51.28.1. Standards, Interpretations and amendments to published Standards as adopted by the EU that are not yet effective for annual periods ending on 31 December 2014
The following new Standards, amendments to the existing Standards and Interpretations adopted by the EU are not yet mandatorily effective for annual periods ending on 31 December 2014:
- IFRIC Interpretation 21 Levies - for annual periods beginning 17 June 2014,
- Amendments to IAS 19 Employee Benefits entitled Defined benefit plans: Employee contributions - for annual periods beginning 1 February 2015,
- Amendments to IFRS 2010-2012 - for periods beginning 1 February 2015,
- Amendments to IFRS 2011-2013 - for periods beginning 1 January 2015.
The Group plans to adopt these pronouncements when they become effective.
The Group is currently evaluating the impact of above mentioned new Standards, amendments to Standards and Interpretations. However, it is not expected to have a significant effect on its consolidated financial statements.
51.28.2. Standards and interpretations not yet endorsed by the EU
The following new Standards, amendments to Standards and Interpretations not yet endorsed by the EU are not mandatorily effective for annual periods ending on 31 December 2014:
- IFRS 9 Financial Instruments (2014) – for annual periods beginning 1 January 2018,
- IFRS 14 Regulatory Deferral Accounts – for annual periods beginning 1 January 2016,
- Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11 Joint Arrangements) – for annual periods beginning 1 January 2016,
- Clarification of Acceptable Methods of Depreciation and Amortization (Amendments to IAS 16 Property, Plant and Equipment and IAS 38 Intangible assets) – for annual periods beginning 1 January 2016,
- IFRS 15 Revenue from Contracts with Customers – for annual periods beginning 1 January 2017,
- Agriculture - Bearer Plants (Amendments to IAS 16 Property, Plant and Equipment and
IAS 41 Agriculture) – for annual periods beginning 1 January 2016, - Equity Method in Separate Financial Statements (Amendments to IAS 27 Separate Financial Statements) – for annual periods beginning 1 January 2016,
- Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to
IFRS 10 Consolidated Financial Statements and to IAS 28 Investments in Associates) – for annual periods beginning 1 January 2016, - Amendments to IFRS 2012-2014 – for annual periods beginning 1 January 2016,
- Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other Entities and IAS 28 Investments in associates and joint ventures) – for annual periods beginning 1 January 2016,
- Disclosure Initiative (amendments to IAS 1 Presentation of Financial Statements) – for annual periods beginning 1 January 2016.
The Company plans to adopt these pronouncements when they become effective.
The Company has not yet analysed the likely impact of the new Standards, amendments to Standards and Interpretations on its financial position or performance.