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Tax and Accounting Management

International Financial Reporting Standards.

From 12th of January 2015, new Improvements to International Financial Reporting Standards are in force in order to streamlining and clarifying the standards. Amendments to International Financial Reporting Standard (IFRS) 8 and to International Accounting Standards (IAS) 16, 24 and 38 are clarifications or corrections to the respective standards. Amendments to IFRS 2 and IFRS 3, involve changes to the existing requirements or additional guidance on the implementation of those requirements.

The Annex to Regulation (EC) No 1126/2008 has been amended in the following issues:

·        IFRS 2 Share-based payment is amended as set out in the Annex to this Regulation.

·        IFRS 3 Business combinations is amended as set out in the Annex to this Regulation.

·        IFRS 8 Operating segments is amended as set out in the Annex to this Regulation.

·        IAS 16 Property, plant and equipment is amended as set out in the Annex to this Regulation.

·        IAS 24 Related party disclosures is amended as set out in the Annex to this Regulation.

·        IAS 38 Intangible assets is amended as set out in the Annex to this Regulation.

·         IAS 37 Provisions, contingent liabilities and contingent assets and 39 Financial instruments: recognition and measurement are amended in accordance with the amendments to IFRS 3 as set out in the Annex