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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
At the date of approval of these annual financial statements, certain new accounting standards, amendments and interpretations
to existing standards have been published but are not yet effective, and have not been early adopted by the group.
Management anticipates that all of the pronouncements will be adopted in the group's accounting policies for the first period
beginning after the effective date of the pronouncement. Information on new standards, amendments and interpretations that
are expected to be relevant to the group's annual financial statements or those for which the impact has not yet been assessed,
is provided below. Certain other new standards and interpretations have been issued but are not expected to have a material
impact on the group's annual financial statements.
IFRS 5
Non-current Assets Held for Sale and Discontinued Operations
The amendments to IFRS 5 provide guidance on the accounting treatment when an entity reclassifies an asset or disposal group
from being held for sale to being held for distribution and provides guidance on when to cease held-for-distribution accounting.
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 impact of these amendments has not yet been estimated.
IFRS 7
Financial Instruments: Disclosures
The amendments to IFRS 7 provide additional guidance to help entities identify the circumstances under which a servicing
contract is considered to be “continuing involvement” for the purposes of applying certain disclosure requirements in this
standard. The amendments also clarify that the additional disclosure required by recent amendments to IFRS 7 is not specifically
required for all interim periods.
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 impact of these amendments has not yet been estimated.
IFRS 9
Financial Instruments
IFRS 9 introduces new requirements for the classification and measurement of financial assets and financial liabilities. The
standard requires all recognised financial assets that are within the scope of IAS 39
Financial Instruments: Recognition and
Measurement
to be subsequently measured at amortised cost or fair value. The most significant effect regarding the classification
and measurement of financial liabilities relates to the accounting for changes in fair value of a financial liability, designated as at
fair value through profit or loss, attributable to changes in the credit risk of that liability.
The requirements in IAS 39 related to the derecognition of financial assets and financial liabilities have been incorporated into
the new version of IFRS 9.
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Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS