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DES GB2013 E

DEUTSCHEEUROSHOPANNUALREPORT2013/CONSOLIDATEDFINANCIALSTATEMENTS 154 REVISION OF IAS 1: PRESENTATION OF ITEMS OF OTHER COMPREHENSIVE INCOME (SINCE 1 JULY 2012) The amendments to IAS 1 mean that new terminology is now used for the profit and loss account previously called the statement of comprehensive income. The statement of comprehensive income is now called the “income statement and other results”. This however is not compulsory. The company has not adopted this new terminology. The amended IAS 1 continues to allow the income statement and other results to be disclosed in one profit and loss account or in two directly consecutive profit and loss accounts. However, changes to IAS 1 require the grouping of items of Other comprehensive income into two categories: a) Items which are not subsequently reclassified into the income statement and b) Items which under certain conditions in the future will be reclassified into the income statement. Applicable income taxes are to be allocated to Other results items. This does not preclude the possibility of presenting Other results items before tax, however. The changes have been applied retroactively by the Group and the Other results items altered accordingly. Apart from the above-mentioned presentational changes, no consequences for the presentation of the income statement and other earnings arise from the application of the amended IAS 1. EMPLOYEE BENEFITS, AMENDMENTS TO IAS 19 (SINCE 1 JULY 2012) The revised version of IAS 19 requires the immediate equity recognition of actuarial gains/losses on pension obliga- tions under Other comprehensive income. The management too may in future no longer apply the expected long-term return on plan assets to the plan assets portfolio. Instead it must apply the discount rate used for the liability. Also, companies must in the future provide more explanatory notes. Among other things, the financing strategy should be described and quantified. Also, a sensitivity analysis is required to clarify the influence of significant parameter changes on the pension liability. IFRS 13 FAIR VALUE MEASUREMENT (SINCE 1 JANUARY 2013) IFRS 13 lays down uniform guidelines regarding evaluation at fair value and associated information. The scope of application of IFRS 13 is wide-ranging and covers both financial and non-financial items. IFRS 13 is always used when another IFRS requires or permits valuation at fair value or information on the calculation of fair value is required. This does not apply to share-based remuneration that falls within the scope of IFRS 2 Share-based remuneration, leases that fall within the scope of IAS 17 Leases and evaluations similar to fair value but not fair value (such as net realis- able value under IAS 2 Inventories or use value under IAS 36 Impairment of assets). IFRS 13 defines fair value as the price the reporting entity would receive in a normal transaction between market par- ticipants on the capital market (or the most advantageous market) on the measurement date under current market conditions when selling an asset, or would have to pay when transferring a debt. The fair value as per IFRS 13 is the price on the market, regardless of whether this price is directly observable or estimable using another evaluation method. In addition, IFRS 13 contains far-reaching disclosure requirements. IFRS 13 is to be applied prospectively from 1 January 2013.

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