Basis of Presentation

The condensed interim Consolidated Financial Statements of the KION Group for the three months ended 31 March 2012 were prepared consistent with IAS 34 'Interim Financial Reporting' and the other International Financial Reporting Standards (IFRSs) as adopted by the European Union in accordance with Regulation (EC) No. 1606/2002 of the European Parliament and of the Council on the Application of International Accounting Standards for Interim Financial Information. In accordance with IAS 34, a condensed set of interim financial statements has been prepared.

All of the IFRSs and IFRICs that were issued as at the reporting date and that were required to be applied in the 2012 financial year were applied in preparing the condensed consolidated interim financial statements. These condensed consolidated interim financial statements do not contain all the information and disclosures required of a set of consolidated financial statements and should therefore be read in conjunction with the consolidated financial statements prepared for the year ended 31 December 2011. With the exception of the new IFRS standards and interpretations described below, the accounting policies used to prepare these condensed consolidated interim financial statements were the same as those used to prepare the consolidated financial statements for the year ended 31 December 2011.

Financial reporting standards to be adopted for the first time in the current financial year:

The following financial reporting standards and interpretations were adopted for the first time in the condensed consolidated interim financial statements for the three months ended 31 March 2012:

  • Amendments to IFRS 7 'Financial Instruments: Disclosures', disclosures relating to transfers of financial assets.

The first-time adoption of these standards and interpretations had no significant effect on the presentation of the financial position and financial performance of the KION Group.

Financial reporting standards released but not yet adopted

Segment Reporting

to pagetop
Loading...