Page 17 - KELAG Annual Report 2017
P. 17

For  the  preparation  of  these  consolidated  financial  statements,  all  effective  International
                                      Accounting Standards (IASs), International Financial Reporting Standards (IFRSs) as well as all
                                      interpretations  of  the  Standing  Interpretations  Committee  (SIC)  and  the  IFRS  Interpretations
                                      Committee (IFRS IC) that have been adopted and not yet replaced by the European Union as of
                                      31 December 2017 were applied.

                                      The following standards and interpretations were applied for the first time in the reporting period
                                      2017:











                                               Amendments: Disclosure
                                     IAS 7                         29/1/2016 (6/11/2017)     1/1/2017    See below
                                                          Initiative
                                            Amendments: Recognition of
                                     IAS 12      Deferred Tax Assets for   19/1/2016 (6/11/2017)   1/1/2017   None
                                                    Unrealised Losses



                                      IAS 7, the IFRS standard on cash flows, was adjusted following the disclosure initiative. As of
                                      financial year 2017, disclosures are to be made for the first time regarding the changes in financial
                                      liabilities and shown in the cash flow statement as cash flow from financing activities. The relevant
                                      disclosures in these consolidated financial statements are to be found in the notes to the financial
                                      liabilities.
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