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IFRS disclosure checklist 2009

IFRS

disclosure checklist 2009

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Presentation of income under IFRSTrends in use and presentation of non-GAAP income measures in IFRS financial statements.

IFRS: The European investors’ viewImpact of IFRS reporting on fund managers’ perceptions of value and their investment decisions.

Joining the dots – survey of narrative reporting practicesSurvey of the quality of narrative reporting among FTSE 350 companies, identifying where action is needed in the next reporting cycle for companies to gain a competitive edge and help restore trust in this tough economic environment.

Recasting the reporting modelSurvey of corporate entities and investors, and PwC insights on how to simplify and enhance communications.

Measuring assets and liabilitiesSurvey of investment professionals, looking at their use of the balance sheet in analysing performance and the measurement bases for assets and liabilities that best suit their needs.

Performance statement: coming together to shape the future2007 survey of what investment professionals and corporate management require to assess performance.

Corporate reporting: is it what investment professionals expect?Survey looking at the information that companies provide, and whether investors and analysts have the information they need to assess corporate performance.

IFRS 7: Potential impact of market risks Examples of how market risks can be calculated.

The EU Transparency Directive Guidance for listed companies required to implement the EU’s new Transparency Directive rules relating to periodic reporting requirements.

© 2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2009 PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2009

IFRS technical publications IFRS surveys and market issues

Corporate governance publications

Audit Committees – Good Practices for Meeting Market ExpectationsProvides PwC views on good practice and summarises audit committee requirements in over 40 countries.

IFRS for SMEs – pocket guide 2009Provides a summary of the recognition and measurement requirements in the ‘IFRS for small and medium-sized entities’ published by the International Accounting Standards Board in July 2009.

Similarities and differences – a comparison of ‘full IFRS’ and IFRS for SMEs60-page publication comparing the requirements of the IFRS for small and medium-sized entities with ‘full IFRS’ issued up to July 2009. An executive summary outlines some key differences that have implications beyond the entity’s reporting function.

Comperio – Your path to knowledgeOn-line library of global financial reporting and assurance literature. Contains full text of financial reporting standards of US GAAP and IFRS, plus materials of specific relevance to 10 other territories. Register for a free trial at www.pwccomperio.com

P2P IFRS – from principle to practice Interactive IFRS trainingPwC’s interactive electronic learning tool brings you up to speed on IFRS. Contains 23 hours of learning in 40 interactive modules. Up to date as of March 2009. For more information, visit www.pwc.com/ifrs

PwC inform – IFRS on-lineOn-line resource for finance professionals globally, covering financial reporting under IFRS (and UK GAAP). Use PwC inform to access the latest news, PwC guidance, comprehensive research materials and full text of the standards. The search function and intuitive layout enable users to access all they need for reporting under IFRS. Register for a free trial at www.pwcinform.com

IFRS pocket guide 2009Provides a summary of the IFRS recognition and measurement requirements. Including currencies, assets, liabilities, equity, income, expenses, business combinations and interim financial statements.

IFRS newsMonthly newsletter focusing on the business implications of the IASB’s proposals and new standards. Subscribe by emailing [email protected].

Illustrative interim �nancial information for existing preparers Illustrative information, prepared in accordance with IAS 34, for a fictional existing IFRS preparer. Includes a disclosure checklist and IAS 34 application guidance. Reflects standards issued up to 31 March 2009.

Illustrative IFRS corporate consolidated �nancial statements for 2009 year endsIllustrative set of consolidated financial statements for an existing preparer of IFRS. Includes an appendix showing example disclosures under IFRS 3 (revised). Included with Manual of accounting – IFRS 2010; also available separately.

Illustrative consolidated �nancial statements

Realistic sets of financial statements – for existing IFRS preparers in the above sectors – illustrating the required disclosure and presentation.

Making sense of a complex world: IFRIC 13 – Customer loyalty programmesConsiders the accounting and practical implications for telecom operators that arise from the guidance in IFRIC 13, ‘Customer loyalty programmes’. Contact [email protected] for hard copies.

Questions and answers on impairment of non-�nancial assets in the current crisisProvides practical guidance on impairment indicators to look out for, timing of impairment tests, suggestions on how to do an impairment test in volatile markets and what disclosures are critical to the market and regulators in the current environment.

Segment reporting – an opportunity to explain the businessSix-page flyer explaining high-level issues for management to consider when applying IFRS 8, including how the standard will change reporting and what investors want to see.

Top 10 tips for impairment testingThe current economic slowdown will increase the likelihood that impairment charges will need to be taken and appropriate disclosures made. Each tip is accompanied by an explanation or illustrative example.

Manual of accounting – Financial instruments 2010Comprehensive guidance on all aspects of the requirements for financial instruments accounting. Detailed explanations illustrated through worked examples and extracts from company reports.Included with Manual of accounting – IFRS 2010; also available separately.

World Watch magazineGlobal magazine with news and opinion articles on the latest developments and trends in governance, financial reporting, narrative reporting, sustainability and assurance.

IFRS for SMEs – Illustrative consolidated �nancial statements 2010Realistic set of financial statements prepared under IFRS for small and medium entities, illustrating the required disclosure and presentation.

IFRS for SMEs publications

IFRS tools

Hard copies can be ordered from cch.co.uk/ifrsbooks (unless indicated otherwise) or via your local PricewaterhouseCoopers office. See the full range of our services at www.pwc.com/ifrs

About PricewaterhouseCoopersPricewaterhouseCoopers provides industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 155,000 people in 153 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

Contacting PricewaterhouseCoopersPlease contact your local PricewaterhouseCoopers office to discuss how we can help you make the change to International Financial Reporting Standards or with technical queries.

Manual of accounting – IFRS 2010 Global guide to IFRS providing comprehensive practical guidance on how to prepare financial statements in accordance with IFRS. Includes hundreds of worked examples and extracts from company reports. The Manual is a three-volume set comprising:

Manual of accounting – IFRS 2010Manual of accounting – Financial instruments 2010Illustrative IFRS corporate consolidated financial

statements for 2009 year ends

A practical guide to capitalisation of borrowing costsGuidance in question and answer format addressing the challenges of applying IAS 23R, including how to treat specific versus general borrowings, when to start capitalisation and whether the scope exemptions are mandatory or optional.

A practical guide to new IFRSs for 200940-page guide providing high-level outline of the key requirements of new IFRSs effective in 2009, in question and answer format.

A practical guide to segment reporting Provides an overview of the key requirements of IFRS 8, ‘Operating segments’ and some points to consider as entities prepare for the application of this standard for the first time. See also ‘Segment reporting – an opportunity to explain the business’ below.

A practical guide to share-based paymentsAnswers the questions we have been asked by entities and includes practical examples to help management draw similarities between the requirements in the standard and their own share-based payment arrangements. November 2008.

Preparing your �rst IFRS �nancial statements: Adopting IFRSOutlines how companies should address the process of selecting their new IFRS accounting policies and applying the guidance in IFRS 1. Provides specific considerations for US market.

Financial instruments under IFRS – A guide through the maze High-level summary of IAS 32, IAS 39 and IFRS 7, updated in June 2009. For existing IFRS preparers and first-time adopters.

IAS 39 – Achieving hedge accounting in practiceCovers in detail the practical issues in achieving hedge accounting under IAS 39. It provides answers to frequently asked questions and step-by-step illustrations of how to apply common hedging strategies.

IAS 39 – Derecognition of �nancial assets in practiceExplains the requirements of IAS 39, providing answers to frequently asked questions and detailed illustrations of how to apply the requirements to traditional and innovative structures.

IFRS 3R: Impact on earnings – the crucial Q&A for decision-makersGuide aimed at finance directors, financial controllers and deal-makers, providing background to the standard, impact on the financial statements and controls, and summary differences with US GAAP.

IFRS disclosure checklist 2009Outlines the disclosures required by all IFRSspublished up to October 2009

Only available in electronic format. To download visit www.pwc.com/ifrs

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International Financial Reporting Standards – Disclosure checklist 2009

Introduction

The IFRS disclosure checklist has been updated to take into account standards and interpretations amended or issued up to 17 October 2009.

The most recently issued standards and interpretations from the IASB and IFRIC included in this checklist are:

Application date• IAS27Amendment,‘Consolidationandseparatefinancialstatements’ 1July2009*• IFRS3Amendment,‘Businesscombinationsandconsequentialamendments’ 1July2009*• IFRS7,‘Financialinstruments:Disclosure’(amendments) 1January2009*• IFRIC17,‘Distributionofnon-cashassetstoowners’ 1July2009*• IFRIC18,‘Transfersofassetsfromcustomers’ 1July2009* IAS1(revised)renamestheprimarystatementsandintroducesanumberofchangestoterminology,asexplainedbelow.

ThechecklistdoesnotaddressthemeasurementandrecognitionrequirementsofIFRS;athoroughreadingofthosestandardsandinterpretationsthatarerelevanttothereportingentity’scircumstanceswillbenecessary.ThisdisclosurechecklistdoesnotapplytocondensedinterimfinancialstatementspreparedinaccordancewithIAS34,‘Interimfinancialreporting’.

Disclosurerequirementsresultingfromstandardsandinterpretationsthathavebeenissuedandareeffectiveforannualperiodsbeginningonorafter1January2009areincludedinSectionA.SectionHsetsoutthedisclosurerequirementsofstandardsandinterpretationsinissueat1January2009andthatareeffectiveforannualreportingperiodsbeginningafter1July2009.

Itispossiblethatstandardsandinterpretationsthatwillbeapplicabletofinancialstatementsforperiodsbeginningonorafter1January2009couldbeamended.AnysuchchangesandadditionalrequirementswillneedtobeconsideredwhenpreparingfinancialstatementsinaccordancewithIFRS.

Thischecklistisintendedforgeneralreferencepurposesonly;itisnotasubstituteforreadingthestandardsandinterpretationsthemselves,orforprofessionaljudgementastothefairnessofpresentation.FurtherspecificinformationmayberequiredinordertoensurefairpresentationunderIFRSdependingonthecircumstances.Additionalaccountingdisclosuresmayberequiredinordertocomplywithlocallaws,nationalfinancialreportingstandardsand/orstockexchangeregulation

ChangesmadebyIAS1(revised)

IAS1(revised)introducesanumberofwordingchangesandamendsanumberofreferencesinotherIFRSstandardsandinterpretations.BotholdandnewIAS1(revised)terminologyisusedinthischecklist. An entity may use the terminology applied here or any other terminology permitted under IAS1(revised).

SomeofthewordingchangesintroducedinIAS1revisedareasfollows:

(a) ‘Incomestatement’isamendedto‘statementofcomprehensiveincome’.(b) ‘Balancesheet’isamendedto‘statementoffinancialposition’.(c) ‘Cashflowstatement’isamendedto‘statementofcashflows’.(d) ‘Balancesheetdate’isamendedto‘endofthereportingperiod’.(e) ‘Subsequentbalancesheetdate’isamendedto‘endofthesubsequentreportingperiod’.(f) ‘Equityholders’isamendedto‘owners’. (g) ReferencestothecurrentversionofIAS7,‘Cashflowstatements’areamendedtoIAS7, ‘Statementofcashflows’. (h) ReferencestothecurrentversionofIAS10,‘Eventsafterthebalancesheetdate’areamended to‘IAS10,Eventsafterthereportingperiod’.

*Earlierapplicationispermitted(anddisclosureofearlyapplicationisrequired).Earlyadoptersofthesestandardsshouldbeawarethattheremaybeconsequentialamendmentsthataffectthedisclosurerequirementsofotherstandards.

Section A

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Structure of disclosure checklist

Section A Disclosures for consideration by all entities Section B DisclosuresrequiredofallentitiesbutonlyincertainsituationsSection C Industry-specificdisclosuresSection D AdditionaldisclosuresrequiredoflistedentitiesSection E AdditionaldisclosuresrequiredofentitiesthatissueinsurancecontractsSection F AdditionaldisclosuresrequiredforretirementbenefitplansSection GSuggesteddisclosuresforfinancialreviewoutsidethefinancialstatementsSection H DisclosuresrequiredofentitiesthatearlyadoptIFRSseffectiveforannualperiods beginningafter1July2009

Format of disclosure checklist

Thedisclosurechecklistispresentedinaformatdesignedtofacilitatethecollectionandreviewofdisclosuresforeachcomponentofthefinancialstatements.Alldisclosureshavebeengroupedbysubject,whereappropriate.Additionalnotesandexplanationsinthechecklistareshowninitalics.Thereferencesintheleft-handmarginofthechecklistrepresenttheparagraphsofthestandardsinwhichthedisclosurerequirementsappear–forexample,‘8p40’indicatesIAS8paragraph40.Thedesignation‘DV’(disclosurevoluntary)indicatesthattherelevantIFRSencourages,butdoesnotrequire,thedisclosure.Additionalnotesandexplanationsareshowninitalics.

Theboxintheright-handmarginofeachpageisdesignedtoassistincompletingthechecklist.Intheleft-handbox(headed‘Y-NA-NM’)oneofthefollowingshouldbeenteredforeachdisclosureitem:• Y(‘Yes’)–theappropriatedisclosurehasbeenmade;• NA(‘Notapplicable’)–theitemdoesnotapplytothereportingentity;or• NM(‘Notmaterial’)–theitemisregardedasnotmaterialtothefinancialstatementsofthereporting entity.

MaterialityisdefinedinIAS1paragraph11andinparagraphs29and30oftheIASB’sFrameworkforthePreparationandPresentationofFinancialStatements.IAS1paragraph31statesthataspecificdisclosurerequirementinastandardoraninterpretationneednotbesatisfiediftheinformationisnotmaterial.

Theright-handboxoneachpage(headed‘Ref’)canbeusedtoinsertareferencetotherelevant partofthefinancialstatements(forexample,Note7)forallitemsthathavebeenmarked‘Y’intheleft-handbox.

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Section A Disclosures for consideration by all entities 5

A1 General disclosures 7 1. General disclosures 7 2. Presentationandfunctionalcurrency 8 3. Otherdisclosures 8

A2 Accounting policies 10 1. General disclosures 10 2.Specificpolicies 11 3.Changesinaccountingpolicy 13

A3 Statement of comprehensive income and related notes 15 1. General disclosures 15 2.Individualitems 16 3. Incometax 19 4.Extraordinaryitems 19

A4 Statement of changes in equity and related notes 19 1.Statementofchangesinequity 19 2. General disclosures 20

A5 Balance sheet and related notes 21 1. General disclosures 21 2.Measurementuncertainty 23 3.Property,plantandequipment 24 4.Investmentproperty 24 5.Intangibleassets(excludinggoodwill) 26 6.Goodwilland‘negativegoodwill’ 27 7. Impairment of assets 27 8.Associates 30 9.Jointventures 31 10.Subsidiaries 32 11.Investments–financialassets 32 12.Inventory 33 13.Tradeandotherreceivables 31 14.Incometaxes 33 15.Tradeandotherpayables 33 16.Provisions 34 17.Post-employmentbenefits–definedbenefitplans 35 18.Leaseliabilities 35 19.Borrowingsandotherliabilities 38 20.Governmentgrants 40 21.Related-partytransactions 40 22.Commitments 42 23.Contingencies 42 24.Eventsafterthereportingperiod 43

A6 Statement of cash flows 44 1.Generalpresentation 44 2.Individualitems 44

A7 Business combinations and disposals 45 1.Businesscombinations 45 2.Disposals 47

A8 Financial instruments 47 1. Generaldisclosures 47 2. Categoriesoffinancialassetsandfinancialliabilities 47 3. Financialassetsorfinancialliabilitiesatfairvaluethroughprofitorloss 48 4. Reclassification 49 5. Derecognition 49 6. Collateral 50 7. Allowanceaccountforcreditlosses 50 8. Compoundfinancialinstrumentswithmultipleembeddedderivatives 50 9. Defaults and breaches 50 10.Incomestatementandequity 51 11. Otherdisclosures 49

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A8 12. Natureandextentofrisksarisingfromfinancialinstruments 55 13. Qualitativedisclosures 55 14. Quantitativedisclosures 55 15. Capital disclosures 57 16. Financialguarantees 58

A9 Non-current assets held for sale and discontinued operations 59

Section B Disclosures required of all entities but only in certain situations 61

B1 Correction of prior-period errors 63

B2 Reporting in the currency of a hyperinflationary economy 63

B3 Uncertainties about going concern 64

B4 Departure from IFRS 64

B5 Change of year-end 64

B6 Intermediate parent company – consolidated financial statements not presented 65

B7 Share-based payments 65

B8 First-time adoption of IFRS 67

Section C Industry-specific disclosures 71

C1 Construction contracts 73

C2 Agriculture 73

C3 Public service concession arrangements 75

C4 Accounting by a lessor 75

C5 Decommissioning, restoration and environmental rehabilitation funds 77

Section D Additional disclosures required of listed entities 79

D1 Operating segments 81

D2 Earnings per share 84

Section E Additional disclosures required of entities that issue insurance contracts 87

Section F Disclosures required for retirement benefit plans 93

Section G Suggested disclosures for financial review outside the financial statements 97

Section H Disclosures required of entities that early adopt IFRSs effective for annual

periods beginning after 1 July 2009 101

H1 IFRS 3 Amendment, Business combinations and consequential amendments 103

H2 IAS 27 Amendment, Consolidated and separate financial statements 107

H3 Amendments to IFRS 5, ‘Non-current assets held for sale and discontinued operations 110

H4 IFRIC 17, Distributions of non-cash assets to owners 110

H5 IFRIC 18, Transfers of assets from customers 111

H6 Improvements to IFRS 2009 (annual improvements project) 111

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A1 General disclosures

1. General disclosures

1p15 1. Financial statements present fairly the financial position, financial performance and cash flows of an entity. Fair presentation requires the faithful representation of the effects of transactions, other events and conditions in accordance with the definitions and recognition criteria for assets, liabilities, income and expenses set out in the ‘Framework for preparation and presentation of financial statements’ (Framework). The application of IFRSs, with additional disclosure when necessary, is presumed to result in financial statements that achieve a fair presentation.

1p27 Anentitypreparesitsfinancialstatements,exceptforcashflow information,usingtheaccrualbasisofaccounting.

1p10(a),(b), 2. Includethefollowingcomponentsinthefinancialstatements:(c),(d),(e),(f) (a) astatementoffinancialposition(balancesheet)atthe periodenddate; (b) astatementofcomprehensiveincomefortheperiod; (c) separateincomestatementfortheperiod(ifpresentedas aseparatestatementfromthestatementofcomprehensive income; (d) astatementofchangesinequityfortheperiod; (e) astatementofcashflowsfortheperiod;and (f) notes,includingasummaryofsignificantaccounting policies and other explanatory information.

1p12 Whereaseparateincomestatementispresented,display immediatelybeforethestatementofcomprehensiveincome.

1p10(f) 3. Whereanentityappliesanaccountingpolicyretrospectivelyor makesaretrospectiverestatementofitems,orreclassifies itemsinitsfinancialstatements,includeastatementoffinancial positionasatthebeginningoftheearliestcomparativeperiod.

1p11 4. Presentwithequalprominenceallofthefinancialstatements.

1p29 5. Present separately each material class of similar items. Present separately items of a dissimilar nature or function unless they are immaterial.

1p32 6. Assetsandliabilitiesorincomeandexpensesarenotoffset unlessrequiredorpermittedbyanIFRS.

1p16 7. Discloseinthenotesthatthefinancialstatementscomply withIFRS.

Financial statements should not be described as complying with IFRS unless they comply with all the requirements of IFRS.

1p49 8. Financialstatementsshouldbeclearlyidentifiedand distinguished from other information in the same published document.

1p51 9. Clearlyidentifyeachfinancialstatementandthenotes.

1p51(a),(b), 10.Displaythefollowinginformationprominently,andrepeatwhere(c),(d),(e) necessary for the information presented to be understood: (a) thenameofthereportingentityorothermeansof identification,andanychangeinthatinformationfromthe endofthepreviousreportingperiod; (b) whetherthefinancialstatementsareforanindividualentity oragroupofentities; (c) thedateoftheendofthereportingperiodortheperiod coveredbythefinancialstatementsandnotes; (d) thepresentationcurrency(definedinIAS21);and (e) thelevelofroundingusedinpresentingamountsinthe financialstatements.

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1p31 Anentityneednotprovideaspecificdisclosurerequiredbyan IFRS if the information is not material.

1p36 (a),(b) 11. Where an entity has changed the end of its reporting period and preparesfinancialstatementsforaperiodoflessthanormore thanoneyear,disclose: (a) theperiodcoveredbythefinancialstatements; (b) thereasonforusingalongerorshorterperiod;and (c) thefactthatamountspresentedinthefinancialstatements are not entirely comparable.

10p17 12.Includethefollowinginthenotestothefinancialstatements: (a)thedatewhenthefinancialstatementswereauthorisedfor issue; (b) thebodywhogavethatauthorisation;and (c)whethertheentity’sownersorothershavethepowerto amendthefinancialstatementsafterissue.

2. Presentation and functional currency 21p53 1. When the presentation currency is different from the functional currency,statethatfact,togetherwithdisclosureofthe functional currency and the reason for using a different presentation currency.

21p54 2. When there is a change in the functional currency of either the reportingentityorasignificantforeignoperation,disclosethat fact and the reason for the change in functional currency.

21p55 3. Ifpresentingfinancialstatementsinacurrencythatisdifferent fromthefunctionalcurrency,describethefinancialstatements ascomplyingwithIFRSonlyiftheycomplywithallthe requirementsofeachapplicablestandardandeachapplicable interpretation including the translation method set out in IAS 21 paras39and42.

21p56 4. Anentitysometimespresentsitsfinancialstatementsorother financialinformationinacurrencythatisnotitsfunctional currencywithoutapplyingthetranslationmethodssetoutin IAS21paras39and42.Forexample,anentitymayconvert onlyselecteditemsfromitsfinancialstatementsintoanother currency;or,anentitywhosefunctionalcurrencyisnotthe currencyofahyperinflationaryeconomymayconvertthe financialstatementsintoanothercurrencybytranslatingall itemsatthemostrecentclosingrate.Suchconversionsarenot inaccordancewithIFRS,andthedisclosuressetoutinIAS 21para57arerequired(seebelow).

21p57 5. Ifpresentingfinancialstatementsorotherfinancialinformation in a currency that is different from either the functional currency orthepresentationcurrencywithoutapplyingthetranslation methodssetoutinIAS21paras39and42: (a) clearlyidentifytheinformationassupplementaryinformation to distinguish it from the information that complies withIFRS; (b)disclosethecurrencyinwhichthesupplementary informationisdisplayed;and (c)disclosetheentity’sfunctionalcurrencyandthemethodof translation used to determine the supplementary information.

3. Otherdisclosures

1p112(a),(b), 1. Disclose in the notes:(c) (a) informationaboutthebasisofpreparationofthefinancial statementsandthespecificaccountingpoliciesused; (b)theinformationrequiredbyIFRSsthatisnotpresented elsewhereinthefinancialstatements;and

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(c)informationthatisnotpresentedelsewherebutisrelevant toanunderstandingofthefinancialstatements.

1p113 Thenotesaregiveninasystematicmanner,asfarasis practicable,witheachitemcross-referencedinthestatements offinancialpositionandofcomprehensiveincome,theseparate incomestatement(wherepresented)andinthestatementsof changesinequityandcashflowstoanyrelated information in the notes.

1p114, 115 Notesarenormallypresentedinthefollowingordertoassist userstounderstandthefinancialstatementsandtocompare themwithfinancialstatementsofotherentities(unless considerednecessaryordesirabletovarytheorder):1p114(a) (a)statementofcompliancewithIFRSs(seeIAS1.16);1p114(b) (b)summaryofsignificantaccountingpoliciesapplied (seeIAS1.117);1p114(c) (c) supportinginformationforitemspresentedinthe statementsoffinancialpositionandofcomprehensive income,intheseparateincomestatement(ifpresented), andinthestatementsofchangesinequityandofcash flows,intheorderinwhicheachstatementandeachline itemispresented;and1p114(d) (d)otherdisclosures,including: (i) contingentliabilities(seeIAS37)andunrecognised contractualcommitments; (ii) non-financialdisclosures(seeIFRS7).

1p116 Notesprovidinginformationaboutthebasisofpreparationof thefinancialstatementsandspecificaccountingpoliciesmay bepresentedasaseparatesectionofthefinancialstatements.

1p17(c) Provideadditionaldisclosureswhencompliancewiththe specificrequirementsinIFRSsisinsufficienttoenableusersto understandtheimpactofparticulartransactions,otherevents andconditionsontheentity’sfinancialpositionandfinancial performance.

1p38 2. Disclosecomparativeinformationinrespectoftheprevious periodforallamountsreportedinthecurrentperiod’sfinancial statements,exceptwhereIFRSspermitorrequireotherwise. Thisincludescomparativeinformationforbothnarrativeand descriptiveinformationwhereitisrelevanttounderstandingthe financialstatementsforthecurrentperiod.

1p39 3. Anentitydisclosingcomparativeinformationpresents,as aminimum,twostatementsoffinancialposition,twoofeach oftheotherstatements,andrelatednotes.Whereanentity appliesanaccountingpolicyretrospectivelyormakesa retrospectiverestatementofitemsinitsfinancialstatements, itpresents,asaminimum,threestatementsoffinancial position,twoofeachoftheotherstatements,andrelated notes.Anentitypresentsstatementsoffinancialpositionasat: (a) theendofthecurrentperiod; (b) theendofthepreviousperiod(whichisthesameasthe beginningofthecurrentperiod);and (c) thebeginningoftheearliestcomparativeperiod.

1p41(a),(b), 4. Whereanentityhasreclassifiedcomparativeamountsdueto(c) achangeinpresentationorclassificationofitemsinitsfinancial statements,disclose: (a) thenatureofthereclassification; (b) theamountofeachitemorclassofitemthatisreclassified; and (c) thereasonforthereclassification.

When an entity changes the presentation or classification of items in its financial statements, reclassify comparative amounts unless it is impracticable to do so.

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Disclosurechecklist2009–SectionsA1-A2

1p42 5. Whereanentitychangesthepresentationorclassificationof items,butitisimpracticabletoreclassifycomparativeamounts, disclose: (a) thereasonfornotreclassifyingtheamounts;and (b) thenatureoftheadjustmentsthatwouldhavebeenmadeif theamountshadbeenreclassified. 1p45 6. Retainthepresentationandclassificationofitemsinthe financialstatementsfromoneperiodtothenextunless: (a) itisapparent,followingasignificantchangeinthenature oftheentity’soperationsorareviewofitsfinancial statements,thatanotherpresentationorclassification wouldbemoreappropriatehavingregardtothecriteriafor theselectionandapplicationofaccountingpolicies;or (b) anIFRSrequiresachangeinpresentation.

1p138(a),(b), 7. Disclosethefollowing:(c), (d) (a) thedomicileandlegalformoftheentity,thecountryin whichitisincorporatedandtheaddressofitsregistered office(orprincipalplaceofbusiness,ifdifferentfromthe registeredoffice); (b) adescriptionofthenatureoftheentity’soperationsandits principalactivities; (c) thenameoftheparentandtheultimateparentofthegroup; and (d)ifitisalimitedlifeentity,informationregardingthelengthof its life.24p12 (e) nameoftheimmediateparententity(orothercontrolling shareholder);24p12 (f) nameoftheultimatecontrollingparty.

24p12 If neither the parent entity nor the ultimate parent entity present financialstatementsavailableforpublicuse,disclosethename of the next most senior parent that does so.

DV 8. Companiesmaypresentoutsidethefinancialstatementsa financialreviewbymanagementthatdescribesandexplainsthe mainfeaturesoftheentity’sfinancialperformanceandfinancial position,andtheprincipaluncertaintiesitfaces.Referto Section G.

IFRS6p24(b) 9. Companieswithexplorationandevaluationactivitiesdisclose theamountsofassets,liabilities,incomeandexpenseand operatingandinvestingcashflowsarisingfromtheexploration forandevaluationofmineralresources.

A2 Accounting policies


1p117(a),(b) 1. Discloseinthesummaryofsignificantaccountingpolicies: (a) themeasurementbasis(orbases)usedinpreparingthe financialstatements;and (b)theotheraccountingpoliciesusedthatarerelevanttoan understandingofthefinancialstatements.

1p22 2. Discloseinthesummaryofsignificantaccountingpoliciesor othernotes,thejudgements,apartfromthoseinvolving estimationsthatmanagementhasmadeinapplyingtheentity’s accountingpoliciesandthathavethemostsignificantimpact ontheamountsrecognisedinthefinancialstatements.

1p125(a),(b) 3. Discloseinformationabouttheassumptionsmadeaboutthe1p129 futureandothermajorsourcesofestimationuncertaintyatthe endofthereportingperiodthathaveasignificantriskofleading tomaterialadjustmentstothecarryingamountsofassetsand liabilitieswithinthenextfinancialyear.Inrespectofthose assetsandliabilities,disclose: (a) theirnature,and

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(b) theircarryingamountasattheperiodenddate.

Examples of the types of disclosures an entity makes are: (a) the nature of the assumption or other estimation uncertainty; (b) the sensitivity of carrying amounts to the methods, assumptions and estimates underling their calculation, including the reasons for the sensitivity; (c) the expected resolution of an uncertainty and the range of reasonably possible outcomes within the next financial year in respect of the carrying amounts of the assets and liabilities affected; and (d) an explanation of the changes made to past assumptions concerning those assets and liabilities, if the uncertainty remains unresolved.

1p131 Where impracticable to disclose the extent of the possible effects of an assumption or another source of estimation uncertaintyattheendofthereportingperiod,disclosethat: (a)itisreasonablypossible,onthebasisofexisting knowledge,thatoutcomeswithinthenextfinancialyear thataredifferentfromtheassumptioncouldrequirea materialadjustmenttothecarryingamountoftheassetor liabilityaffectedand; (b)thenatureandcarryingamountofthespecificassetor liability(orclassofassetsorliabilities)affectedbythe assumption.

27p28 4. Inconsolidatedfinancialstatements,theresultsofall subsidiaries,associatesandjointventuresshouldbe28p26 consolidated,equityaccountedorproportionallyconsolidated,31p33 asapplicable,usinguniformaccountingpoliciesforlike transactionsandothereventsinsimilarcircumstances.

8p28 5. Inaccordancewiththetransitionprovisionsofeachstandard, disclosewhetheranystandardshavebeenadoptedbythe reportingentitybeforetheeffectivedate.

1p18 6. Inappropriateaccountingpoliciesarenotrectifiedeitherby disclosure of the accounting policies used or by notes or explanatory material.

2. Specificpolicies

Disclosureofthefollowingaccountingpoliciesisrequired:1p119 1. Consolidationprinciples,includingaccountingfor: (a)subsidiaries;and (b)associates.

1p119 2. Business combinations.

31p57 3. Jointventures,includingthemethodtheventurerusesto recogniseitsinterestsinjointlycontrolledentities.

1p119 4. Foreigncurrencytransactionsandtranslation.

16p73 5. Property,plantandequipment–foreachclass:(a)-(c) (a) measurementbasis(forexample,costlessaccumulated depreciationandimpairmentlosses,orrevaluationless subsequentdepreciation); (b)depreciationmethod(forexample,thestraight-linemethod); and (c)theusefullivesorthedepreciationratesused.

40p75 6. Investmentproperty.Disclose:(a)-(e) (a)whethertheentityappliesthefairvaluemodelorthecost model; (b)ifitappliesthefairvaluemodel,whether,andinwhat circumstances,propertyinterestsheldunderoperating leasesareclassifiedandaccountedforasinvestment property;

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(c) whenclassificationisdifficult,thecriteriatheentityusesto distinguishinvestmentpropertyfromowner-occupied property and from property held for sale in the ordinary courseofbusiness; (d)themethodsandsignificantassumptionsappliedin determiningthefairvalueofinvestmentproperty,including astatementonwhetherthedeterminationoffairvaluewas supportedbymarketevidenceorwasmoreheavilybased onotherfactors(whichshouldbedisclosed)becauseofthe natureofthepropertyandlackofcomparablemarketdata; and (e)theextenttowhichthefairvalueofinvestmentproperty(as measuredordisclosedinthefinancialstatements) isbasedonavaluationbyanindependentvaluerwhoholds arecognisedandrelevantprofessionalqualificationand has recent experience in the location and category of the investmentpropertybeingvalued.

1p119 7. Otherintangibleassets.Disclose,foreachclass(distinguishing betweeninternallygeneratedandacquiredassets): (a) accountingtreatment(costlessamortisation,or,inveryrare cases,revaluationlesssubsequentamortisation); 38p118(a) (b)whethertheusefullivesareindefiniteorfinite;38p118(a)(b) (c)forintangibleassetswithfiniteusefullives,theamortisation periodandamortisationmethodsused(forexample,the straight-linemethod);and38p108 (d)forintangibleassetswithindefiniteusefullives,thatthey havebeentestedforimpairmentannuallyandwhenever there is an indication that the intangible asset may be impaired.

1p119 8. Treatmentofresearchcostsandthebasisforcapitalisationof developmentcostsandwebsitedevelopmentcosts.

1p119, 9. Borrowingcosts(for example, expensed or capitalised as part 23p9,p29(a) of a qualifying asset).

IFRS7p21 10.Foreachclassoffinancialasset,financialliabilityandequity instrument,disclosetheaccountingpoliciesandmethods adopted,includingthecriteriaforrecognitionandthebasisof measurement.

IFRS7pB5 Aspartofthedisclosureofanentity’saccountingpolicies, disclose,foreachcategoryoffinancialassets,whetherregular waypurchasesandsalesoffinancialassetsareaccountedfor attradedateoratsettlementdate(IAS39para38).

IFRS7p21, Providedisclosureofallsignificantaccountingpolicies,1p108 including the general principles adopted and the method ofapplyingthoseprinciplestotransactions,othereventsand conditionsarisingintheentity’sbusiness.Inthecaseof financialinstruments,suchdisclosureincludes: (a)thecriteriaappliedindeterminingwhentorecognisea financialassetorfinancialliability,andwhentoderecognise it; (b)themeasurementbasisappliedtofinancialassetsand financialliabilitiesoninitialrecognitionandsubsequently; and (c)thebasisonwhichincomeandexpensesarisingfrom financialassetsandfinancialliabilitiesarerecognisedand measured.

1p119 11.Leases.

2p36(a) 12.Inventories,includingthecostformulaused(forexample,FIFO orweightedaveragecost).

1p119 13.Provisions.

19p120A(a) 14.Employeebenefitcosts–includingpolicyforrecognising actuarial gains and losses.

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IFRS2p44 15.Share-basedpayments.

1p119 16.Taxes,includingdeferredtaxes.

18p35(a), 17.Revenuerecognition.1p119

18p35(a) 18.Themethodadoptedtodeterminethestageofcompletionof transactionsinvolvingtherenderingofservices.

1p119, 19.Constructioncontracts,including:11p39(b),(c) (a) methodsusedtodeterminecontractrevenuerecognised; and (b)methodsusedtomeasurestageofcompletionofcontracts in progress.

20p39(a) 20.Governmentgrants:1p119 (a)accountingpolicy;and (b)methodofpresentationinfinancialstatements.

1p119, 7p46 21.Definitionofcashandcashequivalents.

1p119 22.Segmentreporting(requiredforlistedcompanies): (a)definitionofbusinessandgeographicalsegments;and (b)thebasisforallocationofcostsbetweensegments

IFRS6p24(b) 23.Explorationandevaluationexpendituresincludingthe recognitionofexplorationandevaluationassets.

36p80, 102 24.Policyforallassetsincludingtheselectionofthecash- generatingunitstoallocatethecorporateassetsandgoodwill for the purpose of assessing such assets for impairment

IFRS6p21, 23 25.Policyforallocatingexplorationandevaluationassetsto cash-generatingunitsorgroupsofcash-generatingunitsforthe purpose of assessing such assets for impairment.

1p134 26.Discloseinformationthatenablesusersofthefinancial1p135(a)(i), statementstoevaluatetheentity’sobjectives,policiesand(a)(ii),(a)(iii), processesformanagingcapital,including:(b),(c),(d),(e) (a) qualitativeinformationabouttheobjectives,policiesand processes,including: (i) adescriptionofwhattheentitymanagesascapital; (ii) thenatureofanyexternallyimposedcapital requirementsandhowthoserequirementsare incorporatedintothemanagementofcapital;and (iii)howtheentityismeetingitsobjectivesformanaging capital; (b) summaryquantitativedataaboutwhattheentitymanages ascapital; (c) anychangesin(a)and(b)comparedtothepriorperiod; (d) whethertheentityhascompliedwithanyexternally imposedcapitalrequirementsduringthereportingperiod; and (e) wheretheentityhasnotcompliedwithanyexternally imposedcapitalrequirements,theconsequencesof non-compliance.

Theabovedisclosureisbasedoninformationprovided internally to key management personnel.

3. Changesinaccountingpolicy

8p19 1. Where a change in accounting policy is made on the adoption ofanIFRS,providethedisclosuresinaccordancewiththe specifictransitionalprovisionsofthatstandard.

8p28 2. Oninitialapplicationofarelevantstandardorinterpretation, disclose: (a)thetitleofthestandardorinterpretation; (b)thatthechangeinaccountingpolicyismadeinaccordance withitstransitionalprovisions,whenapplicable;

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(c) thenatureofthechangeinaccountingpolicy; (d)adescriptionofthetransitionalprovisions,whenapplicable; (e)thetransitionalprovisionsthatmighthaveaneffecton futureperiods,whenapplicable; (f) theamountoftheadjustmentforthecurrentperiodand eachpriorperiodpresented,totheextentpracticable: (i) foreachfinancialstatementlineitemaffected;and (ii) ifIAS33appliestotheentity,theimpactonbasicand dilutedearningspershare; (g)theamountoftheadjustmentrelatingtoperiodsbefore thosepresented,totheextentpracticable;and (h)iftheretrospectiveapplicationrequiredisimpracticable foraparticularpriorperiod,orforperiodsbeforethose presented,thecircumstancesthatledtotheexistence ofthatconditionandadescriptionofhowandfrom whenthechangeinaccountingpolicyhasbeenapplied.

These disclosures need not be repeated in the financial statements of subsequent periods.

8p30 3. Ifanentityhasnotappliedanewrelevantstandardor interpretationthathasbeenissuedbutisnotyeteffective, disclose: (a)thefactthattheentitydidnotapplythenewstandardor interpretationthathasbeenissuedbutisnotyeteffective; and (b) knownorreasonablyestimableinformationrelevantto assessingthepossibleimpactthatapplicationofthenew standardorinterpretationwillhaveontheentity’sfinancial statements in the period of initial application.

DV8p31 4. Incomplyingwiththepreviousparagraph,considerdisclosing: (a)thetitleofthenewstandardorinterpretation; (b)thenatureoftheimpendingchangeorchangesin accountingpolicy; (c)thedatebywhichapplicationofthestandardor interpretationisrequired; (d)thedateasatwhichitplanstoapplythestandardor interpretationinitially;and (e)either: (i) adiscussionoftheimpactthatinitialapplicationof thestandardorinterpretationisexpectedtohaveonthe entity’sfinancialstatements;or (ii) ifthatimpactisnotknownorreasonablyestimable,a statement to that effect.

8p29 5. Onavoluntarychangeinaccountingpolicy,disclose: (a)thenatureofthechangeinaccountingpolicy; (b)thereasonswhyapplyingthenewaccountingpolicy providesreliableandmorerelevantinformation; (c)theamountoftheadjustmentforthecurrentperiodand eachpriorperiodpresented,totheextentpracticable: (i) foreachfinancialstatementlineitemaffected;and (ii) ifIAS33appliestotheentity,theimpactonbasicand dilutedearningspershare; (d)theamountoftheadjustmentrelatingtoperiodsbefore thosepresented,totheextentpracticable;and (e)iftheretrospectiveapplicationrequiredisimpracticablefora particularpriorperiod,orforperiodsbeforethose presented,thecircumstancesthatledtotheexistence ofthatconditionandadescriptionofhowandfromwhen the change in accounting policy has been applied.

These disclosures need not be repeated in the financial statements of subsequent periods.

IFRS6p13, 14 Exploration and evaluation expenditures. An entity may change its accounting policies for exploration and evaluation if the change makes the financial statements more relevant to the economic decision-making needs of users and no less reliable, or more reliable and no less relevant to those needs. The criteria

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in IAS 8 should be followed for the change in the accounting policy.

A3 Statement of comprehensive income and related notes


Refer to the Appendix to IAS 1 for an example income statement. 1p81(a),(b) 1. Present all items of income and expense recognised in a period: (a) inasinglestatementofcomprehensiveincome;or (b)inastatementdisplayingcomponentsofprofitorloss(a separateincomestatement)andasecondstatement beginningwithprofitorlossanddisplayingcomponentsof othercomprehensiveincome(statementofcomprehensive income).

1p82(a),(b), 2. Includeinthestatementofcomprehensiveincome,asa(c),(d),(e)(i) minimum,lineitemsshowingthefollowingamountsforthe(e)(ii),(f),(g), period:(h),(i) (a) revenue; (b) financecosts; (c) shareofprofitorlossofassociatesandjointventures accountedforusingtheequitymethod; (d) taxexpense; (e) asingleamountcomprisingthetotalof: (i) thepost-taxprofitorlossondiscontinuedoperations; and (ii) thepost-taxgainorlossrecognisedonthe measurementtofairvaluelesscoststoselloron the disposal of the assets or disposal groups that make updiscontinuedoperations; (f) profitorloss; (g) eachcomponentofothercomprehensiveincomeclassified bynature(excludingamountsin(h)); (h) shareoftheothercomprehensiveincomeofassociatedjoint venturesaccountedforusingtheequitymethod;and (i) totalcomprehensiveincome.

1p83(a)(i), 3. Disclosethefollowinginthestatementofcomprehensive(a)(ii),(b)(i), income as allocations for the period:(b)(ii) (a) profitorlossfortheperiodattributableto: (i) minorityinterests;and (ii) ownersoftheparent;and (b) totalcomprehensiveincomefortheperiodattributableto: (i) minorityinterests;and (ii) ownersoftheparent.

1p84 Entities may present the line items and disclosure as required by paragraphs 82 and 83 above in the statement of comprehensive income or in the separate income statement (if presented).

1p85 4. Presentadditionallineitems,headingsandsubtotalsinthe statementofcomprehensiveincome(andtheseparateincome statement,ifpresented)whensuchpresentationisrelevantto anunderstandingoftheentity’sfinancialperformance.

1p90 5. Disclose,eitherinthestatementofcomprehensiveincomeor inthenotes,theamountofincometaxrelatingtoeach componentofothercomprehensiveincomeincluding reclassificationadjustments.

Componentsofothercomprehensiveincomemaybe presented: (a)netofrelatedtaxeffects,or

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(b)beforerelatedtaxeffectswithoneamountshownfor aggregate amount of income tax relating to those components.

1p92 6. Disclosereclassificationadjustmentsrelatingtocomponentsof othercomprehensiveincome.

1p94 7. Anentitymaypresentreclassificationadjustmentsinthe statementofcomprehensiveincomeorinthenotes.Anentity presentingreclassificationadjustmentsinthenotespresents thecomponentsofothercomprehensiveincomeafterany relatedreclassificationadjustments.

1p97 8. Whenitemsofincomeandexpensearematerial,disclosetheir nature and amount separately.

1p99,1p100, 9. Giveananalysisofexpensesrecognisedinprofitorlossusing1p101 aclassificationbasedoneithertheirnatureortheirfunction withintheentity,whicheverprovidesinformationthatisreliable andmorerelevant.Entitiesareencouragedtopresentthis analysisinthestatementofcomprehensiveincomeorin theseparateincomestatement(ifpresented).Whenanentity usesabyfunctionanalysis,itdisclosesataminimum,costof sales separate from other expenses.

1p104 10.Wheretheentityclassifiesexpensesbyfunction,disclose additionalinformationonthenatureofexpenses,including depreciation,amortisationandemployeebenefitsexpense.

20p29 11.Governmentgrantsrelatedtoincomearesometimespresented asacreditinthestatementofcomprehensiveincome,either: (a) separatelyorunderageneralheadingsuchas‘Other income’;or (b) deductedinreportingtherelatedexpense.

20p29A 12.Ifanentitypresentsthecomponentsofprofitorlossina separateincomestatement,asdescribedinIAS1para81,it presentsgrantsrelatedtoincomeasrequiredinIAS20para29.

33p4 13.Anentitythatchoosestodiscloseearningspersharebasedon itsseparatefinancialstatementspresentssuchearningsper shareinformationonlyinitsstatementofcomprehensive incomeandnotintheconsolidatedfinancialstatements.

33p4A 14.Anentitythatpresentsthecomponentsofprofitorlossina separateincomestatement,asdescribedinIAS1para81, presents earnings per share only in that separate statement.

19p93B 15. Present actuarial gains and losses recognised in other comprehensiveincomeinthestatementofcomprehensive income.

IFRS1p6 16.PrepareandpresentanopeningIFRSstatementoffinancial position at the date of transition to IFRSs.

12p81 17. Disclose separately the amount of income tax relating to each componentofothercomprehensiveincome.

8p39, 40 18.Disclosethenatureandamountofachangeinanaccounting estimate that has an effect in the current period or that is expectedtohaveaneffectinfutureperiods.Ifitis impracticabletoestimatetheamount,disclosethisfact.

34p26 19. If an estimate of an amount reported in an interim period changessignificantlyduringthefinalinterimperiodofthe financialyearbutaseparatefinancialreportisnotpublished forthatfinalinterimperiod,thenatureandamountofthat change in estimate should be disclosed in a note to the annual financialstatementsforthatfinancialyear.Thisisonly applicablewhenthereportingentitypublishesaninterim financialreportpreparedinaccordancewithIAS34

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2. Individualitems

18p35(b) 1. Disclosetheamountofeachsignificantcategoryofrevenue recognisedduringtheperiod,includingrevenuearisingfrom: (a)thesaleofgoods; (b) therenderingofservices; (c)interest; (d)royalties;and (e)dividends.

18p35(c) 2. Disclosetheamountofnon-cashrevenuearisingfrom exchangesofgoodsorservicesincludedineachsignificant categoryofrevenue.

SIC27p10(b) 3. Disclosetheaccountingtreatmentappliedtoanyfeereceived in an arrangement that has the legal form of a lease but that in substancedoesnotinvolvealeaseunderIAS17,theamount recognisedasincomeintheperiod,andthelineitemofthe incomestatementinwhichitisincluded(refertoSection A5.18(c)).

1p30 4. Itemsnotindividuallymaterialareaggregatedwithotheritems inthestatementofcomprehensiveincomeorinthenotes.

1p98 5. Circumstancesthatwouldgiverisetotheseparatedisclosure of items of income and expense include:1p98(a) (a)thewrite-downofinventoriestonetrealisablevalueorof property,plantandequipmenttorecoverableamount,as wellasthereversalofsuchwrite-downs;1p98(b) (b)arestructuringoftheactivitiesofanentityandthereversal ofanyprovisionsforthecostsofrestructuring;1p98(c) (c)disposalsofitemsofproperty,plantandequipment;1p98(d) (d)disposalsofinvestments;1p98(e) (e)discontinuedoperations;1p98(f) (f) litigationsettlements;and1p98(g) (g)otherreversalsofprovisions.

1p99,1p100 6. Presentananalysisofexpensesrecognisedinprofitorloss usingaclassificationbasedoneitherthenatureofexpensesor theirfunctionwithintheentity,whicheverprovidesinformation thatisreliableandmorerelevant.Entitiesareencouraged topresentthisanalysisinthestatementofcomprehensive incomeorintheseparateincomestatement(ifpresented).

1p104 7. Ifexpensesareclassifiedbyfunction,discloseadditional informationonthenatureofexpenses,includingdepreciation, amortisationexpenseandemployeebenefitsexpense.

1p103 8. Ifexpensesareclassifiedbyfunction,ataminimum, disclose the cost of sales separately from other expenses.

9. Employeebenefits–disclose:19p46 (a)theexpensefordefinedcontributionplans;19p120A(g) (b)fordefinedbenefitplans–thetotalexpenseforeachof thefollowing,andthelineitem(s)oftheincomestatementin whichtheyareincluded: (i) currentservicecost; (ii) interestcost; (iii)expectedreturnonplanassets; (iv)expectedreturnonanyreimbursementrightrecognised asanasset; (v) actuarialgainsandlosses; (vi)pastservicecost;and (vii)theeffectofanycurtailmentorsettlement; 19p120A(m) (c)fordefinedbenefitplans; (i) theactualreturnonplanassets;and (ii) theactualreturnonanyreimbursementrightrecognised asanasset;19p131 (d)theexpenseresultingfromotherlong-termemployee benefits,ifsignificant;and

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19p142 (e)theexpenseresultingfromterminationbenefits,if significant.

38p126 10.Discloseresearchanddevelopmentexpenditurerecognisedas an expense during the period.

21p52(a) 11. Disclose the amount of foreign exchange differences recognisedinprofitorlossexceptforthosearisingonfinancial instrumentsmeasuredatfairvaluethroughprofitorlossin accordancewithIAS39.

36p126(a)(b) 12.Discloseforeachclassofassetsthefollowingamounts recognisedduringtheperiod,andthelineitem(s)oftheincome statementinwhichtheyareincluded: (a)impairmentlosses;and (b)reversalsofimpairmentlosses.

38p118(d) 13.DisclosethefollowingamountsrecognisedduringtheIFRS3p67(g) periodandthelineitem(s)oftheincomestatementinwhich they are included: (a)amortisationofintangibleassets(byeachclass);and (b)excessofacquirer’sinterestinthenetfairvalueof acquiree’sassets,liabilitiesandcontingentliabilities overcostrecognisedasincome.

40p75(f) 14.Investmentproperty–disclose: (a)rentalincome; (b)directoperatingexpensesincludingrepairsand maintenancearisingfrominvestmentpropertythat generatedrentalincomeduringtheperiod; (c)directoperatingexpensesincludingrepairsand maintenancearisingfrominvestmentpropertythatdidnot generaterentalincomeduringtheperiod;and40p32C (d)thecumulativechangeinfairvaluerecognisedinprofitor lossonasaleofinvestmentpropertyfromapoolofassets inwhichthecostmodelisusedintoapoolinwhichthefair valuemodelisused;

IFRS7p20 15.Disclosethefollowingmaterialitemsresultingfromfinancial assetsandfinancialliabilities: (a)income; (b)expense; (c)gains;and (d)losses.

IFRS7p20 16.Thedisclosuresinpara16aboveshouldincludethefollowing: (a)netgainsorlosseson: (i) financialassetsorfinancialliabilitiesatfairvaluethrough profitorloss,showingseparatelythoseonfinancial assetsorfinancialliabilitiesdesignatedassuchupon initialrecognition,andthoseonfinancialassetsor liabilitiesthatareclassifiedasheldfortradingin accordancewithIAS39; (ii) available-for-salefinancialassets,showingseparately theamountofgainorlossrecogniseddirectlyinequity duringtheperiod,andtheamountremovedfromequity andrecognisedinprofitorlossfortheperiod; (iii)held-to-maturityinvestments; (iv)loansandreceivables;and (v) financialliabilitiesmeasuredatamortisedcost; (b) totalinterestincomeandtotalinterestexpense(calculated usingtheeffectiveinterestmethod)forfinancialassetsor liabilitiesthatarenotatfairvaluethroughprofitorloss; (c)feeincomeandexpense(otherthanamountsincludedin determiningtheeffectiveinterestrate)arisingfrom: (i) financialassetsandliabilitiesthatarenotatfairvaluet hroughprofitorloss;and (ii) trustandotherfiduciaryactivitiesthatresultinthe holdingorinvestingofassetsonbehalfofindividuals, trusts,retirementbenefitplansandotherinstitutions;

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(d)interestincomeonimpairedfinancialassets;and (e)theamountofanyimpairmentlossforeachclassof financialasset.

3. Incometax

12p79 1. Disclosethemajorcomponentsoftaxexpense(income).IAS12 para80,givesexamplesofthemajorcomponentsoftax expense(income).

12p81(c) 2. Provideanexplanationoftherelationshipbetweentaxexpense (income)andaccountingprofitineitherofthefollowingforms: (a)numericalreconciliationbetweentaxexpense(income)and productofaccountingprofit,multipliedbytheapplicable taxrate(s),disclosingalsothebasisonwhichtheapplicable taxrate(s)is(are)computed(refertoIAS12para85);or (b)anumericalreconciliationbetweentheaverageeffective taxrateandtheapplicabletaxrate,disclosingalsothe basisonwhichtheapplicabletaxrateiscomputed(referto IAS12para85).

12p81(d) 3. Provideanexplanationofchangesintheapplicabletaxrate(s) comparedtothepreviousperiod.

4. Extraordinaryitems

1p87 1. Noitemsofincomeorexpenseshouldbepresented asextraordinaryitems,eitherinthestatementof comprehensiveincomeortheseparateincomestatement(if presented)orinthenotes.

A4 Statement of changes in equity and related notes

1. Statementofchangesinequity

1p106(a), 1. ForcompaniesadoptingIAS27(revised)(whichamendsIAS1(b), (d) forannualperiodsbeginningonorafter1July2009):

Ensurethat,whereapplicable,thestatementofchangesin equityshowsthefollowingitems: (a) totalcomprehensiveincomefortheperiod,showing separatelythetotalamountsattributabletoownersofthe parentandtonon-controllinginterests; (b) foreachcomponentofequity,theeffectsofretrospective applicationorretrospectiverestatementrecognisedin accordancewithIAS8; (d) foreachcomponentofequity,areconciliationbetween the carrying amount at the beginning and the end of the period,separatelydisclosingchangesresultingfrom: (i) profitorloss; (ii) eachitemofothercomprehensiveincome;and (iii)transactionswithownersintheircapacityasowners, showingseparatelycontributionsbyanddistributions toownersandchangesinownershipinterestsin subsidiaries that do not result in a loss of control.

1p106 (a),(b), ForcompaniesnotadoptingIAS27(revised): (c),(d) Ensurethat,whereapplicable,thestatementofchangesin equityshowsthefollowingitems: (a) totalcomprehensiveincomefortheperiod,showing separatelythetotalamountsattributabletoownersofthe parentandtominorityinterest; (b) foreachcomponentofequity,theeffectsofretrospective applicationorretrospectiverestatementrecognisedin accordancewithIAS8; (c) theamountsoftransactionswithownersintheircapacity asowners,showingseparatelycontributionsbyand distributionstoowners(notethatIAS1para107also requiresdisclosureofdividends,includingtherelated amountpershare,eitherinthisstatementorinthenotes-

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the presentation of these disclosures in the statement of comprehensiveincomeisnotpermitted);and (d) foreachcomponentofequity,areconciliationbetween the carrying amount at the beginning and the end of the period,separatelydisclosingeachchange.

1p107 2. Disclose,eitherinthestatementofchangesinequityorinthe notes,theamountofdividendsrecognisedasdistributionsto ownersduringtheperiodandtherelatedamountpershare.

1p108 InIAS1para106thecomponentsofequityinclude,for example,eachclassofcontributedequity,theaccumulated balanceofeachclassofothercomprehensiveincomeand retained earnings.

32p39 3. Disclosetheamountoftransactioncostsaccountedforasa deductionfromequityintheperiodisdisclosedseparatelyin the notes.


1p79(b) 1. Disclose a description of the nature and purpose of each 16p77(f) reservewithinshareholders’equity,includingrestrictionsonthe 38p124(b) distributionoftherevaluationreserves(this usually includes details of any restrictions on distributions for each reserve in shareholders’ equity, although it is not specified in IAS 1).

12p81(a) 2. Disclose the aggregate current and deferred tax relating to itemschargedorcreditedtoequity.It is useful to disclose the analysis by category of temporary differences.

36p126(c), 3. Disclosetheamountofimpairmentlossesandtheamountof(d) reversalsofimpairmentlosses,recogniseddirectlyinequity duringtheperiod,foreachclassofassets.

1p79(a) 4. Disclosethefollowingforeachclassofsharecapitaleitheron thebalancesheetorinthestatementofchangesinequityorin thenotes(thisinformationisusuallydisclosedinthenotes): 1p79(a),(i) (a)thenumberofsharesauthorised;1p79(a),(ii) (b)thenumberofsharesissuedandfullypaid,andissuedbut notfullypaid;1p79(a),(iii) (c)parvaluepershare,orthattheshareshavenoparvalue;1p79(a),(iv) (d)areconciliationofthenumberofsharesoutstandingatthe beginningandendoftheyear;1p79(a),(v) (e)therights,preferencesandrestrictionsattachedtoeach classofsharecapital,includingrestrictionsonthe distributionofdividendsandtherepaymentofcapital; 1p79(a)(vi) (f) sharesintheentityheldbytheentityitselforbytheentity’s subsidiariesorassociates;and1p79(a)(vii) (g)sharesreservedforissuanceunderoptionsandsales contracts,includingthetermsandamounts.

32p15,18,20 5. Certain types of preference shares should be classified as AG25,AG26 liabilities (not in equity). Refer to IAS 32 para 18(a).

IFRIC2p13 6. Whenachangeintheredemptionprohibitionleadstoatransfer betweenfinancialliabilitiesandequity,discloseseparatelythe amount,timingandreasonforthetransfer.

1p80 7. Anentitywithoutsharecapital,suchasapartnership,should discloseinformationequivalenttothatrequiredinIAS1 para79(a),showingmovementsduringtheperiodineach categoryofequityinterestandtherights,preferencesand restrictionsattachedtoeachcategoryofequityinterest.

10p12 8. Disclosetheamountofdividendsproposedordeclaredbefore1p137(a) thefinancialstatementswereauthorisedforissuebutnot recognisedasadistributiontoequityholdersduringtheperiod, and the related amount per share.

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1p137(b) 9. Disclosetheamountofanycumulativepreferencedividends not recognised.

IFRS5p38 10. Anycumulativeincomeorexpenserecogniseddirectlyinequity inrelationtoanon-currentasset(ordisposalgroup)classified as held for sale.

A5 Balance sheet and related notes 1. General disclosures

Refer to the Appendix to IAS 1 for an example balance sheet.

1p54(a),(b), 1. Includeinthestatementoffinancialposition,asaminimum, (c),(d),(e),(f), thefollowinglineitems:(g),(h),(i),(j), (a) property,plantandequipment;(k),(l),(m), (b) investmentproperty;(n),(o),(p), (c) intangibleassets;(q),(r) (d) financialassets(excludingamountsshownunder(e),(h) and(i)); (e) investmentsaccountedforusingtheequitymethod; (f) biologicalassets; (g) inventories; (h) tradeandotherreceivables; (i) cashandcashequivalents; (j) thetotalofassetsclassifiedasheldforsaleandassets includedindisposalgroupsclassifiedasheldforsalein accordancewithIFRS5; (k) tradeandotherpayables; (l) provisions; (m)financialliabilities(excludingamountsshownunder(k) and(l)); (n) liabilitiesandassetsforcurrenttax,asdefinedinIAS12; (o) deferredtaxliabilitiesanddeferredtaxassets,asdefined inIAS12; (p) liabilitiesincludedindisposalgroupsclassifiedasheldfor saleinaccordancewithIFRS5; (q) minorityinterest,presentedwithinequity,butseparately fromshareholders’equity(iftheamendmentstoIAS27 havebeenadoptedthereferenceto’minorityinterest’in IAS1para54(q)isreplacedwith‘non-controllinginterest’ andthereferenceto‘parentshareholders’equity’is replacedwith‘parent’sownershipinterests’);and (r) issuedcapitalandreservesattributabletoownersof the parent.

1p55 2. Presentadditionallineitems,headingandsubtotalsontheface ofthestatementoffinancialpositionwhensuchpresentationis relevanttoanunderstandingoftheentity’sfinancialposition.

1p56 3. Donotclassifydeferredtaxassetsorliabilitiesascurrent assets or liabilities.

1p77 4. Disclosefurthersub-classificationsofthelineitemspresented, classifiedinamannerappropriatetotheentity’soperations. Thisdisclosureismadeeitherinthestatementoffinancial position or in the notes.

1p60 5. Ifthecurrent/non-currentdistinctionofassetsandliabilities madeisonthefaceofthebalancesheet,applythe classificationrulesinIAS1paras66-76.Iftheyarenotmade onthefaceofthebalancesheet,ensurethatapresentation basedonliquidityprovidesinformationthatisreliableandmore relevant.Ensurealsothatassetsandliabilitiesarepresentedin orderoftheirliquidity.

1p64 An entity is permitted to use a mixed basis of presentation including current/non-current classification and in order of liquidity when this provides information that is reliable and more relevant – for example, when an entity has diverse operations.

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1p61 6. Whichevermethodofpresentationisapplied,disclosethe non-currentportion(theamountexpectedtoberecovered orsettledaftermorethan12months)foreachassetandliability itemthatcombinescurrentandnon-currentamounts.

1p78(e), 1p79 7. Equitycapitalandreservesaredisaggregatedintovarious(a)(i), (a)(ii), classes,suchaspaid-incapital,sharepremiumandreserves.

Disclosethefollowinginformationeitherinthestatementof financialpositionorthestatementofchangesinequityorin the notes:

(a) foreachclassofsharecapital: (i) thenumberofsharesauthorised; (ii) thenumberofsharesissuedandfullypaid,andissued butnotfullypaid; (iii) theparvaluepershare,orthattheshareshavenopar value; (iv) areconciliationbetweenthenumberofshares outstanding at the beginning and the end of the reportingperiod; (v) therights,preferencesandrestrictionsforeachclass ofshare,includingrestrictionsondividendsandthe repaymentofcapital; (vi) sharesintheentityheldbytheentityitselforbyits subsidiariesorassociates;and (vii)sharesreservedforissueunderoptionsandcontracts forthesaleofshares,includingthetermsandamounts; and (b) adescriptionofthenatureandpurposeofeachreserve withinequity.

2. Measurementuncertainty

37p85 1. Foreachclassofprovision,provide: (a)abriefdescriptionofthenatureoftheobligationandofthe expectedtimingofanyresultingoutflowsofeconomic benefits; (b)anindicationoftheuncertaintiesabouttheamountortiming ofthoseoutflows(wherenecessarytoprovideadequate information,disclosethemajorassumptionsmade concerningfutureevents,asaddressedinIAS37para48); and (c)theamountofanyexpectedreimbursement,stating the amount of any asset that has been recognised for that expected reimbursement.

34p26 2. If an estimate of an amount reported in an interim period – for example,aprovision–ischangedsignificantlyduringthe finalinterimperiodofthefinancialyearbutaseparatefinancial reportisnotpublishedforthatfinalinterimperiod,disclosethe nature and amount of that change in estimate in a note to the annualfinancialstatementsforthatfinancialyear.

This item is applicable only when the reporting entity publishes an interim financial report prepared in accordance with IAS 34.

3. Notethatcertainstandardsrequirefurtherspecificdisclosures aboutsourcesofestimationuncertaintyandjudgements. Thespecificdisclosurerequirementsintheothersectionsof this disclosure checklist include: (a)methodsandassumptionsappliedindeterminingfairvalues for: 40p75(c)-(e) (i) investmentproperty(SectionA2.2,para6);16p77(c)(d) (ii) property,plantandequipment(SectionA5.3,para3(c) and3(d));38p124(c) (iii) intangibleassets(SectionA5.5,para5);36p130,131, (iv) impairmentofassets–basisandkeyassumptionsfor133, 134 determiningimpairmentlossesorreversals(Section A7.7,paras1and4);

(a)(iii), (a)(iv), (a)(v), (a)(vi), (a)(vii), (b)

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IFRS3p67(d),73 (v) businesscombinations–basisfordeterminingfair valueofinstrumentsissuableinabusinesscombination (SectionA7.1para(e))andadjustmentsmadeto provisionalvalues(SectionA7.1para6);IFRS7p27 (vi) financialinstruments(SectionA8);IFRS2p46 (vii) share-basedpayments(SectionB7,para2to5);and41p47 (viii)agriculturalproduceandbiologicalassets(Section C2.1para5); (b)nature,timingandcertaintyofcashflowsrelatingtothe following:37p86 (i) contingencies(SectionA5.23);IFRS7p31 (ii) financialinstruments–termsandconditionsthatmay affecttheamount,timingandcertaintyoffuturecash flows;SIC 29p6-7 (iii)publicserviceconcessionarrangements–termsand conditionsthatmayaffecttheamount,timingand certaintyoffuturecashflows(SectionC3);andIFRS4p37 (iv) insurance–informationaboutnature,timingand uncertaintyoffuturecashflowsfrominsurance contracts(SectionE,para2);and (c) otherrelevantdisclosures:36p130,131, (i) impairmentofassets–keyassumptionsforcashflow133,134 projections,periodscoveredbyprojections,growth rates for extrapolations and discount rates in determiningvalueinuse(SectionA7.7,para1and4); 19p120A(u) (ii) post-employmentdefinedbenefitplans–principal actuarialassumptions(SectionA5.17,paras14and15).IFRS4p37 (iii)insurance–processusedtodetermineassumptions thathavethegreatesteffectonthemeasurementof recognisedassets,liabilities,incomeandexposesfrom insurancecontracts.Whenpracticable,aninsurershall alsogivequantifieddisclosureofthoseassumptions; and 26p35 (iv) retirementbenefitplanentities–actuarialassumptions (SectionF,para2).

3. Property,plantandequipment

17p32,57 The disclosure requirements of IAS 16 apply to owned assets and to the amounts of leased assets held under finance leases in the lessee’s accounts.

16p73(d) 1. Disclose the gross carrying amount and the accumulated 1p78(a) depreciation(includingaccumulatedimpairmentlosses)for eachclassofproperty,plantandequipment(PPE),atthe beginning and end of each period presented.

16p73(e) 2. Provideareconciliationofthecarryingamountforeachclassof PPEatthebeginningandendofeachperiodpresented showing: (a)additions; (b)assetsclassifiedasheldforsaleunderIFRS5andother disposals; (c)acquisitionsthroughbusinesscombinations; (d)increasesordecreasesduringtheperiodthatresultfrom revaluationsandimpairmentlossesrecognisedorreversed directlyinequityunderIAS36; (e)impairmentlossesrecognisedduringtheperiod; (f) impairmentlossesreversedduringtheperiod; (g)depreciation; (h)netexchangedifferencesonthetranslationoffinancial statements into a different presentation currency and on translation of a foreign operation into the presentation currencyofthereportingentity;and (i) othermovements.

36p126(a),(b) Foreachclassofasset,disclosethelineitemsofthestatement ofcomprehensiveincomeinwhichimpairmentlossesand reversalsofimpairmentlossesareincluded.

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16p77 3. ForPPEstatedatrevaluedamounts,disclose: (a)theeffectivedateoftherevaluation; (b)whetheranindependentvaluerwasinvolved; (c)themethodsandsignificantassumptionsappliedin estimatingtheitems’fairvalues; (d)theextenttowhichtheitems’fairvaluesweredetermined directlybyreferencetoobservablepricesinanactive marketorrecentmarkettransactionsonarm’slengthterms, ortheextenttowhichtheywereestimatedusingother valuationtechniques;and (e)foreachrevaluedclassofPPE,thecarryingamountthat wouldhavebeenrecognisedhadtheassetsbeencarried under the cost model.

Refer also to the disclosures on revaluation surplus in Section A4.

16p74(a) 4. DisclosetheexistenceandamountsofPPEwhosetitleis restricted.

16p74(a) 5. DisclosetheamountsofPPEpledgedassecurityforliabilities.

16p74(b) 6. DisclosetheamountofexpendituresonaccountofPPEinthe course of construction.

16p74(d) 7. If it is not disclosed separately on the face of the income statement,disclosetheamountofcompensationfromthird partiesforitemsofPPEthatwereimpaired,lostorgivenupand thatisincludedinprofitorloss

8. Borrowingcosts.Disclose:23p26(a) (a)theamountofborrowingcostscapitalisedduringthe period;and23p26(b) (b)thecapitalisationrateusedtodeterminetheamountof borrowingcostseligibleforcapitalisation.

17p31(a) 9. Providethenetcarryingamountforeachclassofassetsheld underfinanceleases.

DV, 16p79 10.Voluntarydisclosures: (a)thecarryingamountoftemporarilyidlePPE; (b)thegrosscarryingamountofanyfullydepreciatedPPEthat isstillinuse; (c)thecarryingamountofPPEretiredfromactiveuseandnot classifiedasheldforsaleunderIFRS5;and (d)whenPPEiscarriedatcostlessdepreciation,thefairvalue ofPPEifthisismateriallydifferentfromthecarrying amount.

IFRS6p25 11.Explorationandevaluationassets.Treattheseassetsasa separateclassofassetsandmakethedisclosurerequiredby IAS16iftheyareclassifiedasitemsofproperty,plantand equipment.

4. Investmentproperty

The disclosures below apply in addition to those in IAS 17. In accordance with IAS 17, the owner of an investment property provides lessors’ disclosures about leases into which it has entered. An entity that holds an investment property under a finance or operating lease provides lessees’ disclosures for finance leases and lessors’ disclosures for any operating leases into which it has entered.

40p76, 79(d) 1. Provideareconciliationofthecarryingamountofinvestment propertyatthebeginningandendofeachperiodpresented, showingseparatelythosecarriedatfairvalueandthose measuredatcostbecausethefairvaluecannotbedetermined reliably: (a) additions;disclosingseparatelythoseadditionsresulting fromacquisitionsandthoseresultingfromsubsequent expenditurerecognisedinthecarryingamountoftheasset; (b)additionsresultingfromacquisitionsthroughbusiness combinations;

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(c)assetsclassifiedasheldforsaleorincludedinadisposal groupclassifiedasheldforsaleinaccordancewithIFRS5 andotherdisposals; (d)thenetgainsorlossesfromfairvalueadjustments(where thefairvaluemodelinIAS40isused); (e)netexchangedifferencesarisingonthetranslationofthe financialstatementsintoadifferentpresentationcurrency and on translation of a foreign operation into the presentationcurrencyofthereportingentity; (f) transferstoandfrominventories;andowner-occupied property;and (g)otherchanges.

40p78 Whenanentitythatappliesthefairvaluemodeltoinvestment propertymeasuresapropertyusingthecostmodelinIAS16 (inaccordancewithIAS40para53)becausefairvaluecannot bemeasuredreliably,discloseinthereconciliationrequiredin IAS40para76amountsrelatingtothatinvestmentproperty separatelyfromamountsrelatingtootherinvestmentproperty

40p75(e) 2. Iftherehasbeennovaluationbyanindependentprofessionally qualifiedvaluer,disclosethefact.

40p78 3. Ifthefairvaluemodelisused,butcertaininvestmentproperties arecarriedundertheIAS16costmodelbecauseofthelackof areliablefairvalue,provide:40p78(a) (a)adescriptionoftheinvestmentproperty;40p78(b) (b)anexplanationofwhyfairvaluecannotbereliably measured;40p78(c) (c)therangeofestimateswithinwhichfairvalueishighlylikely tolie;and40p78(d) (d)iftheentitydisposesofinvestmentpropertywhosefair valuepreviouslycouldnotbemeasuredreliably,disclose:40p78(c)(i) (i) thattheentityhasdisposedofinvestmentpropertynot carriedatfairvalue;40p78(c)(ii) (ii) thecarryingamountofthatinvestmentpropertyatthe timeofsale;and40p78(c)(iii) (iii)thecarryingamountofthatinvestmentpropertyatthe timeofsale;and40p78(c)(iv) (iv) thegainorlossondisposal.

40p75(g) 4. Disclosetheexistenceandamountsofrestrictionsonthe realisabilityofinvestmentpropertyortheremittanceofincome and proceeds of disposal.

5. If an entity uses the cost model disclose in addition to para 1 above: 40p79(a) (a)depreciationmethodsused;40p79(b) (b)theusefullivesorthedepreciationratesused;and40p79(c) (c)thegrosscarryingamountandtheaccumulated depreciation(aggregatedwithaccumulatedimpairment losses): (i) atthebeginningoftheperiod;and (ii) attheendoftheperiod;40p79(d) (d)areconciliationofthecarryingamountatthebeginningand end of the period of: (i) depreciation; (ii) theamountofimpairmentlossesrecognised,andthe amountofimpairmentlossesreversed,duringthe periodinaccordancewithIAS36; (iii) thenetexchangedifferencesarisingonthetranslation ofthefinancialstatementsintoadifferentpresentation currency,andontranslationofaforeignoperationinto thepresentationcurrencyofthereportingentity;and40p79(e) (e)thefairvalueofinvestmentproperty.Whenanentitycannot reliablydeterminethefairvalueoftheinvestmentproperty, disclose: (i) adescriptionoftheinvestmentproperty;

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(ii) anexplanationofwhyfairvaluecannotbereliably measured;and (iii)therangeofestimateswithinwhichfairvalueishighly likely to lie.

40p77 6. Whenavaluationobtainedforinvestmentpropertyisadjusted significantlyforthepurposeofthefinancialstatements(for example,toavoiddouble-countingofassetsorliabilitiesthat are recognised as separate assets and liabilities as described in IAS40para50),disclose: (a)areconciliationbetweenthevaluationobtainedandthe adjustedvaluationincludedinthefinancialstatements;and (b)separately,inthereconciliation: (i) theaggregateamountofanyrecognisedlease obligationsthathavebeenaddedback;and (ii) anyothersignificantadjustments.

5. Intangibleassets(excludinggoodwill)

17p32,57 ThedisclosurerequirementsofIAS38applytoownedintangible assets and to the amounts of leased intangible assets held under financialleasesinthelessee’saccounts.

38p118 1. A reconciliation of the carrying amount in respect of each class 38p118(e) ofintangibleasset,distinguishingbetween: (a)internallygeneratedintangibleassets;and (b)otherintangibleassets.

Showthefollowinginthereconciliation: (a)grosscarryingamountandaccumulatedamortisation (includingaccumulatedimpairmentlosses)atthebeginning oftheperiod; (b)additions(indicatingseparatelythosefrominternal development,thoseacquiredseparately,andthose acquiredthroughbusinesscombinations); (c)assetsclassifiedasheldforsaleorincludedinadisposal groupclassifiedasheldforsale(inaccordancewithIFRS5) andotherdisposals; (d)increasesordecreasesresultingfromrevaluations; (e)impairmentlossesrecognisedduringtheperiod; (f) impairmentlossesreversedduringtheperiod; (g)amortisationrecognisedduringtheperiod; (h)exchangedifferencesfromthetranslationofthefinancial statements into a presentation currency that is different to theentity’sfunctionalcurrencyandfromthetranslationofa foreignoperationintotheentity’spresentationcurrency; (i) othermovements;and38p118(c) (j) thegrosscarryingamountandaccumulatedamortisation (includingaccumulatedimpairmentlosses)attheendofthe period.

1p36 IAS 38 para 119 gives examples of separate classes of intangible assets. Comparative information for these items is required.

38p122(a) 2. Forintangibleassetswithindefiniteusefullives,disclose: (a)thecarryingamount;and (b)thereasonssupportingtheassessmentofanindefinite useful life.

38p122(b) 3. Theentityisrequiredtoprovidethefollowingforanyindividual intangibleassetthatismaterialtothefinancialstatementsof theentityasawhole: (a)adescriptionoftheasset, (b)itscarryingamount;and (c)remainingamortisationperiod.

38p124(a) 4. Forintangibleassetscarriedatrevaluedamounts,disclosefor each class of intangible assets: (a)theeffectivedateoftherevaluation; (b)thecarryingamountofrevaluedintangibleassets;and

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(c)thecarryingamountthatwouldhavebeenincludedinthe financialstatementshadthecostmodelbeenused(as if the assets had been carried at cost less accumulated depreciationandaccumulatedimpairmentlosses).

38p124(c) 5. Disclosethemethodandsignificantassumptionsappliedin estimatingthefairvaluesoftheintangibleassets.

38p122(d) 6. Disclose: (a)theexistenceandamountsofintangibleassetswhosetitle isrestricted;and (b)theamountsofintangibleassetspledgedassecurityfor liabilities.

38p122(c) 7. Forintangibleassetsacquiredthroughagovernmentgrantand initiallyrecognisedatfairvalue(refertoIAS38para44), disclose: (a)thefairvalueinitiallyrecognisedfortheseassets; (b)theircarryingamount;and (c)whethertheyarecarriedatcostlessdepreciationorat revaluedamounts.

DV, 38p128 8. Voluntarydisclosures: (a)fullyamortisedintangibleassetsthatarestillinuse;and (b)detailsofsignificantintangibleassetscontrolledbythe entity but not recognised because they did not meet the recognitioncriteriainIAS38orbecausetheywereacquired orgeneratedbeforeIAS38(1998version)becameeffective.

IFRS6p25 9. Explorationandevaluationassets.Treattheseassetsasa separateclassofassetsandmakethedisclosuresrequiredby IAS38iftheyareclassifiedasintangibleasset

6. Goodwilland‘negativegoodwill’1

IFRS3p75 1. Provideareconciliationofthecarryingamountofgoodwill, showing: (a)grosscarryingamountandaccumulatedimpairmentlosses atthebeginningoftheperiod; (b)additions; (c)adjustmentsresultingfromthesubsequentrecognitionof deferredtaxassetsduringtheperiodinaccordancewith IFRS3para65; (d)disposals; (e)impairmentlossesrecognisedduringtheperiod; (f) netexchangedifferencesarisingduringtheperiod; (g)otherchangesduringtheperiod;and (h)grosscarryingamountandaccumulatedimpairmentlosses at the end of the period.

1p38 Comparative information for these items is required.

IFRS3p77 2. IftheinformationthatisrequiredtobedisclosedbyIFRS3 does not disclose enough information to enable users to evaluatethenatureandfinancialeffectofabusiness combination,disclosesuchadditionalinformationasis necessarytomeetthatobjective.

7. Impairment of assets

17p32,57 The disclosure requirements of IAS 36 apply to owned assets and to the amounts of leased assets held under finance leases in the lessee’s accounts.

36p130 1. Whereanimpairmentloss,recognisedorreversedforan individualassetorcash-generatingunit(CGU)duringthe period,ismaterialtothefinancialstatementsofthereporting entity,disclose:

1 TheIASBnolongerusestheterm‘negativegoodwill’.Theofficialtermis‘excessofacquirer’s interestinthenetfairvalueofacquiree’sidentifiableassets,liabilitiesandcontingentliabilities overcost’.Theterm‘negativegoodwill’isusedinthispublicationintheinterestofbrevity.

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(a)theeventsandcircumstancesthatledtotherecognitionor reversaloftheimpairmentloss; (b)theamountoftheimpairmentlossrecognisedorreversed; (c)foranindividualasset: (i) thenatureoftheasset;and (ii) thesegmenttowhichtheassetbelongs(basedon primaryformat)(refertoSectionD1); (d)foraCGU: (i) adescriptionoftheCGU(suchaswhetheritisa productline,aplant,abusinessoperation,a geographicalarea,orareportablesegmentasdefinedin IAS14)(refertoSectionD1); (ii) theamountoftheimpairmentlossrecognisedor reversed: –byclassofassets;and –byreportablesegmentbasedontheentity’sprimary format(refertoSectionD1);and (iii)iftheaggregationofassetsforidentifyingtheCGUhas changedsincethepreviousestimateoftheCGU’s recoverableamount,theentityshoulddescribethe current and former method of aggregating assets and thereasonsforchangingthewaytheCGUisidentified; (e)whethertherecoverableamountoftheassetorCGUisits fairvaluelesscoststoselloritsvalueinuse; (f) thebasisusedtodeterminefairvaluelesscoststosellifthe recoverableamountisthefairvaluelesscoststosell(for example,whetheritwasdeterminedbyreferencetoan activemarketorinsomeotherway);and (g)iftherecoverableamountisvalueinuse,thediscountrates usedincurrentestimateandpreviousestimate(ifany)of valueinuse.

The disclosures in this section relating to segments are applicable to entities that apply IAS 14 – refer to Section D1.

36p131 2. Disclosethefollowinginformationfortheaggregateimpairment lossesandtheaggregatereversalsofimpairmentlosses recognisedduringtheperiodforimpairmentlossesorreversals thatarenotindividuallymaterial (a) themainclassesofassetsaffectedbyimpairmentlosses(or reversalsofimpairmentlosses);and (b)themaineventsandcircumstancesthatledtothe recognition(reversal)oftheseimpairmentlosses.

36p133 3. Ifanyportionofthegoodwillacquiredinabusiness combination during the reporting period has not been allocated toaCGUatthereportingdate: (a)disclosetheamountoftheunallocatedgoodwill;and (b)disclosethereasonswhythatamountremainsunallocated.

36p134 4. Wherethecarryingamountofgoodwillorintangibleassetswith indefiniteusefullivesallocatedtoaCGU(orgroupofCGUs)is significantincomparisontothetotalcarryingamountof goodwillorintangibleassetswithindefiniteusefullives,disclose thefollowingforeachCGU(orgroupofCGUs): (a)thecarryingamountofallocatedgoodwill; (b)thecarryingamountofintangibleassetswithindefinite usefullives; (c)thebasisonwhichtherecoverableamountsoftheCGUs (groupofCGUs)havebeendetermined(valueinuseorfair valuelesscosttosell); (d)iftherecoverableamountsoftheCGUsarebasedonvalue in use: (i) adescriptionofeachkeyassumptiononwhich managementhasbaseditscashflowprojectionsfor theperiodcoveredbythemostrecentbudgets/ forecasts(keyassumptionsarethosetowhichthe recoverableamountsoftheCGUsaremostsensitive);

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(ii) adescriptionofmanagement’sapproachtodetermining thevaluesassignedtoeachkeyassumption,whether thosevaluesreflectpastexperienceand/orare consistentwithexternalsourcesofinformation,if appropriate.Ifnot,disclosehowandwhytheydiffer frompastexperienceand/orexternalsourcesof information; (iii)theperiodoverwhichmanagementhasprojectedcash flowsbasedonfinancialbudgets/forecastsapprovedby managementand,whenaperiodgreaterthanfiveyears isusedforaCGU(orgroupofCGUs),anexplanationof whythatlongerperiodisjustified; (iv)thegrowthrateusedtoextrapolatecashflow projectionsbeyondtheperiodcoveredbythemost recentbudgets/forecasts,andthejustificationfor usinganygrowthratethatexceedsthelong-term averagegrowthratefortheproducts,industries,or countryorcountriesinwhichtheentityoperates,orfor themarkettowhichtheCGUisdedicated;and (v) thediscountrate(s)appliedtothecashflowprojections; (e)iftheCGUs’recoverableamountsarebasedonthefair valuelesscosttosell,disclosethemethodologyused todeterminethefairvaluelesscosttosell.Iffairvalueless costtosellisnotdeterminedusingobservablemarket pricesfortheCGUs,disclosethefollowinginformation: (i) adescriptionofeachkeyassumptiononwhich managementhasbaseditsdeterminationoffairvalue lesscosttosell(keyassumptionsarethosetowhichthe recoverableamountsoftheCGUsaremostsensitive); and (ii) adescriptionofmanagement’sapproachtodetermining thevaluesassignedtoeachkeyassumption,whether thosevaluesreflectpastexperienceand/or,if appropriate,areconsistentwithexternalsourcesof information,andifnot,howandwhytheydifferfrom pastexperienceand/orexternalsourcesofinformation; and (f)ifareasonablypossiblechangeinakeyassumptionon whichmanagementhasbaseditsdeterminationofthe CGU’srecoverableamountwouldcausetheCGU’scarrying amounttoexceeditsrecoverableamount: (i) theamountbywhichtheaggregateoftheCGU’s recoverableamountsexceedstheaggregateoftheir carryingamounts; (ii) thevalueassignedtothekeyassumptions;and (iii)theamountbywhichthevalueassignedtothekey assumptionmustchange,afterincorporatingany consequentialeffectsofthatchangeontheother variablesusedtomeasurerecoverableamount,inorder fortheCGU’srecoverableamounttobeequaltoits carrying amount.

36p135 5. Ifsomeorallofthecarryingamountofgoodwillorintangible assetswithindefinitelivesisallocatedacrossmultipleCGUs(or groupsofCGUs)andtheamountallocatedtoeachCGU(or groupofCGUs)isnotindividuallysignificant,disclosethatfact, togetherwiththeaggregatecarryingamountofgoodwillor intangibleassetswithindefinitelivesallocatedtothoseCGUs (orgroupofCGUs).

36p135 6. IftherecoverableamountsofanyofthoseCGUs(orgroupof CGUs)arebasedonthesamekeyassumptions,andthe aggregatecarryingamountsofgoodwillorintangibleassets withindefinitelivesallocatedtothemissignificant,disclose thatfact,togetherwith: (a)theaggregatecarryingamountofgoodwillallocatedto thoseCGUs(orgroupsofCGUs);

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(b)theaggregatecarryingamountofintangibleassetswith indefiniteusefullivesallocatedtothoseCGUs(orgroupof CGUs); (c)adescriptionsofthekeyassumption(s); (d)adescriptionofmanagement’sapproachtodetermining thevaluesassignedtoeachkeyassumption,whether thosevaluesreflectpastexperienceand/or,ifappropriate, whethertheyareconsistentwithexternalsourcesof information.Ifnot,disclosehowandwhytheydifferfrom pastexperienceand/orexternalsourcesofinformation;and (e)ifareasonablypossiblechangeinthekeyassumptions wouldcausetheCGU’s(orgroupofCGUs’)carryingamount toexceeditsrecoverableamount: (i) theamountbywhichtheaggregateoftherecoverable amountsoftheCGUsexceedstheaggregateoftheir carryingamounts; (ii) thevalueassignedtothekeyassumptions;and (iii)theamountbywhichthevalueassignedtothekey assumptionmustchange,afterincorporatinganyeffects ofthatchangeintheothervariablesusedtomeasure therecoverableamount,inorderfortheCGU’s(orgroup ofCGUs’)recoverableamounttobeequaltotheir carrying amount.

36p136 7. Ifthemostrecentdetailedcalculationoftherecoverable amountofaCGUmadeinaprecedingperiodiscarried forwardandusedintheimpairmenttestforthatunitinthe currentperiod,thedisclosuresrequiredin5and6aboverelate tothecarriedforwardcalculationofrecoverableamount.

38p128 8. Anentityisencouraged,butnotrequired,todisclose: 38p128(a) (a)adescriptionofanyfullyamortisedintangibleassetthatis stillinuse;and 38p128(b) (b)abriefdescriptionofsignificantintangibleassetscontrolled by the entity but not recognised as assets because they did notmeettherecognitioncriteriainIAS38orbecausethey wereacquiredorgeneratedbeforetheversionofIAS38 issuedin1998waseffective.

8. Associates

28p1 Anentityholdinganinvestmentinanassociatethatis measuredatfairvaluethroughprofitorlossinaccordancewith IAS39disclosestheinformationrequiredbyIAS28para37(f).

28p38 1. Associatesaccountedforusingtheequitymethod.Disclose: (a)associatesasaseparateitemundernon-currentassets; (b)theinvestor’sshareoftheprofitorlossofassociates;and (c)separately,theinvestor’sshareofanydiscontinued operations of associates.

28p37 2. Disclose: (a)thefairvalueofinvestmentsinassociates(individually)for whichtherearepublishedpricequotations; (b)summarisedfinancialinformationofassociates(individually foreachsignificantassociate),includingtheaggregated amountsofassets,liabilities,revenuesandprofitorloss; (c)thereasonswhythepresumptionthataninvestordoesnot havesignificantinfluenceisovercomeiftheinvestor holds,directlyorindirectlythroughsubsidiaries,lessthan 20%ofthevotingorpotentialvotingpoweroftheinvestee butconcludesthatithassignificantinfluence; (d)thereasonswhythepresumptionthataninvestorhas significantinfluenceisovercomeiftheinvestorholds, directlyorindirectlythroughsubsidiaries,20%ormoreof thevotingorpotentialvotingpoweroftheinvesteebut concludesthatitdoesnothavesignificantinfluence;

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(e)thereportingdateofanassociate’sfinancialstatements, whenitisdifferentfromthatoftheinvestor,andthereason forusingadifferentreportingdate; (f) thenatureandextentofanysignificantrestrictions(for example,resultingfromborrowingarrangementsor regulatoryrequirements)onassociates’abilitytotransfer fundstotheinvestorintheformofcashdividends,or repaymentofloansoradvances; (g)theunrecognisedshareofanassociate’slosses,bothfor theperiodandcumulatively,ifaninvestorhasdiscontinued recognitionofitsshareofanassociate’slosses; (h)thefactthatanassociateisnotaccountedforusingthe equitymethod,inaccordancewithIAS28para13;and (i) summarisedfinancialinformationofassociates,either individuallyoringroups,thatarenotaccountedforusing theequitymethod,includingtheamountsoftotal assets,totalliabilities,revenuesandprofitorloss.

28p39 3. Theinvestor’sshareofchangesrecogniseddirectlyinthe associate’sequityshouldberecogniseddirectlyinequitybythe investor.Disclosetheseinthestatementofchangesinequity, asrequiredbyIAS1.

8p40 4. InaccordancewithIAS37,disclose: (a) theinvestor’sshareofanassociate’scontingentliabilities incurredjointlywithotherinvestors;and (b)thosecontingentliabilitiesthatarisebecausetheinvestoris liable for all or part of the liabilities of the associate.

9. Jointventures

31p56 1. Aventurershoulddisclose: (a) alistinganddescriptionofinterestsinsignificantjoint venturesandtheproportionofownershipinterestheldin jointlycontrolledentities;and (b)theaggregateamountsofeachofcurrentassets, long-termassets,currentliabilities,long-termliabilities, incomeandexpensesrelatedtoitsinterestsinjoint ventures.

31p56 2. Aventurerthatrecognisesitsinterestsinjointlycontrolled entitiesusingtheline-by-linereportingformatforproportionate consolidationortheequitymethod,disclosestheaggregate amountsofeachofthefollowingrelatedtoitsinterestsinjoint ventures: (a)currentassets; (b)non-currentassets; (c)currentliabilities; (d)non-currentliabilities; (e)income;and (f) expenses.

31p54 3. Discloseseparatelyfromothercontingentliabilities: (a)anycontingentliabilitiesthattheventurerhasincurredin relationtoitsinterestsinjointventuresanditsshareineach ofthecontingentliabilitiesthathavebeenincurredjointly withotherventurers; (b)itsshareofthecontingentliabilitiesofthejointventures themselvesforwhichitiscontingentlyliable;and (c)thecontingentliabilitiesthatarisebecausetheventureris contingentlyliablefortheliabilitiesoftheotherventurersof ajointventure.

31p55 4. Discloseseparatelyfromothercommitmentstheaggregateof: (a) anycapitalcommitmentsoftheventurerinrelationtoits interestsinjointventuresanditsshareinthecapital commitmentsthathavebeenincurredjointlywithother venturers;and (b)itsshareofthecapitalcommitmentsofthejointventures themselves.

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31p1 5. Anentityholdinganinterestinajointventurethatismeasured atfairvaluethroughprofitorlossinaccordancewithIAS39 disclosestheinformationrequiredbyIAS31paras55and56.

10. Subsidiaries

27p40 1. Inconsolidatedfinancialstatements,disclose: (a)thenatureoftherelationshipbetweentheparentand asubsidiarywhentheparentdoesnotown,directlyor indirectlythroughsubsidiaries,morethanhalfofthevoting power; (b)thereasonswhytheownership,helddirectlyorindirectly throughsubsidiaries,ofmorethanhalfofthevotingor potentialvotingpowerofaninvesteedoesnotconstitute control; (c)thereportingdateofasubsidiary’sfinancialstatements whenitisdifferentfromthatoftheparent,andthereason forusingadifferentreportingdateorperiod;and (d)thenatureandextentofanysignificantrestrictions(for example,resultingfromborrowingarrangementsor regulatoryrequirements)ontheabilityofsubsidiariesto transferfundstotheparentintheformofcashdividendsor torepayloansoradvances.

27p42 2. Whenaparent(otherthanaparentcoveredbyIAS27para41), venturerwithaninterestinajointlycontrolledentityoran investorinanassociatepreparesseparatefinancialstatements, disclose: (a)thefactthatthestatementsareseparatefinancial statementsandthereasonswhythosestatementsare preparedifnotrequiredbylaw; (b)alistofsignificantinvestmentsinsubsidiaries,jointly controlledentitiesandassociates,including: (i) thename; (ii) countryofincorporationorresidence; (iii)proportionofownershipinterest;and (iv)ifdifferent,proportionofvotingpowerheld;and (c)adescriptionofthemethodusedtoaccountforthe investmentslistedunder(b).

Identifytheconsolidatedfinancialstatementspreparedin accordancewithIAS27para9,IAS28andIAS31towhichthe separatefinancialstatementsrelate.

11.Investments–financialassets 39p9 1. Under IAS 39 financial assets are classified into: (a) held at fair value through profit or loss (including trading); (b) held to maturity; (c) loans and receivables; and (d) available for sale.

2. AlthoughnotrequiredbyIAS39,itisusefultodisclosea reconciliationofthecarryingamountoffinancialassetsatthe beginningandendoftheperiodshowingmovements, impairment losses and exchange differences arising on translationofthefinancialstatementsofaforeignentitywhen investmentsaresignificant.

IFRS7p20 3. Foravailable-for-salefinancialassets,disclose:(a)(ii) (a)theamountofanygainorlossthatwasrecognisedinequity duringthecurrentperiod;and (b)theamountthatwasremovedfromequityandreportedin netprofitorlossfortheperiod.

IFRS7p12 4. Iftheentityhasreclassifiedafinancialassetasonerequiredto bemeasuredatcostoramortisedcostratherthanatfairvalue, disclosethereasonforthereclassification(refertoIAS39 para54).

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39p37(a) For all transfers that involve collateral, if the transferee has the right by contract or custom to sell or repledge the collateral, the transferor reclassifies that asset it its balance sheet separately from other assets.

12.Inventory

2p36(b) 1. Disclosethecarryingamountofinventoriesintotal,sub- classifiedbymaincategoriesappropriatetotheentity.For 2p37,1p78(c) example, merchandise, production supplies, materials, work in progress and finished goods.

2p36(c) 2. Disclosethecarryingamountofinventoriescarriedatfairvalue less costs to sell.

2p36(d)(e) 3. Disclosetheamountofinventoriesandtheamountofwrite- downrecognisedasexpensesduringtheperiod.

2p36(f)(g) 4. Disclosetheamountof,andcircumstancesoreventsleading to,thereversalofanywrite-downthatisrecognisedasa reductionintheamountofinventoriesrecognisedasexpensein the period.

2p36(h) 5. Disclosethecarryingamountofinventoriespledgedassecurity for liabilities.

1p60,61 6. Whereinventoriescombinecurrentandnon-currentamounts, disclosetheamountofthenon-currentportionthatisexpected toberecoveredorsettledaftermorethan12months.

13.Tradeandotherreceivables

1p77 1. Disclosereceivablesinamannerappropriatetotheentity’s operation,withthefollowingspecificdisclosures:1p78(b) (a)tradereceivables; (b)receivablesfromsubsidiaries(instandaloneaccounts); (c)receivablesfromrelatedparties(refertoSectionA5.21); (d)otherreceivables;and (e)pre-payments.

IFRS7p20(e) 2. Disclose impairment losses recognised during the period on receivables.

1p60,61 3. Wheretradeandotherreceivablescombinecurrentand non-currentamounts,disclosetheamountofthenon-current portionthatisexpectedtoberecoveredorsettledaftermore than 12 months.

14.Incometaxes

1p54(o) 1. Present deferred tax assets and deferred tax liabilities separately on the face of the balance sheet.

1p54(n) 2. Present current income tax assets and liabilities separately on the face of the balance sheet.

3. Classifydeferredtaxassets(liabilities)asnon-currentassets (liabilities)ifadistinctionbetweencurrentandnon-current assets and liabilities is made on the face of the balance sheet.

1p60,61 4. Disclosetheamountofthenon-currentportionofdeferredor currenttaxesthatisexpectedtoberecoveredorsettledafter more than 12 months.

12p71, For the offsetting rules of current tax assets and liabilities, refer 12p74 to IAS 12 para 71; for the offsetting rules of deferred tax assets and liabilities, refer to IAS 12 para 74.

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5. Disclose: 12p81(e) (a)theamount(andexpirydate,ifany)ofdeductibletemporary differences,unusedtaxlosses,andunusedtaxcreditsfor whichnodeferredtaxassetisrecognisedinthebalance sheet;and 12p81(f) (b)theaggregateamountoftemporarydifferencesassociated withinvestmentsinsubsidiaries,branchesandassociates andinterestsinjointventures,forwhichdeferredtax liabilitieshavenotbeenrecognised(IAS12para39).

12p81(g) 6. Inrespectofeachtypeoftemporarydifference,andinrespect ofeachtypeofunusedtaxlossesandunusedtaxcredits, disclose: (a)theamountofthedeferredtaxassetsandliabilities recognisedinthebalancesheetforeachperiodpresented; and (b)theamountofthedeferredtaxincomeorexpense recognisedintheincomestatement,ifthisisnotapparent from the changes in the amounts recognised in the balance sheet(forexample,wheretherearedeferredtaxitems chargedorcreditedtoequityduringtheperiod).

It is a helpful ‘proof’ to display the movements during the period in each category of temporary differences in the deferred tax account, although it is not required by IAS 12.

12p82 7. Disclose the amount of a deferred tax asset and the nature of theevidencesupportingitsrecognition,when: (a)theutilisationofthedeferredtaxassetisdependenton futuretaxableprofitsinexcessoftheprofitsarisingfromthe reversalofexistingtaxabletemporarydifferences;and (b)theentityhassufferedalossineitherthecurrentor precedingperiodinthetaxjurisdictiontowhichthedeferred tax asset relates.

12p81(a) 8. Disclosetheaggregatecurrentanddeferredtaxrelatingto itemschargedorcreditedtoequity.For deferred taxes, it is useful to disclose the analysis by category of temporary differences.

12p82A 9. Ifincometaxesarepayableatahigherorlowerrateifpartorall ofthenetprofitorretainedearningsispaidoutasadividend, disclose: (a)thenatureofthepotentialincometaxconsequencesthat wouldresultfromthepaymentofdividends;and (b)theamountsofthepotentialincometaxconsequences practicallydeterminable,andwhetherthereareanypotential incometaxconsequencesnotpracticallydeterminable.

15. Trade and other payables

1p77 1. Disclosepayablesinamannerappropriatetotheentity’s operations,withthefollowingspecificdisclosures: (a)tradepayables; (b)payablestosubsidiaries(instandaloneaccounts); (c)payablestorelatedparties. (d)otherpayables; (e)accruals;and (f) deferredincome.

1p60 2. Whereanyoftheaboveitemscombinecurrentandnon-current amounts,disclosetheamountofthenon-currentportionthat isexpectedtoberecoveredorsettledaftermorethan12 months.

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16.Provisions

1p78(d) Provisionsaredisaggregatedintoprovisionsforemployee benefitsandotheritems.

37p84 1. Foreachclassofprovision,disclose: (a)thecarryingamountatthebeginningoftheperiod; (b)exchangedifferencesfromthetranslationofforeignentities’ financialstatements; (c)provisionsacquiredthroughbusinesscombinations; (d)additionalprovisionsmadeintheperiodandincreasesto existingprovisions; (e)amountsused(incurredandchargedagainsttheprovision); (f) amountsreversedunused; (g)theincreaseduringtheperiodinthediscountedamount arising from the passage of time and the effect of any changeinthediscountrate;and (h)thecarryingamountattheendoftheperiod.

1p60 2. Whereanyprovisioncombinescurrentandnon-current amounts,disclosetheamountofthenon-currentportionthat isexpectedtoberecoveredorsettledaftermorethan12 months.

37p85 3. Foreachclassofprovision,provide: (a)abriefdescriptionofthenatureoftheobligationandofthe expectedtimingofanyresultingoutflowsofeconomic benefits; (b)anindicationoftheuncertaintiesabouttheamountortiming ofthoseoutflows(wherenecessarytoprovideadequate information,disclosethemajorassumptionsmade concerningfutureevents,asaddressedinIAS37para48); and (c)theamountofanyexpectedreimbursement,stating the amount of any asset that has been recognised for that expected reimbursement.

37p92 4. Inextremelyrarecases,disclosureofsomeorallofthe informationrequiredbyIAS37paras84-85canbeexpectedto prejudicethepositionoftheentityinadisputewithother partiesinrespectofthematterforwhichtheprovisionismade. Insuchasituation,theinformationdoesnotneedtobe disclosed,butthefollowingshouldbedisclosed: (a) thegeneralnatureofthedispute; (b)thefactthattheinformationhasnotbeendisclosed;and (c)thereasonwhythatinformationhasnotbeendisclosed.

34p26 5. If an estimate of an amount reported in an interim period – for example,aprovision–ischangedsignificantlyduringthe finalinterimperiodofthefinancialyearbutaseparatefinancial reportisnotpublishedforthatfinalinterimperiod,disclosethe nature and amount of that change in estimate in a note to the annualfinancialstatementsforthatfinancialyear.

This item is applicable only when the reporting entity publishes an interim financial report prepared in accordance with IAS 34.

17.Post-employmentbenefits–definedbenefitplans

1p60 1. Where the amounts recognised in the balance sheet combine currentandnon-currentamounts,disclosetheamountofthe non¬currentportion(wherethiscanbedetermined–referto IAS19para118)thatisexpectedtoberecoveredorsettled after more than 12 months.

19p120A(b) 2. Provideageneraldescriptionofthetypeofdefinedbenefit plan.

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19p120A(c) 3. Provideareconciliationofopeningandclosingbalancesofthe presentvalueofthedefinedbenefitobligationshowing separately,ifapplicable,theeffectsduringtheperiod attributabletoeachofthefollowing: (a)currentservicecost, (b)interestcost, (d)actuarialgainsandlosses, (e)foreigncurrencyexchangeratechangesonplansmeasured inacurrencydifferentfromtheentity’spresentation currency, (f) benefitspaid, (g)pastservicecost, (h)businesscombinations, (i) curtailments,and (j) settlements.

19p120A(d) 3. Provideananalysisofthedefinedbenefitobligationinto amountsarisingfromplansthatarewhollyunfundedand amountsarisingfromplansthatarewhollyorpartlyfunded.

19p120A(e) 4. Provideareconciliationoftheopeningandclosingbalances ofthefairvalueofplanassetsandoftheopeningandclosing balances of any reimbursement right recognised as an asset inaccordancewithIAS19para104A,showingseparately,if applicable,theeffectsduringtheperiodattributabletoeachof thefollowing: (a)expectedreturnonplanassets; (b)actuarialgainsandlosses; (c)foreigncurrencyexchangeratechangesonplansmeasured inacurrencydifferentfromtheentity’spresentation currency; (d)contributionsbytheemployer; (e)contributionsbyplanparticipants; (f) benefitspaid; (g)businesscombinations;and (h)settlements.

19p120A(f) 5. Provideareconciliationofthepresentvalueofthedefined benefitobligationinpara2aboveandthefairvalueoftheplan assetsinpara4abovetotheassetsandliabilitiesrecognisedin thebalancesheet,showingatleast: (a)thenetactuarialgainsorlossesnotrecognisedinthe balancesheet; (b)thepastservicecostnotrecognisedinthebalancesheet (refertoIAS19para96); (c)anyamountnotrecognisedasanasset,becauseofthelimit inIAS19para58(b); (d)thefairvalueatthebalancesheetdateofany reimbursement right recognised as an asset in accordance withIAS19para104A(withabriefdescriptionofthelink betweenthereimbursementrightandtherelatedobligation); and (e)theotheramountsrecognisedinthebalancesheet.

19p120A(g) 6. Providethetotalexpenserecognisedinprofitorlossforeachof thefollowing,andthelineitem(s)inwhichtheyareincluded: (a)currentservicecost; (b)interestcost; (c)expectedreturnonplanassets; (d)expectedreturnonanyreimbursementrightrecognisedas anassetinaccordancewithIAS19para104A; (e)actuarialgainsandlosses (f) pastservicecost; (g)theeffectofanycurtailmentorsettlement;and (h)theeffectofthelimitinIAS19para58(b).

19p120A(h), 7. Providethetotalamountrecognisedinthestatementof1p96(b) recognisedincomeandexpenseforeachofthefollowing: (a)actuarialgainsandlosses;and

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(b)theeffectofthelimitinIAS19para58(b).

19p120A(i), 8. Thecumulativeamountofactuarialgainsandlossesrecognised 1p96(b) in the statement of recognised income and expense.

19p120A(j) 9. Provideforeachmajorcategoryofplanassets–whichshould include,butisnotlimitedto,equityinstruments,debt instruments,property,andallotherassets–thepercentageor amountthateachmajorcategoryconstitutesofthefairvalueof the total plan assets.

19p120A(k) 6 10.Providetheamountsincludedinthefairvalueofplanassets for: (a)eachcategoryoftheentity’sownfinancialinstruments;and (b)anypropertyoccupiedby,orotherassetsusedby,the entity.

19p120A(l) 11.Provideanarrativedescriptionofthebasisusedtodetermine theoverallexpectedrateofreturnonassets,includingthe effectofthemajorcategoriesofplanassets.

19p120A(m) 12.Providetheactualreturnonplanassets,aswellastheactual return on any reimbursement right recognised as an asset in accordancewithIAS19para104A.

19p120A(n) 13.Providetheprincipalactuarialassumptionsusedasatthe balancesheetdate,including,whenapplicable: (a)thediscountrates; (b)theexpectedratesofreturnonanyplanassetsforthe periodspresentedinthefinancialstatements; (c)theexpectedratesofreturnfortheperiodspresentedin thefinancialstatementsonanyreimbursementright recognisedasanassetinaccordancewithpara104A; (d)theexpectedratesofsalaryincreases(andofchangesin anindexorothervariablespecifiedintheformalor constructivetermsofaplanasthebasisforfuturebenefit increases); (e)medicalcosttrendrates;and (f) anyothermaterialactuarialassumptionsused(suchas detailsofmortalityassumptions).

Discloseeachactuarialassumptioninabsoluteterms(for example,asanabsolutepercentage),notjustasamargin betweendifferentpercentagesorothervariables.

19p120A(o) 14.Providetheeffectofanincreaseofonepercentagepointand the effect of a decrease of one percentage point in the assumed medical cost trend rates on: (a)theaggregateofthecurrentservicecostandinterestcost componentsofnetperiodicpost-employmentmedical costs;and (b)theaccumulatedpost-employmentbenefitobligationfor medical costs.

All other assumptions should be held constant for the purposes ofthisdisclosure.Forplansoperatinginahighinflation environment,thedisclosureshouldbetheeffectofa percentage increase or decrease in the assumed medical costtrendrateofasignificancesimilartoonepercentage pointinalowinflationenvironment.

19p120A(p) 15.Providetheamountsforthecurrentannualperiodandprevious four annual periods of: (a)thepresentvalueofthedefinedbenefitobligation,thefair valueoftheplanassetsandthesurplusordeficitinthe plan;and (b)theexperienceadjustmentsarisingon: (i) theplanliabilitiesexpressedeitheras: −anamount;or − a percentage of the plan liabilities at the balance sheet date;and

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(ii) theplanassetsexpressedeitheras: −anamount;or − a percentage of the plan assets at the balance sheet date.

19p120A(q) 16.Providetheemployer’sbestestimate,assoonasitcan reasonablybedetermined,ofcontributionsexpectedtobepaid to the plan during the annual period beginning after the balance sheet date.

19p29(b) 17.Formulti-employerplansthataretreatedasdefinedbenefit plans,disclosetheinformationrequiredbyIAS19para120A.

19p30(b)(c) 18.Formulti-employerplansthataretreatedasadefined contributionplan,disclose; (a)thefactthattheplanisadefinedbenefitplan; (b)thereasonwhysufficientinformationisnotavailableto enabletheentitytoaccountfortheplanasadefinedbenefit plan;and (c)totheextentthatasurplusordeficitintheplanmayaffect the amount of future contribution: (i) anyavailableinformationaboutthatsurplusordeficit; (ii) thebasisusedtodeterminethatsurplusordeficit;and (iii)theimplications,ifany,fortheentity(referalsotoIAS 19paras32Aand32B).

19p34B (a)-(d)19.Foradefinedbenefitplanthatsharesrisksbetweenentities undercommoncontrol,disclose; (a)thecontractualagreementorstatedpolicyforchargingthe definedbenefitcostorthefactthatthereisnosuchpolicy; (b)thepolicyfordeterminingthecontributiontobepaidbythe entity; (c)iftheentityaccountsforanallocationofthenetdefined benefitcostinaccordancewithIAS19para34A,allthe informationabouttheplanasawholeinaccordancewith paras120-121(paras1-17above);and (d) iftheentityaccountsforthecontributionpayableforthe periodinaccordancewithIAS19para34A,information abouttheplanasawholerequiredinaccordancewithIAS 19paras120A(b)-(e),(j),(n),(o),(q)and121(items1-4,9, 13,14and16above)

18.Lease liabilities

Leases are financial instruments and therefore all the disclosure requirements of IFRS 7 apply also to leases – refer to Section A8.

Note: This section of the checklist applies to lessees. For lessors, refer to Section C4.

(a) Lessees–financeleases

17p31 1. Disclose: (a) thenetcarryingamountforeachclassofassetsatthe balancesheetdate; (b)areconciliationbetweenthetotalminimumleasepayments atthebalancesheetdate,andtheirpresentvalue; (c)thetotalofminimumleasepaymentsatthebalancesheet date,andtheirpresentvalue,foreachofthefollowing periods: (i) nolaterthanoneyear; (ii) laterthanoneyearbutnolaterthanfiveyears;and (iii)laterthanfiveyears; (d)theamountofcontingentrentsrecognisedintheincome statementfortheperiod; (e) thetotaloffutureminimumsubleasepaymentsexpectedto bereceivedundernon-cancellablesubleasesatthebalance sheetdate;and

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(f) ageneraldescriptionofthelessee’ssignificantleasing arrangements.Thiswouldinclude,butisnotlimitedto: (i) thebasisonwhichcontingentrentpaymentsare determined; (ii) theexistenceandtermsofrenewalorpurchaseoptions andescalationclauses;and (iii)restrictionsimposedbyleasearrangements,suchas thoseconcerningdividends,additionaldebtandfurther leasing.

The disclosure requirements of IAS 16, IAS 36, IAS 38, IAS 40 and IAS 41 apply to lessees for assets leased under finance leases.

(b)Lessees–operatingleases

17p35 1. Disclose: (a)thetotaloffutureminimumleasepaymentsundernon¬- cancellableoperatingleasesforeachofthefollowing periods: (i) nolaterthanoneyear; (ii) laterthanoneyearandnolaterthanfiveyears;and (iii)laterthanfiveyears. (b)thetotaloffutureminimumsubleasepaymentstobe receivedundernon-cancellablesubleasesatthebalance sheetdate; (c)leaseandsubleasepaymentsrecognisedintheincome statementfortheperiod,withseparateamountsfor minimumleasepayments,contingentrentsandsublease payments;and (d)ageneraldescriptionofthelessee’ssignificantleasing arrangements.Thiswouldinclude,butisnotlimitedto: (i) thebasisonwhichcontingentrentpaymentsare determined; (ii) theexistenceandtermsofrenewalorpurchaseoptions andescalationclauses;and (iii) restrictionsimposedbyleasearrangements,suchas thoseconcerningdividends,additionaldebtandfurther leasing.

17p65 2. ThedisclosurerequirementsaboutleasessetoutinSection A5.18alsoapplytosaleandleasebacktransactions.Any uniqueorunusualprovisionsintheagreementsortermsofthe sale and leaseback transactions should be separately disclosed.

IFRIC4pBC39 3. ThedisclosurerequirementssetoutinSectionA5.18alsoapply toleasesunderIFRIC4.

IFRIC4p15(b) 4. Ifapurchaser/lesseeconcludesthatitisimpracticaltoseparate the lease payments in an operating lease reliably from other payments,itshouldtreatallpaymentsundertheagreementas leasepaymentsforthepurposeofcomplyingwiththe disclosuresofIAS17,but: (a) disclosethosepaymentsseparatelyfromminimum lease payments that do not include payments for non-leaseelements;and (b)statethatthedisclosedpaymentsalsoinclude paymentsfornon-leaseelementsinthearrangement.

(c) Arrangementsthatdonotinvolvealeaseinsubstance

SIC27p10, 11 1. Forarrangementsthatdonotinvolvealeaseinsubstance, disclosethefollowing,individuallyforeacharrangement orinaggregateforeachclassofarrangement,ineachperiodin whichanarrangementexists: (a)adescriptionofthearrangementincluding: (i) theunderlyingassetandrestrictionsonitsuse; (ii) thelifeandothersignificanttermsofthearrangement; and

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(iii)thetransactionsthatarelinkedtogether,including anyoptions;and (b)theaccountingtreatmentappliedtoanyfeereceived,the amountrecognisedinincomeintheperiod,andtheline itemoftheincomestatementinwhichitisincluded.

19.Borrowingsandotherliabilities

Borrowingsarefinancialinstruments;therefore,allthe IFRS7disclosurerequirementsalsoapplytoborrowings.

1p60, 61 1. Disclosetheborrowingsclassifiedbetweencurrentandnon- currentportions,inaccordancewithIAS1paras69-74.

1p76 2. Inrespectofloansclassifiedascurrentliabilities,ifthefollowing eventsoccurbetweenthebalancesheetdateandthedatethe financialstatementsareauthorisedforissue,thoseevents qualifyfordisclosureasnon-adjustingeventsinaccordance withIAS10: (a)refinancingonalong-termbasis; (b)rectificationofabreachofalong-termloanagreement;and (c)thegrantingbythelenderofaperiodofgracetorectifya breachofalong-termloanagreementendingatleasttwelve months after the reporting period.

32p28 3. Theissuerofanon-derivativefinancialinstrumentshould evaluatethetermsofthefinancialinstrumenttodetermine whetheritcontainsbothaliabilityandanequitycomponent. Classifysuchcomponentsseparatelyasfinancialliabilities, financialassetsorequityinstruments,inaccordancewith IAS32para15.

20. Government grants

20p39(b)(c) 1. Disclose: (a)thenatureandextentofgovernmentgrantsrecognised; (b)anindicationofotherformsofgovernmentassistancefrom whichtheentityhasdirectlybenefited;and (c)unfulfilledconditionsandothercontingenciesrelatedto governmentassistancethathasbeenrecognised.

21.Related-partytransactions

24p9 1. Thedisclosuresinthefollowingparagraphapplytorelated parties,whichcomprisethefollowingentitiesandindividuals: (a)controllingshareholders(forexample,parentcompanies, individualcompaniesandtrusts); (b)subsidiariesandfellowsubsidiaries; (c)partiesthathaveaninterestintheentitythatgivesthem significantinfluenceovertheentity; (d)partiesthathavejointcontrolovertheentity; (e)associates; (f) jointventures; (g)theentity’sorparent’skeymanagementpersonnel; (h)closemembersofthefamilyofanyindividualreferredtoin (a),(b),(c),(d)or(g); (i) anentitythatiscontrolled,jointlycontrolledor significantlyinfluencedbyanyindividualreferredtoin(g) or(h),orforwhichsignificantvotingpowerintheentity resideswith,directlyorindirectly,anyindividualreferred toin(g)or(h);and (j) thepost-employmentbenefitplan.

24p12 2. Discloserelationshipsbetweenparentsandsubsidiaries irrespectiveofwhethertherehavebeentransactionsbetween thoserelatedparties.Disclosethenameoftheentity’sparent and,ifdifferent,theultimatecontrollingparty.Ifneitherthe

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entity’sparentnortheultimatecontrollingpartyproduces financialstatementsavailableforpublicuse,disclosethename of the next most senior parent that does so.

24p16 3. Disclosekeymanagementpersonnelcompensationintotaland foreachofthefollowingcategories: (a)short-termemployeebenefits; (b)post-employmentbenefits; (c)otherlong-termbenefits; (d)terminationbenefits;and (e)share-basedpayments.

24p17(a-d) 4. Wheretherehavebeentransactionsbetweenrelatedparties, disclose: (a)thenatureofrelated-partyrelationships; (b)typesoftransactions(forexample,goodsorservicessold/ purchased,managementservices,directors’remuneration andemoluments,loansandguarantees); (c)theamountoftransactions; (d)theamountofoutstandingbalances(includingtermsand conditions,securedornot,thenatureoftheconsiderationto beprovidedinsettlementandanguaranteesgivenor received); (e)provisionsfordoubtfuldebtsrelatedtotheamountof outstandingbalances;and (f) theexpenserecognisedduringtheperiodinrespectofbad or doubtful debts due from related parties.

24p18 5. Makethedisclosuresrequiredbyparagraph4aboveseparately foreachofthefollowingcategories: (a)theparent; (b)entitieswithjointcontrolorsignificantinfluenceoverthe entity; (c)subsidiaries; (d)associates; (e)jointventuresinwhichtheentityisaventurer; (f) entity’sorparent’skeymanagementpersonnel;and (g)otherrelatedparties.

24p20 IAS 24 para 20 contains examples of situations that may require disclosure.

24p22 6. Wherenecessaryforanunderstandingoftheeffectsofrelated- partytransactionsonthefinancialstatements,discloseitemsof similarnatureseparately,ratherthaninaggregate.

24p21 7. Onlyprovidedisclosuresthatrelated-partytransactionswere madeonanarm’slengthbasisifsuchtermscanbe substantiated.

32p34 8. Separatelyprovidedisclosureswheretheentityre-acquiresits ownequityinstrumentsfromrelatedparties,inaccordancewith IAS24para22.

19p34B 9. Participationinadefinedbenefitplanthatsharesrisks betweenvariousentitiesundercommoncontrol(forexample, aparentanditssubsidiaries)isarelated-partytransactionfor eachindividualgroupentity.Makethefollowingdisclosuresin theseparateorindividualfinancialstatements: (a)thecontractualagreementorstatedpolicyforchargingthe netdefinedbenefitcostorthefactthatthereisnosuch policy; (b)thepolicyfordeterminingthecontributiontobepaidbythe entity; (c)iftheentityaccountsforanallocationofthenetdefined benefitcostinaccordancewithIAS19para34A,allthe informationabouttheplanasawholeinaccordancewith IAS19paras120-121;and

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(d)iftheentityaccountsforthecontributionpayableforthe periodinaccordancewithIAS19para34A,theinformation abouttheplanasawholerequiredinaccordancewith IAS19paras120A(b)-(e),(j),(n),(o),(q)and121.Theother disclosuresrequiredbyIAS19para120Adonotapply.

22. Commitments

Disclose: 1. Theamountofcontractualcommitmentsfortheacquisitionof:16p74(c) (a) property,plantandequipment;and38p122(e) (b)intangibleassets.

40p75(h) 2. Contractual obligations: (a)topurchase,constructordevelopinvestmentproperty;and (b)forrepairs,maintenanceorenhancementsofinvestment property.

Refer also to the commitments in respect of lease agreements in Section A5.18 and commitments in respect of joint ventures in Section A5.9.

23.Contingencies

37p86 1. Discloseforeachclassofcontingentliability,unlessthe possibilityofanyoutflowinsettlementisremote: (a)abriefdescriptionofthenatureofthecontingentliability; (b)wherepracticable,disclosealso:37p86(a) (i) anestimateofitsfinancialeffect,measuredunder IAS37para36-52;37p86(b) (ii) anindicationoftheuncertaintiesabouttheamountor timingofanyoutflow;and 37p86(c) (iii)thepossibilityofanyreimbursement;and 37p91 (c)whereanyofthisinformationisnotdisclosedbecauseitis notpracticabletodoso,disclosethatfact.

37p88 2. Whereaprovisionandacontingentliabilityarisefromthesame setofcircumstances,showthelinkbetweentheprovisionand the contingent liability.

37p89 3. Discloseforcontingentassets,whereaninflowofeconomic benefitsisprobable: (a)abriefdescriptionofthenatureofthecontingentasset; (b)wherepracticable,anestimateoftheirfinancialeffect, measuredunderIAS37para36-52;and37p91 (c)wherethisinformationisnotdisclosedbecauseitisnot practicabletodoso,disclosethatfact.

37p92 4. Inextremelyrarecases,disclosureofsomeorallofthe informationrequiredbyIAS37paras86-89oncontingencies (items1to3above)canbeexpectedtoseriouslyprejudicethe positionoftheentityinadisputewithotherpartiesonthe subjectmatterofthecontingentliabilityorcontingentasset.In suchcases,theinformationneednotbedisclosedbutthe followingmustbedisclosed: (a)thegeneralnatureofthecontingencies; (b)thefactthattherequiredinformationhasnotbeen disclosed;and (c)thereasonwhyithasnotbeendisclosed.

5. Disclose contingent liabilities arising from: 19p125 (a) post-employmentbenefitobligations;and19p141 (b)terminationbenefits(forexample,duetotheuncertainty overthenumberofemployeeswhowillacceptanofferof terminationbenefits). Refer also to section A5.17B para 18. Refer also to the contingencies in respect of lease agreements in Section A5.18 and contingencies in respect of joint ventures in Section A5.9.

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24.Eventsafterthereportingperiod

10p12 1. Disclosetheamountofdividendsproposedordeclaredbefore1p125(a) thefinancialstatementswereauthorisedforissuebutnot recognisedasadistributiontoequityholdersduringtheperiod, and the related amount per share.

10p21 2. Whereeventsoccurringafterthebalancesheetdatedonot affect the condition of assets or liabilities at the balance sheet date(ie,non-adjusting)butareofsuchimportancethatnon- disclosurewouldaffecttheabilityoftheusersofthefinancial statementstomakeproperevaluationsanddecisions,disclose: (a)thenatureoftheevent;and (b) anestimateofthefinancialeffect,orastatementthatsuch an estimate cannot be made.

Examples of non-adjusting events that would generally require disclosure are provided in IAS 10 para 22.

IFRS 3p66(b) 3. Businesscombinations.Ifabusinesscombinationtakeseffect afterthebalancesheetdateandbeforethefinancial statementsareissued,makeallrelevantdisclosures(referto SectionA7).Ifitisimpracticabletodiscloseanyofthis information,disclosethisfactandanexplanationofwhythisis the case.

33p64 4. Ifthenumberofordinaryorpotentialordinaryshares outstandingincreasesasaresultofacapitalisation,bonus issueorsharesplit,ordecreasesasaresultofareverseshare split,adjustthecalculationofbasicanddilutedearningsper shareforallperiodspresentedretrospectively.

If these changes occur after the balance sheet date but before thefinancialstatementsareauthorisedforissue,basetheper sharecalculationsforthoseandanyprior-periodfinancial statementspresentedonthenewnumberofshares.

Disclosethefactthatper-sharecalculationsreflectsuch changesinthenumberofshares.Inaddition,adjustbasicand diluted earnings per share of all periods presented for the effectsoferrorsandadjustmentsresultingfromchangesin accountingpolicies,accountedforretrospectively.

33p70(d) 5. Provideadescriptionofordinarysharetransactionsorpotential ordinarysharetransactions–otherthancapitalisation,bonus issuesorsharesplits,forwhichthebasicanddilutedearnings pershareareadjustedretrospectively–thatoccurafterthe balancesheetdateandthatwouldhavechangedsignificantly the number of ordinary shares or potential ordinary shares outstanding at the end of the period if those transactions had occurred before the end of the reporting period.

Examples are provided in IAS 33 para 71.

12p81(i) 6. Disclosetheamountofincometaxconsequencesofdividends thatwereproposedordeclaredafterthebalancesheetdatebut beforethefinancialstatementswereauthorisedforissue.

12p82A 7. Ifincometaxesarepayableatahigherorlowerrateifpartorall ofthenetprofitorretainedearningsispaidoutasadividendto shareholders,disclose: (a)thenatureofthepotentialincometaxconsequencesthat wouldresultfromthepaymentofdividends;and (b)theamountsofthepotentialincometaxconsequences practicallydeterminableandwhetherthereareanypotential incometaxconsequencesnotpracticallydeterminable.

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10p19 8. Ifanentityreceivesinformationafterthebalancesheetdate aboutconditionsthatexistedatthebalancesheetdate, update the disclosures that relate to those conditions in the lightofthenewinformation.

A6 Statement of cash flows

1. General presentation

1. Classifycashflowsintothreeactivities:operating,investingand financingactivities.

7p18 2. Disclosecashflowsfromoperatingactivitiesusingeither: (a)thedirectmethod,disclosingmajorclassesofgrosscash receiptsorpayments;or (b)theindirectmethod,adjustingnetprofitandlossforthe effects of: (i) anytransactionsofanon-cashnature; (ii) anydeferralsoraccrualsofpastorfutureoperating cashreceiptsorpayments;and (iii)itemsofincomeorexpenseassociatedwithinvestingor financingcashflows.

7p21 3. Forcashflowsfrominvestingandfinancingactivities,disclose separatelymajorclassesofgrosscashreceiptsandgrosscash payments(exceptasnotedinpara4below).Forexample, proceedsfromnewborrowingshavetobedisplayedseparately fromrepaymentsofborrowings.

7p22 4. Thefollowingcashflowsarisingfromtheoperating,investing orfinancingactivitiesmaybereportedonanetbasis(IAS7 para23): (a)cashreceiptsandpaymentsonbehalfofcustomerswhen thecashflowsreflecttheactivitiesofthecustomerrather thanthoseoftheentity;and (b)cashreceiptsandpaymentsforitemsinwhichtheturnover isquick,theamountsarelargeandthematuritiesareshort.

7p43 5. Fornon-cashtransactions,excludefromthecashflow statementthoseinvestingandfinancingtransactionsthatdo notrequiretheuseofcashandcashequivalents.Disclose non-cashtransactionsseparatelyinthenotetothecashflow statement.

7p44 Examplesofnon-cashtransactionsare: (a)acquisitionofassetseitherbyassumingdirectlyrelated liabilitiesorbymeansofafinancelease; (b)acquisitionofanentitybymeansofanequityissue;and (c)conversionofdebttoequity.

2. Individualitems

1. Forcashflowsarisingfromtaxesonincome:7p35 (a)disclosetaxespaid;7p36 (b)classifytaxespaidascashflowsfromoperatingactivities unlessspecificallyidentifiedwithfinancingandinvesting activities;and (c)disclosethetotalamountoftaxespaidwhentaxcashflows areallocatedovermorethanoneclassofactivity.

7p31 2. Forcashflowsfrominterestanddividends,disclose: (a)interestreceived; (b)interestpaid; (c)dividendsreceived;and (d)dividendspaid.

Classifyeachoftheaboveitemsinaconsistentmannerfrom periodtoperiodaseitheroperating,investingorfinancing activities.

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7p33 Interestpaidisnormallyclassifiedaseitheroperatingor financingactivities.

7p33 Interestanddividendsreceivedarenormallyclassifiedaseither operatingorinvestingactivities.

7p34 Dividendspaidarenormallyclassifiedaseitherfinancingor operatingactivities.

7p39 3. Aggregatecashflowsarisingfromthefollowingarepresented separatelyandclassifiedasinvestingactivities: (a)acquisitions;and (b)disposalsofsubsidiariesorotherbusinessunits.

Refer also to the disclosure requirements for acquisitions and disposals in Section A7.

7p45 4. Forcashandcashequivalents,disclose: (a)thecomponents;and (b)reconciliationofamountsincashflowstatementwithcash andcashequivalentsinthebalancesheet.

7p48 5. Disclosetheamountofsignificantcashandcashequivalent balancesheldbytheentitythatarenotavailableforusebythe group,andprovideacommentarybymanagement.

IFRS5p33(c) 6. Discontinuedoperations.Disclosetheamountsofnetcash flowsfrom: (a)operatingactivities; (b)investingactivities;and (c)financingactivities. Thesedisclosuresmaybepresentedeitherinthenotesto,or onthefaceof,thefinancialstatements.

DV, 7p50 7. Voluntarydisclosures.Provideadditionalinformationrelevant tounderstandingthefinancialpositionandliquidityofanentity, and a commentary by management: (a)theamountofundrawnborrowingfacilitiesavailablefor futureoperatingactivitiesandtosettlecapital commitments,indicatinganyrestrictionsastotheuseof thesefacilities; (b)theaggregateamountsofthecashflowsfromeachof operating,investingandfinancingactivitiesrelatedto interestsinjointventuresreportedusingproportionate consolidation; (c)theaggregateamountofcashflowsthatrepresent increases in operating capacity separately from those cash flowsthatarerequiredtomaintainoperatingcapacity;and (d)theamountofcashflowsarisingfromtheoperating, investingandfinancingactivitiesofeachreportedindustry and geographical segment.

A7 Business combinations and disposals

1. Business combinations

IFRS3p67 1. For each business combination that took effect during the reportingperiod,disclose: (a)thenamesanddescriptionsofthecombiningentitiesor businesses; (b)theacquisitiondate; (c)detailsofanyoperationsthattheentityhasdecidedto disposeofasaresultofthecombination; (d)thepercentageofvotingequityinstrumentsacquired; (e)thecostofthecombinationandadescriptionofthe componentsofthatcost,includinganycostsdirectly attributabletothecombination.Whenequityinstruments areissuedorissuableaspartofthecost,thefollowing should also be disclosed:

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(i) thenumberofequityinstrumentsissuedorissuable; and (ii) thefairvalueofthoseinstrumentsandthebasis fordeterminingthatfairvalue.Ifapublishedprice does not exist for the instruments at the date of exchange,thesignificantassumptionsusedto determinefairvalueshouldbedisclosed.Ifapublished price exists at the date of exchange but has not been used as the basis for determining the cost of the combination,thatfactshouldbedisclosedtogether with: – thereasonswhythepublishedpricehasnotbeen used; – themethodandsignificantassumptionsusedto attributeavaluetotheequityinstruments;and – theaggregateamountofthedifferencebetweenthe valueattributedto,andthepublishedpriceof, theequityinstruments; (f) theamountsrecognisedattheacquisitiondateforeach classoftheacquiree’sassets,liabilitiesandcontingent liabilities,andthecarryingamountsofeachofthose classes,determinedinaccordancewithIFRS,immediately beforethecombination; (g)theamountofanyexcessrecognisedinprofitorlossin accordancewithIFRS3para56andthelineiteminthe incomestatementinwhichtheexcessisrecognised; (h)adescriptionofthefactorsthatcontributedtoacostthat resultsintherecognitionofgoodwill,includingadescription ofeachintangibleassetthatwasnotrecognisedseparately fromgoodwillandanexplanationofwhythefairvalueof thisassetcouldnotbemeasuredreliably,oradescriptionof thenatureofanyexcessrecognisedinprofitorloss;and (i) theamountoftheacquiree’sprofitorlosssincethe acquisitiondateincludedintheacquirer’sprofitorlossfor theperiod,unlessimpracticable.Ifsuchdisclosurewould beimpracticable,thatfactshouldbedisclosed,together withanexplanationofwhythisisthecase.

IFRS3p66(b) AllrelevantdisclosuresrequiredbyIFRS3shouldalsobemade for business combinations after the balance sheet date and beforethedateonwhichthefinancialstatementsareissued;if itisimpracticabletodiscloseanyofthisinformation,disclose thisfacttogetherwithanexplanationofwhythisisthecas

IFRS3p68 2. DisclosetheinformationrequiredunderIFRS3para67 (refertopara1above)inaggregateforbusinesscombinations that took effect during the reporting period and that are individuallyimmaterial.

7p40 3. Inrespectofacquisitionsofsubsidiariesorotherbusinessunits, disclose in aggregate: (a)thetotalpurchaseconsideration; (b)theportionofthetotalpurchaseconsiderationdischarged bymeansofcashandcashequivalents; (c)theamountofcashandcashequivalentsinthesubsidiary orbusinessunitacquired;and (d)theamountoftheassetsandliabilitiesotherthancashor cashequivalentsinthesubsidiaryorbusinessunitacquired, summarisedbyeachmajorcategory.

IFRS3p69 4. Iftheinitialaccountingforabusinesscombinationthattook effect during the reporting period has been determined only provisionally,disclosethatfact,togetherwithanexplanationof whythisisthecase,asdescribedinIFRS3para62.

5. Theacquirershouldalsodisclose: IFRS3p70 (a)therevenueofthecombinedentityfortheperiodasif theacquisitiondateforallbusinesscombinationsthattook effect during the reporting period had been at the beginning ofthatperiod;and

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(b)theprofitorlossofthecombinedentityfortheperiodasif theacquisitiondateforallbusinesscombinationsthattook effect during the reporting period had been at the beginning of that period. Ifdisclosureofthisinformationwouldbeimpracticable, disclosethatfact,togetherwithanexplanationofwhythisis the case.

IFRS3p73 6. Theacquirershouldalsodisclosethefollowinginformation relating to business combinations that took effect in the current orpreviousperiods: (a)theamountandanexplanationofanymaterialgainorloss recognisedinthecurrentreportingperiod; (b)theamountsandexplanationsoftheadjustmentstothe provisionalvaluesrecognisedduringthecurrentreporting period;and (c)theinformationabouterrorcorrectionsthattheacquirer recognisesduringthecurrentreportingperiod,asrequired byIAS8.

2. Disposals

7p40 1. Inrespectofdisposalsofsubsidiariesorotherbusinessunits, disclose in aggregate: (a)thetotaldisposalconsideration; (b) theportionofthetotaldisposalconsiderationdischargedby meansofcashandcashequivalents; (c)theamountofcashandcashequivalentsinthesubsidiary orbusinessunitdisposedof;and (d)theamountoftheassetsandliabilitiesotherthancashor cashequivalentsinthesubsidiaryorbusinessunitdisposed of,summarisedbyeachmajorcategory.

A8 Financial instruments


IFRS7p6 When IFRS 7 requires disclosures by class of financial instrument, AppxB1-B3 group the financial instruments into classes that are appropriate to the nature of the information disclosed. Take into account the characteristics of those financial instruments. Provide sufficient information to permit reconciliation to the line items presented in the balance sheet.

IFRs7p7 Discloseinformationthatenablesusersofthefinancial statementstoevaluatethesignificanceoffinancialinstruments forfinancialpositionandperformance

2. Categoriesoffinancialassetsandfinancialliabilities

IFRS7p8 Disclose either on the face of the balance sheet or in the notes thecarryingamountsofeachofthefollowingcategories,as definedinIAS39: (a) financialassetsatfairvaluethroughprofitorloss,showing separately: (i) thosedesignatedassuchuponinitialrecognition;and (ii) thoseclassifiedasheldfortradinginaccordancewith IAS39; (b) held-to-maturityinvestments; (c) loansandreceivables; (d) available-for-salefinancialassets; (e) financialliabilitiesatfairvaluethroughprofitorloss, showingseparately: (i) thosedesignatedassuchuponinitialrecognition;and (ii) thoseclassifiedasheldfortradinginaccordancewith IAS39;and (f) financialliabilitiesmeasuredatamortisedcost.

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3. Financialassetsorfinancialliabilitiesatfairvaluethrough profitorloss

IFRS7p9 1. Ifaloanorreceivable(orgroupofloansorreceivables)is designatedasatfairvaluethroughprofitorloss,disclose: (a) themaximumexposuretocreditrisk(seeIFRS7p36(a))of theloanorreceivable(orgroupofloansorreceivables)at thereportingdate; (b) theamountbywhichanyrelatedcreditderivativesorsimilar instrumentsmitigatethatmaximumexposuretocreditrisk; (c) theamountofchange,duringtheperiodandcumulatively, inthefairvalueoftheloanorreceivable(orgroupofloans orreceivables)thatisattributabletochangesinthecredit riskofthefinancialassetdeterminedeither: (i) astheamountofchangeinitsfairvaluethatisnot attributabletochangesinmarketconditionsthatgive risetomarketrisk;or (ii) usinganalternativemethodthattheentitybelieves more faithfully represents the amount of change in its fairvaluethatisattributabletochangesinthecreditrisk oftheasset.Changesinmarketconditionsthatgiveriseto marketriskincludechangesinanobserved(benchmark) interestrate,commodityprice,foreignexchangerateor indexofpricesorrates;and (d) theamountofthechangeinthefairvalueofanyrelated creditderivativesorsimilarinstrumentsthathasoccurred duringtheperiodandcumulativelysincetheloanor receivablewasdesignated.

IFRS7p10 2. Iftheentityhasdesignatedafinancialliabilityasatfairvalue throughprofitorlossinaccordancewithIAS39para9, disclose: (a) theamountofchange,duringtheperiodandcumulatively, inthefairvalueofthefinancialliabilitythatisattributableto changes in the credit risk of that liability determined either: (i) astheamountofchangeinitsfairvaluethatisnot attributabletochangesinmarketconditionsthatgive risetomarketrisk(seeIFRS7AppendixB4);or (ii) usinganalternativemethodthattheentitybelievesmore faithfully represents the amount of change in its fair valuethatisattributabletochangesinthecreditriskof the liability. Changes in market conditions that give rise to market risk include changes in a benchmark interest rate, the price of another entity’s financial instrument, a commodity price,a foreign exchange rate or an index of prices or rates. For contracts that include a unit-linking feature, changes in market conditions include changes in the performance of the related internal or external investment fund; and (b) thedifferencebetweenthefinancialliability’scarrying amountandtheamounttheentitywouldbecontractually requiredtopayatmaturitytotheholderoftheobligation

IFRS7p11 3. Disclose: AppxB4 (a) themethodsusedtocomplywiththerequirementsinIFRS7 para9(c)andIFRS7para10(a);and (b) iftheentitybelievesthatthedisclosureithasgivento complywiththerequirementsinIFRS7para9(c)and IFRS7para10(a)doesnotfaithfullyrepresentthechangein thefairvalueofthefinancialassetorfinancialliability attributabletochangesinitscreditrisk,thereasonsfor reachingthisconclusionandthefactorsitbelievesare relevant.

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4. Reclassification

IFRS7p12 1. Iftheentityhasreclassifiedafinancialasset(inaccordancewith paragraphsIAS39paras51-54)asonemeasured: (a) atcostoramortisedcost,ratherthanatfairvalue;or (b) atfairvalue,ratherthanatcostoramortisedcost, disclosetheamountreclassifiedintoandoutofeachcategory andthereasonforthatreclassification

An amendment to IAS 39, issued in October 2008, permits an entity to reclassify non-derivative financial assets (other than those designated at fair value through profit or loss by the entity upon initial recognition) out of the fair value through profit or loss category in particular circumstances. The amendment also permits an entity to transfer from the available-for-sale category to the loans and receivables category a financial asset that would have met the definition of loans and receivables (if the financial asset had not been designated as available for sale), if the entity has the intention and ability to hold that financial asset for the foreseeable future.

IFRS7p12A 2. Iftheentityhasreclassifiedafinancialassetoutofthefairvalue throughprofitorlosscategoryinaccordancewithIAS39 paras50Bor50Doroutoftheavailable-for-salecategoryin accordancewithparagraph50EofIAS39,disclose: (a) theamountreclassifiedintoandoutofeachcategory; (b) foreachreportingperioduntilderecognition,thecarrying amountsandfairvaluesofallfinancialassetsthathave beenreclassifiedinthecurrentandpreviousreporting periods; (c) ifafinancialassetwasreclassifiedinaccordancewith paragraph50B,theraresituation,andthefactsand circumstancesindicatingthatthesituationwasrare; (d) forthereportingperiodwhenthefinancialassetwas reclassified,thefairvaluegainorlossonthefinancialasset recognisedinprofitorlossorothercomprehensiveincome inthatreportingperiodandinthepreviousreportingperiod; (e) foreachreportingperiodfollowingthereclassification (includingthereportingperiodinwhichthefinancialasset wasreclassified)untilderecognitionofthefinancialasset, thefairvaluegainorlossthatwouldhavebeenrecognised inprofitorlossorothercomprehensiveincomeifthe financialassethadnotbeenreclassified,andthegain,loss, incomeandexpenserecognisedinprofitorloss;and (f) theeffectiveinterestrateandestimatedamountsofcash flowstheentityexpectstorecover,asatthedateof reclassificationofthefinancialasset.

5. Derecognition

IFRS7p13 Iffinancialassetshavebeentransferredinsuchawaythat partorallofthefinancialassetsdonotqualifyforderecognition (seeIAS39paras15-37),discloseforeachclassofsuch financialassets: (a) thenatureoftheassets; (b) thenatureoftherisksandrewardsofownershiptowhich theentityremainsexposed; (c) whentheentitycontinuestorecognisealloftheassets,the carrying amounts of the assets and of the associated liabilities;and (d) whentheentitycontinuestorecognisetheassetstothe extentofitscontinuinginvolvement,thetotalcarrying amountoftheoriginalassets,theamountoftheassetsthat theentitycontinuestorecognise,andthecarryingamount of the associated liabilities.

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6. Collateral

IFRS7p14 1. Disclose: (a) thecarryingamountoffinancialassetsthattheentityhas pledgedascollateralforliabilitiesorcontingentliabilities, includingamountsthathavebeenreclassifiedin accordancewithIAS39para37(a);and (b) thetermsandconditionsrelatingtoitspledge.

IFRS7p15 2. Whentheentityholdscollateral(offinancialornon-financial assets)andispermittedtosellorrepledgethecollateralinthe absenceofdefaultbytheownerofthecollateral,disclose: (a) thefairvalueofthecollateralheld; (b) thefairvalueofanysuchcollateralsoldorrepledged,and whethertheentityhasanobligationtoreturnit;and (c)thetermsandconditionsassociatedwithitsuseofthe collateral.

7. Allowanceaccountforcreditlosses

IFRS7p16 WhenfinancialassetsareimpairedbycreditlossesandtheAppxB1-B2, entityrecordstheimpairmentinaseparateaccount(forB5(d) example,anallowanceaccountusedtorecordindividual impairmentsorasimilaraccountusedtorecordacollective impairmentofassets)ratherthandirectlyreducingthecarrying amountoftheasset,discloseareconciliationofchangesinthat accountduringtheperiodforeachclassoffinancialassets.

8. Compoundfinancialinstrumentswithmultipleembedded derivatives

IFRS7p17 If the entity has issued an instrument that contains both a liabilityandanequitycomponent(IAS32para28)and theinstrumenthasmultipleembeddedderivativeswhose valuesareinterdependent(suchasacallableconvertibledebt instrument),disclosetheexistenceofthosefeatures.

9. Defaults and breaches

IFRS7p18 1. Forloanspayablerecognisedatthereportingdate,disclose: (a) detailsofanydefaultsduringtheperiodofprincipal, interest,sinkingfundorredemptiontermsofthoseloans payable; (b) thecarryingamountoftheloanspayableindefaultatthe reportingdate;and (c) whetherthedefaultwasremedied,orthetermsoftheloans payablewererenegotiated,beforethefinancialstatements wereauthorisedforissue.

IFRS7p19 2. Ifduringtheperiodtherewerebreachesofloanagreement termsotherthanthosedescribedinIFRS7para18,disclose thesameinformationasrequiredbyIFRS7para18ifthose breaches permitted the lender to demand accelerated repayment(unlessthebreacheswereremedied,orthetermsof theloanwererenegotiated,onorbeforethereportingdate).

10.Itemsofincome,expense,gainsorlosses

IFRS7p20 Disclosethefollowingitemsofincome,expense,gainsorAppxB1-B3, losseseitheronthefaceofthefinancialstatementsorintheB5(d) notes: (a) netgainsornetlosseson: (i) financialassetsorfinancialliabilitiesatfairvaluethrough profitorloss,showingseparatelythoseonfinancial assetsorfinancialliabilitiesdesignatedassuchupon initialrecognition,andthoseonfinancialassetsor

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financialliabilitiesthatareclassifiedasheldfortrading inaccordancewithIAS39; (ii) available-for-salefinancialassets,showingseparately theamountofgainorlossrecogniseddirectlyinequity duringtheperiodandtheamountremovedfromequity andrecognisedinprofitorlossfortheperiod; (iii) held-to-maturityinvestments; (iv) loansandreceivables;and (v) financialliabilitiesmeasuredatamortisedcost; (b) totalinterestincomeandtotalinterestexpense(calculated usingtheeffectiveinterestmethod)forfinancialassetsor financialliabilitiesthatarenotatfairvaluethroughprofitor loss; (c) feeincomeandexpense(otherthanamountsincludedin determiningtheeffectiveinterestrate)arisingfrom: (i) financialassetsorfinancialliabilitiesthatarenotatfair valuethroughprofitorloss;and (ii) trustandotherfiduciaryactivitiesthatresultinthe holdingorinvestingofassetsonbehalfofindividuals, trusts,retirementbenefitplansandotherinstitutions; (d) interestincomeonimpairedfinancialassetsaccruedin accordancewithIAS39AG93;and (e) theamountofanyimpairmentlossforeachclassof financialasset.

11. Other disclosures

(a)Accountingpolicies IFRS7p21 1. Discloseinthesummaryofsignificantaccountingpoliciesthe 1p117 measurementbasis(orbases)usedinpreparingthefinancial statements and the other accounting policies used that are relevanttoanunderstandingofthefinancialstatements.

IFRS7 DisclosurerequiredbyIFRS7para21mayinclude: AppxB5 (a) forfinancialassetsorfinancialliabilitiesdesignatedasatfair valuethroughprofitorloss: (i) thenatureofthefinancialassetsorfinancialliabilities theentityhasdesignatedasatfairvaluethroughprofit orloss; (ii) thecriteriafordesignatingsuchfinancialassetsor financialliabilitiesoninitialrecognition;and (iii) howtheentityhassatisfiedtheconditionsinIAS39 para9,IAS39para11AorIAS39para12forsuch designation. For instruments designated in accordance withIAS39para9(b)(i)ofthedefinitionofafinancial assetorfinancialliabilityatfairvaluethroughprofit orloss,includeanarrativedescriptionofthe circumstances underlying the measurement or recognitioninconsistencythatwouldotherwisearise. ForinstrumentsdesignatedinaccordancewithIAS39 para9(b)(ii)ofthedefinitionofafinancialassetor financialliabilityatfairvaluethroughprofitorloss, includeanarrativedescriptionofhowdesignationatfair valuethroughprofitorlossisconsistentwiththeentity’s documentedriskmanagementorinvestmentstrategy; (b) thecriteriafordesignatingfinancialassetsasavailable forsale; (c) whetherregularwaypurchasesandsalesoffinancialassets areaccountedforattradedateoratsettlementdate(see IAS39para38); (d) whenanallowanceaccountisusedtoreducethecarrying amountoffinancialassetsimpairedbycreditlosses: (i) thecriteriafordeterminingwhenthecarryingamountof impairedfinancialassetsisreduceddirectly(or,inthe caseofareversalofawrite-down,increaseddirectly) andwhentheallowanceaccountisused;and

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(ii) thecriteriaforwritingoffamountschargedtothe allowanceaccountagainstthecarryingamountof impairedfinancialassets(seeIFRS7para16); (e) hownetgainsornetlossesoneachcategoryoffinancial instrumentaredetermined(seeIFRS7para20(a)),for example,whetherthenetgainsornetlossesonitemsatfair valuethroughprofitorlossincludeinterestordividend income; (f) thecriteriatheentityusestodeterminethatthereis objectiveevidencethatanimpairmentlosshasoccurred (seeIFRS7para20(e));and (g) whenthetermsoffinancialassetsthatwouldotherwisebe pastdueorimpairedhavebeenrenegotiated,the accountingpolicyforfinancialassetsthatarethesubjectof renegotiatedterms(seeIFRS7para36(d)).

2. Disclose,inthesummaryofsignificantaccountingpoliciesor othernotes,thejudgements,apartfromthoseinvolving estimations,thatmanagementhasmadeintheprocessof applyingtheentity’saccountingpoliciesandthathavethe mostsignificanteffectontheamountsrecognisedinthe financialstatements(seeIAS1para122).

(b) Hedgeaccounting

IFRS7p22 1. Disclosethefollowingseparatelyforeachtypeofhedge describedinIAS39(ie,fairvaluehedges,cashflowhedgesand hedgesofnetinvestmentsinforeignoperations): (a) adescriptionofeachtypeofhedge; (b) adescriptionofthefinancialinstrumentsdesignatedas hedginginstrumentsandtheirfairvaluesatthereporting date;and (c) thenatureoftherisksbeinghedged.

IFRS7p23 2. Forcashflowhedges,disclose: (a) theperiodswhenthecashflowsareexpectedtooccurand whentheyareexpectedtoaffectprofitorloss; (b) adescriptionofanyforecasttransactionforwhichhedge accountinghadpreviouslybeenused,butwhichisno longerexpectedtooccur; (c) theamountthatwasrecognisedinequityduringtheperiod; (d) theamountthatwasremovedfromequityandincludedin profitorlossfortheperiod,showingtheamountincludedin eachlineitemintheincomestatement;and (e) theamountthatwasremovedfromequityduringtheperiod and included in the initial cost or other carrying amount of a non-financialassetornon-financialliabilitywhose acquisitionorincurrencewasahedgedhighlyprobable forecast transaction.

IFRS7p24 3. Discloseseparately: (a) infairvaluehedges,gainsorlosses: (i) onthehedginginstrument;and (ii) onthehedgeditemattributabletothehedgedrisk; (b) theineffectivenessrecognisedinprofitorlossthatarises fromcashflowhedges;and (c) theineffectivenessrecognisedinprofitorlossthatarises fromhedgesofnetinvestmentsinforeignoperations.

IFRIC16p17 4. Ifthestep-by-stepmethodofconsolidationisused,disclose whethertheentityhaschosentoadjusttheamounts reclassifiedtoprofitorlossonadisposal(orpartialdisposal) of a foreign operation to the amount that arises under the direct method.

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(c) Fairvalue

IFRS7p25 1. ExceptassetoutinIFRS7para29,foreachclassoffinancialAppxB1-B3 assetsandfinancialliabilities(seeIFRS7para6),disclosethe fairvalueofthatclassofassetsandliabilitiesinawaythat permitsittobecomparedwithitscarryingamount.

IFRS7p26 Indisclosingfairvalues,groupfinancialassetsandfinancialAppxB1-B3 liabilitiesintoclasses,butoffsetthemonlytotheextentthat theircarryingamountsareoffsetinthestatementoffinancial position.

IFRS7p27 2. DiscloseforeachclassoffinancialinstrumentthemethodsAppx B1-B3 and,whenavaluationtechniqueisused,theassumptions appliedindeterminingfairvaluesofeachclassoffinancial assetsorfinancialliabilities.Forexample,ifapplicable,an entity discloses information about the assumptions relating toprepaymentrates,ratesofestimatedcreditlosses,and interest rates or discount rates. If there has been a change in valuationtechnique,disclosethatchangeandthereasonsfor making it.

IFRS7p27A 3. Tomakethedisclosuresrequiredbyparagraph27B,classify fairvaluemeasurementsusingafairvaluehierarchythatreflects thesignificanceoftheinputsusedinmakingthe measurements.

Thefairvaluehierarchyhasthefollowinglevels: (a) quotedprices(unadjusted)inactivemarketsforidentical assetsorliabilities(Level1); (b) inputsotherthanquotedpricesincludedwithinLevel1that areobservablefortheassetorliability,eitherdirectly(thatis, asprices)orindirectly(thatis,derivedfromprices)(Level2); and (c) inputsfortheassetorliabilitythatarenotbasedon observablemarketdata(unobservableinputs)(Level3).

Thelevelinthefairvaluehierarchywithinwhichthefairvalue measurement is categorised in its entirety is determined on the basisofthelowestlevelinputthatissignificanttothefairvalue measurementinitsentirety.Thesignificanceofaninput isassessedagainstthefairvaluemeasurementinitsentirety. Ifafairvaluemeasurementusesobservableinputsthatrequire significantadjustmentbasedonunobservableinputs,that measurementisaLevel3measurement.Assessingthe significanceofaparticularinputtothefairvaluemeasurement initsentiretyrequiresjudgement,consideringfactorsspecificto the asset or liability.

IFRS7p27B 4. Forfairvaluemeasurementsrecognisedinthestatementof financialposition,discloseforeachclassoffinancial instrument: (a) thelevelinthefairvaluehierarchyintowhichthefair valuemeasurementsarecategorisedintheirentirety, segregatingfairvaluemeasurementsinaccordancewiththe levelsdefinedinIFRS7para27A. (b)anysignificanttransfersbetweenLevel1andLevel2ofthe fairvaluehierarchyandthereasonsforthosetransfers. Transfersintoeachlevelaredisclosedanddiscussed separatelyfromtransfersoutofeachlevel.Forthispurpose, significanceisjudgedwithrespecttoprofitorloss,andtotal assetsortotalliabilities; (c)forfairvaluemeasurementsinLevel3ofthefairvalue hierarchy,areconciliationfromthebeginningbalances totheendingbalances,disclosingseparatelychanges duringtheperiodattributabletothefollowing: (i) totalgainsorlossesfortheperiodrecognisedinprofit orloss,andadescriptionofwheretheyarepresentedin thestatementofcomprehensiveincomeortheseparate incomestatement(ifpresented);

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(ii) totalgainsorlossesrecognisedinothercomprehensive income; (iii) purchases,sales,issuesandsettlements(eachtypeof movementdisclosed(a)separately);and (iv) transfersintooroutofLevel3(forexample,transfers attributabletochangesintheobservabilityofmarket data)andthereasonsforthosetransfers.Forsignificant transfers,transfersintoLevel3aredisclosedand discussedseparatelyfromtransfersoutofLevel3; (d)theamountoftotalgainsorlossesfortheperiodin(c)(i) includedinprofitorlossthatareattributabletogainsor losses relating to those assets and liabilities held at the end ofthereportingperiodandadescriptionofwherethose gains or losses are presented in the statement of comprehensiveincomeortheseparateincomestatement(if presented);and (e) forfairvaluemeasurementsinLevel3,ifchangingoneor moreoftheinputstoreasonablypossiblealternative assumptionswouldchangefairvaluesignificantly,thenthe entity states that fact and discloses the effect of those changes.Theentitydiscloseshowtheeffectofachangeto areasonablypossiblealternativeassumptionwas calculated.Forthispurpose,significanceisjudgedwith respecttoprofitorloss,andtotalassetsortotalliabilities, or,whenchangesinfairvaluearerecognisedinother comprehensiveincome,totalequity.

DisclosethequantitativedisclosuresinIFRS7para27Bin tabular format unless another format is more appropriate.

IFRS7p28 5. Ifthemarketforafinancialinstrumentisnotactive,itsfairvalue isestablishedusingavaluationtechnique(seeIAS39 AG74-79).Thebestevidenceoffairvalueatinitialrecognition isthetransactionprice(ie,thefairvalueoftheconsideration givenorreceived),unlessconditionsdescribedinIAS39AG76 aremet.Therecouldbeadifferencebetweenthefairvalue atinitialrecognitionandtheamountthatwouldbedetermined atthatdateusingthevaluationtechnique.Ifsuchadifference exists,disclose,byclassoffinancialinstrument: (a) theaccountingpolicyforrecognisingthatdifferenceinprofit orlosstoreflectachangeinfactors(includingtime)that marketparticipantswouldconsiderinsettingaprice(see IAS39AG76A);and (b) theaggregatedifferenceyettoberecognisedinprofitor loss at the beginning and end of the period and a reconciliation of changes in the balance of this difference.

IFRS7p29 6. Disclosuresoffairvaluearenotrequired: (a) whenthecarryingamountisareasonableapproximationof fairvalue(forexample,forfinancialinstrumentssuchas short-termtradereceivablesandpayables); (b) foraninvestmentinequityinstrumentsthatdonothavea quotedmarketpriceinanactivemarket,orderivatives linkedtosuchequityinstruments,thatismeasuredatcost inaccordancewithIAS39becauseitsfairvaluecannotbe measuredreliably;or (c) foracontractcontainingadiscretionaryparticipationfeature (asdescribedinIFRS4)ifthefairvalueofthatfeature cannot be measured reliably.

IFRS7p30 7. InthecasesdescribedinIFRS7para29(b)and(c),disclose informationtohelpusersofthefinancialstatementsmaketheir ownjudgementsabouttheextentofpossibledifferences betweenthecarryingamountofthosefinancialassetsor financialliabilitiesandtheirfairvalue,including: (a) thefactthatfairvalueinformationhasnotbeendisclosed fortheseinstrumentsbecausetheirfairvaluecannotbe measuredreliably; (b) adescriptionofthefinancialinstruments,theircarrying

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amount,andanexplanationofwhyfairvaluecannotbe measuredreliably; (c) informationaboutthemarketfortheinstruments; (d) informationaboutwhetherandhowtheentityintendsto disposeofthefinancialinstruments;and (e) iffinancialinstrumentswhosefairvaluepreviouslycouldnot bereliablymeasuredarederecognised,thatfact,their carryingamountatthetimeofderecognition,andthe amount of gain or loss recognised.

12.Natureandextentofrisksarisingfromfinancialinstruments

IFRS7p31 Discloseinformationthatenablesusersofthefinancial statementstoevaluatethenatureandextentofrisksarising fromfinancialinstrumentstowhichtheentityisexposedatthe reporting date.

IFRS7 The disclosures required by IFRS 7 paras 31-42 should either AppdxB6 be given in the financial statements or incorporated by cross- reference from the financial statements to some other statement, such as a management commentary or risk report, that is available to users of the financial statements on the same terms as the financial statements and at the same time. Without the information incorporated by cross-reference, the financial statements are incomplete.

IFRS7p32 ThedisclosuresrequiredbyIFRS7para33-42focusonthe risksthatarisefromfinancialinstrumentsandhowtheyhave beenmanaged.Theseriskstypicallyinclude,butarenotlimited to,creditrisk,liquidityriskandmarketrisk.

13.Qualitativedisclosures IFRS7p33 Foreachtypeofriskarisingfromfinancialinstruments, disclose: (a) theexposurestoriskandhowtheyarise; (b) objectives,policiesandprocessesformanagingtherisk andthemethodsusedtomeasuretherisk;and (c) anychangesin(a)or(b)fromthepreviousperiod.

14.Quantitativedisclosures

IFRS7p34 1. Foreachtypeofriskarisingfromfinancialinstruments,AppdxB7, disclose: B10A (a) summaryquantitativedataaboutexposuretothatriskatthe reporting date. This disclosure should be based on the informationprovidedinternallytokeymanagement personneloftheentity(asdefinedinIAS24),forexample theentity’sboardofdirectorsorchiefexecutiveofficer; (b) thedisclosuresrequiredbyIFRS7para36-42,totheextent notprovidedin(a),unlesstheriskisnotmaterial(seeIAS1 paras29-31foradiscussionofmateriality);and (c) concentrationsofriskifnotapparentfrom(a)and(b).

IFRS7 IFRS7para34(c)requiresdisclosuresaboutconcentrationsofAppdxB8 risk.Concentrationsofriskarisefromfinancialinstrumentsthat havesimilarcharacteristicsandareaffectedsimilarlyby changesineconomicorotherconditions.Theidentification ofconcentrationsofriskrequiresjudgement,takinginto account the circumstances of the entity. Include in the disclosure of concentrations of risk: (a) adescriptionofhowmanagementdetermines concentrations; (b) adescriptionofthesharedcharacteristicthatidentifies eachconcentration(forexample,counterparty,geographical area,currencyormarket);and (c) theamountoftheriskexposureassociatedwithallfinancial instruments sharing that characteristic.

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IFRS7p35 2. Ifthequantitativedatadisclosedasatthereportingdateis unrepresentativeoftheentity’sexposuretoriskduringthe period,providefurtherinformationthatisrepresentative.

(a)Creditrisk

IFRS7p36 Disclosebyclassoffinancialinstrument: AppdxB9-10 (a) theamountthatbestrepresentstheentity’smaximum exposuretocreditriskatthereportingdatewithouttaking account of any collateral held or other credit enhancements (forexample,nettingagreementsthatdonotqualifyfor offsetinaccordancewithIAS32); (b) inrespectoftheamountdisclosedin(a),adescriptionof collateralheldassecurityandothercreditenhancements; (c) informationaboutthecreditqualityoffinancialassetsthat areneitherpastduenorimpaired;and (d) thecarryingamountoffinancialassetsthatwould otherwisebepastdueorimpairedwhosetermshavebeen renegotiated.

Financial assets that are either past due or impaired IFRS7p37 Disclosebyclassoffinancialasset: (a) ananalysisoftheageoffinancialassetsthatarepastdue asatthereportingdatebutnotimpaired; (b) ananalysisoffinancialassetsthatareindividually determinedtobeimpairedasatthereportingdate, including the factors the entity considered in determining thattheyareimpaired;and (c) fortheamountsdisclosedin(a)and(b),adescriptionof collateral held by the entity as security and other credit enhancementsand,unlessimpracticable,anestimateof theirfairvalue.

Collateral and other credit enhancements obtained IFRS7p38 1. Whenanentityobtainsfinancialornon-financialassetsduring the period by taking possession of collateral it holds as security orcallingonothercreditenhancements(forexample, guarantees),andsuchassetsmeettherecognitioncriteriain otherstandards,disclose: (a) thenatureandcarryingamountoftheassetsobtained;and (b) whentheassetsarenotreadilyconvertibleintocash,the policies for disposing of such assets or for using them in its operations.

(b)Liquidityrisk

IFRS7p39 Disclose: AppdxB10A (a) amaturityanalysisfornon-derivativefinancialliabilities-B11A, (includingissuedfinancialguaranteecontracts)thatshowstheB11C, remainingcontractualmaturities; B11D, (b)amaturityanalysisforderivativefinancialliabilities.ThematurityB11E and analysis should include the remaining contractual maturities that B11F are essential for an understanding of the timing of the cash flows;and (c) adescriptionofhowtheliquidityriskinherentin(a)and(b).

IFRS7 In preparing the contractual maturity analysis for financial liabilities AppdxB11 required by IFRS 7 para 39(a) and (b), use judgement to determine an appropriate number of time bands. For example, an entity might determine that the following time bands are appropriate: (a) no later than one month; (b) later than one month and no later than three months; (c) later than three months and no later than one year; and (d) later than one year and no later than five years.

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(c)Marketrisk

Sensitivity analysis IFRS7p40 UnlessanentitycomplieswithIFRS7para41,disclose: AppdxB17- (a) asensitivityanalysisforeachtypeofmarketrisktowhichtheB19 and entityisexposedattheendofthereportingperiod,showingB21-B28 howprofitorlossandequitywouldhavebeenaffectedby changesintherelevantriskvariablethatwerereasonably possibleatthatdate; (b) themethodsandassumptionsusedinpreparingthesensitivity analysis;and (c) changesfromthepreviousperiodinthemethodsand assumptionsused,andthereasonsforsuchchanges.

IFRS7p41 Iftheentitypreparesasensitivityanalysis,suchasvalueatrisk,AppdxB20 thatreflectsinterdependenciesbetweenriskvariables(forexample, interestratesandexchangerates)andusesittomanagefinancial risks,itmayusethatsensitivityanalysisinplaceoftheanalysis specifiedinIFRS7para40.Alsodisclose: (a) anexplanationofthemethodusedinpreparingsucha sensitivityanalysis,andofthemainparametersand assumptionsunderlyingthedataprovided;and (b) anexplanationoftheobjectiveofthemethodusedandof limitationsthatmayresultintheinformationnotfullyreflecting thefairvalueoftheassetsandliabilitiesinvolved.

IFRS7p42 Other market risk disclosures WhenthesensitivityanalysesdisclosedinaccordancewithIFRS7 para40orIFRS7para41areunrepresentativeofariskinherent inafinancialinstrument(forexample,becausetheyear-end exposuredoesnotreflecttheexposureduringtheyear),disclose thatfactandthereasonthesensitivityanalysesare unrepresentative.

IFRIC2p13 When a change in the redemption prohibition leads to a transfer betweenfinancialliabilitiesandequity,discloseseparatelythe amount,timingandreasonforthattransfer.

15. Capital disclosures

1p134,135 1. Discloseinformationthatenablesusersofitsfinancial statementstoevaluateitsobjectives,policiesandprocessesfor managing capital.

1p135 2. Tocomplywithparagraph134,disclosethefollowing: (a) qualitativeinformationaboutitsobjectives,policiesand processesformanagingcapital,including(butnotlimited to): (i) adescriptionofwhatitmanagesascapital; (ii) whenanentityissubjecttoexternallyimposedcapital requirements,thenatureofthoserequirementsand howthoserequirementsareincorporatedintothe managementofcapital;and (iii) howitismeetingitsobjectivesformanagingcapital; (b) summaryquantitativedataaboutwhatitmanagesas capital.Someentitiesregardsomefinancialliabilities (forexample,someformsofsubordinateddebt)aspartof capital. Other entities regard capital as excluding some componentsofequity(forexample,componentsarising fromcashflowhedges); (c) anychangesin(a)and(b)fromthepreviousperiod; (d) whetherduringtheperioditcompliedwithanyexternally imposedcapitalrequirementstowhichitissubject;and (e) whentheentityhasnotcompliedwithsuchexternally imposedcapitalrequirements,theconsequencesofsuch non-compliance.

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Basethesedisclosuresontheinformationprovidedinternallyto theentity’skeymanagementpersonnel.

1p136 An entity may manage capital in a number of ways and be subject to a number of different capital requirements. For example, a conglomerate may include entities that undertake insurance activities and banking activities, and those entities may also operate in several jurisdictions. When an aggregate disclosure of capital requirements and how capital is managed would not provide useful information or distorts a financial statement user’s understanding of an entity’s capital resources, the entity should disclose separate information for each capital requirement to which the entity is subject.

1p80A(a) 5. Ifanentityhasreclassifiedaputtablefinancialinstrument classifiedasanequityinstrumentbetweenfinancialliabilities andequity,disclose: (a) theamountreclassifiedintoandoutofeachcategory (financialliabilitiesorequity);and (b) thetimingandreasonforthatreclassification.

1p136A 6. Discloseforputtablefinancialinstrumentsclassifiedasequity instruments(totheextentnotdisclosedelsewhere):1p136A(a) (a) summaryquantitativedataabouttheamountclassifiedas equity;1p136A(b) (b) itsobjectives,policiesandprocessesformanagingits obligationtorepurchaseorredeemtheinstrumentswhen requiredtodosobytheinstrumentholders,includingany changesfromthepreviousperiod;1p136A(c) (c) theexpectedcashoutflowonredemptionorrepurchaseof thatclassoffinancialinstruments;and1p136A(d) (d) informationabouthowtheexpectedcashoutflowon redemptionorrepurchasewasdetermined.

1p136A(b) 7. Ifanentityhasreclassifiedaninstrumentthatimposesonthe entityanobligationtodelivertoanotherpartyaprorata shareofthenetassetsoftheentityonlyonliquidationandis classifiedasanequityinstrumentbetweenfinancialliabilities andequity,disclose: (a) theamountreclassifiedintoandoutofeachcategory (financialliabilitiesorequity);and (b) thetimingandreasonforthatreclassification.

1p136A(a),(b) 8. Discloseinrelationtodividends: (a) theamountofdividendsproposedordeclaredbefore thefinancialstatementswereauthorisedforissuebutnot recognisedasadistributiontoownersintheperiod,andthe relatedamountpershare;and (b)theamountofanycumulativepreferencedividendsnot recognised.

16.Financialguarantees

Amendments to IAS 39 and IFRS 4, Financial Guarantee Contracts, was issued in August 2005.

The issuer of financial guarantee contracts may elect to apply either IFRS 4 (if the entity has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts) or IAS 39 for measurement of financial guarantee contracts.

If the entity elects to apply IFRS 4, it should comply with IFRS 4 disclosure requirements to such contracts (refer to Section E).

If the entity elects to apply IAS 39 for measurement of financial guarantee contracts, it should comply with IFRS 7 disclosure requirements for these contracts.

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A9 Non-current assets held for sale and discontinued operations

The following disclosures are required when an entity has non- current assets held for sale and/or discontinued operations as defined by IFRS 5.

IFRS5p38 1. Present separately from other assets in the balance sheet a 1p55 non-currentassetclassifiedasheldforsaleandtheassetsofa disposalgroupclassifiedasheldforsale(withincurrentassets).

IFRS5p38 2. Do not offset the assets and liabilities of a disposal group and 1p55 do not present as a single amount. Present the liabilities of adisposalgroupclassifiedasheldforsaleseparately(classified ascurrentliabilities)fromotherliabilitiesinthebalancesheet

IFRS5p38 3. Discloseseparatelythemajorclassesofassetsandliabilities classifiedasheldforsaleeitheronthefaceofthebalance sheetorinthenotestothefinancialstatements.

IFRS5p39 4. Disclosureofthemajorclassesofassetsandliabilitiesisnot requiredifthedisposalgroupisanewlyacquiredsubsidiary thatmeetsthecriteriatobeclassifiedasheldforsaleon acquisition.

IFRS5p38 5. Discloseseparatelyanycumulativeincomeorexpanse recogniseddirectlyinequityrelatingtoanon-currentasset(or disposalgroup)classifiedasheldforsale.

IFRS5p40 6. Amountspresentedfornon-currentassetsorfortheassets andliabilitiesofdisposalgroupsclassifiedasheldforsaleinthe balancesheetsforpriorperiodsshouldnotbereclassifiedorre- presentedtoreflecttheclassificationinthebalancesheetfor the latest period presented.

IFRS5p41 7. Foranon-currentasset(ordisposalgroup)heldforsaleorsold, disclose: (a) adescriptionofthenon-currentasset(ordisposalgroup); (b)adescriptionofthefactsandcircumstancesleadingtothe expected disposal and the expected manner and timing of thatdisposal; (c)thegainorlossrecognisedasresultofremeasurementto fairvaluelesscoststosell,andifnotseparatelypresented onthefaceoftheincomestatement,thecaptioninthe incomestatementthatincludesthatgainorloss;and (d)thesegmentinwhichthenon-currentasset(ordisposal group)ispresentedunderIAS14,ifapplicable.

IFRS5p12 8. Disclosetheinformationspecifiedinpara5(a),(b)and(d) aboveinthenotesifthecriteriaforclassificationofnon-current assets(ordisposalgroups)asheldforsale(refertoIFRS5 paras7and8)aremetafterthebalancesheetdatebutbefore theauthorisationofthefinancialstatementsforissue.

IFRS5p42 9. Ifanon-currentasset(ordisposalgroup)ceasestobeheld forsale,discloseadescriptionofthefactsandcircumstances leadingtothedecisiontochangetheplantosellthenon- currentasset(ordisposalgroup),togetherwiththeeffectof the decision on the results of operations for the period and any prior periods presented.

IFRS5p33 10.Fordiscontinuedoperations,disclosethefollowingforall periods presented: 12p81(h) (a)asingleamountonthefaceoftheincomestatement comprising the total of: (i) thepost-taxprofitorlossofdiscontinuedoperations; and (ii) thepost-taxgainorlossrecognisedonthe remeasurementtofairvaluelesscoststoselloronthe disposaloftheassetsordisposalgroup(s)constituting thediscontinuedoperation;and

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(b)ananalysisofthesingleamountin(a)into: (i) therevenue,expensesandpre-taxprofitorlossof discontinuedoperations; (ii) thegainorlossrecognisedontheremeasurementto fairvaluelesscoststoselloronthedisposalofthe assetsordisposalgroup(s)constitutingthediscontinued operation;and (iii)thetaxexpenserelatingto: −thegainorlossondiscontinuance;and −theprofitorlossfromtheordinaryactivitiesof thediscontinuedoperationfortheperiod,together withthecorrespondingamountsforeachpriorperiod presented.

The analysis may be given in the notes or on the face of the income statement. If it is given on the face of the income statement, it should be presented in a section relating to discontinued operations separate from continuing operations.

The analysis is not required if the disposal group is a newly acquired subsidiary that meets the criteria to be classified as held for sale on acquisition.

IFRS5p34 11.Re-presentthedisclosuresinpara7aboveandA6.2para6for priorperiodspresentedinthefinancialstatementssothatthe disclosuresrelatetoalloperationsthathavebeendiscontinued by the balance sheet date for the latest period presented.

IFRS5p35 12.Presentseparatelyindiscontinuedoperationsanyadjustments inthecurrentperiodtoamountspreviouslypresented in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period. The natureandamountofsuchadjustmentsshouldbedisclosed

IFRS5p36 13.Ifacomponentofanentityceasestobeclassifiedasheldfor sale,reclassifytheresultsofoperationsofthecomponent previouslypresentedindiscontinuedoperationsandinclude it in income from continuing operations for all periods presented.Disclosetheamountsforpriorperiodsashaving beenre-presented.

IFRS5p36A Presenting discontinued operations Anentitythatiscommittedtoasaleplaninvolvingthelossof controlofasubsidiarydisclosestheinformationrequiredby IFRS5para33topara36whenthesubsidiaryisadisposal groupthatmeetsthedefinitionofadiscontinuedoperationin accordancewithIFRS5para32.

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B1 Correction of prior-period errors

8p49 1. Disclose: (a) thenatureoftheprior-perioderror; (b) foreachpriorperiodpresented,totheextentpracticable, the amount of the correction: (i) foreachfinancialstatementlineitemaffected;and (ii) ifIAS33appliestotheentity,theimpactonbasicand dilutedearningspershare; (c) theamountofthecorrectionatthebeginningoftheearliest priorperiodpresented;and (d) ifretrospectiverestatementisimpracticableforaparticular priorperiod,thecircumstancesthatledtotheexistence ofthatconditionandadescriptionofhowandfromwhen the error has been corrected.

8p49 These disclosures need not be repeated in the financial statements of subsequent periods.

B2 Reporting in the currency of a hyperinflationary economy

1p119 1. Disclose accounting policies.

29p39(a)2. Disclosethefactthatthefinancialstatementsandthe correspondingfiguresforpreviousperiodshavebeenrestated forthechangesinthegeneralpurchasingpowerofthe functionalcurrencyand,asaresult,arestatedintermsofthe measuring unit current at the balance sheet date.

29p39(b)3. Disclosewhetherthefinancialstatementsarebasedona historical cost approach or a current cost approach.

29p39(c)4. Providethefollowinginformation: (a) theidentityofthepriceindex; (b) thelevelofthepriceindexatthebalancesheetdate;and (c) themovementintheindexduringthecurrentandprevious reporting period. It is useful to disclose the three years cumulative inflation at the balance sheet date for each of the periods presented in the financial statements.

29p9 5. Disclose the gain or loss on the net monetary position included in net income. This is usually disclosed as a separate line above profit/loss before taxation in the income statement.

21p42 6. The results and financial position of an entity whose functional currency is the currency of a hyperinflationary economy should be translated into a different presentation currency using the following procedures: (a) all amounts (assets, liabilities, equity items, and income and expenses, including comparatives) should be translated at the closing rate at the date of the most recent balance sheet, except: (b) when amounts are translated into the currency of a non–hyperinflationary economy, comparative amounts should be those that were presented as current year amounts in the relevant prior year financial statements (not adjusted for subsequent changes in the price level or subsequent changes in exchange rates).

21p43 7. When an entity’s functional currency is the currency of a hyperinflationary economy, the entity should restate its financial statements in accordance with IAS 29 before applying the translation method set out in IAS 21 para 42, except for comparative amounts that are translated into a currency of a non-hyperinflationary economy (refer to IAS 21 para 42(b)). When the economy ceases to be hyperinflationary and the entity no longer restates its financial statements in accordance with IAS 29, it should use as the historical costs to translate into the presentation currency the amounts restated to the price level at the date the entity ceased restating its financial statements.

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B3 Uncertainties about going concern 1p25 1. Disclosematerialuncertaintiesrelatingtoeventsorconditions thatmaycastsignificantdoubtupontheentity’sabilityto continue as a going concern.

1p25 2. Whenanentitydoesnotpreparefinancialstatementsona goingconcernbasis,disclosethatfacttogetherwiththereason that the entity is not regarded as a going concern and the basis onwhichitpreparedthefinancialstatements.

B4 Departure from IFRS 1p19,20 1. IntheextremelyraresituationswheredeparturefromIFRSis necessarytoachieveafairpresentation,anentitymaydepart fromIFRSiftherelevantregulatoryframeworkrequiresitor doesnotprohibitsuchadeparture.Inthesecircumstances, disclose: 1p20 (a)thatmanagementhasconcludedthatthefinancial statementsfairlypresenttheentity’sfinancialposition, financialperformanceandcashflows; (b)thatithascompliedinallmaterialrespectswithapplicable standardsandinterpretations,exceptthatithasdeparted fromaparticularrequirementtoachieveafairpresentation; (c)thethetitleoftheIFRSfromwhichtheentityhasdeparted, thenatureofthedeparture,includingthetreatmentthatthe IFRSwouldrequire,thereasonwhythattreatmentwouldbe misleadinginthecircumstancesandthetreatmentadopted; and (d)foreachperiodpresented,thefinancialimpactofthe departureoneachiteminthefinancialstatementsthat wouldhavebeenreportedincomplyingwiththe requirement.

1p21 2. WhereanentityhasdepartedfromarequirementofanIFRSin a prior period and the amounts recognised in the current period areaffectedbythatdeparture,disclosurepoint(c)and(d) above.

1p23(a),(b) 3. Wheremanagementconcludesthatcompliancewitha requirementinIFRSwouldbesomisleadingastoconflictwith theobjectiveoffinancialstatementssetoutintheFramework, butdeparturefromtherequirementisprohibitedbytherelevant regulatoryframework,reducetheperceivedmisleadingaspects of compliance as far as possible by disclosing: (a) thetitleoftheIFRSinquestion,thenatureofthe requirementandthereasonwhymanagementconsiders compliancewiththatrequirementtobesomisleadingasto conflictwiththeobjectiveoffinancialstatementssetoutin theFramework;and (b) foreachperiodpresented,theadjustmentstoeachitemin thefinancialstatementsthatmanagementhasconcluded wouldbenecessarytogiveafairpresentation.

B5 Change of year-end

1p49 1. Whenanentitychangesitsyear-end,anditsfinancial statements are presented for a period longer or shorter than oneyear,disclose: (a)thereasonforaperiodotherthanoneyearbeingused; and (b)thefactthatcomparativeamountsfortheincome statement,changesinequity,cashflowsandrelatednotes are not comparable.

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B6 Intermediate parent company – consolidated financial statements not presented

27p10 Under IAS 27 para 10, a parent that is a wholly owned subsidiary need not present consolidated financial statements. If the parent is wholly or partially owned, it need not present consolidated financial statements if it informs the owners, including those not otherwise entitled to vote, and they do not object.

27p41 1. Whenseparatefinancialstatementsarepreparedforaparent that,inaccordancewithIAS27para10,electsnottoprepare consolidatedfinancialstatements,discloseinthoseseparate financialstatements: (a)thefactthatthefinancialstatementsareseparatefinancial statements; (b)thefactthattheexemptionfromconsolidationhasbeen used; (c)thenameandcountryofincorporationorresidenceofthe entitywhoseconsolidatedfinancialstatementsthatcomply withIFRShavebeenproducedforpublicuse; (d)theaddresswherethoseconsolidatedfinancialstatements areobtainable; (e)alistofsignificantinvestmentsinsubsidiaries,jointly controlledentitiesandassociates,including: (i) thename; (ii) countryofincorporationorresidence; (iii)proportionofownershipinterest;and (iv)ifdifferent,proportionofvotingpowerheld;and (f) adescriptionofthemethodusedtoaccountforthe investmentslistedunder(b)above.

B7 Share-based payments

IFRS2p44 1. Provideinformationthatenablesusersofthefinancial statementstounderstandthenatureandextentofshare- based payment arrangements that existed during the period. Theentityshoulddiscloseatleastthefollowing:IFRS2p45(a) (a)adescriptionofeachtypeofshare-basedpayment arrangementthatexistedatanytimeduringperiod, the including the general terms and conditions of each arrangement,suchas: (i) vestingrequirements; (ii) themaximumtermofoptionsgranted;and (iii)themethodofsettlement(forexample,whether incashorequity). An entity with substantially similar types of share-based payment arrangements may aggregate this information, unless separate disclosure of each arrangement is necessary to enable users of the financial statements to understand the nature and extent of share-based payment arrangements that existed during the period. IFRS2p45(b) (b)thenumberandweightedaverageexercisepricesofshare optionsforeachofthefollowinggroupsofoptions: (i) outstandingatthebeginningoftheperiod; (ii) grantedduringtheperiod; (iii)forfeitedduringtheperiod; (iv)exercisedduringtheperiod; (v) expiredduringtheperiod; (vi)outstandingattheendoftheperiod;and (vii)exercisableattheendoftheperiod. IFRS2p45(c) (c)theweightedaveragesharepriceatthedateofexercisefor share options exercised during the period. The entity may instead disclose the weighted average share price during the period if options were exercised on a regular basis throughout the period.

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IFRS2p45(d) (d)forshareoptionsoutstandingattheendoftheperiod, (i) therangeofexerciseprices;and (ii) weightedaverageremainingcontractuallife.

If the range of exercise prices is wide, the outstanding options should be divided into ranges that are meaningful for assessing the number and timing of additional shares that may be issued and the cash that may be received upon exercise of those options.

IFRS2p46 2. Provideinformationthatenablesusersofthefinancial statementstounderstandhowthefairvalueofthegoodsor servicesreceived,orthefairvalueoftheequityinstruments granted,duringtheperiodwasdetermined(refertoparas3-5 below).

IFRS2p47 3. Iftheentityhasmeasuredthefairvalueofgoodsorservices receivedasconsiderationforequityinstrumentsoftheentity indirectly,byreferencetothefairvalueoftheequityinstruments granted,discloseatleastthefollowing: IFRS2p47(a) (a) forshareoptionsgrantedduringtheperiod,theweighted averagefairvalueofthoseoptionsatthemeasurementdate andinformationonhowthatfairvaluewasmeasured, including: (i) theoptionpricingmodelusedandtheinputstothat model,including: –theweightedaverageshareprice, –exerciseprice, –expectedvolatility, –optionlife, –expecteddividends, –therisk-freeinterestrate,and –anyotherinputstothemodel,includingthemethod used and the assumptions made to incorporate the effectsofexpectedearlyexercise; (ii) howexpectedvolatilitywasdetermined,includingan explanationoftheextenttowhichexpectedvolatility wasbasedonhistoricalvolatility;and (iii)whetherandhowanyotherfeaturesoftheoption grantwereincorporatedintothemeasurementoffair value,suchasamarketcondition. IFRS2p47(b) (b) forotherequityinstrumentsgrantedduringtheperiod(other thanshareoptions),thenumberandweightedaveragefair valueofthoseequityinstrumentsatthemeasurementdate, andinformationonhowthatfairvaluewasmeasured, including: (i) iffairvaluewasnotmeasuredonthebasisofan observablemarketprice,howitwasdetermined; (ii) whetherandhowexpecteddividendswereincorporated intothemeasurementoffairvalue;and (iii)whetherandhowanyotherfeaturesoftheequity instrumentsgrantedwereincorporatedintothe measurementoffairvalue;andIFRS2p47(c) (c)forshare-basedpaymentarrangementsthatweremodified during the period: (i) anexplanationofthosemodifications; (ii) theincrementalfairvaluegranted(asaresultofthose modifications);and (iii)informationonhowtheincrementalfairvaluegranted wasmeasured,consistentlywiththerequirementsset outin(a)and(b)above,whereapplicable.

IFRS2p48 4. Iftheentityhasmeasureddirectlythefairvalueofgoods orservicesreceivedduringtheperiod,disclosehowthatfair valuewasdetermined;forexample,whetherfairvaluewas measuredatamarketpriceforthosegoodsorservices.

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IFRS2p49 5. Iftheentityhasrebuttedthepresumptionthatfairvalueof goodsandservicesotherthanemployeeservicescanbe estimatedreliably,disclosethatfactandgiveanexplanationof whythepresumptionwasrebutted.

IFRS2p50 6. Provideinformationthatenablesusersofthefinancial statementstounderstandtheeffectofshare-basedpayment transactionsontheentity’sprofitorlossfortheperiodandon itsfinancialposition.Discloseatleastthefollowing: IFRS2p51 (a)thetotalexpenserecognisedfortheperiodarisingfrom share-basedpaymenttransactionsinwhichthegoodsor servicesreceiveddidnotqualifyforrecognitionasassets andwererecognisedimmediatelyasanexpense, including separate disclosure of that portion of the total expense that arises from transactions accounted for as equity-settledshare-basedpaymenttransactions;and (b)forliabilitiesarisingfromshare-basedpaymenttransactions: (i) thetotalcarryingamountattheendoftheperiod;and (ii) thetotalintrinsicvalueattheendoftheperiodof liabilitiesforwhichthecounterparty’srighttocashor otherassetshadvestedbytheendoftheperiod(for example,vestedshareappreciationrights).

IFRS2p52 7. Disclose additional information that is necessary to enable usersofthefinancialstatementstounderstandthenature andextentofshare-basedpaymentarrangementsthatexisted duringtheperiod,howfairvalueofthegoodsorservices receivedorfairvalueofequityinstrumentsgrantedduring theperiodwasdeterminedandtheeffectoftheshare-based paymentarrangementsonprofitorlossfortheperiodandon financialposition.

B8 First-time adoption of IFRS


IFRS1p36 1. IncludeinthefirstIFRSfinancialstatementsatleastoneyearof comparativeinformationunderIFRS.

IFRS1p37 2. IfthefirstIFRSfinancialstatementscontainhistorical summariesorcomparativeinformationunderpreviousGAAPas explainedinSectionsB8.6andB8.7: (a)labelthepreviousGAAPinformationprominentlyasnot beingpreparedunderIFRS;and (b)disclosethenatureofthemainadjustmentsthatwould makeitcomplywithIFRS.(Quantificationofthose adjustmentsisnotrequired).

2. ExplanationoftransitiontoIFRS

IFRS1p38 1. Provideanexplanationofhowthetransitionfromprevious GAAPtoIFRSaffectedthereportedfinancialposition,financial performanceandcashflows.

IFRS1p39 2. IncludeinthefirstIFRSfinancialstatements: (a)reconciliationsoftheentity’sequityreportedunderprevious GAAPtoitsequityunderIFRSforbothofthefollowing dates: (i) thedateoftransitiontoIFRS;and (ii) theendofthelatestperiodpresentedintheentity’s mostrecentannualfinancialstatementsunderprevious GAAP; (b)areconciliationoftheprofitorlossreportedunder previousGAAPforthelatestperiodintheentity’smost recentannualfinancialstatementstoitsprofitorlossunder IFRSforthesameperiod;and

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(c)iftheentityrecognisedorreversedanyimpairmentlosses forthefirsttimeinpreparingitsopeningIFRSbalance sheet,thedisclosuresthatIAS36wouldhaverequiredif the entity had recognised those impairment losses or reversalsintheperiodbeginningwiththedateoftransition to IFRS.

IFRS1p40 Thereconciliationsrequiredshouldgivesufficientdetailto enableuserstounderstandthematerialadjustmentstothe balance sheet and income statement.

IFRS1p40 3. Disclosematerialadjustmentstothecashflowstatement,if anentitypresentedacashflowstatementunderitsprevious GAAP

IFRS1p41 4. Ifanentitybecomesawareoferrorsmadeunderprevious GAAP,thereconciliationsrequiredbyIFRS1para39(a)and(b) should distinguish the correction of those errors from changes in accounting policies.

IFRS1p43 5. Ifanentitydidnotpresentfinancialstatementsforprevious periods,disclosethatfactinitsfirstIFRSfinancialstatements.

IFRS1p43A 3. Designationoffinancialassetsorfinancialliabilities

Disclosethefairvalueofanyfinancialassetsorfinancial liabilitiesdesignatedatfairvaluethroughprofitorlossoras availableforsaleandthecarryingamountintheprevious financialstatements.

IFRS1p44 4. Useoffairvalueasdeemedcost

1. Iffairvalueisusedasdeemedcostforanitemofproperty, plantandequipment,aninvestmentpropertyoranintangible asset(refertoIFRS1paras16and18),discloseinthefirst IFRSfinancialstatements,foreachlineitemintheopening IFRS balance sheet: (a)theaggregateofthosefairvalues;and (b)theaggregateadjustmenttothecarryingamounts reportedunderpreviousGAAP.

IFRS1p44A 1. If an entity uses a deemed cost in its opening IFRS balance sheetforaninvestmentinasubsidiary,jointlycontrolledentity orassociateinitsseparatefinancialstatements,disclosein thefirstIFRSfinancialstatements:IFRS1p44A(a) (a) theaggregatedeemedcostofthoseinvestmentsforwhich deemedcostisthepreviousGAAPcarryingamount; IFRS1p44A(b) (b)theaggregatedeemedcostofthoseinvestmentsforwhich deemedcostisfairvalue;and IFRS1p44A(c) (c)theaggregateadjustmenttothecarryingamounts reportedunderpreviousGAAP.

5. Interimfinancialreports

IFRS1p45 1. InterimfinancialreportunderIAS34forpartoftheperiod coveredbyfirstIFRSfinancialstatementsshouldinclude reconciliations of: (a)equityunderpreviousGAAPattheendofthecomparable interimperiodtoequityunderIFRSatthatdate;and (b)profitorlossunderpreviousGAAPforthecomparable interimperiod(currentandyear-to-date)toprofitorloss under IFRS for that period.

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Inadditiontothereconciliationsrequiredby(a)and(b)above, anentity’sfirstinterimfinancialreportunderIAS34forpart oftheperiodcoveredbyitsfirstIFRSfinancialstatements should include the reconciliations described in IFRS 1 para 39(a)and(b)(supplementedbythedetailsrequiredby IFRS1paras40and41)oracross-referencetoanother published document that includes these reconciliations.

IFRS1p46 2. Ifafirst-timeadopterdidnotdiscloseinformationmaterialto an understanding of the current interim period in its most recentannualfinancialstatementsunderpreviousGAAP, disclosethatinformationinitsinterimfinancialreportor includeacross-referencetoanotherpublisheddocumentthat includes it.

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C1 Construction contracts

1p110 1. Disclose in accounting policies: 11p39(b) (a) themethodsusedtodeterminethecontractrevenue recognisedintheperiod;and11p39(c) (b)themethodsusedtodeterminethestageofcompletionof contracts in progress.

11p39(a) 2. Disclosetheamountofcontractrevenuerecognisedasrevenue in the period.

11p40 3. Forconstructioncontractsinprogressatthebalancesheet date,disclose: (a) theaggregateamountofcostsincurredandrecognised profits(lessrecognisedlosses)todate; (b)theamountofadvancesreceived;and (c)theamountofretentions.

11p42 4. Presentonthebalancesheet: (a)thegrossamountduefromcustomersforcontractworkas anasset;and (b)thegrossamountduetocustomersforcontractworkasa liability.

IFRIC15p20 5. Iftheentityrecognisesrevenueusingthepercentageof completion method for agreements that meet all the criteria ofIAS18.14continuouslyasconstructionprogresses,disclose: (a) howitdetermineswhichagreementsmeetallthecriteriain IAS18.14continuouslyasconstructionprogresses. (b)theamountofrevenuearisingfromsuchagreementsinthe period;and (c)themethodsusedtodeterminethestageofcompletionof agreements in progress.

IFRIC15p21 6. InadditiontothedisclosuresrequiredbyIFRIC15para20,for agreementsthatareinprogressatthereportingdate,disclose: (a) theaggregateamountofcostsincurredandrecognised profits;(lessrecognisedlosses)todate;and (b) theamountofadvancesreceived.

C2 Agriculture


17p32, 57 The disclosure requirements of IAS 41 apply to owned biological assets and to the amounts of leased biological assets held under finance leases in the lessee’s accounts.

41p41, 42 1. Provideadescriptionofeachgroupofbiologicalassets (narrativeorquantifieddescription).

41p40 2. Disclose the aggregate gain or loss arising during the current period on initial recognition of biological assets and agricultural produceandfromthechangeinfairvaluelessestimatedpoint- of-salecostsofbiologicalassets.

41p46 3. Describe,ifithasnotbeendisclosedelsewhereininformation publishedwiththefinancialstatements: (a)thenatureofactivitiesinvolvingeachgroupofbiological assets;and (b)non-financialmeasuresorestimatesofthephysical quantitiesof: (i) eachgroupoftheentity’sbiologicalassetsattheendof theperiod;and (ii) theoutputofagriculturalproduceduringtheperiod.

41p47 4. Disclosethemethodsandsignificantassumptionsappliedin determiningthefairvalueofeachgroupofagriculturalproduce atthepointofharvestandeachgroupofbiologicalassets.

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41p48 5. Disclosethefairvaluelessestimatedpoint-of-salecostsof agriculturalproduceharvestedduringtheperiod,determinedat thepointofharvest.

41p49 6. Disclose: (a)theexistenceandcarryingamountsofbiologicalassets whosetitleisrestricted,andthecarryingamountsof biologicalassetspledgedassecurityforliabilities; (b)theamountofcommitmentsforthedevelopmentor acquisitionofbiologicalassets;and (c)financialriskmanagementstrategiesrelatedtoagricultural activity.

41p50 7. Present a reconciliation of changes in the carrying amount of biologicalassetsbetweenthebeginningandtheendofthe current period. Include in the reconciliation: DV41p51 (a)thegainorlossarisingfromchangesinfairvalueless estimatedpoint-of-salecosts.Entitiesareencouragedto disclosebygrouporotherwisetheamountduetophysical changesandduetopricechanges; (b)increasesduetopurchases; (c)decreasesduetosalesandbiologicalassetsclassifiedas heldforsale(orincludedinadisposalgroupthatis classifiedasheldforsale)inaccordancewithIFRS5; (d)decreasesduetoharvest; (e)increasesresultingfrombusinesscombinations; (f) netexchangedifferencesarisingonthetranslationof financialstatementsintoadifferentpresentationcurrency and on the translation of a foreign operation into the reportingentity’spresentationcurrency;and (g) otherchanges.

41p55 This reconciliation should separately identify any biological assets measured at cost loss accumulated depreciation and any accumulated impairment losses in accordance withIAS41para30.

41p57 8. Disclosethefollowingrelatedtoagriculturalactivity: (a)thenatureandextentofgovernmentgrantsrecognisedin thefinancialstatements; (b)unfulfilledconditionsandothercontingenciesrelatingto governmentgrants;and (c)significantdecreasesexpectedinthelevelofgovernment grants.

DV, 41p43 9. Provideaquantifieddescriptionofeachgroupofbiological assets,distinguishingbetweenconsumableandbearer biologicalassetsorbetweenmatureandimmaturebiological assets,asappropriate.

2. Additionaldisclosureswherefairvalueofbiologicalassets cannot be measured

41p54 1. Whenfairvalueofbiologicalassetscannotbemeasuredand costisused,disclose: (a)adescriptionofthebiologicalassets; (b)anexplanationofwhyfairvaluecannotbemeasured reliably; (c)ifpossible,therangeofestimateswithinwhichfairvalueis highlylikelytolie; (d)thedepreciationmethodused; (e)theusefullivesorthedepreciationratesused;and (f) thegrosscarryingamountandtheaccumulated depreciation(aggregatedwithaccumulatedimpairment losses)atthebeginningandendoftheperiod.

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41p55 2 Disclose any gain or loss recognised on disposal of biological assets.Disclosedetailsofthefollowingamountsincludedinnet profitorlossrelatedtothosebiologicalassets: (a)impairmentlosses; (b)reversalsofimpairmentlosses;and (c)depreciation.

41p56 3. Ifanentitychangesfromcosttofairvalueduringthecurrent period,disclose: (a)adescriptionofthebiologicalassets; (b)anexplanationofwhyfairvaluehasbecomereliably measurable;and (c)theeffectofthechange.

C3 Public service concession arrangements SIC29p6-7 1. Forconcessionoperatorsorconcessionproviders,disclosethe followingineachperiodindividuallyforeachserviceconcession arrangementorinaggregateforeachclassofservice concession arrangement: (a)adescriptionofthearrangement; (b)significanttermsofthearrangementthatmayaffectthe amount,timingandcertaintyoffuturecashflows(for example,theperiodoftheconcession,re-pricingdatesand thebasisonwhichre-pricingorrenegotiationis determined); (c)thenatureandextent(forexample,quantity,timeperiodor amount,asappropriate)of: (i) rightstousespecifiedassets; (ii) obligationstoprovideorrightstoexpectprovisionof services; (iii)obligationstoacquireortobuilditemsofproperty,plant andequipment; (iv)obligationstodeliverorrightstoreceivespecified assetsattheendoftheconcessionperiod; (v) renewalandterminationoptions;and (vi)otherrightsandobligations(forexample,major overhauls); (d) changesinthearrangementoccurringduringtheperiod; and (e) howtheservicearrangementhasbeenclassified

SIC 29p6A Discloserevenueandprofitsorlossesrecognisedon exchangingconstructionservicesforafinancialassetoran intangible asset.

C4 Accounting by a lessor

Leasesarefinancialinstrumentsandthereforethedisclosure requirementsofIFRS7applyalsotoleases.RefertoSectionA8.

(a) Lessors–financeleases

17p47 1. Disclose: (a)areconciliationbetweenthetotalgrossinvestmentin theleaseatthebalancesheetdateandthepresentvalueof minimumleasepaymentsreceivableatthebalancesheet date; (b)thetotalgrossinvestmentintheleaseandthepresentvalue ofminimumleasepaymentsreceivableatthebalancesheet date,foreachofthefollowingthreeperiods: (i) nolaterthanoneyear; (ii) laterthanoneyearandnolaterthanfiveyears;and (iii)laterthanfiveyears;

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(c)unearnedfinanceincome; (d)theunguaranteedresidualvaluesaccruingtothebenefitof thelessor; (e)theaccumulatedallowanceforuncollectableminimumlease paymentsreceivable; (f) contingentrentsrecognisedinincome;and (g)ageneraldescriptionofthelessor’ssignificantleasing arrangements.

17p65 2. Thedisclosurerequirementssetoutinpara1abovealso applytosaleandleasebacktransactions.Anyuniqueor unusualprovisionsoftheagreementsortermsofthesaleand leaseback transactions should be separately disclosed.

IFRIC4pBC39 3. Thedisclosurerequirementssetoutinpara1abovealsoapply toleasesunderIFRIC4.

(b) Lessors–operatingleases

17p56, 57 1. Disclose: (a)foreachclassofasset: (i) grosscarryingamount; (ii) accumulateddepreciation; (iii)accumulatedimpairmentloss; (iv)depreciationchargefortheperiod; (v) impairmentlossesrecognisedfortheperiod;and (vi)impairmentlossesreversedfortheperiod; (b)thefutureminimumleasepaymentsundernon- cancellableoperatingleases,intotalandforeachofthe followingthreeperiodsafterthebalancesheetdate: (i) nolaterthanoneyear; (ii) laterthanoneyearandnolaterthanfiveyears; (iii)laterthanfiveyears; (c)totalcontingentrentsincludedinincome;and (d)ageneraldescriptionofthelessor’ssignificantleasing arrangements.

17p65 2. Thedisclosurerequirementssetoutinpara1abovealso applytosaleandleasebacktransactions.Anyuniqueor unusualprovisionsoftheagreementsortermsofthesaleand leaseback transactions should be separately disclosed

IFRIC4pBC39 3. Thedisclosurerequirementssetoutinpara1abovealsoapply toleasesunderIFRIC4.

3. Arrangementsthatdonotinvolvealeaseinsubstance

SIC27p10-11 Certainspecialdisclosuresapplyoverthelegalformofleases. RefertoSectionA5.18(c).

4. Saleandleasebacktransactions

17p66 Sale and leaseback transactions may trigger the separate disclosurecriteriainIAS1,PresentationofFinancial Statements.

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C5 Decommissioning, restoration and environmental rehabilitation funds

IFRIC 5, ‘Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds’, effective from 1 January 2006, explains how to treat expected reimbursements from funds set up to meet the costs of decommissioning plant (such as nuclear plant) or equipment (such as cars) or in undertaking environmental restoration or rehabilitation (such as rectifying pollution of water or restoring IFRIC5p4 mined land). This interpretation applies to accounting in the financial statements of a contributor for interests arising from decommissioning funds that have both of the following features: (a) the assets are administered separately (either by being held in a separate legal entity or as segregated assets within another entity); and (b) a contributor’s right to access the assets is restricted.

A residual interest in a fund that extends beyond a right to reimbursement, such as a contractual right to distributions once all the decommissioning has been completed or on winding up the fund, may be an equity instrument within the scope of IAS 39 and is not within the scope of this Interpretation.

IFRIC5p11 1. A contributor discloses the nature of its interest in a fund and any restrictions on access to the assets in the fund.

IFRIC5p12 2. When a contributor has an obligation to make potential additionalcontributionsthatisnotrecognisedasaliability(refer toIFRIC5para10),itmakesthedisclosuresrequiredbyIAS37 para86(refertoSectionA5.23).

IFRIC5p13 3. Whenacontributoraccountsforitsinterestinthefundin accordancewithIFRIC5para9,itmakesthedisclosures requiredbyIAS37para85(c)(refertoSectionA5.16).


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IFRS8p20 1. Discloseinformationtoenableuserstoevaluatethenatureand financialeffectsofthebusinessactivitiesinwhichtheentity engagesandtheeconomicenvironmentinwhichitoperates.

2. Disclosethefollowinggeneralinformation: IFRS8p22(a), (a) thefactorsusedinidentifyingtheentity’sreportable(b) segments,includingthebasisoforganisation(forexample, bygeographicalarea,productsandservices,ora combinationoffactorsandwhetheroperatingsegments havebeenaggregated);and (b)thetypesofproductsandservicesfromwhicheach reportablesegmentgeneratesrevenues.

IFRS8p21 3. Givereconciliationsofbalancesheetamountsforreportable segmentstotheentity’sbalancesheetamountsforeachdate atwhichabalancesheetispresented.

2. Profitorloss,assetsandliabilities

14p50 1. Reportameasureofprofitorlossandtotalassetsforeach reportablesegment,andameasureofliabilitiesforeach reportablesegmentifthatamountisregularlyprovidedtothe chiefoperatingdecision-maker.

IFRS8p23(a) 2. Disclosethefollowinginformationforeachreportablesegment(b),(c),(d),(e), iftheinformationisincludedinthemeasureofsegmentprofitor(f),(g),(h),(i) lossreviewedbythechiefoperatingdecision-maker,oris otherwiseregularlyprovidedtothem,evenifnotincludedin thatmeasureofsegmentprofitorloss: (a) revenuesfromexternalcustomers; (b) revenuesfromtransactionswithotheroperatingsegments ofthesameentity; (c) interestrevenue; (d) interestexpense; (e) depreciationandamortisation; (f) materialitemsofincomeandexpensedisclosedin accordancewithIAS1para86; (g) theentity’sinterestintheprofitorlossofassociatesand jointventuresaccountedforbytheequitymethod; (h) incometaxincomeorexpense;and (i) materialnon-cashitems(otherthandepreciationand amortisation).

Reportinterestrevenueseparatelyfrominterestexpensefor eachreportablesegmentunlessamajorityofthesegment’s revenuesarefrominterestandthechiefoperatingdecision makerreliesprimarilyonnetinterestrevenuetoassessthe performance of the segment and make decisions about resourcestobeallocatedtothesegment.Inthatsituation,an entitymayreportthatsegment’sinterestrevenuenetofits interest expense and disclose that it has done so.

IFRS8p24(a), 3. Disclosethefollowingabouteachreportablesegmentifthe(b) specifiedamountsareincludedinthemeasureofsegment assetsreviewedbythechiefoperatingdecision-makeroris otherwiseregularlyprovidedtothechiefoperatingdecision maker,evenifnotincludedinthatmeasureofsegmentassets: (a)theamountofinvestmentsinassociatesandjointventures accountedforusingtheequitymethod;and (b)theamountofadditionstonon-currentassetsotherthan financialinstruments,deferredtaxassets,post-employment benefitassetsandrightsarisingunderinsurancecontracts.

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3. Explanationofsegmentprofitorloss,segmentassetsand liabilities

IFRS8p27(a), 1. Provideanexplanationofthemeasurementsofprofitorloss,(b),(c),(d),(e), assetsandliabilitiesforeachreportablesegment,including: (f) (a) thebasisofaccountingforanytransactionsbetween reportablesegments; (b) thenatureofanydifferencesbetweenthemeasurementsof thereportablesegments’profitsorlossesandthe entity’sprofitorlossbeforeincometaxexpenseorincome and discontinued operations. Those differences could include accounting policies and policies for allocation of centrally incurred costs that are necessary for an understandingofthereportedsegmentinformation.; (c) thenatureofanydifferencesbetweenthemeasurements ofthereportablesegments’assetsandtheentity’sassets. Those differences could include accounting policies and policiesforallocationofjointlyusedassetsthatare necessary for an understanding of the reported segment information; (d)thenatureofanydifferencesbetweenthemeasurementsof thereportablesegments’liabilitiesandtheentity’sliabilities. Those differences could include accounting policies and policiesforallocationofjointlyutilisedliabilitiesthatare necessary for an understanding of the reported segment information; (e)thenatureofanychangesfrompriorperiodsinthe measurement methods used to determine reported segment profitorlossandtheeffect,ifany,ofthosechangesonthe measureofsegmentprofitorloss;and (f) thenatureandeffectofanyasymmetricalallocationsto reportablesegments(forexample,wheredepreciation expense is allocated to a segment but the related asset is not).

4. Reconciliations

IFRS8p28(a), 1. Providereconciliations(allmaterialreconcilingitemsare(b),(c),(d),(e) separatelyidentifiedanddisclosed)ofthefollowing: (a) thetotalofreportablesegments’revenuestotheentity’s revenue; (b)thetotalofthereportablesegments’measureofprofitor losstotheentity’sprofitorlossbeforetaxanddiscontinued operations,unlessitemssuchastaxincomeandexpense areallocatedtosegments,inwhichcasethereconciliation maybetotheentity’sprofitorlossafterthoseitems; (c)thetotalofthereportablesegments’assetstothoseofthe entity; (d)thetotaloftheliabilitiesofthereportablesegmentstothose oftheentity(wheresegmentliabilitiesarereported);and (e)foranyothermaterialitemthetotalofthereportable segments’amounttothecorrespondingamountforthe entity.

5. Restatementofpreviouslyreportedinformation

IFRS8p29 1. Where there has been a change in the composition of the entity’sreportablesegments,disclosewhetherithasrestated the corresponding items of segment information for earlier periods.

Wherethereissuchachange,restatecorresponding informationforearlierperiods,includinginterimperiods,unless theinformationisnotavailableandthecosttodevelopwould beexcessive.Makethisdecisionforeachindividualitemof disclosure.

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IFRS8p30 2. Where there has been a change in the composition of the entity’sreportablesegmentsandsegmentinformationforearlier periods,includinginterimperiods,isnotrestated,theentity shalldiscloseintheyearinwhichthechangeoccurssegment information for the current period on both the old basis and the newbasisofsegmentation(unlessthenecessaryinformationis notavailableandthecosttodevelopitwouldbeexcessive).

6. Entity-widedisclosures

IFRS8p31 1. Providethefollowinginformationifitisnotprovidedaspartof the reportable segment information. IFRS8p32 (a)therevenuesfromexternalcustomersforeachproductand service,oreachgroupofsimilarproductsandservices, unlesstheinformationisnotavailableandthecostto developitwouldbeexcessive,inwhichcase,disclosethat fact. (b)theamountsoftherevenuesarebasedontherevenueper thefinancialstatements.

IFRS8p33(a), 2. Providethefollowinggeographicalinformation,unlessthe(b) necessaryinformationisnotavailableandthecosttodevelopit wouldbeexcessive(ifthisisthecase,disclosethisfact): (a) revenuesforexternalcustomerssplitbetweenthose attributabletotheentity’scountryofdomicileandallforeign countriesintotalfromwhichtheentityderivesrevenues. Disclosethebasisforattributingrevenuesfromexternal customerstoindividualcountries;Ifrevenuesfromexternal customersattributedtoanindividualforeigncountryare materialthoserevenuesshouldbedisclosedseparately; and (b) non-currentassets(otherthanfinancialinstruments, deferredtaxassets,post-employmentbenefitassetsand rightsarisingunderinsurancecontracts)splitbetween thoselocatedintheentity’scountryofdomicileandthose locatedinallforeigncountriesintotalinwhichtheentity holdsassets.Ifassetsinanindividualforeigncountryare material,disclosethoseassetsseparately.

The amounts of the assets and revenues are based on the amounts per the financial statements. An entity may provide, in addition to this information, subtotals of geographical information about groups of countries.

IFRS8p34 3. Provideinformationabouttheextentoftheentity’sreliance onitsmajorcustomers.Ifrevenuesfromtransactionswitha singleexternalcustomerare10%ormoreoftheentity’s revenues,disclosethatfact,alongwiththetotalamountsof revenuesfromeachsuchcustomerandtheidentityofthe segmentsreportingtherevenues.

The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. A group of entities (or government – national,, state, provincial, territorial, local, foreign) under common control shall be considered a single customer.

7. OtherdisclosuresimpactedbytheearlyadoptionofIFRS8

IFRS5p41(d) 1. Non-currentassetsheldforsale.Discloseintheperiodinwhich anon-currentasset(ordisposalgroup)hasbeeneither classifiedasheldforsaleorsold,thereportablesegmentin whichthenon-currentasset(ordisposalgroup)ispresented.

7p50(d) 2. Statementofcashflows.An entity is encouraged, but not required, to disclose the amount of cash flows arising from the operating, investing and financing activities of each reportable segment.

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36p129 3. Impairment.Anentitythatreportssegmentinformationin accordancewithIFRS8disclosesthefollowingforeach reportable segment: (a) theamountofimpairmentlossesrecognisedinprofitorloss anddirectlyinequityduringtheperiod;and (b) theamountofreversalsofimpairmentlossesrecognisedin profitorlossanddirectlyinequityduringtheperiod.

36p130(c),(i), 4. Discloseforeachmaterialimpairmentlossrecognisedor(ii) reversedduringtheperiodforanindividualasset,including goodwill,oracash-generatingunit: (a) foranindividualasset: (i) thenatureoftheasset;and (ii) iftheentityreportssegmentinformationinaccordance withIFRS8,thereportablesegmenttowhichtheasset belongs;and IFRS5p41(d) (b) foracash-generatingunit: (i) adescriptionofthecash-generatingunit(suchas whetheritisaproductline,aplant,abusiness operation,ageographicalarea,orareportablesegment asdefinedinIFRS8);and (ii) theamountofimpairmentlossrecognisedorreversed byclassofassetsand,iftheentityreportssegment informationinaccordancewithIFRS8,byreportable segment.

D2 Earnings per share

33p2,3 1. An entity that discloses earnings per share should calculate anddiscloseearningspershareinaccordancewithIAS33. Earningspersharedisclosuresarerequiredforentitieswhose ordinary shares or potential ordinary shares are publicly traded and for entities that are in the process of issuing ordinary shares or potential ordinary shares in public markets.

33p66 2. Present on the face of the income statement basic and diluted earningspershareforprofitorlossfromcontinuingoperations attributabletotheordinaryequityholdersoftheparententity, andforprofitorlossattributabletotheordinaryequityholders of the parent entity for the period for each class of ordinary sharesthathasadifferentrighttoshareinprofitfortheperiod.

Presentbasicanddilutedearningspersharewithequal prominence for all periods presented.

33p67 3. Presentearningspershareforeveryperiodforwhichanincome statement is presented. If diluted earnings per share is reported foratleastoneperiod,itshouldbereportedforallperiods presented,evenifitequalsbasicearningspershare.Ifbasic anddilutedearningspershareareequal,dualpresentationcan beachievedinonelineonthefaceoftheincomestatement.

33p68 4. Anentitythatreportsadiscontinuingoperationshoulddisclose the basic and diluted amounts per share for the discontinuing operation either on the face of the income statement or in the notestothefinancialstatements.

33p69 5. Presentbasicanddilutedearningspershare,evenifthe amountsarenegative(alosspershare).

6. Disclose:33p70(a) (a)theamountsusedasthenumeratorsincalculatingbasic anddilutedearningspershare,andareconciliationofthose amountstoprofitorlossattributabletotheparententityfor theperiod.Thereconciliationshouldincludetheindividual effect of each class of instruments that affects earnings per share;

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33p70(b) (b)theweightedaveragenumberofordinarysharesusedas the denominator in calculating basic and diluted earnings pershare,andareconciliationofthesedenominatorsto eachother.Thereconciliationshouldincludetheindividual effect of each class of instruments that affects earnings per share;and 33p70(c) (c)instruments(includingcontingentlyissuableshares)that could potentially dilute basic earnings per share in the future,butwerenotincludedinthecalculationofdiluted earningspersharebecausetheyareantidilutiveforthe period(s)presented.

33p70(d) 7. Provideadescriptionofordinarysharetransactionsorpotential ordinarysharetransactions,otherthanthoseaccountedfor inaccordancewithIAS33para64,thatoccurafterthebalance sheetdateandthatwouldhavechangedsignificantlythe number of ordinary shares or potential ordinary shares outstanding at the end of the period if those transactions had occurred before the end of the reporting period. Examples are provided in IAS 33 para 71.

33p72 8. Financialinstrumentsgeneratingpotentialordinarysharesmay incorporate terms and conditions that affect the measurement of basic and diluted earnings per share. These terms and conditionsmaydeterminewhetheranypotentialordinaryshares aredilutiveand,ifso,theeffectontheweightedaverage numberofsharesoutstandingandanyconsequentadjustments toprofitorlossattributabletoequityholders.Thedisclosureof thetermsandconditionsofsuchfinancialinstrumentsand othercontractsisencouraged,ifnototherwiserequired(referto IFRS7).

33p73 9. Ifanentitydiscloses,inadditiontobasicanddilutedearnings pershare,amountspershareusingareportedcomponent oftheincomestatementotherthanonerequiredbyIAS33, calculatesuchamountsusingtheweightedaveragenumber ofordinarysharesdeterminedinaccordancewiththisstandard. Disclose basic and diluted amounts per share relating to such acomponentwithequalprominenceandpresentinthenotes tothefinancialstatements.Indicatethebasisonwhichthe numerator(s)is(are)determined,includingwhetheramounts per share are before tax or after tax. If a component of the income statement is used that is not reported as a line item in theincomestatement,provideareconciliationbetweenthe component used and the line item that is reported in the income statement.

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E Additional disclosures required of entities that issue insurance contracts

IFRS4p36 1. Discloseinformationthatidentifiesandexplainstheamountsin itsfinancialstatementsarisingfrominsurancecontracts. Discloseatleastthefollowing:IFRS4p37 (a)accountingpoliciesforinsurancecontractsandrelated assets,liabilities,incomeandexpense; (b)therecognisedassets,liabilities,incomeandexpense(and, iftheinsurerpresentscashflowstatementusingthedirect method,cashflows)arisingfrominsurancecontracts.Ifthe insurerisacedant,itshoulddisclose: (i) gainsandlossesrecognisedinprofitorlossonbuying reinsurance;and (ii) ifthecedantdefersandamortisesgainsandlosses arisingonbuyingreinsurance,theamortisationforthe period and the amounts remaining unamortised at the beginningandendoftheperiod; (c)theprocessusedtodeterminetheassumptionsthathave the greatest effect on the measurement of the recognised amountsdescribedin(b)above;whenpracticable,also providequantifieddisclosureofthoseassumptions; (d)theeffectofchangesinassumptionsusedtomeasure insuranceassetsandinsuranceliabilities,showing separately the effect of each change that has a material effectonthefinancialstatements;and (e)reconciliationsofchangesininsuranceliabilities, reinsuranceassetsand,relateddeferredacquisitioncosts, if any.

IFRS4p38 2. Discloseinformationthatenablesusersofitsfinancial statementstoevaluatethenatureandextentofrisksarising frominsurancecontracts.Discloseatleastthefollowing: IFRS4p39 (a) objectives,policiesandprocessesformanagingrisksarising from insurance contracts and the methods used to manage thoserisks; (b) [deletedbythestandard]; (c)informationaboutinsurancerisk(bothbeforeandafterrisk mitigationbyreinsurance),includinginformationabout: (i) sensitivitytoinsurancerisk(seeIFRS4para39A)of profitorlossandequitytochangesinvariablesthat haveamaterialeffectonthem; (ii) concentrationsofinsurancerisk,includingadescription ofhowmanagementdeterminesconcentrationsanda descriptionofthesharedcharacteristicthatidentifies eachconcentration(forexample,typeofinsuredevent, geographicalarea,orcurrency); (iii)actualclaimscomparedwithpreviousestimates(claims development).Thedisclosureaboutclaimsdevelopment shallgobacktotheperiodwhentheearliestmaterial claimaroseforwhichthereisstilluncertaintyabout theamountandtimingoftheclaimspayments,butneed not go back more than 10 years. An insurer need not disclosethisinformationforclaimsforwhichuncertainty about the amount and timing of claims payments is typicallyresolvedwithinoneyear; (d)informationaboutcreditrisk,liquidityriskandmarketrisk thatIFRS7paras31-42wouldrequireiftheinsurance contractswerewithinthescopeofIFRS7: (i) aninsurerneednotprovidethematurityanalysis requiredbyIFRS7para39(a)ifitdisclosesinformation abouttheestimatedtimingofthenetcashoutflows resulting from recognised insurance liabilities instead. Thismaytaketheformofananalysis,byestimated timing,oftheamountsrecognisedinthebalancesheet; and

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(ii) ifaninsurerusesanalternativemethodtomanage sensitivitytomarketconditions,suchasanembedded valueanalysis,itmayusethatsensitivityanalysisto meettherequirementinparagraph40(a)ofIFRS7 para40(a).Suchaninsurershouldalsoprovidethe disclosuresrequiredbyIFRS7para41;and (e) informationaboutexposurestomarketriskarisingfrom embeddedderivativescontainedinahostinsurance contractiftheinsurerisnotrequiredto,anddoesnot, measuretheembeddedderivativesatfairvalue.

3. TocomplywithIFRS4para39(c)(i),discloseeither: (a) asensitivityanalysisthatshowshowprofitorlossand equitywouldhavebeenaffectedhadchangesinthe relevantriskvariablethatwerereasonablypossibleatthe balancesheetdateoccurred;themethodsandassumptions usedinpreparingthesensitivityanalysis;andanychanges fromthepreviousperiodinthemethodsandassumptions used.However,ifaninsurerusesanalternativemethod tomanagesensitivitytomarketconditions,suchasan embeddedvalueanalysis,itmaymeetthisrequirement bydisclosingthatalternativesensitivityanalysisandthe disclosuresrequiredbyparagraph41ofIFRS7;or (b) qualitativeinformationaboutsensitivity,andinformation about those terms and conditions of insurance contracts thathaveamaterialeffectontheamount,timingand uncertaintyoftheinsurer’sfuturecashflows.

IFRS7p30 4. Somefinancialassetsandfinancialliabilitiescontaina discretionaryparticipationfeatureasdescribedinIFRS4.Ifan entitycannotmeasurereliablythefairvalueofthat feature,disclosethatfacttogetherwithadescriptionofthe contract,itscarryingamount,anexplanationofwhyfairvalue cannotbemeasuredreliably,informationaboutthemarket fortheinstrument,informationaboutwhetherandhowthe entityintendstodisposeoftheinstrumentand,iffinancial instrumentswhosefairvaluepreviouslycouldnotbereliably measuredarederecognised,thatfact,theircarryingamountat thetimeofderecognition,andtheamountofgainorloss recognised.

Applying the liability adequacy test (IFRS 4 paras 15-19) to such comparative information may be impracticable, but it is unlikely to be impracticable to apply other requirements of IFRS 4 paras 10-35 to such comparative information. IAS 8 explains the term ‘impracticable’.

IFRS4p44 5. InapplyingIFRS4para39(c)(iii)–disclosureofactualclaims comparedwithpreviousestimates–anentityneednotdisclose informationaboutclaimsdevelopmentthatoccurredearlier thanfiveyearsbeforetheendofthefirstfinancialyearinwhich itappliesIFRS4.

6. Ifitisimpracticable,whenanentityfirstappliesIFRS4,to prepareinformationaboutclaimsdevelopmentthatoccurred beforethebeginningoftheearliestperiodforwhichanentity presentsfullcomparativeinformationthatcomplieswithIFRS4, disclose that fact.

39p103B, Amendments to IAS 39 and IFRS 4, ‘Financial guarantee IFRS4p41A contracts’, was issued in August 2005. A new definition of financial guarantee contracts was added in IAS 39 and IFRS 4. The disclosure requirements for financial guarantees are included in Section A8.11.

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F Disclosures required for retirement benefit plans

26p13 1. Includeinthereportprovidedbyadefinedcontributionplan: (a)astatementofnetassetsavailableforbenefits;and(b)a description of the funding policy.

26p17, 35(d) 2. Includeinthereportofadefinedbenefitplaneither: (a)astatementthatshows: (i) thenetassetsavailableforbenefits; (ii) theactuarialpresentvalueofpromisedretirement benefits,distinguishingbetweenvestedbenefitsand non-vestedbenefits;and (iii)theresultingexcessordeficit;or (b)astatementofnetassetsavailableforbenefitsincluding either: (i) anotedisclosingtheactuarialpresentvalueofpromised retirementbenefits,distinguishingbetweenvested benefitsandnon-vestedbenefits;or (ii) areferencetothisinformationinanaccompanying actuarial report.

26p35(a) 3. Discloseinthestatementofnetassetsavailableforbenefits: (a)assetsatperiodend,suitablyclassified; (b)basisofvaluationofassets; (c)detailsofanysingleinvestmentexceeding5%ofnetassets availableforbenefits,or5%ofanyclassortypeofsecurity; (d)detailsofanyinvestmentintheemployer;and (e)liabilitiesotherthantheactuarialpresentvalueofpromised retirementbenefits.

26p34(a) 4. Thereportofaretirementbenefitplan,whetherdefinedbenefit26p35(b) ordefinedcontribution,shouldalsocontainthefollowing information: (a)statementofchangesinnetassetsavailableforbenefits, including: (i) employercontributions; (ii) employeecontributions; (iii) investmentincome(forexample,interestand dividends); (iv) otherincome; (v) benefitspaidorpayable(analysed,forexample,as retirement,deathanddisabilitybenefits,andlump-sum payments); (vi) administrativeexpenses; (vii)otherexpenses; (viii)taxesonincome; (ix) profitsandlossesondisposalofinvestments; (x) changesinvalueofinvestments;and (xi) transfersfromandtootherplans; 26p13, 35(c) (b)adescriptionofthefundingpolicy;26p34(b) (c)asummaryofsignificantaccountingpolicies;26p36, 34(c) (d)adescriptionoftheplan,whichmayincludethefollowing details and the affect o f any changes during the period: (i) namesofemployers; (ii) employeegroupscovered; (iii) numberofparticipantsreceivingbenefits; (iv) numberofotherparticipants(classifiedasappropriate); (v) typeofplan(definedcontributionordefinedbenefit); (vi) whetherparticipantscontributetotheplan; (vii)descriptionofretirementbenefitspromisedto participants; (viii)descriptionofanyplanterminationterms;and (ix) changesintheaboveitemsduringtheperiodcovered bythereport;and26p32 (e)forplaninvestmentsforwhichanestimateoffairvalueis notpossible,thereasonwhyfairvalueisnotused.

IAS 26 paras 16, 22 and 36 provide guidance on disclosures.

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26p35(e) 5. Fordefinedbenefitplans,disclosethefollowing: (a)significantactuarialassumptionsmade;26p17 (b)dateofthemostrecentactuarialvaluation;26p35(e) (c)themethodusedtocalculatepresentvalueofpromised retirementbenefits;26p18 (d)theeffectofanychangesinactuarialassumptionsthathave hadasignificanteffectontheactuarialpresentvalueof promisedretirementbenefits;and26p19 (e)anexplanationoftherelationshipbetweentheactuarial presentvalueofpromisedretirementbenefitsandthenet assetsavailableforbenefits.

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G Suggested disclosures for financial review outside the financial statements

DV, 1p13 1. Outsidethefinancialstatements–provideareviewof: (a)themainfactorsandinfluencesdeterminingperformance, includingchangesintheenvironmentinwhichtheentity operates,theentity’sresponsetothosechangesand theireffect,andtheentity’spolicyforinvestmenttomaintain andenhanceperformance,includingitsdividendpolicy; (b)thesourcesoffundinganditstargetedratioofliabilitiesto equity;and (c)theentity’sresourcesnotrecognisedinthebalancesheetin accordancewithIFRS.

DV, 1p14 2. Outsidethefinancialstatements,provideenvironmentalreports, value-addedstatements,etc,ifmanagementbelievesthesewill assist users in making economic decisions.

IFRSdoesnotaddresstherequirementsforinformationtobe includedinadirectors’reportorfinancialcommentary. Theserequirementsaregenerallydeterminedbylocallaws andregulations.Companiesmaypresent,outsidethefinancial statements,afinancialreviewbymanagementthatdescribes andexplainsthemainfeaturesoftheentity’sfinancial performanceandfinancialpositionandtheprincipal uncertainties it faces.

IOSCO’s standard on operating and financing reviews for prospectuses

In 1998, IOSCO issued ‘International Disclosure Standards for Cross-Border Offerings and Initial Listings for Foreign Issuers’, comprising recommended disclosure standards including an operating and financial review and discussion of future prospects. IOSCO standards for prospectuses are not mandatory, but they will increasingly be incorporated in national stock exchange requirements both for prospectuses and annual reports. The text of IOSCO’s standard on ‘Operating and Financial Reviews and Prospects’ is reproduced below:

Discussthecompany’sfinancialcondition,changesinfinancial condition and results of operations for each year and interim periodforwhichfinancialstatementsarerequired,includingthe causesofmaterialchangesfromyeartoyearinfinancial statementlineitems,totheextentnecessaryforan understandingofthecompany’sbusinessasawhole. Informationprovidedalsoshouldrelatetoallseparate segmentsofthecompany.Providetheinformationspecified belowaswellassuchotherinformationthatisnecessaryfor aninvestor’sunderstandingofthecompany’sfinancial condition,changesinfinancialconditionandresultsof operation.

1. Operating Results.Provideinformationregardingsignificant factors,includingunusualorinfrequenteventsornew developments,materiallyaffectingthecompany’sincome fromoperations,indicatingtheextenttowhichincomewasso affected.Describeanyothersignificantcomponentofrevenue orexpensesnecessarytounderstandthecompany’sresultsof operations. (a)Totheextentthatthefinancialstatementsdisclosematerial changesinnetsalesorrevenues,provideanarrative discussionoftheextenttowhichsuchchangesare attributable to changes in prices or to changes in the volumeoramountofproductsorservicesbeingsoldorto theintroductionofnewproductsorservices. (b)Describetheimpactofinflation,ifmaterial.Ifthecurrencyin whichfinancialstatementsarepresentedisofacountry thathasexperiencedhyperinflation,theexistenceofsuch

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inflation,afiveyearhistoryoftheannualrateofinflationand adiscussionoftheimpactofhyperinflationonthe company’sbusinessshouldbedisclosed. (c)Provideinformationregardingtheimpactofforeigncurrency fluctuationsonthecompany,ifmaterial,andtheextentto whichforeigncurrencynetinvestmentsarehedgedby currencyborrowingsandotherhedginginstruments. (d)Provideinformationregardinganygovernmentaleconomic, fiscal,monetaryorpoliticalpoliciesorfactorsthathave materiallyaffected,orcouldmateriallyaffect,directly orindirectly,thecompany’soperationsorinvestmentsby host country shareholders.

2. LiquidityandCapitalResources.Thefollowinginformation shouldbeprovided: (a)Informationregardingthecompany’sliquidity(bothshort andlongterm),including: (i) adescriptionoftheinternalandexternalsourcesof liquidityandabriefdiscussionofanymaterialunused sourcesofliquidity.Includeastatementbythecompany that,initsopinion,theworkingcapitalissufficientfor thecompany’spresentrequirements,or,ifnot,how itproposestoprovidetheadditionalworkingcapital needed; (ii) anevaluationofthesourcesandamountsofthe company’scashflows,includingthenatureandextent of any legal or economic restrictions on the ability of subsidiaries to transfer funds to the company in the formofcashdividends,loansoradvancesandthe impactsuchrestrictionshavehadorareexpectedto haveontheabilityofthecompanytomeetitscash obligations;and (iii)informationonthelevelofborrowingsattheendofthe periodunderreview,theseasonalityofborrowing requirementsandthematurityprofileofborrowingsand committedborrowingfacilities,withadescriptionofany restrictions on their use. (b) Informationregardingthetypeoffinancialinstrumentsused, thematurityprofileofdebt,currencyandinterestrate structure. The discussion also should include funding andtreasurypoliciesandobjectivesintermsofthemanner inwhichtreasuryactivitiesarecontrolled,thecurrenciesin whichcashandcashequivalentsareheld,theextent towhichborrowingsareatfixedrates,andtheuseof financialinstrumentsforhedgingpurposes. (c) Informationregardingthecompany’smaterialcommitments forcapitalexpendituresasoftheendofthelatestfinancial yearandanysubsequentinterimperiodandanindication of the general purpose of such commitments and the anticipatedsourcesoffundsneededtofulfilsuch commitments.

3. ResearchandDevelopment,PatentsandLicensesetc.Provide adescriptionofthecompany’sresearchanddevelopment policiesforthelastthreeyears,whereitissignificant,including theamountspentduringeachofthelastthreefinancialyears oncompany-sponsoredresearchanddevelopmentactivities.

4. Trend Information. The company should identify the most significantrecenttrendsinproduction,salesandinventory,the state of the order book and costs and selling prices since the latestfinancialyear.Thecompanyalsoshoulddiscuss,forat leastthecurrentfinancialyear,anyknowntrends, uncertainties,demands,commitmentsoreventsthatare reasonablylikelytohaveamaterialeffectonthecompany’s netsalesorrevenues,incomefromcontinuingoperations, profitability,liquidityorcapitalresources,orthatwould causereportedfinancialinformationnotnecessarilytobe indicativeoffutureoperatingresultsorfinancialcondition.

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H1 IFRS 3 Amendment, Business combinations and consequential amendments


IFRS3p59 1. Theacquirerdisclosesinformationthatenablesusersofits financialstatementstoevaluatethenatureandfinancialeffect of a business combination that occurs either: IFRS3p59 (a) (a)duringthecurrentreportingperiod;orIFRS3p59 (b) (b)aftertheendofthereportingperiodbutbeforethefinancial statements are authorised for issue.

IFRS3p60 2. TomeettheobjectiveinIFRS3para59,theacquirerdiscloses theinformationspecifiedinparasB64-B66.

IFRS3pB64 3. Foreachbusinesscombinationthattookeffectduringthe reportingperiod,disclose:IFRS3pB64(a) (a)thenameandadescriptionoftheacquireeIFRS3pB64(b) (b)theacquisitiondate;IFRS3pB64(c) (c)thepercentageofvotingequityinterestsacquired;IFRS3pB64(d) (d)theprimaryreasonsforthebusinesscombinationanda descriptionofhowtheacquirerobtainedcontrolofthe acquiree;IFRS3pB64(e) (e)aqualitativedescriptionofthefactorsthatmakeupthe goodwillrecognised,suchasexpectedsynergiesfrom combiningoperationsoftheacquireeandtheacquirer,and intangibleassetsthatdonotqualifyforseparaterecognition orotherfactors;IFRS3pB64(f) (f) theacquisition-datefairvalueofthetotalconsideration transferredandtheacquisition-datefairvalueofeachmajor classofconsideration,suchas:IFRS3pB64(f)(i) (i) cash;IFRS3pB64(f)(ii) (ii) othertangibleorintangibleassets,includingabusiness orsubsidiaryoftheacquirer;IFRS3pB64(f)(iii) (iii)liabilitiesincurred−forexample,aliabilityforcontingent consideration;andIFRS3pB64(f)(iv) (iv)equityinterestsoftheacquirer,includingthenumber of instruments or interests issued or issuable and themethodofdeterminingthefairvalueofthose instruments or interests. IFRS3pB64(g) (g)forcontingentconsiderationarrangementsand indemnificationassets:IFRS3pB64(g)(i) (i) theamountrecognisedasoftheacquisitiondate;IFRS3pB64(g)(ii) (ii) adescriptionofthearrangementandthebasisfor determiningtheamountofthepayment;andIFRS3pB64(g)(iii) (iii)anestimateoftherangeofoutcomes(undiscounted) or,ifarangecannotbeestimated,thatfactandthe reasonswhyarangecannotbeestimated.Ifthe maximumamountofthepaymentisunlimited,the acquirerdisclosesthatfact;IFRS3pB64(h) (h)foracquiredreceivables:IFRS3pB64(h)(i) (i) thefairvalueofthereceivables;IFRS3pB64(h)(ii) (ii) thegrosscontractualamountsreceivable;andIFRS3pB64(h)(iii) (iii)thebestestimateattheacquisitiondateofthe contractualcashflowsnotexpectedtobecollected. The disclosures should be provided by major class of receivable, such as loans, direct finance leases and any other class of receivables. IFRS3pB64(i) (i) theamountsrecognisedasoftheacquisitiondateforeach majorclassofassetsacquiredandliabilitiesassumed.IFRS3pB64(j) (j) foreachcontingentliabilityrecognisedinaccordance withIFRS3para23,theinformationrequiredinIFRS3 para85ofIAS37,‘Provisions,contingentliabilitiesand contingentassets’.Ifacontingentliabilityisnotrecognised becauseitsfairvaluecannotbemeasuredreliably,the acquirerdiscloses:IFRS3pB64(j)(i) (i) theinformationrequiredbyparagraph86ofIAS37;


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IFRS3pB64(j)(ii) (ii) thereasonswhytheliabilitycannotbemeasured reliably (refer to Section A5.16 for detailed IAS 37 para 85 disclosure requirements and to Section A5.23 for detailed IAS 37 para 86 disclosure requirements); and IFRS3pB64(k) (k)thetotalamountofgoodwillthatisexpectedtobe deductiblefortaxpurposes;IFRS3pB64(l) (l) fortransactionsthatarerecognisedseparatelyfromthe acquisitionofassetsandassumptionofliabilitiesinthe businesscombinationinaccordancewithIFRS3para51:IFRS3pB64(l)(i) (i) adescriptionofeachtransaction;IFRS3pB64(l)(ii) (ii) howtheacquireraccountedforeachtransaction;IFRS3pB64(l)(iii) (iii)theamountsrecognisedforeachtransactionandthe lineiteminthefinancialstatementsinwhicheach amountisrecognised;andIFRS3pB64(l)(iv) (iv)ifthetransactionistheeffectivesettlementofapre- existingrelationship,themethodusedtodeterminethe settlementamount;IFRS3pB64(m) (m)thedisclosureofseparatelyrecognisedtransactions requiredbyIFRS3p64(l)includestheamountof acquisition-relatedcostsand,separately,theamount of those costs recognised as an expense and the line item oritemsinthestatementofcomprehensiveincomeinwhich those expenses are recognised. Also disclose the amount of anyissuecostsnotrecognisedasanexpenseandhowthey wererecognised;IFRS3pB64(n) (n)inabargainpurchase(seeIFRS3paras34–36):IFRS3pB64(n)(i) (i) theamountofanygainrecognisedinaccordancewith IFRS3para34andthelineiteminthestatementof comprehensiveincomeinwhichthegainisrecognised; and IFRS3pB64(n) (ii) (ii) adescriptionofthereasonswhythetransaction resultedinagain;IFRS3pB64(o) (o)foreachbusinesscombinationinwhichtheacquirerholds lessthan100%oftheequityinterestsintheacquireeatthe acquisitiondate:IFRS3pB64(o)(i) (i) theamountofthenon-controllinginterestinthe acquireerecognisedattheacquisitiondateandthe measurementbasisforthatamount;andIFRS3pB64(o)(ii) (ii) foreachnon-controllinginterestinanacquiree measuredatfairvalue,thevaluationtechniquesand keymodelinputsusedfordeterminingthatvalue;IFRS3pB64(p) (p) inabusinesscombinationachievedinstages:IFRS3pB64(p)(i) (i) theacquisition-datefairvalueoftheequityinterestin theacquireeheldbytheacquirerimmediatelybefore theacquisitiondate;andIFRS3pB64(p)(ii) (ii) theamountofanygainorlossrecognisedasaresult ofremeasuringtofairvaluetheequityinterestthein acquireeheldbytheacquirerbeforethebusiness combination(seeIFRS3para42)andthelineitemin thestatementofcomprehensiveincomeinwhichthat gainorlossisrecognised;andIFRS3pB64(q) (q)thefollowinginformation:IFRS3pB64(q)(i) (i) theamountsofrevenueandprofitorlossofthe acquireesincetheacquisitiondateincludedinthe consolidatedstatementofcomprehensiveincomefor thereportingperiod;andIFRS3pB64(q)(ii) (ii) therevenueandprofitorlossofthecombinedentity for the current reporting period as though the acquisitiondateforallbusinesscombinationsthat occurred during the year had been as of the beginning of the annual reporting period.

IFRS3pB64 4. Ifdisclosureofanyoftheinformationrequiredbythis subparagraphisimpracticable,theacquirerdisclosesthat factandexplainswhythedisclosureisimpracticable.IFRS3 usestheterm‘impracticable’withthesamemeaningasin IAS8,‘Accountingpolicies,changesinaccountingestimates anderrors’.

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IFRS3pB65 5. Forindividuallyimmaterialbusinesscombinationsoccurring duringthereportingperiodthatarematerialcollectively,the acquirerdisclosesinaggregatetheinformationrequiredby paragraphB64(e)-(q).

IFRS3pB66 6. Iftheacquisitiondateofabusinesscombinationisafterthe endofthereportingperiodbutbeforethefinancialstatements areauthorisedforissue,theacquirerdisclosestheinformation requiredbyIFRS3paraB64unlesstheinitialaccountingfor the business combination is incomplete at the time the financialstatementsareauthorisedforissue.Inthatsituation, theacquirerdescribeswhichdisclosurescouldnotbemade andthereasonswhytheycannotbemade.

2. Adjustments

IFRS3p61 1. Theacquirerdisclosesinformationthatenablesusersofits financialstatementstoevaluatethefinancialeffectsof adjustmentsrecognisedinthecurrentreportingperiodthat relate to business combinations that occurred in the period or previousreportingperiods.

3. Measurementperiod

IFRS3p62 1. TomeettheobjectiveinIFRS3para61,theacquirerdiscloses theinformationspecifiedinIFRS3paraB67.

IFRS3pB67 2. Tomeettheobjectiveinparagraph61,theacquirerdiscloses thefollowinginformationforeachmaterialbusiness combinationorintheaggregateforindividuallyimmaterial businesscombinationsthatarematerialcollectively: IFRS3pB67(a) (a)iftheinitialaccountingforabusinesscombinationis incomplete(seeIFRS3para45)forparticularassets, liabilities,non-controllinginterestsoritemsofconsideration andtheamountsrecognisedinthefinancialstatementsfor thebusinesscombinationhavebeendeterminedonly provisionally:IFRS3pB67 (i) thereasonswhytheinitialaccountingforthebusiness(a)(i), (ii) combinationisincomplete; (ii) theassets,liabilities,equityinterestsoritemsof considerationforwhichtheinitialaccountingis incomplete;andIFRS3pB67(a)(iii) (iii)thenatureandamountofanymeasurementperiod adjustmentsrecognisedduringthereportingperiodin accordancewithIFRS3para49.

4. Contingentconsideration

IFRS3pB67(b) 1. Foreachreportingperiodaftertheacquisitiondateuntilthe entitycollects,sellsorotherwiselosestherightto acontingentconsiderationasset,oruntiltheentitysettlesa contingent consideration liability or the liability is cancelled or expires: IFRS3pB67(b)(i) (a) anychangesintherecognisedamounts,includingany differencesarisinguponsettlement;IFRS3pB67(b)(ii) (b) anychangesintherangeofoutcomes(undiscounted) andthereasonsforthosechanges;andIFRS3pB67(b)(iii) (c) thevaluationtechniquesandkeymodelinputsusedto measure contingent consideration.

5. Contingent liabilities

IFRS3pB67(c) 1. For contingent liabilities recognised in a business combination,theacquirerdisclosestheinformationrequired byIAS37paras84and85foreachclassofprovision;

Refer to Section A5.16 for detailed IAS 37 para 84 and para 85 disclosure requirements.


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6. Goodwill

IFRS3pB67 1. Discloseareconciliationofthecarryingamountofgoodwill(d) atthebeginningandendofthereportingperiodshowing separately: IFRS3pB67 (a) thegrossamountandaccumulatedimpairmentlosses(d)(i) atthebeginningofthereportingperiod;IFRS3pB67 (b) additionalgoodwillrecognisedduringthereporting(d)(ii) period,exceptgoodwillincludedinadisposalgroup that,onacquisition,meetsthecriteriatobeclassified asheldforsaleinaccordancewith‘IFRS5,Non-current assetsheldforsaleanddiscontinuedoperations’;IFRS3pB67 (c) adjustmentsresultingfromthesubsequentrecognition(d)(iii) of deferred tax assets during the reporting period in accordancewithIFRS3para67;IFRS3pB67 (d) goodwillincludedinadisposalgroupclassifiedasheld(d)(iv) forsaleinaccordancewithIFRS5andgoodwill derecognisedduringthereportingperiodwithout havingpreviouslybeenincludedinadisposalgroup classifiedasheldforsale;IFRS3pB67 (e) impairmentlossesrecognisedduringthereporting(d)(v) periodinaccordancewithIAS36(IAS36requires disclosureofinformationabouttherecoverable amountandimpairmentofgoodwillinadditiontothis requirement);IFRS3pB67 (f) netexchangeratedifferencesarisingduringthe (d)(vi) reportingperiodinaccordancewithIAS21,‘Theeffects ofchangesinforeignexchangerates’;andIFRS3pB67 (g) anyotherchangesinthecarryingamountduringthe(d)(vii) reportingperiod;IFRS3pB67 (h) thegrossamountandaccumulatedimpairmentlosses(d)(viii) at the end of the reporting period.

36p133 2. Ifanyportionofthegoodwillrecognisedinabusiness combination during the period has not been allocated to a cash-generatingunit(groupofunits)atthereportingdate (seeIAS36para84),disclosetheamountoftheunallocated goodwilltogetherwiththereasonswhythatamountremains unallocated.

7. Evaluationofthefinancialeffectsofgainsandlosses recognised in the current reporting period

IFRS3pB67 (e) 1. Disclose the amount and an explanation of any gain or loss recognised in the current reporting period that both: IFRS3pB67 (e)(i) (a)relatestotheidentifiableassetsacquiredorliabilities assumedinabusinesscombinationthatwaseffected inthecurrentorpreviousreportingperiod;andIFRS3pB67 (e)(ii) (b)isofsuchasize,natureorincidencethatdisclosureis relevanttounderstandingthecombinedentity’s financialstatements.

IFRS3p63 2. IfthespecificdisclosuresrequiredbythisandotherIFRSs donotmeettheobjectivessetoutinIFRS3paras59and61, theacquirerdiscloseswhateveradditionalinformationis necessarytomeetthoseobjectives.

8. Early-adoptiondisclosure

IFRS3p64 3. Applythestandardprospectivelytobusinesscombinations forwhichtheacquisitiondateisonorafterthebeginningof thefirstannualreportingperiodbeginningonorafter1July 2009.Earlierapplicationispermitted.However,thisIFRSis applied only at the beginning of an annual reporting period that beginsonorafter30June2007.IfanentityappliesthisIFRS before1July2009,disclosethatfactandapplyIAS27(as amendedin2008)atthesametime.

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Disclosurechecklist2009–SectionsH1-H2

9. Other disclosures impacted by the early adoption of IFRS3Incometaxes

12p81(h) 1. Disclose separately: (a) Inrespectofdiscontinuedoperations,thetaxrelatingto: (i) thegainorlossondiscontinuance;and (ii) theprofitorlossfromtheordinaryactivitiesofthe discontinuedoperationfortheperiod,togetherwiththe correspondingamountsforeachpriorperiodpresented; 12p81(h) (b) Theamountofincometaxconsequencesofdividendsto shareholdersthatwereproposedordeclaredbeforethe financialstatementswereauthorisedforissue,butarenot recognisedasaliabilityinthefinancialstatements; 12p81(h) (c)Ifabusinesscombinationinwhichtheentityistheacquirer causesachangeintheamountrecognisesforitspre- acquisitiondeferredtaxasset(seeIAS12para67),the amountofthatchange;and 12p81(h) (d)Ifthedeferredtaxbenefitsacquiredinabusiness combinationarenotrecognisedattheacquisitiondatebut arerecognisedaftertheacquisitiondate(seeIAS12 para68),adescriptionoftheeventorchangein circumstancesthatcausedthedeferredtaxbenefitstobe recognised.

H2 IAS 27 Amendment, Consolidated and separate financial statements

1. Subsidiaries

27p41(a), (b), Disclosethefollowingintheconsolidatedfinancialstatements:(c) (a)thenatureoftherelationshipbetweentheparentand asubsidiarywhentheparentdoesnotown,directlyor indirectlythroughsubsidiaries,morethanhalfofthevoting power; (b)thereasonswhytheownership,directlyorindirectlythrough subsidiaries,ofmorethanhalfofthevotingorpotential votingpowerofaninvesteedoesnotconstitutecontrol; (c)theendofthereportingperiodofthefinancialstatements ofasubsidiarywhensuchfinancialstatementsareused toprepareconsolidatedfinancialstatementsandareas of a date or for a period that is different from that of the parent’sfinancialstatements,andthereasonforusinga differentdateorperiod;27p41(d) (d)thenatureandextentofanysignificantrestrictions (egresultingfromborrowingarrangementsorregulatory requirements)ontheabilityofsubsidiariestotransferfunds totheparentintheformofcashdividendsortorepayloans oradvances;27p41(e) (e)aschedulethatshowstheeffectsofanychangesina parent’sownershipinterestinasubsidiarythatdonotresult inalossofcontrolontheequityattributabletoownersof theparent;and27p41(f),(i),(ii) (f) ifcontrolofasubsidiaryislost,theparentshalldisclosethe gainorloss,ifany,recognisedinaccordancewith paragraph34; (g)theportionofthatgainorlossattributabletorecognising anyinvestmentretainedintheformersubsidiaryatitsfair valueatthedatewhencontrolislost;and (h)thelineitem(s)inthestatementofcomprehensiveincome inwhichthegainorlossisrecognised(ifnotpresented separatelyinthestatementofcomprehensiveincome).


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2. Separatefinancialstatements

27p42 1. Whenseparatefinancialstatementsarepreparedfora parentthat,inaccordancewithIAS27para10,electsnotto prepareconsolidatedfinancialstatements,discloseinthe separatefinancialstatements:27p42 (a) (a) thefactthatthefinancialstatementsareseparatefinancial statements;thattheexemptionfromconsolidationhasbeen used;thenameandcountryofincorporationorresidence oftheentitywhoseconsolidatedfinancialstatementsthat complywithIFRShavebeenproducedforpublicuse; andtheaddresswherethoseconsolidatedfinancial statementsareobtainable; 27p42 (b) (b) alistofsignificantinvestmentsinsubsidiaries,jointly controlledentitiesandassociates,includingthename, countryofincorporationorresidence,proportionof ownershipinterestand,ifdifferent,proportionofvoting powerheld;and27p42 (c) (c) adescriptionofthemethodusedtoaccountforthe investmentslistedunder(b).

27p43 2. Whenaparent(otherthanaparentcoveredbyIAS27 para42),venturerwithaninterestinajointlycontrolledentity oraninvestorinanassociatepreparesseparatefinancial statements,discloseinthoseseparatefinancialstatements:27p43 (a) (a)thefactthatthestatementsareseparatefinancial statementsandthereasonswhythosestatementsare preparedifnotrequiredbylaw;27p43 (b) (b)alistofsignificantinvestmentsinsubsidiaries,jointly controlledentitiesandassociates,includingthename, countryofincorporationorresidence,proportionof ownershipinterestand,ifdifferent,proportionofvoting powerheld;and27p43 (c) (c)adescriptionofthemethodusedtoaccountforthe investmentslistedunder(b);

27p43 Alsoidentifythefinancialstatementspreparedinaccordance withIAS27para9,orIAS28andIAS31towhichtheyrelate.

3. Otherdisclosures–accountingpolicies

27p42(c) 1. Discloseintheparent’sseparatefinancialstatements(that electsnottoprepareconsolidatedfinancialstatements)the accountingpoliciesadoptedwithrespecttotheinvestments listedunderIAS27para42(b).

27p43 (c) 2. Discloseintheparent’sseparatefinancialstatementsthe accountingpoliciesadoptedwithrespecttotheinvestments listedunderIAS27para43(b)

27p27 3. Presentnon-controllinginterestsintheconsolidatedstatement offinancialpositionwithinequity,separatelyfromtheequityof theownersoftheparent

4. Transition disclosures

27p45 1. TheamendmentstoIAS27madein2008applyforannual periodsbeginningonorafter1July2009.Earlierapplication ispermitted.However,anentityshouldnotapplythese amendmentsforannualperiodsbeginningbefore1July 2009unlessitalsoappliesIFRS3(asrevisedin2008).Ifan entityappliestheamendmentsbefore1July2009,disclose thatfact.Theamendmentsapplyretrospectively,withthe followingexceptions:27p45 (a) (a)theamendmenttoIAS27para28forattributingtotal comprehensiveincometotheownersoftheparentandto thenon-controllinginterests,evenifthisresultsinthenon- controllinginterestshavingadeficitbalance.Donot

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thereforerestateanyprofitorlossattributionforreporting periodsbeforetheamendmentisapplied;27p45 (b) (b)therequirementsinIAS27paras30and31foraccounting forchangesinownershipinterestsinasubsidiaryafter controlisobtained.Therefore,therequirementsinparas 30and31donotapplytochangesthatoccurredbeforean entityappliestheamendments;and27p45 (c) (c)therequirementsinIAS27paras34-37forthelossof control of a subsidiary. Do not restate the carrying amount ofaninvestmentinaformersubsidiaryifcontrolwaslost beforeitappliesthoseamendments.Inaddition,donot recalculate any gain or loss on the loss of control of a subsidiary that occurred before the amendments are applied.

5. Other disclosures impacted by the early adoption of IAS 27

(a) Non-currentassetsheldforsale–presentingincomefrom continuing and discontinued operations

IFRS5p 33 (d) 1. Disclose the amount of income from continuing operations andfromdiscontinuedoperationsattributabletoownersof the parent. These disclosures may be presented either in the notesorinthestatementofcomprehensiveincome.

(b) Statementofcashflows–changesinownershipinterestsin subsidiaries and other businesses

7p39 1. Discloseseparatelytheaggregatecashflowsarisingfrom obtainingorlosingcontrolofsubsidiariesorotherbusinesses, andclassifythecashflowsasinvestingactivities.

7p40(a), (b), 2. Disclose,inaggregate,inrespectofbothobtainingandlosing(c), (d) control of subsidiaries or other businesses during the period eachofthefollowing: (a) thetotalconsiderationpaidorreceived; (b) theportionoftheconsiderationconsistingofcashandcash equivalents; (c) theamountofcashandcashequivalentsinthesubsidiaries; or (d) otherbusinessesoverwhichcontrolisobtainedorlost;and theamountoftheassetsandliabilities,otherthancashor cashequivalents,inthesubsidiariesorotherbusinesses overwhichcontrolisobtainedorlost,summarisedbyeach majorcategory.

(c) Informationtobepresentedinthestatementoffinancial position

1p54(q) 1. Asaminimumthestatementoffinancialpositionincludesnon- controllinginterest,presentedwithinequity.

(d) Changesinequity

1p106(a) 1. Presentastatementofchangesinequityshowinginthe statement: (a) totalcomprehensiveincomefortheperiod,showing separately the total amounts attributable to (i) ownersoftheparent;and (ii) non-controllinginterests; 1p106(b) (b) foreachcomponentofequity,theeffectsofretrospective applicationorretrospectiverestatementrecognisedin accordancewithIAS8;and 1p106 (d) (c) foreachcomponentofequity,areconciliationbetween carryingamountatthebeginningandtheendoftheperiod, separately disclosing changes resulting from: (i) profitorloss; (ii) eachitemofothercomprehensiveincome;and (iii) transactionswithownersintheircapacityasowners, showingseparatelycontributionsbyanddistributions


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toownersandchangesinownershipinterestsin subsidiaries that do not result in a loss of control

(e) Informationtobepresentedinthestatementof comprehensiveincome

1p83(a) 1. Discloseinthestatementofcomprehensiveincomeas allocations for the period: (a) profitorlossattributableto: (i) non-controllinginterest;and (ii) ownersoftheparent;and1p83(b) (b) totalcomprehensiveincomefortheperiodattributableto: (i) non-controllinginterest;and (ii) ownersoftheparent.

H3 Amendments to IFRS 5 Non-current assets held for sale and discontinued operations

Early adoption TheamendmenttoIFRS5asaresultofthe‘Improvementsto IFRSs2008’iseffectiveforannualperiodsbeginningonor after1July2009.Earlyapplicationispermittedprovided thatIAS27(2008)isappliedatthesametime.Ifanentity appliestheIFRS5amendmentsbefore1July2009,discloses that fact.

IFRSp36A Presenting discontinued operations Anentitythatiscommittedtoasaleplaninvolvingthelossof controlofasubsidiarydisclosestheinformationrequiredby IFRS5paras33and36whenthesubsidiaryisadisposalgroup thatmeetsthedefinitionofadiscontinuedoperationin accordancewithIFRS5para32).

H4 IFRIC 17, Distributions of non-cash assets to owners IFRIC17p18 1. IFRIC17,‘Distributionsofnon-cashassetstoowners’, publishedin2008,providesguidanceondistributionsofnon- cashassetstoowners,anddistributionsinwhichtheowner isgiventhechoiceofreceivingeithernon-cashassetsora cashalternative.IFRIC17isappliedprospectivelyforannual periodsbeginningonorafter1July2009,withearlyapplication permittedprovidedthatIFRS3(revised),IAS27(revised)and the related amendments to IFRS 5 are applied at the same time. Retrospectiveapplicationisnotpermitted.

IFRIC17p15 2. Whenanentitysettlesadividendpayable,presentany differencebetweenthecarryingamountoftheassets distributedandthecarryingamountofthedividendpayableas aseparatelineiteminprofitorloss.

IFRIC17p16 3. Fordistributionsdisclose: IFRIC17p16(a) (a) thecarryingamountofthedividendpayableatthe beginningandendoftheperiod;and IFRIC17p16(b) (b) theincreaseordecreaseinthecarryingamountrecognised intheperiodasaresultofthechangeinthefairvalueofthe assets to be distributed.

IFRIC17p17 4. Iftheentitydeclaresadividendtodistributeanon-cashasset aftertheendofareportingperiodbutbeforethefinancial statementsareauthorisedforissue,disclose: (a) thenatureoftheassettobedistributed; (b) thecarryingamountoftheassettobedistributedasofthe endofthereportingperiod;and (c) whetherfairvaluesaredetermined,inwholeorinpart, directlybyreferencetopublishedpricequotationsinan activemarketorareestimatedusingavaluationtechnique andthemethodusedtodeterminefairvalueand,whena valuationtechniqueisused,theassumptionsapplied.

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H5 IFRIC 18, Transfers of Assets from Customers

Early adoption IFRIC18p22 IFRIC18,‘TransfersofAssetsfromCustomers’,publishedin 2009,providesguidanceontransfersofproperty,plantand equipment(orcashtoacquireit)forentitiesthatreceivesuch contributionsfromtheircustomers.IFRIC18isapplied prospectivelytotransfersofassetsfromcustomersreceived onorafter1July2009;earlierapplicationispermitted,provided thatthenecessaryvaluationsandotherinformationwere obtained at the time those transfers occurred. An entity disclosesthedatefromwhichtheinterpretationwasapplied.s.

H6 Improvements to IFRS 2009 (annual improvements project)

1. IFRS5,Non-currentassetsheldforsaleanddiscontinued operations

IFRS5p5B Presenting non-current assets held for sale and discontinued operations Anentitywithnon-currentassets(ordisposalgroups)classified as held for sale or discontinued operations applies the disclosurerequirementsofIFRS5.DisclosuresinotherIFRSs donotapplytosuchassets(ordisposalgroups)unlessthose IFRSsrequire: (a)specificdisclosuresinrespectofnon-currentassets(or disposalgroups)classifiedasheldforsaleordiscontinued operations;or (b)disclosuresaboutmeasurementofassetsandliabilities withinadisposalgroupthatarenotwithinthescopeof themeasurementrequirementofIFRS5andsuch disclosuresarenotalreadyprovidedinothernotestothe financialstatements.

2. IFRS8,Operatingsegments

IFRS8 Operating segments information about profit or loss, assets and liabilities 1. Disclosethemeasureofprofitorlossforeachreportable segment.

2. Disclose the measure of total assets and liabilities for each reportable segment if such amounts are regularly providedtothechiefoperatingdecisionmaker.


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IFRS Disclosure checklist 2009 is designed for the information of readers. While every effort has been made to ensure accuracy, information contained in this publication may not be comprehensive or may have been omitted that may be relevant to a particular reader. In particular, this checklist is not intended as a study of all aspects of IFRS, or as a substitute for reading the standards and interpretations when dealing with specific issues. No responsibility for loss to any person acting or refraining from acting as a result of any material in this checklist can be accepted by PricewaterhouseCoopers. Recipients should not act on the basis of this checklist without seeking professional advice.

Presentation of income under IFRSTrends in use and presentation of non-GAAP income measures in IFRS financial statements.

IFRS: The European investors’ viewImpact of IFRS reporting on fund managers’ perceptions of value and their investment decisions.

Joining the dots – survey of narrative reporting practicesSurvey of the quality of narrative reporting among FTSE 350 companies, identifying where action is needed in the next reporting cycle for companies to gain a competitive edge and help restore trust in this tough economic environment.

Recasting the reporting modelSurvey of corporate entities and investors, and PwC insights on how to simplify and enhance communications.

Measuring assets and liabilitiesSurvey of investment professionals, looking at their use of the balance sheet in analysing performance and the measurement bases for assets and liabilities that best suit their needs.

Performance statement: coming together to shape the future2007 survey of what investment professionals and corporate management require to assess performance.

Corporate reporting: is it what investment professionals expect?Survey looking at the information that companies provide, and whether investors and analysts have the information they need to assess corporate performance.

IFRS 7: Potential impact of market risks Examples of how market risks can be calculated.

The EU Transparency Directive Guidance for listed companies required to implement the EU’s new Transparency Directive rules relating to periodic reporting requirements.

© 2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2009 PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2009

IFRS technical publications IFRS surveys and market issues

Corporate governance publications

Audit Committees – Good Practices for Meeting Market ExpectationsProvides PwC views on good practice and summarises audit committee requirements in over 40 countries.

IFRS for SMEs – pocket guide 2009Provides a summary of the recognition and measurement requirements in the ‘IFRS for small and medium-sized entities’ published by the International Accounting Standards Board in July 2009.

Similarities and differences – a comparison of ‘full IFRS’ and IFRS for SMEs60-page publication comparing the requirements of the IFRS for small and medium-sized entities with ‘full IFRS’ issued up to July 2009. An executive summary outlines some key differences that have implications beyond the entity’s reporting function.

Comperio – Your path to knowledgeOn-line library of global financial reporting and assurance literature. Contains full text of financial reporting standards of US GAAP and IFRS, plus materials of specific relevance to 10 other territories. Register for a free trial at www.pwccomperio.com

P2P IFRS – from principle to practice Interactive IFRS trainingPwC’s interactive electronic learning tool brings you up to speed on IFRS. Contains 23 hours of learning in 40 interactive modules. Up to date as of March 2009. For more information, visit www.pwc.com/ifrs

PwC inform – IFRS on-lineOn-line resource for finance professionals globally, covering financial reporting under IFRS (and UK GAAP). Use PwC inform to access the latest news, PwC guidance, comprehensive research materials and full text of the standards. The search function and intuitive layout enable users to access all they need for reporting under IFRS. Register for a free trial at www.pwcinform.com

IFRS pocket guide 2009Provides a summary of the IFRS recognition and measurement requirements. Including currencies, assets, liabilities, equity, income, expenses, business combinations and interim financial statements.

IFRS newsMonthly newsletter focusing on the business implications of the IASB’s proposals and new standards. Subscribe by emailing [email protected].

Illustrative interim �nancial information for existing preparers Illustrative information, prepared in accordance with IAS 34, for a fictional existing IFRS preparer. Includes a disclosure checklist and IAS 34 application guidance. Reflects standards issued up to 31 March 2009.

Illustrative IFRS corporate consolidated �nancial statements for 2009 year endsIllustrative set of consolidated financial statements for an existing preparer of IFRS. Includes an appendix showing example disclosures under IFRS 3 (revised). Included with Manual of accounting – IFRS 2010; also available separately.

Illustrative consolidated �nancial statements

Realistic sets of financial statements – for existing IFRS preparers in the above sectors – illustrating the required disclosure and presentation.

Making sense of a complex world: IFRIC 13 – Customer loyalty programmesConsiders the accounting and practical implications for telecom operators that arise from the guidance in IFRIC 13, ‘Customer loyalty programmes’. Contact [email protected] for hard copies.

Questions and answers on impairment of non-�nancial assets in the current crisisProvides practical guidance on impairment indicators to look out for, timing of impairment tests, suggestions on how to do an impairment test in volatile markets and what disclosures are critical to the market and regulators in the current environment.

Segment reporting – an opportunity to explain the businessSix-page flyer explaining high-level issues for management to consider when applying IFRS 8, including how the standard will change reporting and what investors want to see.

Top 10 tips for impairment testingThe current economic slowdown will increase the likelihood that impairment charges will need to be taken and appropriate disclosures made. Each tip is accompanied by an explanation or illustrative example.

Manual of accounting – Financial instruments 2010Comprehensive guidance on all aspects of the requirements for financial instruments accounting. Detailed explanations illustrated through worked examples and extracts from company reports.Included with Manual of accounting – IFRS 2010; also available separately.

World Watch magazineGlobal magazine with news and opinion articles on the latest developments and trends in governance, financial reporting, narrative reporting, sustainability and assurance.

IFRS for SMEs – Illustrative consolidated �nancial statements 2010Realistic set of financial statements prepared under IFRS for small and medium entities, illustrating the required disclosure and presentation.

IFRS for SMEs publications

IFRS tools

Hard copies can be ordered from cch.co.uk/ifrsbooks (unless indicated otherwise) or via your local PricewaterhouseCoopers office. See the full range of our services at www.pwc.com/ifrs

About PricewaterhouseCoopersPricewaterhouseCoopers provides industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 155,000 people in 153 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

Contacting PricewaterhouseCoopersPlease contact your local PricewaterhouseCoopers office to discuss how we can help you make the change to International Financial Reporting Standards or with technical queries.

Manual of accounting – IFRS 2010 Global guide to IFRS providing comprehensive practical guidance on how to prepare financial statements in accordance with IFRS. Includes hundreds of worked examples and extracts from company reports. The Manual is a three-volume set comprising:

Manual of accounting – IFRS 2010Manual of accounting – Financial instruments 2010Illustrative IFRS corporate consolidated financial

statements for 2009 year ends

A practical guide to capitalisation of borrowing costsGuidance in question and answer format addressing the challenges of applying IAS 23R, including how to treat specific versus general borrowings, when to start capitalisation and whether the scope exemptions are mandatory or optional.

A practical guide to new IFRSs for 200940-page guide providing high-level outline of the key requirements of new IFRSs effective in 2009, in question and answer format.

A practical guide to segment reporting Provides an overview of the key requirements of IFRS 8, ‘Operating segments’ and some points to consider as entities prepare for the application of this standard for the first time. See also ‘Segment reporting – an opportunity to explain the business’ below.

A practical guide to share-based paymentsAnswers the questions we have been asked by entities and includes practical examples to help management draw similarities between the requirements in the standard and their own share-based payment arrangements. November 2008.

Preparing your �rst IFRS �nancial statements: Adopting IFRSOutlines how companies should address the process of selecting their new IFRS accounting policies and applying the guidance in IFRS 1. Provides specific considerations for US market.

Financial instruments under IFRS – A guide through the maze High-level summary of IAS 32, IAS 39 and IFRS 7, updated in June 2009. For existing IFRS preparers and first-time adopters.

IAS 39 – Achieving hedge accounting in practiceCovers in detail the practical issues in achieving hedge accounting under IAS 39. It provides answers to frequently asked questions and step-by-step illustrations of how to apply common hedging strategies.

IAS 39 – Derecognition of �nancial assets in practiceExplains the requirements of IAS 39, providing answers to frequently asked questions and detailed illustrations of how to apply the requirements to traditional and innovative structures.

IFRS 3R: Impact on earnings – the crucial Q&A for decision-makersGuide aimed at finance directors, financial controllers and deal-makers, providing background to the standard, impact on the financial statements and controls, and summary differences with US GAAP.

IFRS disclosure checklist 2009Outlines the disclosures required by all IFRSspublished up to October 2009

Only available in electronic format. To download visit www.pwc.com/ifrs

7mm spine

7mm spine

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www.pwc.com/ifrs

IFRS disclosure checklist 2009

IFRS

disclosure checklist 2009

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