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Notes to the financial statements
31 December 2012
(continued)
Annual Report 2012 KPJ Healthcare Berhad
2. Summary of significant accounting policies (continued)
2.2 First time adoption of MFRS (continued)
(a) Business combination (continued)
Acquisition before date of transition
The Group has elected to apply MFRS 3 prospectively from the date of transition. In respect of acquisitions prior to the date of transition,
(i) The classification of former business combinations under FRSs is maintained;
(ii) There is no re-measurement of original fair values determined at the time of business combination (date of acquisition); and
(iii) The carrying amount of goodwill recognised under FRSs is not adjusted.
(b) Determining whether an arrangement contains a Lease
The Group has applied the transitional provision in IC Interpretation 4 Determining whether an Arrangement Contains a Lease and has assessed
all arrangements based upon the conditions in place as at the date of transition.
(c) Estimates
The estimates at 1 January 2011 and at 31 December 2011 are consistent with those made for the same dates in accordance with FRSs (after
adjustments to reflect any differences in accounting policies). The estimates used by the Group and the Company to present these amounts in
accordance with MFRSs reflect conditions as at 1 January 2011, the date of transition to MFRSs and as of 31 December 2011.
Adoption of MFRSs framework did not have any material impact on the financial position as at 1 January 2011 and 31 December 2011, financial
performance and cash flows of the Group and of the Company for the year ended 31 December 2011.
2.3 Standards issued but not yet effective
The standards and interpretations that are issued but not yet effective up to the date of issuance of the Company’s financial statements are disclosed
below. The Company intend to adopt these standards, if applicable, when they become effective.
Effective for
annual periods
beginning
Description
on or after
MFRS 101 Presentation of Items of Other Comprehensive Income (Amendments to MFRS 101)
1 July 2012
Amendments to MFRS 101: Presentation of Financial Statements (Annual Improvements 2009-2011 Cycle)
1 January 2013
MFRS 3 Business Combinations (IFRS 3 Business Combinations issued by IASB in March 2004)
1 January 2013
MFRS 10 Consolidated Financial Statements
1 January 2013
MFRS 11 Joint Arrangements
1 January 2013
MFRS 12 Disclosure of interests in Other Entities
1 January 2013
MFRS 13 Fair Value Measurement
1 January 2013
MFRS 119 Employee Benefits
1 January 2013
MFRS 127 Separate Financial Statements
1 January 2013
MFRS 128 Investment in Associate and Joint Ventures
1 January 2013
MFRS 127 Consolidated and Separate Financial Statements (IAS 27 as revised by IASB in December 2003)
1 January 2013