Ubisoft 2008 Annual Report Download - page 138

136
UBISOFTANNUAL REPORT 2009
STANDARD CONSEQUENCES FOR THE GROUP
IAS 32
amendments
Financial instruments
puttable at fair value
and obligations arising
on liquidation
(applicable to
accounting periods
starting from
January 1, 2009)
Financial instruments puttable at fair value and obligations arising on liquidation
will be classied as equity and not liabilities if certain conditions are met. This
text does not cover rm or conditional commitments to purchase minority
interests.
To date, the Group does not hold any of these nancial instruments and is therefore
not concerned by the standard.
Revised IAS 39 Instruments eligible
for hedge accounting
(applicable to
accounting periods
starting from
January 1, 2010)
This text species that time value must not be taken into account in a hedging
relationship and that ination may only be classed as a hedged item under
certain conditions.
This text will have no effect on the Group's consolidated nancial reports.
IFRIC 13 "Customer loyalty
programmes"
(applicable to
accounting periods
starting from
July 1, 2008)
This standard covers accounting by entities that run, or in any other way take
part in, customer loyalty programmes through which customers may use credits
to acquire products or services free of charge or at a discount.
IFRIC 13, which will necessarily apply to the Group's consolidated nancial
reports as of March 31, 2010, will have no impact on these nancial reports.
IFRIC 16 Hedging of a net
investment
(applicable to
accounting periods
starting from
January 1, 2009)
This text claries certain net investment hedge principles:
• the hedged item may only be a translation difference between two operating
currencies, for an amount less than the net investment's carrying amount,
and it may be hedged just once.
• the hedging instrument may be located at any group entity except the foreign
entity subject to the hedging;
• the income generated from the hedge, initially recorded under equity, must
be reclassied into income when the net investment is disposed-of.
This text is unlikely to have any effect on the Group's consolidated accounts.
IFRIC 17 Distribution of non-cash
assets to owners
(applicable to periods
starting from
January 1, 2010)
This text species the accounting treatment of distributions of dividends in kind
(excluding distributions under joint control): the fair value of assets distributed
must be recognised as a payable on the date of the decision to distribute, while
the difference from the net carrying amount of distributed assets must be booked
in income on the date of distribution.
Application of this standard is mandatory for distributions in periods beginning
after 1 July 2009, i.e. FY 2010 for the group. Consequently, there will be no impact
on previous periods shown in the Group's consolidated nancial statements for
2010.