Capítulo II: Marco teórico
2.2. Composición corporal
2.2.2. Cambios en la composición corporal asociados al envejecimiento
Financial Instruments (IFRS 9 [2014]) which contains the results of all stages of the IFRS 9 project and replaces both IAS 39 Financial Instruments: Recognition and Measurement and all earlier versions of IFRS 9 Financial Instruments. The standard contains new provisions on classification and measurement, on impairment and hedge accounting. IFRS 9 is to be applied for the first time for the financial year beginning on or after 01 January 2018. The standard has not yet been adopted by the EU. The implications of these new regulations are being analy- sed by the group. The present status of analysis does not allow for a statement on probable implications of the amended regu- lations for net assets, financial position and results of operation. IFRS 15 has been published in May 2014 but has not yet been adopted by the EU. It is to be applied for the first time for the financial year beginning on or after 01 January 2018. An early application of the standard is permitted. The standard is to be applied retrospectively. It introduces a new model to recog- nise revenue in five analytical steps which shall be applied to all revenues from contracts with customers. The core principle of the standard is that a company shall recognise revenue at the time of transfer of goods or services to customers in the amount of the return which the company may expect in ex- change for the transfer of these goods or services. The basic
principles in IFRS 15 offer a structured approach to evaluate and recognise revenue. The standard is to be applied in all kinds of companies across all branches and thus replaces all other existing regulations regarding revenue recognition (IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Cu- stomer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers and SIC 31 Revenue – Barter Transactions Invol- ving Advertising Services). Application of the new standard requires more valuations and arbitrary decisions as compared to the standards that currently apply for revenue recognition, as the amount of revenues to be recognised is determined by the amount of the return which the company may expect in exchange for the transfer of goods or services. Particular challenges may arise especially in the case that a return is variable. The implications of these new regulations are being analysed by the group. The present status of analysis does not allow for a statement on the probable implications of the amended regulations for net assets, financial position and re- sults of operation.
The Management Board of YOC AG assumes that the abo- vementioned standards and interpretations will be applied, if cases of application occur, in the consolidated financial state- ments of the financial year in which they become mandatory.
Title
Temporal
Scope Application for YOC
Impact on financial statements
expected?
IFRS 9 Financial instruments 01/01/2018 under examination under examination
IFRS 15 Revenue from contracts from customers 01/01/2018 yes under examination
IFRS 16 Leases 01/01/2019 under examination under examination
IFRS 14 Regulatory deferral accounts 01/01/2016 no n/a
Amendment of IFRS 10 and IAS 28 - Sales or contributions of assets
between an investor and its associate / joint venture 01/01/2016 no n/a
Amendment of IAS 27 – Equity-method in seperate financial statements 01/01/2016 no n/a
Amendment of IAS 16 and IAS 41 – Bearer plants 01/01/2016 no n/a
Amendment of IAS 16 and IAS 38 – Clarification of acceptable methods
of depreciation and amortisation 01/01/2016 under examination under examination
Amendment of IFRS 11 – Joint arrangements 01/01/2016 no n/a
Amendment of IAS 19 – Employee contributions 01/02/2015 no n/a
Amendment of IFRS 10, IFRS 12 and IAS 28 – Investment entities: Apply-
ing the consolidation exception indefintite by postponed no n/a
Amendment of IAS 1 - Presentation of financial statements 01/01/2016 under examination under examination
Annual improvements of IFRS (Cycle 2010-2012) 01/02/2015 no n/a
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2 Gr o u p Ma n a g e me n t 1 To o u r S har e ho lde rs 3 Co n so lid a te d F in a n cia l S ta te -3.1 Consolidation principles
The consolidated financial statements include those compa- nies which YOC AG controls. Control of an investee is consi- dered to exist when the Group is exposed, or has rights to, variable returns from its involvement with the investee, and is able to apply its power of disposition over the affiliated com- pany to affect those yields.
The inclusion of subsidiaries in the consolidated financial statements begins from the date on which YOC AG achieves control over the subsidiary. It ends at the time at which con- trol of the subsidiary is lost.
The separate financial statements of the consolidated compa- nies are prepared as of the reporting date of the consolidated financial statements.
Intra-group earnings and expenses as well as intercompany assets, liabilities and equity capital are eliminated in full.
3.2 Consolidated companies
The companies of YOC Group that were consolidated as of 31 December 2015 are as follows:
The subsidiary Moustik GmbH, Berlin, was liquidated in December 2015 due to the discontinuation of the operating business, and deconsolidated with the submission of the closing balance as of 30 September 2015.
The subsidiary YOC France SAS, Paris, France is under liquidation due to the discontinuation of the operating business. The decon- solidation has taken place based on the closing balance as of 31 December 2015.
Both liquidations are not expected to generate significant effects for the Group’s net assets, financial position and results of ope- ration.
3. Consolidation
Fully consolidated companies Share in % through Nr.Held since
Domestic
1 YOC AG, Berlin - - -
2 YOC Mobile Avertising GmbH, Berlin 100% 1 11/03/09
Foreign
3 YOC Mobile Advertising Ltd., London, Great Britain 100% 1 01/01/07 4 YOC Central Eastern Europe GmbH, Vienna , Austria 100% 1 01/06/09