IFRS disclosure checklist 2008 - PwCdesignation ‘DV’ (disclosure voluntary) indicates that the relevant IFRS encourages, but does not require, the disclosure. Additional notes

IFRS disclosure checklist 2008

IFRS technical publications

Adopting IFRS – A step-by-step illustration ofthe transition to IFRSIllustrates the steps involved in preparing the firstIFRS financial statements. It takes into account theeffect on IFRS 1 of the standards issued up to andincluding March 2004.

Financial instruments under IFRS High-level summary of the revised financial instru-ments standards issued in December 2003, updat-ed to reflect IFRS 7 in September 2006. For exist-ing IFRS preparers and first-time adopters.

Financial Reporting in HyperinflationaryEconomies – Understanding IAS 292006 update (reflecting impact of IFRIC 7) of aguide for entities applying IAS 29. Provides anoverview of the standard’s concepts, descriptionsof the procedures and an illustrative example of itsapplication.

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

Illustrative Consolidated Financial Statements

• Banking, 2006• Corporate, 2008• Insurance, 2006

• Investment funds, 2006• Investment property, 2006

Realistic sets of financial statements – for existingIFRS preparers in the above sectors – illustrating therequired disclosure and presentation.

Share-based Payment – a practical guide to applying IFRS 2Assesses the impact of the new standard, looking atthe requirements and providing a step-by-step illus-tration of how to account for share-based paymenttransactions.

SIC-12 and FIN 46R – The Substance of ControlHelps those working with special purpose entities toidentify the differences between US GAAP and IFRSin this area, including examples of transactions andstructures that may be impacted by the guidance.

IFRS Pocket Guide 2008Provides a summary of the IFRS recognition and measurement requirements. Including currencies,assets, liabilities, equity, income, expenses, busi-ness combinations and interim financial state-ments.

IAS 39 – Derecognition of financial assets in practiceExplains the requirements of IAS 39, providinganswers to frequently asked questions and detailedillustrations of how to apply the requirements to tra-ditional and innovative structures.

Illustrative interim financial information for existing preparers Illustrative information, prepared in accordance withIAS 34, for a fictional existing IFRS preparer. Includes a disclosure checklist and IAS 34 applica-tion guidance. Reflects standards issued up to 31March 2008.

IFRS NewsMonthly newsletter focusing on the business impli-cations of the IASB’s proposals and new standards.

IFRS for SMEs (proposals) – Pocket Guide 2007Provides a summary of the recognition and meas-urement requirements in the proposed ‘IFRS forSmall and Medium-Sized Entities’ published by theInternational Accounting Standards Board inFebruary 2007.

PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2008

IFRS Manual of Accounting 2008Provides expert practical guidance on howgroups should prepare their consolidatedfinancial statements in accordance with IFRS.Comprehensive publication including hundredsof worked examples, extracts from companyreports and model financial statements.

Understanding financial instruments – A guide to IAS 32, IAS 39 and IFRS 7Comprehensive guidance on all aspects of therequirements for financial instruments accounting.Detailed explanations illustrated through workedexamples and extracts from company reports.

Disclosure Checklist 2008Outlines the disclosures required by all IFRSs published up to October 2008.

A practical guide to segment reporting Provides an overview of the key requirements ofIFRS 8, ‘Operating Segments’ and some points toconsider as entities prepare for the application ofthis standard for the first time. Includes a questionand answer section. IAS 39 – Achieving hedge accounting in practice

Covers in detail the practical issues in achievinghedge accounting under IAS 39. It provides answersto frequently asked questions and step-by-stepillustrations of how to apply common hedgingstrategies.

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International Financial Reporting Standards – Disclosure checklist 2008

Introduction

The IFRS disclosure checklist has been updated to take into account standards and interpretations amended or issued up to 17 October 2008.

The most recently issued standards and interpretations from the IASB and IFRIC are: Application date• IAS1Revised,‘Presentationoffinancialstatements’ 1January2009*• IAS23Revised,‘Borrowingcosts’ 1January2009*• IAS27Amendment,‘Consolidatedandseparatefinancialstatements’ 1July2009*• IAS32andIAS1Amendment,‘Puttablefinancialinstrumentsandobligations arisingonliquidation’ 1January2009*• IAS39,Financialinstruments:‘Recognitionandmeasurement−Amendments foreligiblehedgeditems’ 1July2009*• IFRS1andIAS27Amendment,‘Costofaninvestmentonfirst-timeadoption’ 1January2009*• IFRS2Amendment,‘Vestingconditionsandcancellations’ 1January2009*• IFRS3Amendment,‘Businesscombinationsandconsequentialamendments’ 1July2009*• IFRS8,‘Operatingsegments’ 1January2009*• IFRIC12,‘Serviceconcessionarrangements’ 1January2008*• IFRIC13,‘Customerloyaltyprogrammes’ 1July2008*• IFRIC14,‘IAS19,Thelimitonadefinedbenefitasset,minimumfunding requirementsandtheirinteraction’ 1January2008*• IFRIC15,‘Agreementsfortheconstructionofrealestate’ 1January2009• IFRIC16,‘Hedgesofanetinvestmentinaforeignoperation’ 1October2008

TheamendmentsresultingfromtheMay2008AnnualImprovementsprojectare: Application date• IFRS5,‘Non-currentassetsheldforsaleanddiscontinuedoperations’ 1July2009*• IAS1,‘Presentationoffinancialstatements’ 1January2009*• IAS16,‘Property,plantandequipment’ 1January2009*• IAS19,‘Employeebenefits’ 1January2009*• IAS20,‘Governmentgrantsanddisclosureofgovernmentassistance’ 1January2009*• IAS23,‘Borrowingcosts’ 1January2009*• IAS27,‘Consolidatedandseparatefinancialstatements’ 1January2009*• IAS28,‘Investmentsinassociates’ 1January2009*• IAS29,‘Financialreportinginhyperinflationaryeconomies’ 1January2009*• IAS31,‘Interestsinjointventures’ 1January2009*• IAS36,‘Impairmentofassets’ 1January2009*• IAS38,‘Intangibleassets’ 1January2009*• IAS39,‘Financialinstruments:Recognitionandmeasurement’ 1January2009*• IAS40,‘Investmentproperty’ 1January2009*• IAS41,‘Agriculture’ 1January2009* *Earlierapplicationispermitted(anddisclosureofearlyapplicationisrequired).Earlyadoptersofthesestandardsshouldbeawarethattheremaybeconsequentialamendmentsthataffectthedisclosurerequirements of other standards.

The checklist does not address the measurement and recognition requirements of IFRS; a thorough readingofthosestandardsandinterpretationsthatarerelevanttothereportingentity’scircumstanceswillbenecessary.ThisdisclosurechecklistdoesnotincludeIAS34,‘Interimfinancialreporting’.

Disclosurerequirementsresultingfromstandardsandinterpretationsthathavebeenissuedandareeffectiveforannualperiodsbeginningonorafter1January2008areincludedinSectionA.SectionHsetsoutthedisclosurerequirementsofstandardsandinterpretationsinissueat1January2008andthatareeffectiveforannualreportingperiodsbeginningonorafter1January2008.

Itispossiblethatstandardsandinterpretationsthatwillbeapplicabletofinancialstatementsforperiodsbeginningonorafter1January2008couldbeamended.AnysuchchangesandadditionalrequirementswillneedtobeconsideredwhenpreparingfinancialstatementsinaccordancewithIFRS.

This checklist is intended for general reference purposes only; it is not a substitute for reading thestandardsandinterpretationsthemselves,orforprofessionaljudgementastothefairnessofpresentation.FurtherspecificinformationmayberequiredinordertoensurefairpresentationunderIFRS depending on the circumstances. Additional accounting disclosures may be required in order to complywithlocallaws,nationalfinancialreportingstandardsand/orstockexchangeregulations.

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Structure of disclosure checklist

Section A Disclosures for consideration by all entities Section B Disclosures required of all entities but only in certain situations Section C Industry-specificdisclosuresSection D Additional disclosures required of listed entitiesSection E Additional disclosures required of entities that issue insurance contracts Section F AdditionaldisclosuresrequiredforretirementbenefitplansSection GSuggesteddisclosuresforfinancialreviewoutsidethefinancialstatementsSection H DisclosuresrequiredofentitiesthatearlyadoptIFRSseffectiveforannualperiods beginningafter1January2008

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.

MaterialityisdefinedinIAS1paragraph11,andinparagraphs29and30oftheIASB’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

A1 General disclosures 5 1. Generaldisclosures 7 2. Presentationandfunctionalcurrency 7 3. Otherdisclosures 8

A2 Accounting policies 9 1.Generaldisclosures 9 2.Specificpolicies 9 3.Changesinaccountingpolicy 11

A3 Income statement (and related notes) 13 1.Generaldisclosures 13 2.Individualitems 13 3. Incometax 16 4.Extraordinaryitems 16

A4 Statement of changes in shareholders’ equity (and related notes) 16 1.Statementofchangesinequity 16 2.Statementofrecognisedincomeandexpense 17 3. Generaldisclosures 18

A5 Balance sheet (and related notes) 19 1.Generaldisclosures 19 2. Measurement uncertainty 20 3.Property,plantandequipment 21 4.Investmentproperty 22 5.Intangibleassets(excludinggoodwill) 24 6.Goodwilland‘negativegoodwill’ 25 7.Impairmentofassets 25 8. Associates 28 9.Jointventures 29 10.Subsidiaries 29 11.Investments–financialassets 30 12.Inventory 30 13.Tradeandotherreceivables 31 14.Incometaxes 31 15.Tradeandotherpayables 32 16.Provisions 32 17.Post-employmentbenefits–definedbenefitplans 38 18.Leaseliabilities 36 19.Borrowingsandotherliabilities 37 20.Governmentgrants 38 21.Related-partytransactions 38 22.Commitments 39 23.Contingencies 39 24.Eventsafterthebalancesheetdate 40

A6 Cash flow statement 41 1.Generalpresentation 41 2.Individualitems 42

A7 Business combinations and disposals 43 1.Businesscombinations 43 2.Disposals 45

A8 Financial instruments 45 1. Generaldisclosures 45 2. Categoriesoffinancialassetsandfinancialliabilities 45 3. Financialassetsorfinancialliabilitiesatfairvaluethroughprofitorloss 45 4. Reclassification 46 5. Derecognition 47 6. Collateral 47 7. Allowanceaccountforcreditlosses 48 8. Compoundfinancialinstrumentswithmultipleembeddedderivatives 48 9. Defaultsandbreaches 48 10.Incomestatementandequity 48

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A8 11. Otherdisclosures 49 12. Natureandextentofrisksarisingfromfinancialinstruments 52 13. Qualitativedisclosures 52 14. Quantitativedisclosures 52 15. Capitaldisclosures 55 16. Financialguarantees 55

A9 Non-current assets held for sale and discontinued operations 56

Section B Disclosures required of all entities but only in certain situations 59

B1 Correction of prior-period errors 61

B2 Reporting in the currency of a hyperinflationary economy 61

B3 Uncertainties about going concern 62

B4 Departure from IFRS 62

B5 Change of year-end 62

B6 Intermediate parent company – consolidated financial statements not presented 63

B7 Share-based payments 63

B8 First-time adoption of IFRS 65

Section C Industry-specific disclosures 67

C1 Construction contracts 69

C2 Agriculture 69

C3 Public service concession arrangements 71

C4 Accounting by a lessor 71

C5 Decommissioning, restoration and environmental rehabilitation funds 72

Section D Additional disclosures required of listed entities 75

D1 Segment reporting 77

D2 Earnings per share 80

Section E Additional disclosures required of entities that issue insurance contracts 83

Section F Disclosures required for retirement benefit plans 89

Section G Suggested disclosures for financial review outside the financial statements 93

Section H Disclosures required of entities that early adopt IFRSs effective for annual periods beginning after 1 January 2008 97

H1 IFRS 1 and IAS 27 Amendment, Cost of an investment on first-time adoption 99

H2 IFRS 2 Amendment, Vesting conditions and cancellations 99

H3 IFRS 3 Amendment, Business combinations and consequential amendments 99

H4 IFRS 8, Operating segments 104

H5 IAS 1 Revised, Presentation of financial statements 107

H6 IAS 23 Revised, Borrowing costs 115

H7 IAS 27 Amendment, Consolidated and separate financial statements 115

H8 IAS 32 and IAS 1 Amendment, Puttable financial instruments and obligations arising on liquidation 118

H9 IAS 39, Financial instruments: Recognition and measurement, Amendments for eligible hedged items 120

H10 IFRIC 13, Customer loyalty programmes 120

H11 IFRIC 15, Agreements for the construction of real estate 120

H12 IFRIC 16, Hedges of a net investment in a foreign operation 121

H13 Improvements to IFRS 2008 121

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A1 General disclosures

38p118(a) 1. Generaldisclosures

1p8 1. Includethefollowingcomponentsinthefinancialstatements: (a) abalancesheet; (b)anincomestatement; (c)astatementofchangesinequityshowingeither: (i) allchangesinequity;or (ii) changesinequityotherthanthosearisingfrom transactionswithequityholdersactingintheircapacity as equity holders; (d)acashflowstatement;and (e) notes,comprisingasummaryofsignificantaccounting policiesandotherexplanatorynotes.

1p44 2. Financialstatementsshouldbeclearlyidentifiedand distinguished from other information in the same published document (for example, by providing an index to the annual report).

1p46 3. Clearlyidentifyeachcomponentofthefinancialstatements.

10p17 4. Includethefollowinginthenotestothefinancialstatements: (a) thedatewhenthefinancialstatementswereauthorisedfor issue; (b) thebodywhogavethatauthorisation;and (c)whethertheentity’sownersorothershavethepowerto amendthefinancialstatementsafterissue.

1p46 5. Displayprominentlythefollowinginformationandrepeat whennecessaryforaproperunderstandingoftheinformation presented: (a) thenameofthereportingentityorothermeansof identification,andanychangeinthatinformationfromthe preceding balance sheet date; (b)whetherthefinancialstatementscovertheindividualentity or a group of entities; (c)thebalancesheetdateortheperiodcoveredbythe financialstatements,whicheverisappropriatetotherelated componentofthefinancialstatements; (d)thepresentationcurrency;and (e)levelofprecisionusedinthepresentationoffiguresinthe financialstatements(for example, thousands or millions of units of the presentation currency).

1p14 6. DisclosethatthefinancialstatementscomplywithIFRS(as definedbyIAS1para11).

Financial statements should not be described as complying with IFRS unless they comply with all the requirements of IFRS. An explicit and unreserved statement of compliance with IFRS should be made in the notes.

2. Presentationandfunctionalcurrency 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 requirements of each applicable standard and each applicable interpretation including the translation method set out in IAS 21 paras39and42.

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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 information is displayed; and (c)disclosetheentity’sfunctionalcurrencyandthemethodof translation used to determine the supplementary information.

3. Otherdisclosures

1p103 1. Thenotestoanentity’sfinancialstatementsshould: (a)presentinformationabout: (i) thebasisofpreparationofthefinancialstatements;and (ii) thespecificaccountingpoliciesselectedandappliedfor significanttransactionsandevents; (b) disclosetheinformationrequiredbyIFRSthatisnot presentedelsewhereinthefinancialstatements;and (c)provideadditionalinformationthatisnotpresentedon thefaceofthefinancialstatementsbutisrelevanttoan understanding of any of them.

1p104 2. Presentthenotestothefinancialstatementsinasystematic manner (refer also to IAS 1 para 105).

1p104 3. Eachitemonthefaceofthebalancesheet,incomestatement andcashflowstatementshouldbecross-referencedtoany related information in the notes.

4. Comparatives: 1p36 (a)disclosecomparativeinformationunlessanIFRSpermitsor requiresotherwise;1p36 (b)includecomparativeinformationinnarrativeanddescriptive informationwhenitisrelevanttoanunderstandingofthe currentperiod’sfinancialstatements;1p38 (c)disclosethenature,amountof,andreasonfor,any reclassificationofcomparativeamounts;and1p39 (d)whenitisimpracticabletoreclassifycomparativeamounts, disclose the reason for not reclassifying and the nature of thechangesthatwouldhavebeenmadeifamountswere reclassified. 1p126 5. Ifnotdisclosedelsewhereintheinformationpublished withthefinancialstatements,disclose: (a) theentity’sdomicile; (b)theentity’slegalform; (c)theentity’scountryofincorporation; (d)theaddressoftheentity’sregisteredoffice(orprincipal placeofbusiness,ifdifferentfromtheregisteredoffice); (e)descriptionofthenatureoftheentity’soperationsandits principalactivities;24p12 (f) nameoftheimmediateparententity(orothercontrolling shareholder);

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1p126(c) (g) nameoftheultimateparententity;and24p12 (h) nameoftheultimatecontrollingparty.

24p12 If neither the parent entity nor the ultimate parent entity present financialstatementsavailableforpublicuse,disclosethename ofthenextmostseniorparentthatdoesso.

DV, 1p9 6. Companiesmaypresentoutsidethefinancialstatements afinancialreviewbymanagementthatdescribesandexplains themainfeaturesoftheentity’sfinancialperformanceand financialposition,andtheprincipaluncertaintiesitfaces.Refer toSectionG.

IFRS 6p24(b) 7. Companieswithexplorationandevaluationactivitiesdisclose theamountsofassets,liabilities,incomeandexpenseand operatingandinvestingcashflowsarisingfromtheexploration forandevaluationofmineralresources.

A2 Accounting policies

1. Generaldisclosures

1p108 1. Theaccountingpoliciessectionshoulddescribethefollowing: (a)themeasurementbasis(orbases)usedintheaccounts(for example,historicalcost,andhistoricalcostmodifiedbythe revaluationofcertainnon-currentassets);and (b)theotheraccountingpoliciesusedthatarerelevanttoan understandingofthefinancialstatements.

27p28 2. Inconsolidatedfinancialstatements,theresultsofall subsidiaries,associatesandjointventuresshouldbe28p26 consolidated,equityaccountedorproportionallyconsolidated,31p33 asapplicable,usinguniformaccountingpoliciesforlike transactionsandothereventsinsimilarcircumstances.

8p28 3. Inaccordancewiththetransitionprovisionsofeachstandard, disclosewhetheranystandardshavebeenadoptedbythe reportingentitybeforetheeffectivedate.

1p16 4. Inappropriateaccountingpoliciesarenotrectifiedeitherby disclosure of the accounting policies used or by notes or explanatorymaterial.

2. Specificpolicies

Disclosureofthefollowingaccountingpoliciesisrequired:1p110 1. Consolidationprinciples,includingaccountingfor: (a)subsidiaries;and (b)associates.

1p110 2. Business combinations.

31p57 3. Jointventures,includingthemethodtheventurerusesto recogniseitsinterestsinjointlycontrolledentities.

1p110 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-occupiedproperty and from property held for sale in the ordinary course of business; (d)themethodsandsignificantassumptionsappliedindetermining thefairvalueofinvestmentproperty,includingastatement onwhetherthedeterminationoffairvaluewassupportedby marketevidenceorwasmoreheavilybasedonotherfactors (whichshouldbedisclosed)becauseofthenatureofthe property and lack of comparable market data; and (e) theextenttowhichthefairvalueofinvestmentproperty(as measuredordisclosedinthefinancialstatements)isbasedon avaluationbyanindependentvaluerwhoholdsarecognised andrelevantprofessionalqualificationandhasrecent experienceinthelocationandcategoryoftheinvestment propertybeingvalued.

1p110 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.

1p110 8. Treatment of research costs and the basis for capitalisation of developmentcostsandwebsitedevelopmentcosts.

1p110, 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.

1p110 11. Leases.

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

1p110 13.Provisions.

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

IFRS2p44 15.Share-basedpayments.

1p110 16.Taxes,includingdeferredtaxes.

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18p35(a), 17.Revenuerecognition.1p110

18p35(a) 18. The method adopted to determine the stage of completion of transactionsinvolvingtherenderingofservices.

1p110, 19.Constructioncontracts,including:11p39(b),(c) (a) methodsusedtodeterminecontractrevenuerecognised; and (b)methodsusedtomeasurestageofcompletionofcontracts in progress.

20p39(a) 20.Governmentgrants:1p110 (a)accountingpolicy;and (b)methodofpresentationinfinancialstatements.

1p110, 7p46 21.Definitionofcashandcashequivalents.

1p110 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, 25.Policyforallocatingexplorationandevaluationassetsto23 cash-generatingunitsorgroupsofcash-generatingunitsforthe purpose of assessing such assets for impairment.

1p112 26.Anyothersignificantaccountingpolicythatisnotspecifically requiredbyIFRS,butisselectedandappliedinaccordance withIAS8.Anaccountingpolicymaybesignificantbecause ofthenatureoftheentity’soperationsevenifamountsfor current and prior periods are not material.

1p113 27. The accounting policies section or other notes should describe management’sjudgements,apartfromthoseinvolving estimations,madeintheprocessofapplyingtheentity’s accountingpoliciesthathavethemostsignificanteffectonthe amountsrecognisedinthefinancialstatements.

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; (c) thenatureofthechangeinaccountingpolicy; (d)adescriptionofthetransitionalprovisions,whenapplicable; (e)thetransitionalprovisionsthatmighthaveaneffecton futureperiods,whenapplicable; (f) theamountoftheadjustmentforthecurrentperiodand eachpriorperiodpresented,totheextentpracticable: (i) foreachfinancialstatementlineitemaffected;and (ii) ifIAS33appliestotheentity,theimpactonbasicand diluted earnings per share; (g)theamountoftheadjustmentrelatingtoperiodsbefore thosepresented,totheextentpracticable;and

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(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 accounting policy; (c)thedatebywhichapplicationofthestandardor interpretation is required; (d)thedateasatwhichitplanstoapplythestandardor interpretation initially; 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 diluted earnings per share; (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 in IAS 8 should be followed for the change in the accounting policy.

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A3 Income statement (and related notes)


Refer to the Appendix to IAS 1 for an example income statement.

1p81 1. Thefaceoftheincomestatementshouldinclude,asa minimum,lineitemsthatpresentthefollowingamountsforthe reportingandcomparativeperiods: (a)revenue; (b)financecosts; (c)shareoftheprofitorlossofassociatesandjointventures accounted for using the equity method; (d)asingleamountcomprisingthetotalof: (i) thepost-taxprofitorlossofdiscontinuedoperations; and (ii) thepost-taxgainorlossrecognisedonthe remeasurementtofairvaluelesscoststoselloronthe disposaloftheassetsordisposalgroup(s)constituting thediscontinuedoperations.RefertoSectionA9for disclosures relating to discontinued operations; and (e)taxexpenserelatedtoprofitorlossfromordinaryactivities; and (f) profitorloss.

1p82 2. Disclosethefollowingitemsonthefaceoftheincome statementasallocationsofprofitorlossfortheperiod: (a)profitorlossattributabletominorityinterest;and (b)profitorlossattributabletotheparent’sequityholders.

1p83 Presentadditionallineitems,headingsandsub-totalson thefaceoftheincomestatementwhensuchpresentationis relevanttoanunderstandingoftheentity’sfinancial performance.

1p78 All items of income and expense recognised in a period should be included in profit or loss unless a standard or interpretation requires otherwise.

1p32 Items of income and expense should not be offset unless required or permitted by a standard or an interpretation.

1p95 3. Disclose,eitheronthefaceoftheincomestatement,inthe statementofchangesinequityorinthenotes,theamountof dividendsrecognisedasdistributionstoequityholdersduring theperiod,andtherelatedamountpershare.

8p39, 40 4. Disclosethenatureandamountofachangeinanaccounting estimate that has an effect in the current period or that is expectedtohaveaneffectinfutureperiods.Ifitis impracticabletoestimatetheamount,disclosethisfact.

34p26 5. Ifanestimateofanamountreportedinaninterimperiod changessignificantlyduringthefinalinterimperiodofthe financialyearbutaseparatefinancialreportisnotpublished forthatfinalinterimperiod,thenatureandamountofthat change in estimate should be disclosed in a note to the annual financialstatementsforthatfinancialyear.This is only applicable when the reporting entity publishes an interim financial report prepared in accordance with IAS 34

2. Individualitems

1p29,1p86 1. Whenaclassofsimilaritemsofincomeandexpenseare1p87 material,disclosetheirnatureandamountseparately.Examples are shown in IAS 1 para 87, including write-downs of assets and reversals of such write-downs, restructuring costs and disposals of property, plant and equipment.

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18p35(b) 2. Disclosetheamountofeachsignificantcategoryofrevenue recognisedduringtheperiod,includingrevenuearisingfrom: (a)thesaleofgoods; (b) therenderingofservices; (c)interest; (d)royalties;and (e)dividends.

18p35(c) 3. Disclosetheamountofnon-cashrevenuearisingfrom exchangesofgoodsorservicesincludedineachsignificant categoryofrevenue.

SIC27p10(b) 4. Disclosetheaccountingtreatmentappliedtoanyfeereceived in an arrangement that has the legal form of a lease but that in substancedoesnotinvolvealeaseunderIAS17,theamount recognisedasincomeintheperiod,andthelineitemofthe incomestatementinwhichitisincluded(refertoSection A5.18(c)).

1p88 5. Eitheronthefaceoftheincomestatement(encouraged by IAS 1 para 89)orinthenotestotheincomestatement,analyse theitemsbelowrevenueusingaclassificationbasedoneither thenatureofexpenseortheirfunctionwithintheentity (whichever is reliable and more relevant). Refer to paras 6, 7 and 8 below, and the Appendix to IAS 1.

1p91 6. Ifanalysedbynatureofexpense,thismaycomprise: (a)otherincome; (b)changesininventoriesoffinishedgoodsandworkin progress; (c)rawmaterialsandconsumablesused; (d)employeebenefitcosts; (e)depreciationandamortisationexpense;and (f) otherexpenses.

1p92 7. Ifanalysedbyfunctionofexpense,thismaycomprise (a)costofsales; (b)grossprofit; (c)otherincome; (d)distributioncosts; (e)administrativeexpenses;and (f) otherexpenses.

1p93 8. Entitiesclassifyingexpensesbyfunctionshoulddisclose additionalinformationonthenatureofexpenses.

9. Suchinformationshouldinclude: (a)depreciationandamortisationexpense;and (b)employeebenefitscosts.

10.Employeebenefits–disclose:19p46 (a)theexpensefordefinedcontributionplans;19p120A(g) (b)fordefinedbenefitplans–thetotalexpenseforeachof thefollowing,andthelineitem(s)oftheincomestatementin whichtheyareincluded: (i) currentservicecost; (ii) interestcost; (iii)expectedreturnonplanassets; (iv)expectedreturnonanyreimbursementrightrecognised as an asset; (v) actuarialgainsandlosses; (vi)pastservicecost;and (vii)theeffectofanycurtailmentorsettlement; 19p120A(m) (c)fordefinedbenefitplans; (i) theactualreturnonplanassets;and (ii) theactualreturnonanyreimbursementrightrecognised as an asset; 19p131 (d)theexpenseresultingfromotherlong-termemployee benefits,ifsignificant;and19p142 (e)theexpenseresultingfromterminationbenefits,if significant.

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38p126 11.Discloseresearchanddevelopmentexpenditurerecognisedas anexpenseduringtheperiod.

21p52(a) 12.Disclosetheamountofforeignexchangedifferences recognisedinprofitorlossexceptforthosearisingonfinancial instrumentsmeasuredatfairvaluethroughprofitorlossin accordancewithIAS39.

36p126(a)(b) 13.Discloseforeachclassofassetsthefollowingamounts recognisedduringtheperiod,andthelineitem(s)oftheincome statementinwhichtheyareincluded: (a)impairmentlosses;and (b)reversalsofimpairmentlosses.

38p118(d) 14.DisclosethefollowingamountsrecognisedduringtheIFRS3p67(g) periodandthelineitem(s)oftheincomestatementinwhich they are included: (a)amortisationofintangibleassets(byeachclass);and (b)excessofacquirer’sinterestinthenetfairvalueof acquiree’sassets,liabilitiesandcontingentliabilities overcostrecognisedasincome.

40p75(f) 15.Investmentproperty–disclose: (a)rentalincome; (b)directoperatingexpensesincludingrepairsand maintenancearisingfrominvestmentpropertythat generated rental income during the period; (c)directoperatingexpensesincludingrepairsand maintenancearisingfrominvestmentpropertythatdidnot generate rental income during the period; and 40p32C (d)thecumulativechangeinfairvaluerecognisedinprofitor lossonasaleofinvestmentpropertyfromapoolofassets inwhichthecostmodelisusedintoapoolinwhichthefair valuemodelisused;

IFRS7p20 16.Disclosethefollowingmaterialitemsresultingfromfinancial assetsandfinancialliabilities: (a)income; (b)expense; (c)gains;and (d)losses.

IFRS7p20 17.Thedisclosuresinpara16aboveshouldincludethefollowing: (a)netgainsorlosseson: (i) financialassetsorfinancialliabilitiesatfairvaluethrough profitorloss,showingseparatelythoseonfinancial assetsorfinancialliabilitiesdesignatedassuchupon initialrecognition,andthoseonfinancialassetsor liabilitiesthatareclassifiedasheldfortradingin accordancewithIAS39; (ii) available-for-salefinancialassets,showingseparately the amount of gain or loss recognised directly in equity 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; (d)interestincomeonimpairedfinancialassets;and (e)theamountofanyimpairmentlossforeachclassof financialasset.

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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,disclosingalsothebasis onwhichtheapplicabletaxrateiscomputed(refertoIAS12 para85).

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

4. Extraordinaryitems

1p85 1. Itemsofincomeandexpenseshouldnotbepresentedas extraordinaryitemsanywhere,neitheronthefaceoftheincome statement nor in the notes.

A4 Statement of changes in shareholders’ equity (and related notes)

1p8(c) 1. Presentasaprimaryfinancialstatement: (a) astatementofallchangesinequity;or (b) astatementofrecognisedincomeandexpense Refer to the examples of these statements in the Appendix to IAS 1.

19p93B 2. Thestatementofrecognisedincomeandexpense(andnota statementofallchangesinequity)shouldbepresentedasa primaryfinancialstatement(refertoSection2)iftheoption permittedbyIAS19(amended2004)para93A,torecognise actuarialgainsandlossesoutsideofprofitorlosshasbeen adopted.

1. Statement of changes in equity

1. Disclosethefollowinginthestatementofchangesinequity:

1p96(a) (a)profitorlossfortheperiod; 1p96(b) (b)eachitemofincomeandexpensefortheperiod thatisrecogniseddirectlyinequity,asrequiredbyother standardsandinterpretations,andthetotaloftheseitems (for example, revaluation of certain non-current assets, fair value adjustments on certain hedging instruments, currency translation differences, revaluations of available- for-sale investments); 1p96(c) (c)totalincomeandexpensefortheperiod(calculatedasthe sumof(a)and(b)above),showingseparatelythetotal amountsattributabletotheparent’sequityholdersandto minority interest; 1p96(d) (d)foreachcomponentofequity,theeffectsofchangesin accounting policies and corrections of errors recognised in accordancewithIAS8; 1p97(a) (e)transactionswithequityholders: (i) issueofsharecapital; 32p34 (ii) purchaseofownshares;and 32p22 (iii)contractsthatwillbesettledbytheentity(receivingor) deliveringafixednumberofitsownequityinstruments inexchangeforafixedamountofcashoranother financialasset;

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32p35 (f) transactioncosts,relatingtoissueofsharecapital,32p22 deductedfromshareholders’equity; 1p97(a) (g)distributionstoowners(for example, dividends); and 1p97(c) (h)areconciliationbetweenthecarryingamountatthe beginningandendoftheperiodforthefollowingitems (separatelydisclosingeachmovement): (i) eachclassofsharecapital; (ii) sharepremium; 32p34 (iii)ownshares(treasuryshares); (iv)eachreserveinshareholders’equity,includingthe following: 16p77(f) –revaluationreserveforproperty,plantandequipment; 38p124(b) –revaluationreserveforintangibleassets; IFRS7p20 –revaluationreserveforavailable-for-salefinancial assets; IFRS7p23 – hedgingreserveforcashflowhedges; 21p52(b) – foreignexchangetranslationreserve; 12p81(a) – currentordeferredtaxonitemstakendirectlytoor transferred from equity; IFRS2p50 – equity-settledshare-basedpaymenttransactions; 1p97(b) (v) retainedearnings;and 32p28 (vi)theequityconversionelementofconvertibledebt. 32p39 2. Disclose separately in the statement of changes in equity: (a) theamountoftransactioncostsaccountedforasa deduction from equity; (b) therelatedamountofincometaxesassociatedwith transaction costs accounted for as a deduction from equity thathavebeenincludedintheaggregateamountofcurrent anddeferredtaxcredited,orchargestoequitythatare disclosed under IAS 12; and 28p39 (c) theinvestor’sshareofchangesrecogniseddirectlyinthe associate’sequity

IFRIC1p6(d) 3. Thechangeintherevaluationsurplusarisingfromachange intheexistingdecommissioning,restorationandsimilar liabilitiesshouldbeseparatelyidentifiedanddisclosed.

2. Statementofrecognisedincomeandexpense

1. Statementofrecognisedincomeandexpensecomprises:1p96(a) (a)profitorlossfortheperiod;1p96(b) (b)eachitemofincomeandexpensefortheperiodthat,as requiredbythestandardsandinterpretations,isrecognised directlyinequity,andthetotaloftheseitems(for example, revaluation of certain non-current assets, fair value adjustments on certain hedging instruments, and currency translation differences); 1p96(c) (c)totalincomeandexpensefortheperiod(calculatedasthe sumof(a)and(b)),showingseparatelythetotalamounts attributabletotheparent’sequityholdersandtominority interest; and 1p96(d) (d)foreachcomponentofequity,theeffectsofchangesin accounting policies and corrections of errors recognised in accordancewithIAS8.

1p97(a) 2. Ifastatementofrecognisedincomeandexpenseis prepared,disclosethefollowingitemsinthenotes: (a) capitaltransactionswithowners: (i) issueofsharecapitaltoequityholders;and32p34 (ii) purchaseofownsharesfromequityholders;32p22 (iii)contractsthatwillbesettledbytheentity(receivingor) deliveringafixednumberofitsownequityinstruments inexchangeforafixedamountofcashoranother financialasset;32p35 (b)transactioncosts(relatingtoissueofsharecapital) deducted from equity; 1p97(a) (c)distributionstoowners(forexample,dividends);

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1p97(c) (d)areconciliationbetweenthecarryingamountatthe beginningandendoftheperiodforthefollowingitems (separatelydisclosingeachmovement):32p34 (i) eachclassofequitycapital; (ii) sharepremium; (iii)ownshares(treasuryshares); (iv)eachreserveinshareholders’equity,includingthe following:16p77(f) –revaluationreserveforproperty,plantandequipment;38p124(b) –revaluationreserveforintangibleassets;IFRS7p20 –revaluationreserveforavailable-for-salefinancial assets; IFRS7p23 –hedgingreserveforcashflowhedges;21p52(b) –foreignexchangetranslationreserve;12p81(a) –currentordeferredtaxonitemstakendirectlytoor transferred from equity; and IFRS2p50 –equity-settledshare-basedpaymenttransactions;1p97(b) (v) retainedearnings;and32p28 (e) theequityconversionelementofaconvertibledebt.

3. General disclosures

These disclosures apply irrespective of whether the entity presented a statement of changes in equity or a statement of recognised income or expense.

1p76(b) 1. Adescriptionofthenatureandpurposeofeachreserve 16p77(f) withinshareholders’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. Theaggregatecurrentanddeferredtaxrelatingtoitems charged or credited to equity. It is useful to disclose the analysis by category of temporary differences.

36p126(c), 3. Theamountofimpairmentlossesandtheamountofreversals(d) ofimpairmentlosses,recogniseddirectlyinequityduringthe period,foreachclassofassets.

1p76(a) 4. Disclosethefollowingforeachclassofsharecapitaleither on the face of the balance sheet or in the notes (this information is usually disclosed in the notes): (a)thenumberofsharesauthorised; (b)thenumberofsharesissuedandfullypaid,andissuedbut not fully paid; (c)parvaluepershare,orthattheshareshavenoparvalue; (d)areconciliationofthenumberofsharesoutstandingatthe beginning and end of the year; (e)therights,preferencesandrestrictionsattachedtoeach classofsharecapital,includingrestrictionsonthe distributionofdividendsandtherepaymentofcapital; (f) sharesintheentityheldbytheentityitselforbytheentity’s subsidiaries or associates; and (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.

1p77 7. Anentitywithoutsharecapital,suchasapartnership,should discloseinformationequivalenttothatrequiredinpara4above, showingmovementsduringtheperiodineachcategoryof equityinterestandtherights,preferencesandrestrictions attached to each category of equity interest.

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10p12 8. Disclosetheamountofdividendsproposedordeclaredbefore1p125(a) thefinancialstatementswereauthorisedforissuebutnot recognisedasadistributiontoequityholdersduringtheperiod, and the related amount per share.

1p125(b) 9. Disclosetheamountofanycumulativepreferencedividends not recognised.

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

A5 Balance sheet (and related notes) 1. Generaldisclosures

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

1p68 1. Include,asaminimum,thefollowinglineitemsonthefaceof the balance sheet: (a) property,plantandequipment; (b)investmentproperty; (c)intangibleassets; (d)financialassets–forexample,investments(excluding amountsshownunder(e),(h)and(i)); (e)investmentsaccountedforusingtheequitymethod; (f) biologicalassets; (g)inventories; (h)tradeandotherreceivables; (i) cashandcashequivalents; (j) tradeandotherpayables; (k)provisions; (l) financialliabilities(excludingamountsshownunder(j) and(k)); (m)liabilitiesandassetsforcurrenttax,asdefinedinIAS12; (n)deferredtaxliabilitiesanddeferredtaxassets,asdefinedin IAS 12; (o)minorityinterest(presentedwithinequity);and (p)issuedcapitalandreservesattributabletoequityholdersof theparent(forexample,ordinaryshares,sharepremium, treasuryshares,fairvaluereserves,translationdifferences andretainedearnings).

1p69 Presentadditionallineitems,headingsandsubtotalson thefaceofthebalancesheetwhensuchpresentationis relevanttoanunderstandingoftheentity’sfinancialposition.

Refer to Section A9 for disclosures relating to discontinued operations.

1p71 IAS 1 does not prescribe the order or format for presenting balance sheet items.

1p32 Assets and liabilities should not be offset unless required or permitted by a standard or interpretation.

1p74 2. Disclosefurthersub-classificationsofthelineitemspresented, classifiedinamannerappropriatetotheentity’soperations, either on the face of the balance sheet or in the notes to the balancesheet.RefertoIAS1para75,forexamples.

1p51 3. Isthecurrent/non-currentdistinctionofassetsandliabilities made on the face of the balance sheet? (a) Yes–applyclassificationrequirementsinIAS1paras57-67; (b)No–ensurethatapresentationbasedonliquidityprovides informationthatisreliableandmorerelevant.Ensurealso that assets and liabilities are presented broadly in order of their liquidity.

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1p52 4. Whichevermethodofpresentationinpara3aboveisapplied, disclosethenon-currentportion(theamountexpectedtobe recoveredorsettledaftermorethan12months)foreachasset andliabilityitemthatcombinescurrentandnon-current amounts.

2. Measurement uncertainty

1p116 1. The notes should include information about the key assumptionsconcerningthefuture,andotherkeysourcesof estimationuncertaintyatthebalancesheetdate,thathavea significantriskofcausingamaterialadjustmenttothecarrying amountsofassetsandliabilitieswithinthenextfinancialyear. Include in the notes details of: (a)thenatureoftheseassetsandliabilities;and (b)theircarryingamountasatthebalancesheetdate.

37p85 2. 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 expectedreimbursement.

34p26 3. Ifanestimateofanamountreportedinaninterimperiod–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.

4. 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,para1and4);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);and

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IFRS4p37 (iv) insurance–informationaboutnature,timingand uncertaintyoffuturecashflowsfrominsurance contracts(SectionE,para2);and (c) otherrelevantdisclosures:36p130,131, (i) impairmentofassets–keyassumptionsforcashflow133,134 projections,periodscoveredbyprojections,growth ratesforextrapolationsanddiscountratesin 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,p57 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 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 currency of the reporting entity; and (i) othermovements.

It is also common practice to disclose transfers between classes of PPE (for example, from PPE under construction to land and buildings). Comparative information for these items is 1p36 required.

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.

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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:23p29(b) (a)theamountofborrowingcostscapitalisedduringthe period; and 23p29(c) (b)thecapitalisationrateusedtodeterminetheamountof borrowingcostseligibleforcapitalisation.

17p31(a) 9. Providethenetcarryingamountforeachclassofassetsheld underfinanceleases.

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

IFRS6p25 11.Explorationandevaluationassets.Treattheseassetsasa separate class of assets and make the disclosure required by 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 from acquisitions and those resulting from subsequent expenditurerecognisedinthecarryingamountoftheasset; (b)additionsresultingfromacquisitionsthroughbusiness combinations; (c)assetsclassifiedasheldforsaleorincludedinadisposal groupclassifiedasheldforsaleinaccordancewithIFRS5 and other disposals; (d)thenetgainsorlossesfromfairvalueadjustments(where thefairvaluemodelinIAS40isused); (e)netexchangedifferencesarisingonthetranslationofthe financialstatementsintoadifferentpresentationcurrency and on translation of a foreign operation into the presentation currency of the reporting entity; (f) transferstoandfrominventories;andowner-occupied property; and (g)otherchanges.

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

40p78 3. Ifthefairvaluemodelisused,butcertaininvestmentproperties arecarriedundertheIAS16costmodelbecauseofthelackof areliablefairvalue,provide: (a)adescriptionoftheinvestmentproperty; (b)anexplanationofwhyfairvaluecannotbereliably measured; (c)therangeofestimateswithinwhichfairvalueishighlylikely to lie; and (d)iftheentitydisposesofinvestmentpropertywhosefair valuepreviouslycouldnotbemeasuredreliably,disclose: (i) thattheentityhasdisposedofinvestmentpropertynot carriedatfairvalue; (ii) thecarryingamountofthatinvestmentpropertyatthe time of sale; and (iii)thecarryingamountofthatinvestmentpropertyatthe time of sale; and (iv) thegainorlossondisposal.

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

5. Ifanentityusesthecostmodeldiscloseinadditiontopara1 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 the presentation currency of the reporting entity; and 40p79(e) (e)thefairvalueofinvestmentproperty.Whenanentitycannot reliablydeterminethefairvalueoftheinvestmentproperty, disclose: (i) adescriptionoftheinvestmentproperty; (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.

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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 of the period; (b)additions(indicatingseparatelythosefrominternal development,thoseacquiredseparately,andthose acquiredthroughbusinesscombinations); (c)assetsclassifiedasheldforsaleorincludedinadisposal groupclassifiedasheldforsale(inaccordancewithIFRS5) and other disposals; (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 (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 is restricted; and (b)theamountsofintangibleassetspledgedassecurityfor liabilities.

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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 separate class of assets and make the disclosures required by IAS38iftheyareclassifiedasintangibleasset

6. Goodwilland‘negativegoodwill’1

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

1p36 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: (a)theeventsandcircumstancesthatledtotherecognitionor reversaloftheimpairmentloss; (b)theamountoftheimpairmentlossrecognisedorreversed; (c)foranindividualasset: (i) thenatureoftheasset;and (ii) thesegmenttowhichtheassetbelongs(basedon primaryformat)(refertoSectionD1); (d)foraCGU:

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

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(i) adescriptionoftheCGU(suchaswhetheritisa productline,aplant,abusinessoperation,a geographicalarea,orareportablesegmentasdefinedin IAS14)(refertoSectionD1); (ii) theamountoftheimpairmentlossrecognisedor reversed: – by class of assets; 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); (ii) adescriptionofmanagement’sapproachtodetermining thevaluesassignedtoeachkeyassumption,whether thosevaluesreflectpastexperienceand/orare consistentwithexternalsourcesofinformation,if appropriate.Ifnot,disclosehowandwhytheydiffer frompastexperienceand/orexternalsourcesof information; (iii)theperiodoverwhichmanagementhasprojectedcash flowsbasedonfinancialbudgets/forecastsapprovedby

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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 carrying amounts; (ii) thevalueassignedtothekeyassumptions;and (iii)theamountbywhichthevalueassignedtothekey assumptionmustchange,afterincorporatingany consequential effects of that change on the other 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); (b)theaggregatecarryingamountofintangibleassetswith indefiniteusefullivesallocatedtothoseCGUs(orgroupof CGUs); (c)adescriptionsofthekeyassumption(s); (d)adescriptionofmanagement’sapproachtodetermining thevaluesassignedtoeachkeyassumption,whether thosevaluesreflectpastexperienceand/or,ifappropriate, whethertheyareconsistentwithexternalsourcesof information.Ifnot,disclosehowandwhytheydifferfrom pastexperienceand/orexternalsourcesofinformation;and

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(e)ifareasonablypossiblechangeinthekeyassumptions wouldcausetheCGU’s(orgroupofCGUs’)carryingamount toexceeditsrecoverableamount: (i) theamountbywhichtheaggregateoftherecoverable amountsoftheCGUsexceedstheaggregateoftheir carrying amounts; (ii) thevalueassignedtothekeyassumptions;and (iii)theamountbywhichthevalueassignedtothekey assumptionmustchange,afterincorporatinganyeffects ofthatchangeintheothervariablesusedtomeasure therecoverableamount,inorderfortheCGU’s(orgroup ofCGUs’)recoverableamounttobeequaltotheir carrying amount.

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

8. Associates

28p38 1. Associates accounted for using the equity method. 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; (e)thereportingdateofanassociate’sfinancialstatements, whenitisdifferentfromthatoftheinvestor,andthereason for using a different reporting date; (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, as required by IAS 1.

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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.

31p54 2. Disclose separately from other contingent liabilities: (a)anycontingentliabilitiesthattheventurerhasincurredin relationtoitsinterestsinjointventuresanditsshareineach ofthecontingentliabilitiesthathavebeenincurredjointly withotherventurers; (b)itsshareofthecontingentliabilitiesofthejointventures themselvesforwhichitiscontingentlyliable;and (c)thecontingentliabilitiesthatarisebecausetheventureris contingentlyliablefortheliabilitiesoftheotherventurersof ajointventure.

31p55 3. Discloseseparatelyfromothercommitmentstheaggregateof: (a) anycapitalcommitmentsoftheventurerinrelationtoits interestsinjointventuresanditsshareinthecapital commitmentsthathavebeenincurredjointlywithother venturers;and (b)itsshareofthecapitalcommitmentsofthejointventures themselves.

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 for using a different reporting date or period; 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;

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(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, impairmentlossesandexchangedifferencesarisingon translationofthefinancialstatementsofaforeignentitywhen investmentsaresignificant.

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

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

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 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.

1p52 6. Whereinventoriescombinecurrentandnon-currentamounts, disclosetheamountofthenon-currentportionthatisexpected toberecoveredorsettledaftermorethan12months(referto IAS1para59).

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13.Tradeandotherreceivables

1p74 1. Disclosereceivablesinamannerappropriatetotheentity’s operation,withthefollowingspecificdisclosures:1p75(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.

1p52 3. Wheretradeandotherreceivablescombinecurrentand non-currentamounts,disclosetheamountofthenon-current portionthatisexpectedtoberecoveredorsettledaftermore than 12 months.

14.Incometaxes

1p68(n) 1. Presentdeferredtaxassetsanddeferredtaxliabilities separately on the face of the balance sheet.

1p68(m) 2. Presentcurrentincometaxassetsandliabilitiesseparatelyon the face of the balance sheet.

1p70 3. Classifydeferredtaxassets(liabilities)asnon-currentassets (liabilities)ifadistinctionbetweencurrentandnon-current assets and liabilities is made on the face of the balance sheet.

1p52 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.

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 recognised in the balance sheet for each period presented; 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. Disclosetheamountofadeferredtaxassetandthenatureof theevidencesupportingitsrecognition,when: (a)theutilisationofthedeferredtaxassetisdependenton futuretaxableprofitsinexcessoftheprofitsarisingfromthe reversalofexistingtaxabletemporarydifferences;and

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(b)theentityhassufferedalossineitherthecurrentor precedingperiodinthetaxjurisdictiontowhichthedeferred taxassetrelates.

12p81(a) 8. Disclosetheaggregatecurrentanddeferredtaxrelatingto items charged or credited to equity. 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.Tradeandotherpayables

1p74 1. Disclosepayablesinamannerappropriatetotheentity’s operations,withthefollowingspecificdisclosures: (a)tradepayables; (b)payablestosubsidiaries(instandaloneaccounts); (c)payablestorelatedparties(refertoSectionA5.21); (d)otherpayables; (e)accruals;and (f) deferredincome.

1p52 2. Whereanyoftheaboveitemscombinecurrentandnon-current amounts,disclosetheamountofthenon-currentportionthat isexpectedtoberecoveredorsettledaftermorethan12 months(referalsotoIAS1para61).

16.Provisions

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 change in the discount rate; and (h)thecarryingamountattheendoftheperiod.

Comparative information for these items is not required.

1p52 2. Whereanyprovisioncombinescurrentandnon-current amounts,disclosetheamountofthenon-currentportionthat isexpectedtoberecoveredorsettledaftermorethan12 months(referalsotoIAS1para61).

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 expectedreimbursement.

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37p92 4. Inextremelyrarecases,disclosureofsomeorallofthe informationrequiredbyIAS37paras84-85(items1and3 above)canbeexpectedtoprejudicethepositionoftheentity inadisputewithotherpartiesinrespectofthematterforwhich theprovisionismade.Insuchasituation,theinformationdoes notneedtobedisclosed,butthefollowingshouldbedisclosed: (a) thegeneralnatureofthedispute; (b)thefactthattheinformationhasnotbeendisclosed;and (c)thereasonwhythatinformationhasnotbeendisclosed.

34p26 5. Ifanestimateofanamountreportedinaninterimperiod–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

1p52 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.

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.

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19p120A(f) 5. Provideareconciliationofthepresentvalueofthedefined benefitobligationinpara2aboveandthefairvalueoftheplan assetsinpara4abovetotheassetsandliabilitiesrecognisedin thebalancesheet,showingatleast: (a)thenetactuarialgainsorlossesnotrecognisedinthe balance sheet; (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 (b)theeffectofthelimitinIAS19para58(b).

19p120A(i), 8. Thecumulativeamountofactuarialgainsandlossesrecognised 1p96(b) inthestatementofrecognisedincomeandexpense.

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

19p120A(k) 6 10.Providetheamountsincludedinthefairvalueofplanassetsfor: (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(andofchangesinan indexorothervariablespecifiedintheformalorconstructive termsofaplanasthebasisforfuturebenefitincreases); (e)medicalcosttrendrates;and (f) anyothermaterialactuarialassumptionsused(suchas detailsofmortalityassumptions).

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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 −apercentageoftheplanliabilitiesatthebalancesheet date; and (ii) theplanassetsexpressedeitheras: −anamount;or −apercentageoftheplanassetsatthebalancesheet 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

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(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 balance sheet date; (b)areconciliationbetweenthetotalminimumleasepayments atthebalancesheetdate,andtheirpresentvalue; (c)thetotalofminimumleasepaymentsatthebalancesheet date,andtheirpresentvalue,foreachofthefollowing periods: (i) nolaterthanoneyear; (ii) laterthanoneyearbutnolaterthanfiveyears;and (iii)laterthanfiveyears; (d)theamountofcontingentrentsrecognisedintheincome statement for the period; (e) thetotaloffutureminimumsubleasepaymentsexpectedto bereceivedundernon-cancellablesubleasesatthebalance sheet date; and (f) ageneraldescriptionofthelessee’ssignificantleasing arrangements.Thiswouldinclude,butisnotlimitedto: (i) thebasisonwhichcontingentrentpaymentsare determined; (ii) theexistenceandtermsofrenewalorpurchaseoptions and escalation clauses; 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 sheet date; (c)leaseandsubleasepaymentsrecognisedintheincome statementfortheperiod,withseparateamountsfor minimumleasepayments,contingentrentsandsublease payments; and (d)ageneraldescriptionofthelessee’ssignificantleasing arrangements.Thiswouldinclude,butisnotlimitedto: (i) thebasisonwhichcontingentrentpaymentsare determined;

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(ii) theexistenceandtermsofrenewalorpurchaseoptions and escalation clauses; and (iii) restrictionsimposedbyleasearrangements,suchas thoseconcerningdividends,additionaldebtandfurther leasing.

17p65 2. The disclosure requirements about leases set out in Section 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 (iii)thetransactionsthatarelinkedtogether,including any options; and (b)theaccountingtreatmentappliedtoanyfeereceived,the amountrecognisedinincomeintheperiod,andtheline itemoftheincomestatementinwhichitisincluded.

19.Borrowingsandotherliabilities

Borrowingsarefinancialinstruments;therefore,allthe IFRS7disclosurerequirementsalsoapplytoborrowings.Refer to Section A8.

1p51, 52 1. Disclosetheborrowingsclassifiedbetweencurrentandnon- currentportions,inaccordancewithIAS1paras60-65.

1p67 2. Inrespectofloansclassifiedascurrentliabilities,ifthefollowing eventsoccurbetweenthebalancesheetdateandthedatethe financialstatementsareauthorisedforissue,thoseevents qualifyfordisclosureasnon-adjustingeventsinaccordance withIAS10: (a)refinancingonalong-termbasis; (b)rectificationofabreachofalong-termloanagreement;and (c)thereceiptfromthelenderofaperiodofgracetorectifya breachofalong-termloanagreementendingatleasttwelve months after the balance sheet date.

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

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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 entity’sparentnortheultimatecontrollingpartyproduces financialstatementsavailableforpublicuse,disclosethename ofthenextmostseniorparentthatdoesso.

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 outstanding balances; and (f) theexpenserecognisedduringtheperiodinrespectofbad or doubtful debts due from related parties.

24p18 5. Makethedisclosuresrequiredbyparagraph4aboveseparately foreachofthefollowingcategories: (a)theparent; (b)entitieswithjointcontrolorsignificantinfluenceoverthe entity; (c)subsidiaries;

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

22. Commitments

1. The amount of contractual commitments for the acquisition of: 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.

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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)thereasonwhytherequiredinformationhasnotbeen disclosed.

5. Disclosecontingentliabilitiesarisingfrom: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.

24.Eventsafterthebalancesheetdate

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.

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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.

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

A6 Cash flow statement

1. Generalpresentation

7, AppA For example cash flow statements (direct and indirect method), refer to IAS 7 Appendix A.

1. Classifycashflowsintothreeactivities:operating,investingand financingactivities.

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

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

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7p22 4. Thefollowingcashflowsarisingfromtheoperating,investing orfinancingactivitiesmaybereportedonanetbasis(IAS7 para23): (a)cashreceiptsandpaymentsonbehalfofcustomerswhen thecashflowsreflecttheactivitiesofthecustomerrather than those of the entity; 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.

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.

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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 these facilities; (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 dispose of as a result of the combination; (d)thepercentageofvotingequityinstrumentsacquired; (e)thecostofthecombinationandadescriptionofthe componentsofthatcost,includinganycostsdirectly attributable to the combination. When equity instruments areissuedorissuableaspartofthecost,thefollowing should also be disclosed: (i) thenumberofequityinstrumentsissuedorissuable; and (ii) thefairvalueofthoseinstrumentsandthebasis fordeterminingthatfairvalue.Ifapublishedprice doesnotexistfortheinstrumentsatthedateof exchange,thesignificantassumptionsusedto determinefairvalueshouldbedisclosed.Ifapublished priceexistsatthedateofexchangebuthasnotbeen used as the basis for determining the cost of the combination,thatfactshouldbedisclosedtogether with: – thereasonswhythepublishedpricehasnotbeen used; – themethodandsignificantassumptionsusedto attributeavaluetotheequityinstruments;and – theaggregateamountofthedifferencebetweenthe valueattributedto,andthepublishedpriceof, the equity instruments; (f) theamountsrecognisedattheacquisitiondateforeach classoftheacquiree’sassets,liabilitiesandcontingent liabilities,andthecarryingamountsofeachofthose classes,determinedinaccordancewithIFRS,immediately before the combination;

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(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 andbeforethedateonwhichthefinancialstatementsare issued;ifitisimpracticabletodiscloseanyofthisinformation, disclosethisfacttogetherwithanexplanationofwhythisisthe case.

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 or business unit acquired; 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 the acquisition date for all business combinations that took effect during the reporting period had been at the beginning of that period; and (b)theprofitorlossofthecombinedentityfortheperiodasif the acquisition date for all business combinations that took effect during the reporting period had been at the beginning of that period. Ifdisclosureofthisinformationwouldbeimpracticable,disclose thatfact,togetherwithanexplanationofwhythisisthecase.

IFRS3p73 6. Theacquirershouldalsodisclosethefollowinginformation relating to business combinations that took effect in the current orpreviousperiods: (a)theamountandanexplanationofanymaterialgainorloss recognised in the current reporting period; (b)theamountsandexplanationsoftheadjustmentstothe provisionalvaluesrecognisedduringthecurrentreporting period; and (c)theinformationabouterrorcorrectionsthattheacquirer recognisesduringthecurrentreportingperiod,asrequired by IAS 8.

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2. Disposals

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

A8 Financial instruments


IFRS7p6 When IFRS 7 requires disclosures by class of financial AppxB1-B3 instrument, 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.

3. Financialassetsorfinancialliabilitiesatfairvaluethrough profitorloss

IFRS7p9 1. Ifaloanorreceivable(orgroupofloansorreceivables)is designatedasatfairvaluethroughprofitorloss,disclose: (a) themaximumexposuretocreditrisk(seeIFRS7p36(a))of theloanorreceivable(orgroupofloansorreceivables)at the reporting date; (b) theamountbywhichanyrelatedcreditderivativesorsimilar instrumentsmitigatethatmaximumexposuretocreditrisk; (c) theamountofchange,duringtheperiodandcumulatively, inthefairvalueoftheloanorreceivable(orgroupofloans orreceivables)thatisattributabletochangesinthecredit riskofthefinancialassetdeterminedeither: (i) astheamountofchangeinitsfairvaluethatisnot attributabletochangesinmarketconditionsthatgive rise to market risk; or (ii) usinganalternativemethodthattheentitybelieves more faithfully represents the amount of change in its

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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 required to pay at maturity to the holder of the obligation

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

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.

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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.

IFRS7p44E ‘Reclassificationoffinancialassets’(AmendmentstoIAS39 andIFRS7),issuedinOctober2008,amendedparagraph12 and added paragraph 12A. The amendments are applicable from1July2008.The IASB may consider further amendments. The above disclosure requirements are correct as at 17 October 2008.

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.

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;

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(b) thefairvalueofanysuchcollateralsoldorrepledged,and whethertheentityhasanobligationtoreturnit;and (c)thetermsandconditionsassociatedwithitsuseofthe collateral.

7. Allowanceaccountforcreditlosses

IFRS7p16 Whenfinancialassetsareimpairedbycreditlossesandthe entityrecordstheimpairmentinaseparateaccount(for 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. Defaultsandbreaches

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

IFRS7p19 2. Ifduringtheperiodtherewerebreachesofloanagreement termsotherthanthosedescribedinIFRS7para18,disclose the same information as required by IFRS 7 para18 if those breaches permitted the lender to demand accelerated repayment(unlessthebreacheswereremedied,orthetermsof theloanwererenegotiated,onorbeforethereportingdate).

10. Income statement and equity

IFRS7p20 Disclosethefollowingitemsofincome,expense,gainsor losseseitheronthefaceofthefinancialstatementsorinthe notes: (a) netgainsornetlosseson: (i) financialassetsorfinancialliabilitiesatfairvaluethrough profitorloss,showingseparatelythoseonfinancial assetsorfinancialliabilitiesdesignatedassuchupon initialrecognition,andthoseonfinancialassetsor financialliabilitiesthatareclassifiedasheldfortrading inaccordancewithIAS39; (ii) available-for-salefinancialassets,showingseparately the amount of gain or loss recognised directly in equity duringtheperiodandtheamountremovedfromequity andrecognisedinprofitorlossfortheperiod; (iii) held-to-maturityinvestments; (iv) loansandreceivables;and (v) financialliabilitiesmeasuredatamortisedcost; (b) totalinterestincomeandtotalinterestexpense(calculated usingtheeffectiveinterestmethod)forfinancialassetsor financialliabilitiesthatarenotatfairvaluethroughprofitor loss;

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(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 Discloseinthesummaryofsignificantaccountingpoliciesthe 1p108 measurementbasis(orbases)usedinpreparingthefinancial statements and the other accounting policies used that are relevanttoanunderstandingofthefinancialstatements.

IFRS7 Disclosure required by IFRS 7 para 21 may include: AppxB5 (a) forfinancialassetsorfinancialliabilitiesdesignatedasatfair valuethroughprofitorloss: (i) thenatureofthefinancialassetsorfinancialliabilities theentityhasdesignatedasatfairvaluethroughprofit or loss; (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 for sale; (c) whetherregularwaypurchasesandsalesoffinancialassets areaccountedforattradedateoratsettlementdate(see IAS39para38); (d) whenanallowanceaccountisusedtoreducethecarrying amountoffinancialassetsimpairedbycreditlosses: (i) thecriteriafordeterminingwhenthecarryingamountof impairedfinancialassetsisreduceddirectly(or,inthe caseofareversalofawrite-down,increaseddirectly) andwhentheallowanceaccountisused;and (ii) thecriteriaforwritingoffamountschargedtothe allowanceaccountagainstthecarryingamountof impairedfinancialassets; (e) hownetgainsornetlossesoneachcategoryoffinancial instrumentaredetermined(seeIFRS7para20(a)),for example,whetherthenetgainsornetlossesonitemsatfair valuethroughprofitorlossincludeinterestordividend income; (f) thecriteriatheentityusestodeterminethatthereis objectiveevidencethatanimpairmentlosshasoccurred (seeIFRS7para20(e));and (g) whenthetermsoffinancialassetsthatwouldotherwisebe pastdueorimpairedhavebeenrenegotiated,the

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accountingpolicyforfinancialassetsthatarethesubjectof renegotiatedterms(seeIFRS7para36(d)).

Disclose,inthesummaryofsignificantaccountingpoliciesor othernotes,thejudgements,apartfromthoseinvolving estimations,thatmanagementhasmadeintheprocessof applyingtheentity’saccountingpoliciesandthathavethe mostsignificanteffectontheamountsrecognisedinthe financialstatements(seeIAS1para113).

(b) Hedgeaccounting

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

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

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

(c) Fairvalue

IFRS7p25 ExceptassetoutinIFRS7para29,foreachclassoffinancial assetsandfinancialliabilities(seeIFRS7para6),disclosethe fairvalueofthatclassofassetsandliabilitiesinawaythat permitsittobecomparedwithitscarryingamount.

IFRS7p26 Indisclosingfairvalues,groupfinancialassetsandfinancial liabilitiesintoclasses,butoffsetthemonlytotheextentthat their carrying amounts are offset in the balance sheet.

IFRS7p27 Disclose: (a) themethodsand,whenavaluationtechniqueisused,the assumptionsappliedindeterminingfairvaluesofeachclass offinancialassetorfinancialliability.Forexample,if applicable,discloseinformationabouttheassumptions relatingtoprepaymentrates,ratesofestimatedcredit losses,andinterestratesordiscountrates; (b) whetherfairvaluesaredetermined,inwholeorinpart, directly by reference to published price quotations in an activemarketorareestimatedusingavaluationtechnique (seeIAS39AG71-79);

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(c) whetherthefairvaluesrecognisedordisclosedinthe financialstatementsaredeterminedinwholeorinpartusing avaluationtechniquebasedonassumptionsthatarenot supportedbypricesfromobservablecurrentmarket transactionsinthesameinstrument(ie,withoutmodification orrepackaging)andnotbasedonavailableobservable marketdata.Forfairvaluesthatarerecognisedinthe financialstatements,ifchangingoneormoreofthose assumptionstoreasonablypossiblealternativeassumptions wouldchangethefairvaluesignificantly,statethisfactand disclosetheeffectofthosechanges.Forthispurpose, judgethesignificancewithrespecttoprofitorloss,andtotal assetsortotalliabilities,or,whenchangesinfairvalueare recognisedinequity,totalequity;and (d) if(c)applies,thetotalamountofthechangeinfairvalue estimatedusingsuchavaluationtechniquethatwas recognisedinprofitorlossduringtheperiod.

IFRS7p28 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 Disclosuresoffairvaluearenotrequired: (a) whenthecarryingamountisareasonableapproximationof fairvalue(forexample,forfinancialinstrumentssuchas short-termtradereceivablesandpayables); (b) foraninvestmentinequityinstrumentsthatdonothavea quotedmarketpriceinanactivemarket,orderivatives linkedtosuchequityinstruments,thatismeasuredatcost inaccordancewithIAS39becauseitsfairvaluecannotbe measured reliably; or (c) foracontractcontainingadiscretionaryparticipationfeature (asdescribedinIFRS4)ifthefairvalueofthatfeature cannot be measured reliably.

IFRS7p30 InthecasesdescribedinIFRS7para29(b)and(c),disclose informationtohelpusersofthefinancialstatementsmaketheir ownjudgementsabouttheextentofpossibledifferences betweenthecarryingamountofthosefinancialassetsor financialliabilitiesandtheirfairvalue,including: (a) thefactthatfairvalueinformationhasnotbeendisclosed fortheseinstrumentsbecausetheirfairvaluecannotbe measured reliably; (b) adescriptionofthefinancialinstruments,theircarrying amount,andanexplanationofwhyfairvaluecannotbe measured reliably; (c) informationaboutthemarketfortheinstruments; (d) informationaboutwhetherandhowtheentityintendsto disposeofthefinancialinstruments;and (e) iffinancialinstrumentswhosefairvaluepreviouslycouldnot bereliablymeasuredarederecognised,thatfact,their carryingamountatthetimeofderecognition,andthe amount of gain or loss recognised.

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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 and the methods used to measure the risk; and (c) anychangesin(a)or(b)fromthepreviousperiod.

14.Quantitativedisclosures

IFRS7p34 1. Foreachtypeofriskarisingfromfinancialinstruments, disclose: (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.

IFRS7p35 Ifthequantitativedatadisclosedasatthereportingdateis unrepresentativeoftheentity’sexposuretoriskduringthe period,providefurtherinformationthatisrepresentative.

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(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 collateral held as security and other credit enhancements; (c) informationaboutthecreditqualityoffinancialassetsthat are neither past due nor impaired; and (d) thecarryingamountoffinancialassetsthatwould otherwisebepastdueorimpairedwhosetermshavebeen renegotiated.

Financial assets that are either past due or impaired IFRS7p37 Disclosebyclassoffinancialasset: (a) ananalysisoftheageoffinancialassetsthatarepastdue as at the reporting date but not impaired; (b) ananalysisoffinancialassetsthatareindividually determinedtobeimpairedasatthereportingdate,including the factors the entity considered in determining that they are impaired; 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 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.

IFRS7p39 Disclose: (a) amaturityanalysisforfinancialliabilitiesthatshowsthe remaining contractual maturities; and (b) adescriptionofhowtheliquidityriskinherentin(a)is managed.

IFRS7 In preparing the contractual maturity analysis for financial AppdxB11 liabilities required by IFRS 7 para 39(a), 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.

IFRS7 When a counterparty has a choice of when an amount is paid, AppdxB12 include the liability on the basis of the earliest date on which the entity can be required to pay. For example, financial liabilities that an entity can be required to repay on demand (for example, demand deposits) are included in the earliest time band.

IFRS7 When an entity is committed to make amounts available in AppdxB13 instalments, allocate each instalment to the earliest period in which the entity can be required to pay. For example, include an undrawn loan commitment in the time band containing the earliest date it can be drawn down

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IFRS7 The amounts disclosed in the maturity analysis are the AppdxB14 contractual undiscounted cash flows, for example: (a) gross finance lease obligations (before deducting finance charges); (b) prices specified in forward agreements to purchase financial assets for cash; (c) net amounts for pay-floating/receive-fixed interest rate swaps for which net cash flows are exchanged; (d) contractual amounts to be exchanged in a derivative financial instrument (for example, a currency swap) for which gross cash flows are exchanged; and (e) gross loan commitments.

Such undiscounted cash flows differ from the amount included in the balance sheet because the balance sheet amount is based on discounted cash flows.

IFRS7 If appropriate, disclose the analysis of derivative financial AppdxB15 instruments separately from that of non-derivative financial instruments in the contractual maturity analysis for financial liabilities required by IFRS7p39(a). For example, it would be appropriate to distinguish cash flows from derivative financial instruments and non-derivative financial instruments if the cash flows arising from the derivative financial instruments are settled gross. This is because the gross cash outflow may be accompanied by a related inflow.

IFRS7 When the amount payable is not fixed, determine the amount AppdxB16 disclosed by reference to the conditions existing at the reporting date. For example, when the amount payable varies with changes in an index, the amount disclosed may be based on the level of the index at the reporting date.

(b)Marketrisk

IFRS7p40 Sensitivity analysis AppdxB17- UnlessanentitycomplieswithIFRS7para41,disclose: B28 (a) asensitivityanalysisforeachtypeofmarketrisktowhich theentityisexposedatthereportingdate,showinghow profitorlossandequitywouldhavebeenaffectedbychanges intherelevantriskvariablethatwerereasonablypossibleat that date; (b) themethodsandassumptionsusedinpreparingthe sensitivityanalysis;and (c) changesfromthepreviousperiodinthemethodsand assumptionsused,andthereasonsforsuchchanges.

IFRS7p41 Iftheentitypreparesasensitivityanalysis,suchasvalueatAppdxB17- risk,thatreflectsinterdependenciesbetweenriskvariables(for28 example,Iftheentitypreparesasensitivityanalysis,suchas valueatrisk,interestratesandexchangerates)andusesitto managefinancialrisks,itmayusethatsensitivityanalysisin placeoftheanalysisspecifiedinIFRS7para40.Alsodisclose: (a) anexplanationofthemethodusedinpreparingsucha sensitivityanalysis,andofthemainparametersand assumptionsunderlyingthedataprovided;and (b) anexplanationoftheobjectiveofthemethodusedandof limitations that may result in the information not fully reflectingthefairvalueoftheassetsandliabilitiesinvolved.

IFRS7p42 Other market risk disclosures Whenthesensitivityanalysesdisclosedinaccordancewith IFRS7para40orIFRS7para41areunrepresentativeofarisk inherentinafinancialinstrument(forexample,because theyear-endexposuredoesnotreflecttheexposureduringthe year),disclosethatfactandthereasonthesensitivityanalyses areunrepresentative.

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

15.Capitaldisclosures

1p124A Discloseinformationthatenablesusersofitsfinancial statementstoevaluateitsobjectives,policiesandprocessesfor managing capital.

1p124B Tocomplywithparagraph124A,disclosethefollowing: (a) qualitativeinformationaboutitsobjectives,policiesand processesformanagingcapital,including(butnotlimited to): (i) adescriptionofwhatitmanagesascapital; (ii) whenanentityissubjecttoexternallyimposedcapital requirements,thenatureofthoserequirementsand howthoserequirementsareincorporatedintothe management of capital; and (iii) howitismeetingitsobjectivesformanagingcapital; (b) summaryquantitativedataaboutwhatitmanagesas capital.Someentitiesregardsomefinancialliabilities (forexample,someformsofsubordinateddebt)aspartof capital.Otherentitiesregardcapitalasexcludingsome componentsofequity(forexample,componentsarising fromcashflowhedges); (c) anychangesin(a)and(b)fromthepreviousperiod; (d) whetherduringtheperioditcompliedwithanyexternally imposedcapitalrequirementstowhichitissubject;and (e) whentheentityhasnotcompliedwithsuchexternally imposedcapitalrequirements,theconsequencesofsuch non-compliance.

Basethesedisclosuresontheinformationprovidedinternallyto theentity’skeymanagementpersonnel.

1p124C 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.

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. PresentseparatelyfromotherassetsinthebalancesheetaIAS1p68A non-currentassetclassifiedasheldforsaleandtheassetsofa disposalgroupclassifiedasheldforsale(withincurrentassets).

IFRS5p38 2. Do not offset the assets and liabilities of a disposal group and IAS1p68A donotpresentasasingleamount.Presenttheliabilitiesof 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 expecteddisposalandtheexpectedmannerandtimingof that disposal; (c)thegainorlossrecognisedasresultofremeasurementto fairvaluelesscoststosell,andifnotseparatelypresented onthefaceoftheincomestatement,thecaptioninthe income statement that includes that gain or loss; 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.

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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 the discontinued operation; and (b)ananalysisofthesingleamountin(a)into: (i) therevenue,expensesandpre-taxprofitorlossof discontinued operations; (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.

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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 diluted earnings per share; (c)theamountofthecorrectionatthebeginningoftheearliest prior period presented; 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

1p110 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. Disclosethegainorlossonthenetmonetaryposition(defined byIAS29para27)includedinnetincome.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)).

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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.

B3 Uncertainties about going concern 1p23 1. Disclosematerialuncertaintiesrelatingtoeventsorconditions thatmaycastsignificantdoubtupontheentity’sabilityto continue as a going concern.

1p23 2. Intheextremelyraresituationwherethegoingconcernbasis hasnotbeenused,disclosethatfacttogetherwiththereasons andthebasisactuallyusedtopreparethefinancialstatements.

B4 Departure from IFRS 1p18 1. IntheextremelyraresituationswheredeparturefromIFRSis necessarytoachieveafairpresentation,anentitymaydepart fromIFRSiftherelevantregulatoryframeworkrequiresitor doesnotprohibitsuchadeparture.Inthesecircumstances, disclose: (a)thatmanagementhasconcludedthatthefinancial statementsfairlypresenttheentity’sfinancialposition, financialperformanceandcashflows; (b)thatithascompliedinallmaterialrespectswithapplicable standardsandinterpretations,exceptthatithasdeparted fromaparticularrequirementtoachieveafairpresentation; (c)thestandardorinterpretationfromwhichtheentityhas departed,thenatureofthedeparture,includingthe treatmentthatthestandardorinterpretationwouldrequire, thereasonwhythattreatmentwouldbemisleadinginthe circumstances and the treatment adopted; and (d)foreachperiodpresented,thefinancialimpactofthe departureoneachiteminthefinancialstatementsthat wouldhavebeenreportedincomplyingwiththe requirement.

2. If an entity has departed from a requirement of a standard oraninterpretationinapriorperiod,andthatdepartureaffects theamountsrecognisedinthefinancialstatementsforthe currentperiod,disclosepoint(c)and(d)ofpara1above.

1p21 3. IntheextremelyraresituationswheredeparturefromanIFRSis necessarytoachieveafairpresentationbuttherelevant regulatoryframeworkprohibitssuchadeparture,disclose: (a) thetitleofthestandardorinterpretationinquestion,the natureoftherequirement,andthereasonwhymanagement hasconcludedthatcomplyingwiththatrequirementwould be misleading in the circumstances; and (b)foreachperiodpresented,theadjustmenttoeachitemin thefinancialstatementsthatmanagementhasconcluded wouldbenecessarytoachieveafairpresentation.

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 are obtainable; (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- basedpaymentarrangementsthatexistedduringtheperiod. 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 shareoptionsexercisedduringtheperiod.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 expensethatarisesfromtransactionsaccountedforas 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 being prepared under IFRS; 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 IFRS for the same period; 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,ifan entitypresentedacashflowstatementunderitspreviousGAAP

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

Iffairvalueisusedasdeemedcostforanitemofproperty, plantandequipment,aninvestmentpropertyoranintangible asset(refertoIFRS1paras16and18),thefirstIFRSfinancial statementsshoulddisclose,foreachlineitemintheopening IFRS balance sheet: (a)theaggregateofthosefairvalues;and (b)theaggregateadjustmenttothecarryingamountsreported underpreviousGAAP.

5. Interimfinancialreports

IFRS1p45 1. InterimfinancialreportunderIAS34forpartoftheperiod coveredbyfirstIFRSfinancialstatementsshouldinclude reconciliations of: (a)equityunderpreviousGAAPattheendofthecomparable interim period to equity under IFRS at that date; and (b)profitorlossunderpreviousGAAPforthecomparable interimperiod(currentandyear-to-date)toprofitorloss under IFRS for that period. 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-timeadopterdidnotdiscloseinformationmaterialtoan understanding of the current interim period in its most recent annualfinancialstatementsunderpreviousGAAP,disclosethat informationinitsinterimfinancialreportorincludeacross- reference to another published document that includes it.

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C1 Construction contracts

1p110 1. Disclose in accounting policies: 11p39(b) (a)themethodsusedtodeterminethecontractrevenue recognised in the period; and 11p39(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 an asset; and (b)thegrossamountduetocustomersforcontractworkasa liability.

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 quantities of: (i) eachgroupoftheentity’sbiologicalassetsattheendof the period; and (ii) theoutputofagriculturalproduceduringtheperiod.

41p47 4. Disclosethemethodsandsignificantassumptionsappliedin determiningthefairvalueofeachgroupofagriculturalproduce atthepointofharvestandeachgroupofbiologicalassets.

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

41p49 6. Disclose: (a)theexistenceandcarryingamountsofbiologicalassets whosetitleisrestricted,andthecarryingamountsof biological assets pledged as security for liabilities; (b)theamountofcommitmentsforthedevelopmentor acquisition of biological assets; and (c)financialriskmanagementstrategiesrelatedtoagricultural activity.

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41p50 7. Presentareconciliationofchangesinthecarryingamountof biologicalassetsbetweenthebeginningandtheendofthe current period. Include in the reconciliation: DV41p51 (a)thegainorlossarisingfromchangesinfairvalueless estimatedpoint-of-salecosts.Entitiesareencouragedto disclosebygrouporotherwisetheamountduetophysical changes and due to price changes; (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 highly likely to lie; (d)thedepreciationmethodused; (e)theusefullivesorthedepreciationratesused;and (f) thegrosscarryingamountandtheaccumulated depreciation(aggregatedwithaccumulatedimpairment losses)atthebeginningandendoftheperiod.

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.

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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 and equipment; (iv)obligationstodeliverorrightstoreceivespecified assets at the end of the concession period; (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 requirements of IFRS 7 apply also to leases. Refer to Section A8.

(a) Lessors–financeleases

17p47 1. Disclose: (a)areconciliationbetweenthetotalgrossinvestmentin theleaseatthebalancesheetdateandthepresentvalueof minimumleasepaymentsreceivableatthebalancesheet date; (b)thetotalgrossinvestmentintheleaseandthepresentvalue ofminimumleasepaymentsreceivableatthebalancesheet date,foreachofthefollowingthreeperiods: (i) nolaterthanoneyear; (ii) laterthanoneyearandnolaterthanfiveyears;and (iii)laterthanfiveyears; (c)unearnedfinanceincome; (d)theunguaranteedresidualvaluesaccruingtothebenefitof the lessor; (e)theaccumulatedallowanceforuncollectableminimumlease paymentsreceivable; (f) contingentrentsrecognisedinincome;and (g)ageneraldescriptionofthelessor’ssignificantleasing arrangements.

17p65 2. Thedisclosurerequirementssetoutinpara1abovealso apply to sale and leaseback transactions. Any unique or unusualprovisionsoftheagreementsortermsofthesaleand leaseback transactions should be separately disclosed.

IFRIC4pBC39 3. Thedisclosurerequirementssetoutinpara1abovealsoapply toleasesunderIFRIC4.

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(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 apply to sale and leaseback transactions. Any unique or 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.

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.

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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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D1 Segment reporting


14p3 The segment information in IAS 14 should be given in the IFRS financial statements of entities whose equity or debt securities 14p4 are publicly traded or that are in the process of issuing equity or debt securities in public securities markets. Other entities that prepare IFRS financial statements are encouraged to give 14p5 segment disclosures; if they choose to give such information, they should comply fully with IAS 14. For the detailed rules on determining the segments to be reported in the financial statements, refer to IAS 14 paras 9, 16, 26, 27, 34-37, 41-43, 44 and 47. Refer also to IAS 14, Appendix B, which contains an illustration of the disclosures required for primary and secondary segment reporting formats.

14p81 1. Disclosethetypesofproductandserviceincludedineach reported business segment.

14p81 2. Disclose the composition of each reported geographical segment.

14p81 If the information required by IAS 14 para 81 is disclosed elsewhere in the annual report, for example in the financial review, it need not be repeated in the financial statements.

2. Primarysegmentformat

14p50 1. Discloseforeachreportablesegmentintheentity’sprimary segment reporting format: 14p51 (a)segmentrevenueanalysedasfollows: (i) salestoexternalcustomers;and (ii) revenuefromtransactionswithothersegments.14p52 (b)segmentresultpresentingtheresultfromcontinuing operations separately from the result from discontinued 14p52(A) operations. Restate segment results in prior periods presentedinthefinancialstatementssothatthedisclosures requiredbyIAS14para52ondiscontinuedoperations relatetoalloperationsthathadbeenclassifiedas discontinued at the balance sheet date of the latest period presented; 14p55 (c)totalsegmentassets;14p56 (d)segmentliabilities;14p57 (e)capitalexpenditureonproperty,plantandequipmentand on intangible assets. This disclosure should be on an accruals basis, not on a cash basis. It should include both additions and acquisitions through business combinations including goodwill; 14p58 (f) depreciationandamortisationexpense;and14p61 (g)totalamountofsignificantnon-cashexpenses,otherthan depreciationandamortisation,chargedtothesegment result–forexample,segmentcharges.

14p63 If the entity provides the segment cash flow disclosures that are encouraged by IAS 7 para 50(d), it need not also disclose depreciation and amortisation expense or significant non-cash expenses.

DV,14p59 2. Disclose the nature and amount of any items of segment revenueandsegmentexpensethatareofsuchsize,natureor incidencethattheirdisclosureisrelevanttoexplainthe performance of each reportable segment for the period (for example, the items listed in IAS 1 para 87).

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14p64 3. Disclosetheaggregateoftheentity’sshareofthenetprofit orlossofassociates,jointventures(wheretheequitymethod isusedforjointventures),orotherinvestmentsaccounted for under the equity method for each reportable segment. However,thisrequirementonlyappliesifsubstantiallyallof thoseassociates’operationsarewithinasinglesegment.

14p66 4. Iftherequirementinpara3aboveapplies,disclosethe aggregateinvestmentsinthoseassociates,jointventuresor otherinvestmentsforeachreportablesegment.

36p129 5. Foreachreportableprimarysegment,disclose: (a)theamountofimpairmentlossesrecognised: (i) intheincomestatement;and (ii) directlyinequity;and (b)theamountofreversalsofimpairmentlossesrecognised: (i) intheincomestatement;and (ii) directlyinequity.

36p130 6. Wheretheimpairmentlossrecognisedorreversedismaterialto thefinancialstatementstakenasawhole,thefollowing additional disclosures are required: 36p130(c) (a)foranindividualasset–thesegmenttowhichtheasset belongs,basedontheprimaryformat;and 36p130(d) (b)foracash-generatingunit(CGU)–descriptionoftheCGU (forexample,whetheritisabusinessoperation, geographicalareaorreportablesegmentunderIAS14)and theimpairmentlossrecognisedorreversed,byreportable segment based on the primary format.

14p67 7. Areconciliationbetweentheinformationdisclosedfor reportable segments and the aggregate information in the consolidatedorentityfinancialstatements.Asaminimum,the followingspecificreconciliationrequirementsapply: (a)segmentrevenuereconciledtotheentity’srevenuefrom externalcustomers,includingdisclosureof‘other’revenue (revenuefromexternalcustomersnotincludedinany segment’srevenue); (b)segmentresultreconciledtoacomparablemeasureofthe entity’soperatingprofitorlossfromcontinuingoperations, aswellastotheentity’snetprofitorlossfromcontinuing operations; (c)segmentassetsreconciledtotheentity’sassets; (d)segmentliabilitiesreconciledtotheentity’sliabilities;and (e)segmentresultfromdiscontinuedoperationsreconciledto profitorlossfromdiscontinuedoperations.

14p71 8. Additionaldisclosuresrequired,ifgeographicalsegmentsare primarysegmentformat(either(a)or(b)shouldbeapplied): (a)iftheprimarysegmentformatisgeographicalsegmentsby locationofassets,andthelocationofcustomersdiffersfrom thelocationofassets,disclosetherevenuefromsalesto externalcustomersforeachcustomer-basedgeographical segment(‘salesbydestination’)whoserevenuefromsales toexternalcustomersis10%ormoreoftotalsales;and14p72 (b)iftheprimarysegmentformatisgeographicalsegmentsby locationofcustomers,andtheassetsarelocatedindifferent geographicalareasfromthecustomers,disclosethe followingsegmentinformationforeachasset-based geographicalsegmentwhoserevenuefromsalestoexternal customers or segment assets are 10% or more of the group totals: (i) totalofsegmentassetsbygeographicallocationofthe assets; and (ii) capitalexpenditureonproperty,plantandequipment and on intangible assets by location of the assets (determinedonanaccrualsbasis,notacashbasis. This disclosure includes both additions and acquisitions throughbusinesscombinationsincludinggoodwill).

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3. Secondarysegmentformat

The disclosures in either paras 1 or 2 below (IAS 14 paras 69 or 70) apply, depending on whether the secondary segment format is geographical segments or business segments.

14p69 1. If the geographical segments are the secondary segment format,discloseforeachgeographicalsegment,item(a)where therevenuesare10%ormoreoftotalconsolidatedsales,and items(b)and(c)wheretheassetsare10%ormoreoftotal assets: (a) segmentrevenuefromexternalcustomersbygeographical areabasedongeographicallocationofcustomers(‘salesby destination’); (b)totalofsegmentassetsbygeographicallocationofassets; and (c)capitalexpenditureonproperty,plantandequipmentand on intangible assets by geographical location of assets (determinedonanaccrualsbasisnotacashbasis. This disclosure includes both additions and acquisitions throughbusinesscombinationsincludinggoodwill).

14p70 2. Ifthebusinesssegmentsarethesecondarysegmentformat, disclosethefollowingsegmentinformationforeachbusiness segmentwheretherevenuesare10%ormoreoftotal consolidatedsales,orwheretheassetsare10%ormoreof total assets: (a)segmentrevenuefromexternalcustomers; (b)totalofsegmentassets;and (c)capitalexpenditureonproperty,plantandequipment andonintangibleassets(determinedonanaccrualsbasis, not a cash basis. This disclosure includes both additions and acquisitions through business combinations including goodwill).

3. Inrelationtoparas1and2above,itisusefultoreconcilethe totals to the consolidated amounts.

4. Otherdisclosures

14p74 1. Abusinesssegmentorgeographicalsegmentforwhich information is reported to the board of directors and chief executiveofficerisnotareportablesegmentunderIAS14if itearnsamajorityofitsrevenuefromsalestoothersegments (oftenreferredtoinpracticeasa‘verticallyintegrated segment’).However,ifthatsegment’srevenuefromsales toexternalcustomersis10%ormoreoftheentity’stotal externalrevenue,disclosethatfactandtheamountsofthat segment’srevenuefrom: (a)salestoexternalcustomers;and (b)internalsalestoothersegments.

14p75 2. Forinter-segmenttransfers,disclose: (a)thebasisofpricing;and (b)anychangesinthebasisofpricinginter-segmenttransfers

Inter-segment transfers should be measured for segment reporting purposes on the basis that the entity actually used to price those transfers.

14p76 3. Changesinaccountingpoliciesadoptedforsegmentreporting thathaveamaterialeffectonsegmentinformation–restate prior period segment information unless it is impracticable to do so,and: (a)describethenatureofthechange; (b)describethereasonforthechange; (c) describethefactthatcomparativeinformationhasbeen restated or that it is impracticable to do so; and (d)describethefinancialeffectofthechange,ifitisreasonably determinable.

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14p76 4. Changesinidentificationofthesegments–restate comparativesontothenewbasisunlessthisisimpracticable. Ifrestatementisimpracticable,disclosethecurrentyear segmentdataonboththeoldandthenewbasisof segmentation.

DV, 14p83 5. Donotreportseparatelypreviouslyreportedsegmentsthatno longersatisfythequantitativethresholds.Anexplanationofthe reasonswhyapreviouslyreportedsegmentisnolonger reportedmaybeusefulinconfirmingexpectationsregarding decliningmarketsandchangesintheentity’sstrategies.

14p84 6. WhenanentityadoptsIAS14forthefirsttime,thecomparative segment data should be restated unless it is not practicable. If it isnotpracticable,disclosethatfact.

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. Presentonthefaceoftheincomestatementbasicanddiluted 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; 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.

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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. Financial instruments generating potential ordinary shares may 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 persharearebeforetaxoraftertax.Ifacomponentofthe 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 beginning and end of the period; (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 those risks; (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.

IFRS 4p39A TocomplywithIFRS4para39(c)(i),discloseeither: (a) asensitivityanalysisthatshowshowprofitorlossand equitywouldhavebeenaffectedhadchangesinthe relevantriskvariablethatwerereasonablypossibleatthe balance sheet date occurred; the methods and assumptions 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 3. Somefinancialassetsandfinancialliabilitiescontaina discretionaryparticipationfeatureasdescribedinIFRS4.Ifan entitycannotmeasurereliablythefairvalueofthat feature,disclosethatfacttogetherwithadescriptionofthe contract,itscarryingamount,anexplanationofwhyfairvalue cannotbemeasuredreliably,informationaboutthemarket fortheinstrument,informationaboutwhetherandhowthe entityintendstodisposeoftheinstrumentand,iffinancial instrumentswhosefairvaluepreviouslycouldnotbereliably measuredarederecognised,thatfact,theircarryingamountat thetimeofderecognition,andtheamountofgainorloss recognised.

IFRS4p35(b) 4. Theissuerneednotdisclosetheamountthatwouldresultfrom applyingIAS39totheguaranteedelementofaparticipation feature,nordoesitneedtopresentthatamountseparately.The issuer need not determine that amount if the total liability recognised is clearly higher.

IFRS4p42 5. Anentityneednotapplythedisclosurerequirementsin IFRS4tocomparativeinformationthatrelatestoannualperiods beginningbefore1January2005,exceptforthedisclosures requiredbyIFRS4para37(a)and(b)aboutaccountingpolicies, andrecognisedassets,liabilities,incomeandexpense(and cashflowsifthedirectmethodisused).

IFRS4p43 6. Ifitisimpracticabletoapplyaparticularrequirementof IFRS4paras10-35tocomparativeinformationthatrelatesto annualperiodsbeginningbefore1January2005,disclosethat fact.

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’.

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IFRS4p44 7. InapplyingIFRS4para39(c)(iii)–disclosureofactualclaims comparedwithpreviousestimates–anentityneednotdisclose informationaboutclaimsdevelopmentthatoccurredearlier thanfiveyearsbeforetheendofthefirstfinancialyearinwhich itappliesIFRS4.

8. 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.


Section F

Disclosuresrequiredforretirementbenefitplans

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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 by the report; and 26p32 (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.


Section G

Suggesteddisclosuresforfinancialreviewoutside thefinancialstatements

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outsideoffinancialstatements

G Suggested disclosures for financial review outside the financial statements

DV, 1p9 1. Outsidethefinancialstatements–provideareviewof: (a)themainfactorsandinfluencesdeterminingperformance, includingchangesintheenvironmentinwhichtheentity operates,theentity’sresponsetothosechangesand theireffect,andtheentity’spolicyforinvestmenttomaintain andenhanceperformance,includingitsdividendpolicy; (b)thesourcesoffundinganditstargetedratioofliabilitiesto equity; and (c)theentity’sresourcesnotrecognisedinthebalancesheetin accordancewithIFRS.

DV, 1p10 2. Outsidethefinancialstatements,provideenvironmentalreports, value-addedstatements,etc,ifmanagementbelievesthesewill assist users in making economic decisions.

IFRS does not address the requirements for information to be 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. Liquidity and Capital Resources.Thefollowinginformation shouldbeprovided: (a)Informationregardingthecompany’sliquidity(bothshort andlongterm),including: (i) adescriptionoftheinternalandexternalsourcesof liquidity and a brief discussion of any material unused sources of liquidity. Include a statement by the company 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 year and any subsequent interim period and an indication 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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Disclosurechecklist2008–SectionsH1-H3

H1 IFRS 1, First-time adoption of IFRS

1. Useoffairvalueasdeemedcost

IFRS1p44A If an entity uses a deemed cost in its opening IFRS balance sheetforaninvestmentinasubsidiary,jointlycontrolled entityorassociateinitsseparatefinancialstatements, discloseinthefirstIFRSfinancialstatements:IFRS1p44A(a) (a) theaggregatedeemedcostofthoseinvestmentsforwhich deemedcostisthepreviousGAAPcarryingamount;IFRS1p44A(b) (b)theaggregatedeemedcostofthoseinvestmentsfor whichdeemedcostisfairvalue;andIFRS1p44A(c) (c)theaggregateadjustmenttothecarryingamounts reportedunderpreviousGAAP.

2. Earlyadoptiondisclosures

IFRS 1p47K, The amendment to IFRS 1 and IAS 27 applies for annual 27p45B periodsbeginningonorafter1January2009,withearly application permitted. If an entity applies the amendment to IFRS1andIAS27foranearlierperiod,disclosethatfact.

H2 IFRS 2 Amendment, Vesting conditions and cancellations


IFRS2p62 TheamendmenttoIFRS2iseffectiveforannualperiods beginningonorafter1January2009,withearlyapplication permitted. If an entity applies the amendment to IFRS 2 for an earlierperiod,disclosethatfact.

H3 IFRS 3 Amendment, Business combinations and consequential amendments


IFRS3p59 1. The acquirer discloses information that enables users of its 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 intangible assets that do not qualify for separate recognition or other factors; IFRS3pB64(f) (f) theacquisition-datefairvalueofthetotalconsideration transferredandtheacquisition-datefairvalueofeachmajor classofconsideration,suchas:IFRS3pB64(f)(i) (i) cash;IFRS3pB64(f)(ii) (ii) othertangibleorintangibleassets,includingabusiness or subsidiary of the acquirer;


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IFRS3pB64(f)(iii) (iii)liabilitiesincurred−forexample,aliabilityforcontingent consideration; and IFRS3pB64(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 determining the amount of the payment; and IFRS3pB64(g)(iii) (iii)anestimateoftherangeofoutcomes(undiscounted)or, ifarangecannotbeestimated,thatfactandthereasons whyarangecannotbeestimated.Ifthemaximum amountofthepaymentisunlimited,theacquirer discloses that fact; 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 acquirer discloses: IFRS3pB64(j)(i) (i) theinformationrequiredbyparagraph86ofIAS37;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 acquisition of assets and assumption of liabilities in the businesscombinationinaccordancewithIFRS3para51:IFRS3pB64(l)(i) (i) adescriptionofeachtransaction;IFRS3pB64(l)(ii) (ii) howtheacquireraccountedforeachtransaction;IFRS3pB64(l)(iii) (iii)theamountsrecognisedforeachtransactionandthe lineiteminthefinancialstatementsinwhicheach amount is recognised; and IFRS3pB64(l)(iv) (iv)ifthetransactionistheeffectivesettlementofapre- existingrelationship,themethodusedtodeterminethe settlement amount; IFRS3pB64(m) (m)thedisclosureofseparatelyrecognisedtransactions requiredbyIFRS3p64(l)includestheamountof acquisition-relatedcostsand,separately,theamount ofthosecostsrecognisedasanexpenseandthelineitem oritemsinthestatementofcomprehensiveincomeinwhich thoseexpensesarerecognised.Alsodisclosetheamountof anyissuecostsnotrecognisedasanexpenseandhowthey wererecognised;IFRS3pB64(n) (n)inabargainpurchase(seeIFRS3paras34–36):IFRS3pB64(n)(i) (i) theamountofanygainrecognisedinaccordancewith IFRS3para34andthelineiteminthestatementof comprehensiveincomeinwhichthegainisrecognised; and IFRS3pB64(n) (ii) (ii) adescriptionofthereasonswhythetransaction resulted in a gain;

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IFRS3pB64(o) (o)foreachbusinesscombinationinwhichtheacquirerholds less than 100% of the equity interests in the acquiree at the acquisition date: IFRS3pB64(o)(i) (i) theamountofthenon-controllinginterestinthe acquiree recognised at the acquisition date and the measurement basis for that amount; and IFRS3pB64(o)(ii) (ii) foreachnon-controllinginterestinanacquiree measuredatfairvalue,thevaluationtechniquesand keymodelinputsusedfordeterminingthatvalue;IFRS3pB64(p) (p) inabusinesscombinationachievedinstages:IFRS3pB64(p)(i) (i) theacquisition-datefairvalueoftheequityinterestin the acquiree held by the acquirer immediately before the acquisition date; and IFRS3pB64(p)(ii) (ii) theamountofanygainorlossrecognisedasaresult ofremeasuringtofairvaluetheequityinterestthein acquiree held by the acquirer before the business combination(seeIFRS3para42)andthelineitemin thestatementofcomprehensiveincomeinwhichthat gain or loss is recognised; and IFRS3pB64(q) (q)thefollowinginformation:IFRS3pB64(q)(i) (i) theamountsofrevenueandprofitorlossofthe acquiree since the acquisition date included in the consolidatedstatementofcomprehensiveincomefor the reporting period; and IFRS3pB64(q)(ii) (ii) therevenueandprofitorlossofthecombinedentity for the current reporting period as though the acquisition date for all business combinations that 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’.

IFRS3pB65 5. Forindividuallyimmaterialbusinesscombinationsoccurring duringthereportingperiodthatarematerialcollectively,the acquirer discloses in aggregate the information required by 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. The acquirer discloses information that enables users of its 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:


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IFRS3pB67(a) (a)iftheinitialaccountingforabusinesscombinationis incomplete(seeIFRS3para45)forparticularassets, liabilities,non-controllinginterestsoritemsofconsideration andtheamountsrecognisedinthefinancialstatementsfor thebusinesscombinationhavebeendeterminedonly provisionally:IFRS3pB67 (i) thereasonswhytheinitialaccountingforthebusiness(a)(i), (ii) combination is incomplete; (ii) theassets,liabilities,equityinterestsoritemsof considerationforwhichtheinitialaccountingis incomplete; and IFRS3pB67(a)(iii) (iii)thenatureandamountofanymeasurementperiod adjustmentsrecognisedduringthereportingperiodin accordancewithIFRS3para49.

4. Contingentconsideration

IFRS3pB67(b) 1. For each reporting period after the acquisition date until the entitycollects,sellsorotherwiselosestherightto acontingentconsiderationasset,oruntiltheentitysettlesa contingent consideration liability or the liability is cancelled orexpires:IFRS3pB67(b)(i) (a) anychangesintherecognisedamounts,includingany differences arising upon settlement; IFRS3pB67(b)(ii) (b) anychangesintherangeofoutcomes(undiscounted) and the reasons for those changes; and IFRS3pB67(b)(iii) (c) thevaluationtechniquesandkeymodelinputsusedto measure contingent consideration.

5. Contingentliabilities

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.

6. Goodwill

IFRS3pB67 1. Discloseareconciliationofthecarryingamountofgoodwill(d) atthebeginningandendofthereportingperiodshowing separately: IFRS3pB67 (a) thegrossamountandaccumulatedimpairmentlosses(d)(i) at the beginning of the reporting period; IFRS3pB67 (b) additionalgoodwillrecognisedduringthereporting(d)(ii) period,exceptgoodwillincludedinadisposalgroup that,onacquisition,meetsthecriteriatobeclassified asheldforsaleinaccordancewith‘IFRS5,Non-current assetsheldforsaleanddiscontinuedoperations’;IFRS3pB67 (c) adjustmentsresultingfromthesubsequentrecognition(d)(iii) ofdeferredtaxassetsduringthereportingperiodin 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’;and

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IFRS3pB67 (g) anyotherchangesinthecarryingamountduringthe(d)(vii) reporting period; IFRS3pB67 (h) thegrossamountandaccumulatedimpairmentlosses(d)(viii) at the end of the reporting period.

36p133 Ifanyportionofthegoodwillrecognisedinabusiness combination during the period has not been allocated to a cash-generatingunit(groupofunits)atthereportingdate(see IAS36para84),theamountoftheunallocatedgoodwillis disclosedtogetherwiththereasonswhythatamountremains unallocated.

7. Evaluationofthefinancialeffectsofgainsandlosses recognised in the current reporting period

IFRS3pB67 (e) 1. Disclosetheamountandanexplanationofanygainorloss 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. Earlyadoption–disclosure

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.

9. Otherdisclosuresimpactedbytheearlyadoptionof IFRS3

12p81(h) 1. Incometaxes.Discloseseparately: (a)Inrespectofdiscontinuedoperations,thetaxrelatingto: (i) thegainorlossondiscontinuance;and (ii) theprofitorlossfromtheordinaryactivitiesofthe discontinuedoperationfortheperiod,togetherwiththe corresponding amounts for each prior period; 12p81(i) (b) Theamountofincometaxconsequencesofdividendsto shareholdersthatwereproposedordeclaredbeforethe financialstatementswereauthorisedforissue,butarenot recognisedasaliabilityinthefinancialstatements;12p81(j) (c)Ifabusinesscombinationinwhichtheentityistheacquirer causesachangeintheamountrecognisesforitspre- acquisitiondeferredtaxasset(seeIAS12para67),the amount of that change; and 12p81(k) (d)Ifthedeferredtaxbenefitsacquiredinabusiness combination are not recognised at the acquisition date but arerecognisedaftertheacquisitiondate(seeIAS12 para68),adescriptionoftheeventorchangein circumstancesthatcausedthedeferredtaxbenefitstobe recognised.


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H4 IFRS 8, Operating segments


IFRS8p20 1. Discloseinformationtoenableuserstoevaluatethenatureand financialeffectsofthebusinessactivitiesinwhichtheentity engagesandtheeconomicenvironmentinwhichitoperates.

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

IFRS8p21 3. Givereconciliationsofbalancesheetamountsforreportable segmentstotheentity’sbalancesheetamountsforeachdateat whichabalancesheetispresented.

2. Profitorloss,assetsandliabilities

IFRS8p23 1. Reportameasureofprofitorlossandtotalassetsforeach reportablesegment,andameasureofliabilitiesforeach reportablesegmentifthatamountisregularlyprovidedtothe chiefoperatingdecision-maker.

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

Report interest revenue separately from interest expense for each reportable segment unless a majority of the segment’s revenues are from interest and the chief operating decision maker relies primarily on net interest revenue to assess the performance of the segment and make decisions about resources to be allocated to the segment. In that situation, an entity may report that segment’s interest revenue net of its interest expense and disclose that it has done so.

IFRS8p24(a), 3. Disclosethefollowingabouteachreportablesegmentifthe(b) specifiedamountsareincludedinthemeasureofsegment assetsreviewedbythechiefoperatingdecision-makeroris otherwiseregularlyprovidedtothechiefoperatingdecision maker,evenifnotincludedinthatmeasureofsegmentassets: (a)theamountofinvestmentsinassociatesandjointventures accounted for using the equity method; and (b)theamountofadditionstonon-currentassetsotherthan financialinstruments,deferredtaxassets,post-employment benefitassetsandrightsarisingunderinsurancecontracts.

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3. Explanationofsegmentprofitorloss,segmentassetsand liabilities

IFRS8p27(a), 1. Provideanexplanationofthemeasurementsofprofitorloss,(b), (c), (d), assetsandliabilitiesforeachreportablesegment,including: (e), (f) (a) thebasisofaccountingforanytransactionsbetween reportable segments; (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 understanding of the reported segment information; (c) thenatureofanydifferencesbetweenthemeasurements ofthereportablesegments’assetsandtheentity’sassets. Those differences could include accounting policies andpoliciesforallocationofjointlyusedassetsthatare 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 expenseisallocatedtoasegmentbuttherelatedassetis 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 theentity’sreportablesegments,disclosewhetherithas restated the corresponding items of segment information for earlier periods.

Where there is such a change, restate corresponding information for earlier periods, including interim periods, unless the information is not available and the cost to develop would be excessive. Make this decision for each individual item of 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; and (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. Earlyadoptiondisclosure

IFRS8p35 1. IFRS8,‘Operatingsegments’,publishedin2006, supersedesIAS14,‘Segmentreporting’.IFRS8ismandatory foraccountingperiodsbeginningonorafter1January2009, withearlyadoptionpermitted.Ifthestandardisadoptedearly, disclose that fact.

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8. Other disclosures impacted by the early adoption of IFRS 8

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.

36p129 3. Impairment.An entity that reports segment information in accordancewithIFRS8disclosesthefollowingforeach reportable segment: (a)theamountofimpairmentlossesrecognisedinprofitorloss and directly in equity during the period; and (b)theamountofreversalsofimpairmentlossesrecognisedin profitorlossanddirectlyinequityduringtheperiod.

36p130(c)(i), Disclose for each material impairment loss recognised or (ii) reversedduringtheperiodforanindividualasset,including goodwill,oracash-generatingunit: (a)foranindividualasset: (i) thenatureoftheasset;and (ii) iftheentityreportssegmentinformationinaccordance withIFRS8,thereportablesegmenttowhichtheasset belongs; and 36p130(d)(i), (ii) (b)foracash-generatingunit: (i) adescriptionofthecash-generatingunit(suchas whetheritisaproductline,aplant,abusiness operation,ageographicalarea,orareportablesegment asdefinedinIFRS8);and (ii) theamountofimpairmentlossrecognisedorreversed byclassofassetsand,iftheentityreportssegment informationinaccordancewithIFRS8,byreportable segment.

H5 IAS 1 Revised, Presentation of financial statements

1. Structure and content

1p49 1. Identifythefinancialstatementsanddistinguishthemfrom other information in the same published documents.

1p51 2. Identifyeachfinancialstatementandthenotes.

1p10 (a), (b), 3. Includethefollowingcomponentsinthefinancialstatements: (c), (d), (e), (f) (a) astatementoffinancialposition(balancesheet)atthe period end date; (b) astatementofcomprehensiveincomefortheperiod; (c) separateincomestatement(ifpresented); (d) astatementofchangesinequityfortheperiod; (e) astatementofcashflowsfortheperiod;and (f) notes,includingasummaryofsignificantaccounting policiesandotherexplanatoryinformation.

1p12 Where an income statement is presented, this should be immediately before the statement of comprehensive income.

1p10(f) 4. Whereanentityappliesanaccountingpolicyretrospectivelyor makesaretrospectiverestatementofitems,orreclassifies itemsinitsfinancialstatements,includeastatementoffinancial positionasatthebeginningoftheearliestcomparativeperiod.

1p11 5. Presentwithequalprominenceallofthefinancialstatements.


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1p16 6. Makeanexplicitandunreservedstatementinthenotesthatthe financialstatementscomplywithIFRS.

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

1p19, 1p20 7. Inextremelyrarecircumstanceswhereanentitydepartsfrom arequirementinIFRSbecausecompliancewiththat requirementwouldbesomisleadingastoconflictwiththe objectiveoffinancialstatementssetoutintheFramework, disclose: (a) thatmanagementhasconcludedthatthefinancial statementspresentfairlythefinancialposition,financial performanceandcashflowsoftheentity; (b) thatithascompliedwithapplicableIFRSs,exceptthatithas departedfromaparticularrequirementinordertoachievea fair presentation; and (c) thetitleoftheIFRSfromwhichtheentityhasdepartedand thenatureofthedeparture,includingthetreatmentthatthe IFRSwouldrequire,thereasonwhythattreatmentwouldbe somisleading,andthetreatmentadopted;and (d) foreachperiodpresented,thefinancialeffectofthe departureoneachiteminthefinancialstatementsthat wouldhavebeenreportedincomplyingwiththe requirement.

1p21 8. Where an entity has departed from a requirement of an IFRS in a prior period and the amounts recognised in the current period areaffectedbythatdeparture,makedisclosures(c)and(d) above.

1p23(a), (b) 9. 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.

1p25 10.Makeanassessmentoftheentity’sabilitytocontinueasa goingconcern.Wheremanagementisawareofmaterial uncertaintiesrelatedtoeventsorconditionsthatmaycast significantdoubtontheentity’sabilitytocontinueasagoing concern,disclosethoseuncertainties.

1p25(a), (b) 11.Wherethefinancialstatementsarenotpreparedonagoing concernbasis,disclosethatfact,togetherwiththebasison whichthefinancialstatementsarepreparedandthereasonwhy the entity is not regarded as a going concern.

1p29 12.Presentseparatelyeachmaterialclassofsimilaritems.Present separately items of a dissimilar nature or function unless they are immaterial.

1p32 13.Donotoffsetassetsandliabilitiesorincomeandexpenses unless required or permitted by an IFRS.

1p36(a), (b) 14.Whereanentityhaschangedtheendofitsreportingperiodand preparesfinancialstatementsforaperiodoflessthanormore thanoneyear,disclose: (a) theperiodcoveredbythefinancialstatements; (b) thereasonforusingalongerorshorterperiod;and

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(c) thefactthatamountspresentedinthefinancial statements are not entirely comparable.

1p38 15.Disclosecomparativeinformationinrespectoftheprevious periodforallamountsreportedinthecurrentperiod’sfinancial statements,exceptwhereIFRSspermitorrequireotherwise. Thisincludescomparativeinformationforbothnarrativeand descriptiveinformationwhereitisrelevanttounderstandingthe financialstatementsforthecurrentperiod.

1p39 16.Anentitydisclosingcomparativeinformationshallpresent, asaminimum,twostatementsoffinancialposition,twoof eachoftheotherstatements,andrelatednotes.Wherean entityappliesanaccountingpolicyretrospectivelyormakesa retrospectiverestatementofitemsinitsfinancialstatements,it shallpresent,asaminimum,threestatementsoffinancial position,twoofeachoftheotherstatements,andrelated notes.Anentitypresentsstatementsoffinancialpositionasat: (a)theendofthecurrentperiod; (b)theendofthepreviousperiod(whichisthesameasthe beginningofthecurrentperiod);and (c)thebeginningoftheearliestcomparativeperiod.

1p41 (a), (b), 17.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.

1p42 18.Whereanentitychangesthepresentationorclassificationof items,butitisimpracticabletoreclassifycomparativeamounts, disclose: (a) thereasonfornotreclassifyingtheamounts;and (b)thenatureoftheadjustmentsthatwouldhavebeenmadeif theamountshadbeenreclassified.

1p45 19.Retainthepresentationandclassificationofitemsinthe financialstatementsfromoneperiodtothenextunless: (a)itisapparent,followingasignificantchangeinthenature oftheentity’soperationsorareviewofitsfinancial statements,thatanotherpresentationorclassification wouldbemoreappropriatehavingregardtothecriteriafor the selection and application of accounting policies; or (b)anIFRSrequiresachangeinpresentation.

1p51 (a), (b), 20.Displaythefollowinginformationprominently,andrepeatwhere(c), (d), (e) necessary for the information presented to be understood: (a) thenameofthereportingentityorothermeansof identification,andanychangeinthatinformationfromthe endofthepreviousreportingperiod; (b) whetherthefinancialstatementsareforanindividualentity or a group; (c) thedateoftheendofthereportingperiodortheperiod coveredbythefinancialstatementsandnotes;and (d) thepresentationcurrency(definedinIAS21);and (e) thelevelofroundingusedinpresentingamountsinthe financialstatements.


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1. Statementofcomprehensiveincomeandrelatednotes

1p81 (a), (b) 1. Include either: (a) asinglestatementofcomprehensiveincome;or (b)astatementdisplayingcomponentsofprofitorloss(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 accounted for using the equity method; (d) taxexpense; (e) asingleamountcomprisingthetotalof: (i) thepost-taxprofitorlossondiscontinuedoperations; and (ii) thepost-taxgainorlossrecognisedonthe measurementtofairvaluelesscoststoselloron the disposal of the assets or disposal groups that make up discontinued operations; (f) profitorloss; (g) eachcomponentofothercomprehensiveincome classifiedbynature(excludingamountsin(h)); (h) shareoftheothercomprehensiveincomeofassociated jointventuresaccountedforusingtheequitymethod; and (i) totalcomprehensiveincome.

1p83 (a)(i), 3. Disclosethefollowinginthestatementofcomprehensive(a)(ii), (b)(i), incomeasallocationsofprofitorlossfortheperiod: (b)(ii) (a) profitorlossfortheperiodattributableto: (i) minorityinterests;and (ii) ownersoftheparent;and (b) totalcomprehensiveincomefortheperiodattributableto: (i) minorityinterests;and (ii) ownersoftheparent.

1p84 Entities may give this information in the statement of comprehensive income or in the separate income statement.

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

1p87 5. Noitemofincomeorexpenseisshownasanextraordinary item,eitherinthestatementofcomprehensiveincome(orthe separateincomestatement,ifpresented),orinthenotes.

1p90 6. Disclose,eitherinthestatementofcomprehensiveincomeor inthenotes,theamountofincometaxrelatingtoeach componentofothercomprehensiveincomeincluding reclassificationadjustments.

1p92 7. Disclosereclassificationadjustmentsrelatingtocomponentsof othercomprehensiveincome.

1p94 8. Anentitypresentingreclassificationadjustmentsinthenotes presentsthecomponentsofothercomprehensiveincomeafter anyrelatedreclassificationadjustments.

1p97 9. Discloseseparatelythenatureandamountofitemsofincome orexpensethatarematerial.

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1p99,1p100, 10.Giveananalysisofexpensesrecognisedinprofitorlossusing1p101 aclassificationbasedoneithertheirnatureortheirfunction withintheentity,whicheverprovidesinformationthatisreliable andmorerelevant.Entitiesareencouragedtopresentthis analysisinthestatementofcomprehensiveincomeorinthe separateincomestatement(ifpresented).Whenanentityuses abyfunctionanalysis,itmust,ataminimum,disclosecostof salesseparatefromotherexpenses.

1p104 11.Wheretheentityclassifiesexpensesbyfunction,disclose additionalinformationonthenatureofexpenses,including depreciation,amortisationandemployeebenefitsexpense.

20p29 12.Governmentgrantsrelatedtoincomearesometimespresented asacreditinthestatementofcomprehensiveincome,either: (a) separatelyorunderageneralheadingsuchas‘Other income’;or (b) deductedinreportingtherelatedexpense.

20p29A 13.Ifanentitypresentsthecomponentsofprofitorlossina separateincomestatement,asdescribedinIAS1para81then it presents grants related to income as required in IAS 20 para29.

33p4 14.Anentitythatchoosestodiscloseearningspersharebasedon itsseparatefinancialstatementspresentssuchearningsper shareinformationonlyinitsstatementofcomprehensive incomeandnotintheconsolidatedfinancialstatements.

33p4A 15.Anentitythatpresentsthecomponentsofprofitorlossina separateincomestatementasdescribedinIAS1para81, presents earnings per share only in that separate statement.

19p93B 16.Presentactuarialgainsandlossesrecognisedinother comprehensiveincomeinthestatementofcomprehensive income .

IFRS 1p6 17. An entity shall prepare and present an opening IFRS statement offinancialpositionatthedateoftransitiontoIFRSs.

12p81 18.Discloseseparatelytheamountofincometaxrelatingtoeach componentofothercomprehensiveincome

2. Statement of changes in equity

1p106 (a), (b), 1. Thestatementofchangesinequityshowsthefollowing: (c), (d) (a) totalcomprehensiveincomefortheperiod,showing separatelythetotalamountsattributabletoownersofthe parent and minority interest; (b) foreachcomponentofequity,theeffectsofretrospective applicationorretrospectiverestatementrecognisedin accordancewithIAS8; (c) theamountsoftransactionswithownersintheircapacityas owners,showingseparatelycontributionsbyand distributionstoowners;and (d)foreachcomponentofequity,areconciliationbetween the carrying amount at the beginning and the end of the period,separatelydisclosingeachchange.

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


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3. Statementoffinancialpositionandrelatednote

1p54(a), (b), 1. Includeinthestatementoffinancialposition,asaminimum,the(c), (d), (e), (f), followinglineitems: (g), (h), (i), (j), (a) property,plantandequipment; (k), (l), (m), (n), (b) investmentproperty; (o), (p), (q), (r) (c) intangibleassets; (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 in IAS 12; (p) liabilitiesincludedindisposalgroupsclassifiedasheldfor saleinaccordancewithIFRS5; (q) minorityinterest,presentedwithinequity,butseparately fromshareholders’equity(iftheamendmentstoIAS27 havebeenadoptedthereferenceto’minorityinterest’in IAS1para54(q)isreplacedwith‘non-controllinginterest’ andthereferenceto‘parentshareholders’equity’is replacedwith‘equityoftheownersoftheparent’);and (r) issuedcapitalandreservesattributabletoownersofthe parent.

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

1p56 3. Donotclassifydeferredtaxassetsorliabilitiesascurrentassets

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

1p60(a), (b) 5. Ifthecurrent/non-currentdistinctionofassetsandliabilitiesis madeonthefaceofthebalancesheet,applytheclassification rulesinIAS1paras66-76.Iftheyarenotmadeontheface ofthebalancesheet,ensurethatapresentationbasedon liquidityprovidesinformationthatisreliableandmorerelevant. Ensurealsothatassetsandliabilitiesarepresentedinorderof their liquidity.

1p64 An entity is permitted to use a mixed basis of presentation when this provides information that is reliable and more relevant − for example, when an entity has diverse operations.

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

1p79(a)(i), 7. Disclosethefollowinginformationeitherinthestatementof(a)(ii), (a)(iii), financialpositionorinthenotes: (a)(iv), (a)(v), (a) foreachclassofsharecapital: (a)(vi), (i) thenumberofsharesauthorised; (a)(vii), (b) (ii) thenumberofsharesissuedandfullypaid,andissued but not fully paid;

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(iii) theparvaluepershare,orthattheshareshavenopar value; (iv) areconciliationbetweenthenumberofshares outstanding at the beginning and the end of the reporting period; (v) therights,preferencesandrestrictionsforeachclass ofshare,includingrestrictionsondividendsandthe repayment of capital; (vi) sharesintheentityheldbytheentityitselfofbyits subsidiaries or associates; and (vii)sharesreservedforissueunderoptionsandcontracts forthesaleofshares,includingthetermsandamounts; and (b)adescriptionofthenatureandpurposeofeachreserve withinequity.

1p80 8. Iftheentityhasnosharecapital,discloseinformation,showing changesineachcategoryofequityinterestduringtheperiod, andtherights,preferencesandrestrictionsattachingtoeach category of equity interest.

4. Notestothefinancialstatements

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

1p113 Thenotesaregiveninasystematicmanner,asfarasis practicable,witheachiteminthestatementsoffinancial positionandofcomprehensiveincome,theseparateincome statement(wherepresented)andinthestatementsofchanges inequityandcashflowscross-referencedtoanyrelated information in the notes.

1p117(a), (b) 2. Discloseinthesummaryofsignificantaccountingpolicies: (a) themeasurementbasis(orbases)usedinpreparingthe financialstatements;and (b) theotheraccountingpoliciesusedthatarerelevanttoan understandingofthefinancialstatements.

1p122 3. Disclosethejudgements,apartfromthoseinvolvingestimations thatmanagementhasmadeinapplyingtheentity’saccounting policiesandthathavethemostsignificantimpactonthe amountsrecognisedinthefinancialstatements.

1p125(a), (b) 4. Discloseinformationabouttheassumptionsmadeaboutthe 1p129 futureandothermajorsourcesofestimationuncertaintyatthe endofthereportingperiodthathaveasignificantriskofleading tomaterialadjustmentstothecarryingamountsofassetsand liabilitieswithinthenextfinancialyear.Inrespectofthose assetsandliabilities,disclose: (a) theirnature,and (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.


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1p134, 5. Discloseinformationthatenablesusersofthefinancial135(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 incorporated into the management of capital; and (iii)howtheentityismeetingitsobjectivesformanaging capital; (b) summaryquantitativedataaboutwhattheentitymanages as capital; (c) anychangesin(a)and(b)comparedtothepriorperiod; (d) whethertheentityhascompliedwithanyexternallyimposed capital requirements during the reporting period; and (e) wheretheentityhasnotcompliedwithanyexternally imposedcapitalrequirements,theconsequencesofnot complyingwiththoserequirements.

Theabovedisclosureisbasedoninformationprovided internally to key management personnel.

1p137(a), (b) 6. Discloseinrelationtodividends: (a) theamountofdividendsproposedordeclaredbefore thefinancialstatementswereauthorisedforissuebutnot recognisedasadistributiontoownersintheperiod,andthe related amount per share; and (b)theamountofanycumulativepreferencedividendsnot recognised.

1p138(a), (b), 7. Disclosethefollowing: (c) (a) thedomicileandlegalformoftheentity,thecountryin whichitisincorporatedandtheaddressofitsregistered office(orprincipalplaceofbusiness,ifdifferentfromthe registeredoffice); (b) adescriptionofthenatureoftheentity’soperationsandits principalactivities;and (c)thenameoftheparentandtheultimateparentofthegroup

Earlyadoption–disclosures

1p139 8. IAS1Revisedappliesforannualperiodsbeginningonorafter 1January2009.Earlierapplicationispermitted.Ifanentity adoptsthisstandardforanearlierperiod,disclosethatfact.

5. Otherdisclosuresimpactedbytheearlyadoptionof IAS1Revised

1. IAS1Revisedhasintroducedanumberofwordingchanges andamendsanumberofreferencesinotherIFRSs(standards andinterpretations).Someofthewordingchangesintroduced inIAS1revisedareasfollows: (a) ‘Onthefaceof’isamendedto‘in’; (b) ‘Incomestatement’isamendedto‘statementof comprehensiveincome’; (c) ‘Balancesheet’isamendedto‘statementoffinancial position’; (d) ‘Cashflowstatement’isamendedto‘statementofcash flows’; (e) ‘Balancesheetdate’isamendedto‘endofthereporting period’; (f) ‘Subsequentbalancesheetdate’isamendedto‘endofthe subsequentreportingperiod’; (g) ‘Eachbalancesheetdate’isamendedto‘theendofeach reportingperiod’; (h) ‘Afterthebalancesheetdate’isamendedto‘afterthe reportingperiod’;

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(i) ‘Reportingdate’isamendedto‘endofthereportingperiod’; (j) ‘Eachreportingdate’isamendedto‘theendofeach reportingperiod’; (k) ‘Lastannualreportingdate’isamendedto‘endofthelast annualreportingperiod’; (l) ‘Equityholders’isamendedto‘owners’; (m)‘Removedfromequityandrecognisedinprofitorloss’and ‘removedfromequityandincludedinprofitorloss’are amendedto‘reclassifiedfromequitytoprofitorlossasa reclassificationadjustment’; (n) ‘StandardorInterpretation’isamendedto‘IFRS’; (o) ‘aStandardorInterpretation’isamendedto‘anIFRS’;and (p) ‘StandardsandInterpretations’isamendedto‘IFRSs’

ReferencestothecurrentversionofIAS7,‘Cashflow statements’areamendedtoIAS7,‘Statementofcashflows’.

ReferencestothecurrentversionofIAS10,‘Eventsafterthe balancesheetdate’areamendedto‘IAS10,Eventsafterthe reportingperiod’.

A complete list of these amendments to other pronouncements iscontainedintheAppendixtotherevisedIAS1.These amendmentsareapplicableupontheadoptionoftherevised IAS 1 and impact a large number of disclosures.

If an entity early adopts the revised IAS 1, apply the amendments to all IFRSs.

H6 IAS 23 Revised, Borrowing costs

1. Generaldisclosures 23p26 (a), (b) Disclose: (a) theamountofborrowingcostscapitalisedduringthe period; and (b) thecapitalisationrateusedtodeterminetheamountof borrowingcostseligibleforcapitalisation.

2. Early adoption disclosures

23p29 IAS23Revisedappliesforannualperiodsbeginningonor after1January2009.Earlierapplicationispermitted.Ifanentity adoptsIAS23Revisedforanearlierperiod,disclosethatfact.

H7 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 different date or period;


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27p41(d) (d)thenatureandextentofanysignificantrestrictions (egresultingfromborrowingarrangementsorregulatory requirements)ontheabilityofsubsidiariestotransferfunds totheparentintheformofcashdividendsortorepayloans oradvances;27p41(e) (e)aschedulethatshowstheeffectsofanychangesina parent’sownershipinterestinasubsidiarythatdonotresult inalossofcontrolontheequityattributabletoownersof the parent; and 27p41(f),(i),(ii) (f) ifcontrolofasubsidiaryislost,theparentshalldisclosethe gainorloss,ifany,recognisedinaccordancewith paragraph34; (g)theportionofthatgainorlossattributabletorecognising anyinvestmentretainedintheformersubsidiaryatitsfair valueatthedatewhencontrolislost;and (h)thelineitem(s)inthestatementofcomprehensiveincome inwhichthegainorlossisrecognised(ifnotpresented separatelyinthestatementofcomprehensiveincome).

2. Separatefinancialstatements

27p42 1. Whenseparatefinancialstatementsarepreparedfora parentthat,inaccordancewithIAS27para10,electsnotto prepareconsolidatedfinancialstatements,discloseinthe separatefinancialstatements:27p42 (a) (a) thefactthatthefinancialstatementsareseparatefinancial statements;thattheexemptionfromconsolidationhasbeen used; the name and country of incorporation or residence oftheentitywhoseconsolidatedfinancialstatementsthat complywithIFRShavebeenproducedforpublicuse; andtheaddresswherethoseconsolidatedfinancial statements are obtainable; 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).

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

27p27 3. Presentnon-controllinginterestsintheconsolidatedstatement offinancialpositionwithinequity,separatelyfromtheequityof theownersoftheparent

4. Transition disclosures

27p45 1. The amendments to IAS 27 made in 2008 apply for annual 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 thereforerestateanyprofitorlossattributionforreporting periods before the amendment is applied; 27p45 (b) (b)therequirementsinIAS27paras30and31foraccounting forchangesinownershipinterestsinasubsidiaryafter controlisobtained.Therefore,therequirementsinparas 30and31donotapplytochangesthatoccurredbeforean entity applies the amendments; and 27p45 (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. OtherdisclosuresimpactedbytheearlyadoptionofIAS27

(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.


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(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 toownersandchangesinownershipinterestsin subsidiaries that do not result in a loss of control

(e) Informationtobepresentedinthestatementof comprehensiveincome

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

H8 IAS 32 and IAS 1 Amendment, Puttable financial instruments and obligations arising on liquidation


1p80A (a) 1. Ifanentityhasreclassifiedaputtablefinancialinstrument classifiedasanequityinstrumentbetweenfinancialliabilities andequity,disclosethefollowing: (a)theamountreclassifiedintoandoutofeachcategory (financialliabilitiesandequity);and (b)thetimingandreasonforthatreclassification.

1p80A (b) 2. Ifanentityhasreclassifiedaninstrumentthatimposeson theentityanobligationtodelivertoanotherpartyaprorata share of the net assets of the entity only on liquidation and isclassifiedasanequityinstrumentbetweenfinancialliabilities andequity,disclosethefollowing: (a)theamountreclassifiedintoandoutofeachcategory (financialliabilitiesandequity);and (b)thetimingandreasonforthatreclassification.

2. Capital disclosures

1p136A 1. For puttablefinancialinstrumentsclassifiedasequity instruments,disclose(totheextentnotdisclosedelsewhere):1p136A (a), (a) summaryquantitativedataabouttheamountclassifiedas(b), (c), (d) equity;

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(b) itsobjectives,policiesandprocessesformanaging obligationtorepurchaseorredeemtheinstrumentswhen requiredtodosobytheinstrumentholders,includingany changesfromthepreviousperiod; (c) theexpectedcashoutflowonredemptionorrepurchaseof thatclassoffinancialinstruments;and (d) informationabouthowtheexpectedcashoutflowon redemptionorrepurchasewasdetermined.

3. OtherIAS1disclosures 1p138 Disclosethefollowing,ifnotdisclosedelsewhereininformation publishedwiththefinancialstatements:1p138 (a) (a) thedomicileandlegalformoftheentity,itscountryof incorporationandtheaddressofitsregisteredoffice(or principalplaceofbusiness,ifdifferentfromtheregistered office);1p138 (b) (b) adescriptionofthenatureoftheentity’soperationsandits principalactivities;1p138 (c) (c)thenameoftheparentandtheultimateparentofthegroup; and 1p138 (d) (d)ifitisalimitedlifeentity,informationregardingthelengthof its life.

4. Earlyadoptiondisclosures 1p139B 1. The amendments apply for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifan entityappliestheseamendmentsforanearlierperiod,disclose thatfactandapplytherelatedamendmentstoIAS32, IAS39,IFRS7andIFRIC2,‘Members’sharesinco-operative entitiesandsimilarinstruments’,atthesametime.

5. ConsequentialamendmentstoIFRS7,IAS39andIFRIC2

These consequential amendments do not impact any disclosure requirements but are included for information.

1. IFRS7hasbeenamendedtoexcludefromitsscopeputtable instruments and instruments puttable only on liquidation that arerequiredtobeclassifiedasequityinstrumentsin accordancewiththeamendmentstoIAS32.

2. IAS39hasbeenamendedtoexcludefromitsscopefinancial instrumentsthatarerequiredtobeclassifiedasequity instrumentsinaccordancewiththeamendmentstoIAS32.

3. IFRIC2hasbeenamendedtorequiremembers’sharesin co-operativeentitiesandsimilarinstrumentsthatmeetallof theconditionsspecifiedintheamendmentstoIAS32tobe classifiedasequityinstruments.


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H9 IAS 39, Financial instruments: recognition and measurement − Amendments for eligible hedged items

In July 2008 the Board amended the Standard, by Eligible Hedged Items, to clarify how the principle that determine whether a hedged risk or portion of cash flows is eligible for designation should be applied in particular situations. 1. Earlyadoptiondisclosures

39p103G IAS39parasAG99BA,AG99E,AG99F,AG110Aand AG110Bapplyretrospectivelyforannualperiodsbeginningon afteror1July2009,inaccordancewithIAS8,‘Accounting policies,changesinaccountingestimatesanderrors’.Earlier applicationispermitted.IfanentityappliesEligibleHedged Items(theIAS39amendment)forperiodsbeginningbefore 1July2009,disclosethatfact.

H10 IFRIC 13, Customer loyalty programmes


IFRIC 13p10 IFRIC13appliesforannualperiodsbeginningonorafter 1July2008.Earlyapplicationispermitted.Ifanentityapplies IFRIC13foraperiodbeginningbefore1July2008,disclose that fact.

H11 IFRIC 15, Agreements for the construction of real estate


IFRIC15p20 1. Whenanentityrecognisesrevenueusingthepercentageof completion method for agreements that meet all the criteria in IAS18para14continuouslyasconstructionprogresses(see IFRIC15para17),disclose: (a) howitdetermineswhichagreementsmeetallthecriteriain paragraph14ofIAS18continuouslyasconstruction progresses; (b) theamountofrevenuearisingfromsuchagreementsinthe period; and (c) themethodsusedtodeterminethestageofcompletionof agreements in progress.

IFRIC15p21 2. FortheagreementsdescribedinIFRIC15para20thatarein progressatthereportingdate,disclose: (a) theaggregateamountofcostsincurredandrecognised profits(lessrecognisedlosses)todate;and (b) theamountofadvancesreceived.


IFRIC15p24 IFRIC15appliesforannualperiodsbeginningonorafter IFRIC15p25 1January2009.Earlierapplicationispermitted.Retrospective applicationinaccordancewithIAS8isrequired.Ifanentity appliesIFRIC15foraperiodbeginningbefore1January2009, disclose that fact.

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H12 IFRIC 16, Hedges of a net investment in a foreign operation


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

2. Early adoption disclosures

IFRIC16p18 IFRIC16appliesforannualperiodsbeginningonorafter 1October2008.Earlierapplicationispermitted.Ifanentity appliesIFRIC16foraperiodbeginningbefore1October2008, disclose that fact.

H13 Improvements to IFRS 2008 (May 2008 Annual Improvements project)

1. IFRS5,Non-currentassetsheldforsaleanddiscontinued operations

IFRS5p36A 1. Presenting discontinued operations Anentitythatiscommittedtoasaleplaninvolvingthelossof control of a subsidiary discloses the information required by IFRS5para33topara36whenthesubsidiaryisadisposal groupthatmeetsthedefinitionofadiscontinuedoperationin accordancewithIFRS5para32.

IFRS5p44C 2. Early adoption disclosures The amendments apply for annual periods beginning on or after1July2009.Earlierapplicationispermitted.However,do not apply the amendments for annual periods beginning before 1January2009unlessIAS27isalsoapplied(asamendedin May2008).Ifanentityappliestheamendmentsbefore 1July2009,disclosethatfact.Applytheamendments prospectivelyfromthedateatwhichitfirstappliedIFRS5, subjecttothetransitionalprovisionsinparagraph45ofIAS27 (amendedMay2008).

2. IAS1,Presentationoffinancialstatements 1. Classification of derivatives Changeshavebeenmadetothecurrent/non-current classificationofderivatives.IAS1para68(currentassets) andpara71(currentliabilities)areamended.IAS1para139C (transitionandeffectivedate)isadded.

1p139C 2. Early adoption disclosures The amendments to IAS 1 apply for annual periods beginning onorafter1January2009.Earlierapplicationispermitted.If anentityadoptsIAS1foranearlierperiod,disclosethatfact.

3. IAS16,Property,plantandequipment

1. Recoverable amount and assets held for rental Changeshavebeenmadetorecoverableamountandsale ofassetsheldforrental.IAS16,para6(definition)andpara 69(derecognition)havebeenamended.IAS16para68A (derecognition)andpara81D(effectivedate)havebeenadded.


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106p81D 2. Early adoption disclosure The amendments apply for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifan entityappliestheamendmentsforanearlierperiod,disclose thatfact;atthesametime,applytherelatedamendmentsto IAS7,‘Statementofcashflows’.

7p55 3. Consequential amendment to IAS 7, Statement of cash flows ‘Appendix to IAS 16’ IAS7para14hasbeenamendedandpara55hasbeenadded. The amendment applies for annual periods beginning on or after 1January2009.Earlierapplicationispermitted.Ifanentity appliestheamendmentforanearlierperiod,disclosethatfact andapplyIAS16para68A

4. IAS19,Employeebenefits

1. Changeshavebeenmadetocurtailmentsandnegativepast servicecost,planadministrationcosts.Theterm‘falldue’has beenreplaced.Guidanceoncontingentliabilitieshasbeen added.

IAS19para7(definition),para8(b)(short-termemployee benefits),para32B(multi-employerplans),paras97and98 (post-employmentbenefits:definedbenefitplans),para 111(curtailmentandsettlements)havebeenamendedand para160(effectivedate)hasbeenadded.

19p159D 2. Early adoption disclosures Applytheamendmentsinparagraph7,8(b)and32Bforannual periodsbeginningonorafter1January2009.Earlierapplication is permitted. If an entity applies the amendments for an earlier period disclose that fact. Apply the amendments in paragraph 97,98,111and111Atochangesinbenefitsthatoccuronor after1January2009.

5. IAS20,Governmentgrantsanddisclosureof governmentassistance

1. Changeshavebeenmadetogovernmentloanswithabelow- marketrateofinterest.IAS20para37(governmentassistance) hasbeendeleted.Para10A(governmentgrants)andpara 43(effectivedate)hasbeenadded.

20p43 2. Early adoption disclosures Theamendmentsapplyprospectivelytogovernmentloans receivedonperiodsbeginningonorafter1January2009. Earlierapplicationispermitted.Ifanentityappliesthe amendmentsforanearlierperiod,disclosethatfact.

6. IAS23,Borrowingcosts

1. Changeshavebeenmadetocomponentsofborrowingcosts. IAS23para6(definitions)hasbeenamended.IAS23para29A (effectivedate)hasbeenadded.

23p29A 2. Early adoption disclosures The amendment applies for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifanentity appliestheamendmentforanearlierperiod,disclosethatfact.

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7. IAS27,Consolidatedandseparatefinancialstatements

1. Changeshavebeenmadetomeasurementofasubsidiary heldforsaleinseparatefinancialstatements.IAS27,para 38(accountingforinvestmentsinsubsidiaries,jointlycontrolled entitiesandassociatesinseparatefinancialstatements)has beenamended.IAS27para45A(Effectivedateandtransition) has been added.

27p45A 2. Early adoption disclosures The amendment applies for annual periods beginning on or after1January2009.Anentityshouldapplyitprospectively fromthedateatwhichitfirstappliedIFRS5.Earlierapplication is permitted. If an entity applies the amendment for an earlier period,disclosethatfact.

8. IAS28,Investmentsinassociates

1. Requireddisclosureswheninvestmentsinassociatesare accountedforatfairvaluethroughprofitandlosshavebeen added.Changeshavebeenmadeinrelationtoimpairmentof investmentinanassociate.IAS28para1(scope),para 33(impairmentlosses)andtheheadingaboveparagraph41 havebeenamended.IAS28para41C(effectivedate)hasbeen added.

28p1 Anentityholdinganinvestmentinanassociatethatis measuredatfairvaluethroughprofitorlossinaccordancewith IAS39disclosestheinformationrequiredbyIAS28para37(f)

28p41C 2. Early adoption disclosures The amendments apply for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifan entityappliestheamendmentsforanearlierperiod,disclose that fact and apply for that earlier period the amendments to IFRS7para3,IAS31para1andIAS32para4issuedin May 2008. An entity is permitted to apply the amendments prospectively.

9. IAS31,Interestsinjointventures

1. Requireddisclosureswheninterestsinjointlycontrolledentities areaccountedforatfairvaluethroughprofitorlosshavebeen added.IAS31para1(scope)andtheheadingaboveIAS31 para58havebeenamended.IAS31para58B(effectivedate andtransition)hasbeenadded.

31p1 Anentityholdinganinterestinajointventurethatismeasured atfairvaluethroughprofitorlossinaccordancewithIAS39 disclosestheinformationrequiredbyIAS31para55andIAS31 para56.

31p58B 2. Early adoption disclosures The amendment applies for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifan entityappliestheamendmentforanearlierperiod,disclosethat fact and apply for that earlier period the amendments to IFRS 7para3,IAS28para1andIAS32para4issuedinMay2008. Anentityispermittedtoapplytheamendmentprospectively.

3. Appendix to Amendments to IAS 28 and IAS 31, Amendments to other IFRSs ApplytheamendmentstoIFRS7andIAS32inthisappendix whentherelatedamendmentstoIAS28andIAS31arealso applied.


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(a) IFRS7

IFRS7p44D IFRS7para3(a)hasbeenamended.Theamendmentapplies forannualperiodsbeginningonorafter1January2009.Earlier application is permitted. If an entity applies the amendment for anearlierperiod,disclosethatfactandapplyforthatearlier periodtheamendmentstoparagraph1ofIAS28para1, IAS31para1andIAS32para4,issuedinMay2008.Anentity ispermittedtoapplytheamendmentprospectively.

(b)IAS32

32p97D IAS32para5hasbeenamended.Theamendmentapplies forannualperiodsbeginningonorafter1January2009.Earlier application is permitted. If an entity applies the amendment for anearlierperiod,disclosethatfactandapplyforthatearlier periodtheamendmentstoIFRS7para3,IAS28para1,and IAS31para1,issuedinMay2008.Anentityispermittedto applytheamendmentprospectively.

10.IAS29,Financialreportinginhyperinflationaryeconomies

1. Changeshavebeenmadetothedescriptionofmeasurement basisinfinancialstatements.IAS29paras6,15and19(the restatementoffinancialstatements)havebeenamended.

2. Early adoption disclosures These amendments apply for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifan entityappliestheamendmentforanearlierperiod,disclosethat fact.

11.IAS36,Impairmentofassets 1. Changeshavebeenmadetothedisclosureofestimates usedtodeterminerecoverableamount.IAS36para134(e) (disclosures)hasbeenamended.IAS36para140C(effective date)hasbeenadded.

36p134(e) DisclosetheinformationrequiredbyIAS36para134(a)-(f) foreachcash-generatingunit(groupofunits)forwhichthe carryingamountofgoodwillorintangibleassetswithindefinite usefullivesallocatedtothatunit(groupofunits)issignificant incomparisonwiththeentity’stotalcarryingamountofgoodwill orintangibleassetswithindefiniteusefullivesiftheunit’s (groupofunits’)recoverableamountisbasedonfairvalueless coststosell,themethodologyusedtodeterminefairvalue lesscoststosell.Iffairvaluelesscoststosellisnotdetermined usinganobservablemarketpricefortheunit(groupofunits), disclose: (a) adescriptionofeachkeyassumptiononwhich managementhasbaseditsdeterminationoffairvalueless coststosell.Keyassumptionsarethosetowhichtheunit’s (groupofunits’)recoverableamountismostsensitive;and (b) adescriptionofmanagement’sapproachtodetermining thevalue(orvalues)assignedtoeachkeyassumption, whetherthosevaluesreflectpastexperienceifor, appropriate,areconsistentwithexternalsourcesof information,and,ifnot,howandwhytheydifferfrompast experienceorexternalsourcesofinformation.

Iffairvaluelesscoststosellisdeterminedusingdiscounted cashflowprojections,disclosethefollowinginformation: (a) theperiodoverwhichmanagementhasprojectedcash flows; (b) thegrowthrateusedtoextrapolatecashflowprojections; and (c) thediscountrate(s)appliedtothecashflowprojections.

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2. Early adoption disclosures 36p140C The amendment applies for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifanentity appliestheamendmentforanearlierperiod,disclosethatfact.

12.IAS38,Intangibleassets 1. Changeshavebeenmadeintheareaofofadvertisingand promotionalactivities,theunit-of-productionmethodof amortisation.IAS38,paras69and70(recognitionofan expense)andpara98(amortisationperiodandamortisation method)havebeenamended.IAS38para69A(recognitionof anexpense)andpara130D(transitionprovisionsandeffective date)havebeenadded.

2. Early adoption disclosures 38p130D The amendments apply for annual periods beginning on or after1January2009.Earlierapplicationispermitted.Ifanentity appliestheamendmentsforanearlierperiod,disclosethatfact.

13.IAS39,Financialinstruments:Recognitionand measurement 1. Changeshavebeenmadeintheareaofreclassificationof derivativesintooroutoftheclassificationofatfairvalue throughprofitorloss;designatinganddocumentinghedges atthesegmentlevel;andapplicableeffectiveinterestrate oncessationoffairvaluehedgeaccounting.IAS39,para9 (definitions),para73(qualifyinghedginginstruments)andAG8 (effectiveinterestrate)havebeenamended.IAS39para50A (reclassifications)andpara108C(effectivedateandtransition) havebeenadded.

2. Early adoption disclosures 39p108C The amendments apply for annual periods beginning on or after1January2009.Anentityshouldapplytheamendments inparas9and50Aasofthedateandinthemannerthatit appliedthe2005amendmentsdescribedinpara105A. Earlierapplicationofalltheamendmentsispermitted.Ifan entityappliestheamendmentsforanearlierperiod,disclose that fact.

14.IAS40,Investmentproperty 1. Changeshavebeenmadeintheareaofpropertyunder constructionordevelopmentforfutureuseasinvestment property.IAS40paras8and9(definitions),para48 (measurementatrecognition(fairvaluemodel)),paras53and 54(inabilitytodeterminefairvaluereliably)andpara57 (transfers)havebeenamended.IAS40para22(measurement atrecognition)hasbeendeleted.IAS40paras53Aand53B (inabilitytodeterminefairvaluereliably)andpara85B(effective date)havebeenadded.

2. Early adoption disclosures 40p85B Theamendmentsapplyprospectivelyforannualperiods beginningonorafter1January2009.Anentityispermitted toapplytheamendmentstoinvestmentpropertyunder constructionfromanydatebefore1January2009providedthat thefairvaluesofinvestmentpropertiesunderconstructionwere determinedatthosedates.Earlierapplicationispermitted.If anentityappliestheamendmentsforanearlierperiod,disclose thatfactandatthesametimeapplytheamendmentstoIAS16 paras5and81E.


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IFRS Disclosure Checklist 2008 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.


3. Appendix to Amendments to IAS 40, Amendments to IAS 16 TheamendmenttoIAS16inthisappendixapplieswhenthe entityappliestherelatedamendmentstoIAS40.IAS16para5 has been amended.

16p81E Applytheamendmentprospectivelyforannualperiods beginningonorafter1January2009.Earlierapplicationis permittedifanentityalsoappliestheamendmentstoIAS40 paras8,9,22,48,53,53A,53B,54,57and85Batthesame time.Ifanentityappliestheamendmentforanearlierperiod, disclose that fact.

15.IAS41,Agriculture 1. Changeshavebeenmadeintheareaofdiscountratefor fairvaluecalculationsandadditionalbiologicaltransformation. IAS41paras5,6(agricultural-relateddefinitions)andparas17, 20and21(recognitionandmeasurement)havebeenamended. IAS41para60(effectivedateandtransition)hasbeenadded.

41p60 2. Early adoption disclosure Theamendmentsapplyprospectivelyforannualperiods beginningonorafter1January2009.Earlierapplicationis permitted. If an entity applies the amendments for an earlier period,disclosethatfact.

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IFRS market issues

ComperioYour path to knowledgeOnline library of financial reporting and assurance literature. Provides the full text of IASB literature as well as ISAs,International Auditing Practice Statements and IPSAS. Also contains PwC’s IFRS and corporate governance publi-cations, and Applying IFRS. For more information, visit www.pwc.com/comperio

To order copies of any of these publications, contact your localPricewaterhouseCoopers office or visit www.cch.co.uk/ifrsbooks

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PricewaterhouseCoopers (www.pwc.com) is the world’s largest professional services organisation. Drawing on theknowledge and skills of more than 146,000 people in 150 countries, we build relationships by providing services basedon quality and integrity.

Contacting PricewaterhouseCoopers

Please contact your local PricewaterhouseCoopers office to discuss how we can help you make the change toInternational Financial Reporting Standards or with technical queries. See inside front cover for further details of IFRSproducts and services.

© 2008 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms ofPricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. PricewaterhouseCoopers accepts no liability or responsibility to the contents of this publication or any reliance placed on it.

PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2008

www.pwcinform.com

UP/GCR072-BI8001

Documents

IFRS disclosure checklist 2008 - PwCdesignation ‘DV’ (disclosure voluntary) indicates that the relevant IFRS encourages, but does not require, the disclosure. Additional notes