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NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2015
1. Accounting policies and presentation of annual financial statements
continued
1.25 New standards and interpretations
continued
IAS 1
Presentation of Financial Statements
The amendments are designed to encourage entities to apply professional judgement in determining what information to
disclose in the financial statements. The amendments clarify that materiality applies to the whole set of financial statements
and that the inclusion of immaterial information can inhibit the usefulness of financial disclosures. It also clarifies that entities
should use professional judgement in determining where and in what order information is presented in the financial statements.
The effective date of the amendments is for years beginning on or after 1 January 2016.
The group expects to adopt the amendments for the first time in the 2017 annual financial statements and the amendments will
be applied retrospectively, subject to transitional provisions.
The impact of these amendments has not yet been estimated.
IAS 19
Employee Benefits
The amendments are to the requirements in IAS 19 for contributions from employees or third parties that are linked to service.
The effective date of the amendments is for years beginning on or after 1 July 2016.
The group expects to adopt the amendments for the first time in the 2017 annual financial statements and the amendments will
be applied retrospectively, subject to transitional provisions.
The amendments will have no impact on the annual financial statements.
IAS 27
Consolidated and Separate Financial Statements
The amendments to IAS 27 will allow entities to use the equity method to account for investments in subsidiaries, joint ventures
and associates in their separate financial statements.
The effective date of the amendments is for years beginning on or after 1 January 2016.
The group expects to adopt the amendments for the first time in the 2017 annual financial statements and the amendments will
be applied retrospectively, subject to transitional provisions.
The impact of these amendments has not yet been estimated.
IAS 28
Investments in Associates
The amendments to IAS 28 address the inconsistency between the requirements in IFRS 10
Consolidated Financial Statements
and those in IAS 28
Investments in Associates
dealing with the sale or contribution of a subsidiary. The amendments also clarify
when to account for assets that are sold or contributed, that constitute a business, as a single transaction.
The effective date of the amendments is for years beginning on or after 1 January 2016.
The group expects to adopt the amendments for the first time in the 2017 annual financial statements and the amendments will
be applied retrospectively, subject to transitional provisions.
The impact of these amendments has not yet been estimated.
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Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS