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EN_Tipco_Annual Report 2014

ANNUAL REPORT 2014 Outstanding intragroup balances, significant intragroup transactions, and the investment of the Company in subsidiary companies and shareholders’ equity of the subsidiaries have been eliminated in this consolidation. The financial statements of the subsidiaries are prepared by using the same significant accounting policies as applied to the Company. 2.4. Notification of applying the Financial Reporting Standards. The Federation of Accounting Professions has issued the following new and Revised Financial Reporting standards. 2.4.1. The Financial Reporting Standards which are effective for accounting periods beginning on or after January 1, 2014. Conceptual Framework for Financial Reporting (revised 2014) Accounting Standards TAS 1 (revised 2012) Presentation of Financial Statements TAS 7 (revised 2012) Statement of Cash Flows TAS 12 (revised 2012) Income Taxes TAS 17 (revised 2012) Leases TAS 18 (revised 2012) Revenue TAS 19 (revised 2012) Employee Benefits TAS 21 (revised 2012) The Effects of Changes in Foreign Exchange Rates TAS 24 (revised 2012) Related Party Disclosures TAS 28 (revised 2012) Investments in Associates TAS 31 (revised 2012) Interests in Joint Ventures TAS 34 (revised 2012) Interim Financial Reporting TAS 36 (revised 2012) Impairment of Assets TAS 38 (revised 2012) Intangible Asset Financial Reporting Standards TFRS 2 (revised 2012) Share-based Payment TFRS 3 (revised 2012) Business Combinations TFRS 5 (revised 2012) Non-current Assets held for Sale and Discontinued Operations TFRS 8 (revised 2012) Operating Segments


EN_Tipco_Annual Report 2014
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