Ubisoft 2014 Annual Report Download - page 112

Financial statements
2014
107
guidance
amendments 10,
11 and 12
amendments 10, 11 and 12
guidance amendments and indicate concessions on comparative
information to be presented by limiting adjustments to the prior period.
Investment
entities: IFRS
amendments 10,
12 and IAS 27
Investment entities: IFRS
amendments 10, 12 and IAS 27
These amendments apply to a particular category of companies,
qualified investment entities, which are now exempt from the
provisions of the accounting standard on the consolidated financial
statements, IFRS 10.
This text shall have no effect on the Group's consolidated financial
reports.
IFRIC 21
Levies or taxes (applicable to
financial years beginning on or
after January 1, 2014)
This text clarifies the requirements relating to the recognition of taxes
in the financial statements and, notably, the date on which a liability
associated with the payment of taxes other than income taxes must be
recognized.
This text shall have no effect on the Group’s consolidated financial
statements.
1.6.5 ACCOUNTING PRINCIPLES AND MEASUREMENT METHODS
1.6.5.1 COMPARABILITY OF FINANCIAL STATEMENTS
Change in consolidation method, measurement and presentation
Following the acquisition of 70% of the remaining capital in the company Related Designs Software
GmbH, this company was fully consolidated in the Group’s consolidated financial statements. Up until
March 31, 2013, Related Designs Software GmbH was accounted for under the equity method. There
is no material impact on the comparability of the consolidated annual financial statements. Therefore
no pro forma financial information is required.
Change in estimation
N/A
Other items affecting comparability of financial statements
Business combinations in the 2012/2013 financial year (THQ “Toy Head-Quarters” Montreal) and
business combinations in the 2013/2014 financial year (Future Games of London Ltd) have no
material impact on the comparability of the Group’s financial statements. Therefore no pro forma
financial information is required.
1.6.5.2 PREPARATION BASES
Measurement bases
The consolidated financial statements have been prepared using the historical cost method, with the
exception of the following assets and liabilities, which are measured at fair value: derivatives, financial
instruments held for trading and available-for-sale financial assets.
Operating and presentation currency
The consolidated financial statements are presented in euros, which is the parent company's
operating currency. All financial data presented in euros are rounded to the nearest thousand.
Use of estimates
Preparation of consolidated financial statements in accordance with IFRS requires the Group’s
management to make estimates and assumptions that affect the application of the accounting
methods and the amounts recognized in the financial statements.
These estimates and the underlying assumptions are established and reviewed continuously on the
basis of past experience and other factors considered reasonable in light of the circumstances. They
therefore serve as a basis for the calculation of the carrying amounts of assets and liabilities that
cannot be obtained from other sources. Actual values may differ from estimates.