NOTES TO FINANCIAL STATEMENTS
30 June 2015
Annual Report 2015
Karin Technology Holdings Limited
57
2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES
(continued)
(e)
IFRIC 21 clarifies that an entity recognises a liability for a levy when the activity that triggers payment, as
identified by the relevant legislation, occurs. The interpretation also clarifies that a levy liability is accrued
progressively only if the activity that triggers payment occurs over a period of time, in accordance with
the relevant legislation. For a levy that is triggered upon reaching a minimum threshold, the interpretation
clarifies that no liability should be recognised before the specified minimum threshold is reached. The
interpretation has had no impact on the Group as the Group applied, in prior years, the recognition
principles under IAS 37
Provisions, Contingent Liabilities and Contingent Assets
which for the levies incurred
by the Group are consistent with the requirements of IFRIC 21.
(f)
The
Annual Improvements to IFRSs 2010-2012 Cycle
issued in December 2013 sets out amendments to
a number of IFRSs. None of the amendments are expected to have a significant financial impact on the
Group. Details of the amendment most applicable to the Group are as follows:
t
5IF *'34 "NFOENFOU DMBSJGJFT WBSJPVT JTTVFT SFMBUJOH UP UIF EFGJOJUJPOT PG QFSGPSNBODF BOE TFSWJDF
conditions which are vesting conditions, including (i) a performance condition must contain a service
condition; (ii) a performance target must be met while the counterparty is rendering service; (iii) a
performance target may relate to the operations or activities of an entity, or to those of another
entity in the same group; (iv) a performance condition may be a market or non-market condition;
and (v) if the counterparty, regardless of the reason, ceases to provide service during the vesting
period, the service condition is not satisfied. The amendment has had no impact on the Group.
t
5IF *'34 "NFOENFOU DMBSJGJFT UIBU DPOUJOHFOU DPOTJEFSBUJPO BSSBOHFNFOUT BSJTJOH GSPN B CVTJOFTT
combination that are not classified as equity should be subsequently measured at fair value through
profit or loss whether or not they fall within the scope of IFRS 9 or IAS 39. The amendment has
had no impact on the Group.
t
5IF *'34 "NFOENFOU DMBSJGJFT UIBU BO FOUJUZ NVTU EJTDMPTF UIF KVEHFNFOUT NBEF CZ NBOBHFNFOU
JO BQQMZJOH UIF BHHSFHBUJPO DSJUFSJB JO *'34 JODMVEJOH B CSJFG EFTDSJQUJPO PG PQFSBUJOH TFHNFOUT
that have been aggregated and the economic characteristics used to assess whether the segments
are similar. The amendments also clarify that a reconciliation of segment assets to total assets is
only required to be disclosed if the reconciliation is reported to the chief operating decision maker.
t
5IF *"4 "NFOENFOU JT BQQMJFE SFUSPTQFDUJWFMZ BOE DMBSJGJFT UIBU UIF BTTFU NBZ CF SFWBMVFE CZ
reference to observable data by either adjusting the gross carrying amount of the asset to market
value or by determining the market value of the carrying value and adjusting the gross carrying
amount proportionately so that the resulting carrying amount equals the market value. In addition,
the accumulated depreciation or amortisation is the difference between the gross and carrying
amounts of the asset.
t
5IF *"4 "NFOENFOU JT BQQMJFE SFUSPTQFDUJWFMZ BOE DMBSJGJFT UIBU B NBOBHFNFOU FOUJUZ BO
entity that provides key management personnel services) is a related party subject to the related
party disclosures. In addition, an entity that uses a management entity is required to disclose the
expenses incurred for management services. This amendment is not relevant for the Group as it
does not receive any management services from other entities.
