Page 21 - KELAG Annual Report 2017
P. 21

Amendments: Sale or
                               IAS 28           contribution of assets                     Postponed
                               IFRS 10      between an investor and its   11/9/2014 (deferred)   indefinitely   See below
                                              associate or joint venture
                                             Amendments: Investment       8/12/2016
                               IAS 40                                                       1/1/2018       None
                                                         property   (expected for Q1/2018)
                                                   Foreign Currency       8/12/2016
                               IFRIC 22      Transactions and Advance                       1/1/2018    See below
                                                     Consideration   (expected for Q1/2018)
                                           Uncertainty over Income Tax     7/6/2017
                               IFRIC 23                                                     1/1/2019    See below
                                                       Treatments   (expected for Q3 2018)
                                             Amendments: Prepayment      12/10/2017
                               IFRS 9          Features with Negative                       1/1/2019       None
                                                     Compensation   (expected for Q1 2018)
                                              Amendments: Long-term      12/10/2017
                               IAS 28        Interests in Associates and                    1/1/2019    See below
                                                     Joint Ventures   (expected for 2018)
                                                                          30/1/2014
                               IFRS 14     Regulatory Deferral Accounts                          -         None
                                                                  (no adoption planned)
                                              Annual Improvements to     12/12/2017
                               Various                                                      1/1/2019       None
                                             IFRSs (2015 to 2017 cycle)   (expected for 2018)
                               IFRS 17           Insurance Contracts      18/5/2017         1/1/2021       None



                                      The planned amendments to IAS 28 and IFRS 10 require that, in future, the entire profit or loss be
                                      recorded if the assets sold or contributed qualify as a business operation within the meaning of
                                      IFRS 3; any such transactions concluded in the future can have an impact.

                                      IFRIC 22 clarifies the accounting treatment of transactions that contain considerations received or
                                      paid  in  foreign  currency  by  addressing  the  question  of  when  the  exchange  rate  should  be
                                      determined to translate foreign currency transactions. This interpretation is to be applied from
                                      financial year 2018. The KELAG Group does not anticipate any significant effects.


                                      IFRIC 23 clarified which uncertainties are to be recognised for (future) income taxes e.g., if the tax
                                      treatment depends on the future approval of financial authorities or the system of finance courts.
                                      The  Group  does  not  anticipate  any  significant  effect  from  the  planned  endorsement  of  this
                                      interpretation, which is scheduled for 2018.
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