-based Payment”
The amendment clarifies that only service and performance conditions constitute vesting
conditions. The amendment also provides that the rulings on premature termination apply regard-
less of whether the share-based payment plan is terminated by the company or another party.
Amendments to IAS 39 “Financial Instruments: Recognition and Measurement – Eligible Hedge Items”
This amendment specifies how the principles contained in IAS 39 are to be applied for the
hedge accounting in two specific situations. These are the unilateral risk with reference to a hedged
transaction (e.g. the risk of changes in the fair value or cash flows above or below a fixed price or
another variable) and the risk of inflation in a financially hedged transaction.
IAS 39 “Financial Instruments: Recognition and Measurement – Reclassification of Financial Assets –
Effective Date and Transition”
The amendment provides adjusted transitional rulings relating to the possibility of reclassi-
fying financial assets.
Amendment to IAS 32 “Financial Instruments: Presentation” and IAS 1 “Presentation of Financial
Statements”
The amendment mainly refers to the conditions for the classification of cancellable instru-
ments as equity or debt capital.
Amendments to IFRIC 9 “Reassessment of Embedded Derivatives” and IAS 39 “Financial Instruments:
Recognition and Measurement”
An entity has to check whether a derivative embedded in a host contract can be separated
if the whole hybrid instrument has been reclassified from the category at fair value through profit
and loss in accordance with the amendments to IAS 39 from October 2008. If the derivative has to
be accounted for separately but its fair value cannot be reliably determined or an entity cannot
perform the necessary assessment, the entire hybrid instrument has to remain in the category
financial instruments at fair value through profit and loss.
Annual improvements project II
The International Accounting Standards Board (IASB) published the “Improvements to IFRSs”
in April 2009. Most of the amendments are clarifications or corrections to existing IFRSs or chan-
ges resulting from modifications already made to IFRSs. Some of the clarifications and corrections
are applicable to the consolidated financial statements for 2009/10 on account of their specific
transitional requirements.