Análisis modal
6.6. Parte V: Análisis modal espectral
Trade accounts receivable less write-downs amounted to €7,061 million (2010: €6,668 million) on the closing date, including €7,049 million (2010: €6,655 million) maturing within one year and €12 million (2010: €13 million) maturing in subsequent years.
5.3 Current liabilities
5.3.1 Classification
A liability is classified as “current” when:
it is expected to be settled in the normal course of the operating cycle (e.g. salary accruals); or
it is held primarily for the purpose of being traded; or
it is due to be settled within 12 months after the reporting period (e.g. income taxes); or
the entity does not have an unconditional right to defer settlement for at least 12 months after the reporting period.
All other liabilities are classified as “non-current”.
5.3.2 Refinancing
Financial liabilities due to be settled within 12 months after the reporting period are classified as current even if:
the original term was more than 12 months; and
refinancing on a long-term basis is agreed after the reporting period (and before the financial statements are authorised for issue). Commentary
Refinancing or rescheduling payments after the reporting period is a non- adjusting event that may require separate disclosure in accordance with IAS 10 “Events After the Reporting Period” (see later session).
Where an entity expects to exercise a right to “roll over” or otherwise refinance an obligation for at least 12 months after the reporting period it is non-current. Commentary
But it is current if the entity has no such right.
A liability which is payable on demand (e.g. as a result of breaching a loan covenant) is classified as current.
Commentary
The entity does not have an unconditional right to defer settlement for a period of at least 12 months. Rectification of a breach after the end of the reporting period is another example of a non-adjusting event.
If a lender provides a grace period ending at least 12 months after the reporting period, within which an entity can rectify a breach, the liability is non-current.
Commentary
A grace period is the period of time before the borrower must begin or resume repaying a loan or debt. In substance the lender cannot demand immediate repayment.
5.4 Overall structure
There is no prescribed format although the guidance on implementing IAS 1, that is not part of the standard, provides examples.
There are two main types of format found in practice, both of which are consistent with IAS 1. They are expansions of two different expressions of the accounting equation:
Net assets (assets – liabilities ) = Capital
Assets = Capital + Liabilities Commentary
The example in the implementation guidance applies the current/non-current distinction in the format Assets = Capital + Liabilities.
5.5
Line items
Certain items must be shown in the statement of financial position. The minimum requirements for these “line items” are:
Property, plant and equipment;
Investment property;
Intangible assets;
Financial assets (excluding amounts under *);
Investments accounted for under the equity method *;
Biological assets;
Inventories;
Trade and other receivables *;
Held for sale non-current assets and disposal groups;
Cash and cash equivalents *;
Trade and other payables **;
Provisions **;
Financial liabilities (excluding amount under **);
Current tax liabilities and assets;
Deferred tax liabilities and assets;
Liabilities included in held for sale disposal groups;
Non-controlling interests (presented as part of equity);
Issued equity capital and reserves (attributable to owners of the parent). Commentary
“Owners” are holders of instruments classified as equity. Note that the order of presentation is not prescribed.
5.6 Subclassifications
Further subclassifications of the line items presented should be disclosed either in the statement of financial position or in the notes, in a manner appropriate to the entity’s operations.
The detail provided in subclassifications depends on specific requirements of other IFRSs and the size, nature and amounts involved. The disclosures will vary for each item.
Commentary
Typically companies will present the main headings in the statement of financial position and the detail in the notes to the financial statements.
5.6.1 Examples
Property, plant and equipment by class (IAS 16).
Receivables disaggregated between trade customers, related parties, prepayments and other amounts.
Inventories classifications such as merchandise, production supplies (“consumables”), materials, work in progress and finished goods (IAS 2).
Provisions for employee benefits separate from other provisions.
5.6.2 Capital disclosures
Commentary
The following disclosures may be given either in the statement of financial position or the statement of changes in equity, or in the notes.
Classes of equity capital and reserves (e.g. paid-in capital, share premium and other reserves).
For each class of share capital:
the number of shares authorised;
the number of shares issued analysed between fully paid and not fully paid;
par value per share (or no par value);
a reconciliation of the number of shares outstanding at the beginning and at the end of the period;
the rights, preferences and restrictions (including restrictions on the distribution of dividends and capital repayments);
shares in the entity held by the entity or by its subsidiaries or associates entity (“treasury shares”); and
shares reserved for issue under options, including terms and amounts.
Illustration 3
Bayer Group Consolidated Statements of Financial Position Note Dec. 31, 2010 Dec. 31, 2011 € million € million Noncurrent assets Goodwill [17] 9,002 9,160
Other intangible assets [17] 11,161 10,295
Property, plant and equipment [18] 9,835 9,823
Investments accounted for using the equity method [19] 354 319
Other financial assets [20] 1,164 1,364
Other receivables [23] 498 425
Deferred taxes [14] 1,174 1,311
33,188 32,697
Current assets
Inventories [21] 6,104 6,368
Trade accounts receivable [22] 6,668 7,061
Other financial assets [20] 1,008 2,784
Other receivables [23] 1,336 1,628
Claims for income tax refunds 362 373
Cash and cash equivalents 2,840 1,770
Assets held for sale [6.3] – 84
18,318 20,068
Total assets 51,506 52,765
Equity [24]
Capital stock of Bayer AG 2,117 2,117
Capital reserves of Bayer AG 6,167 6,167
Other reserves 10,549 10,928
Equity attributable to Bayer AG stockholders 18,833 19,212
Equity attributable to non-controlling interest 63 59
18,896 19,271
Noncurrent liabilities
Provisions for pensions and other post-employment benefits [25] 7,305 7,870
Other provisions [26] 1,478 1,649 Financial liabilities [27] 9,944 7,995 Other liabilities [29] 471 474 Deferred taxes [14] 2,577 2,116 21,775 20,104 Current liabilities Other provisions [26] 3,870 4,218 Financial liabilities [27] 1,889 3,684
Trade accounts payable [28] 3,497 3,779
Income tax liabilities [26.1] 62 76
Other liabilities [29] 1,517 1,630
Provisions directly related to assets held for sale [6.3] – 3
10,835 13,390
Total equity and liabilities 51,506 52,765
Bayer Group Annual Report 2011
Commentary
Note that total equity is separately attributed to the owners of the parent and non-controlling interest.