Page 17 - Annual Report KELAG Group 2018
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 2018 were applied.

                                      The following standards and interpretations were applied for the first time in the reporting period
                                      2018:









                                               Amendments: Investment   08/12/2016
                                       IAS 40                                     01/01/2018     None
                                               Property            (14/03/2018)
                                               Changes: Share-based   20/06/2016
                                       IFRS 2                                     01/01/2018     None
                                               Payment             (26/02/2018)
                                               Applying IFRS 9 “Financial
                                               Instruments” together   12/09/2016
                                       IFRS 4                                     01/01/2018     None
                                               with IFRS 4 “Insurance   (03/11/2017)
                                               Contracts”
                                                                   24/07/2014
                                       IFRS 9   Financial Instruments             01/01/2018     See below
                                                                   (22/11/2016)
                                                                   28/05/2014 or
                                               Revenue from Contracts   11/09/2015 or
                                               with Customers or
                                       IFRS 15                     12/04/2016     01/01/2018     See below
                                               amendments and
                                               clarifications thereon   (22/09/2016 or
                                                                   31/10/2017)
                                               Foreign Currency
                                       IFRIC 22   Transactions and   08/12/2016   01/01/2018     None
                                                                   (28/03/2018)
                                               Advance Consideration


                                      The IASB issued IFRS 9 “Financial Instruments” in July 2014. This standard is to be applied for the
                                      first time in the reporting period for financial years beginning on or after  1 January 2018 and
                                      replaces  IAS  39  “Financial  Instruments”.  IFRS 9  provides  for  changes  to  the  classification  and
                                      measurement of financial instruments, the impairment of financial assets and hedge accounting
                                      requirements.
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