Annual Report Gorenje Group 2009

Deferred tax is measured at the tax rates that are expected to be applied to temporary differences
when they reverse, based on the laws that have been enacted or substantively enacted by the
reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax
liabilities and assets, and they relate to income taxes levied by the same tax authority on the same
taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a
net basis or their tax assets and liabilities will be realised simultaneously.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be
available against which they can be utilised. Deferred tax assets are reduced to the extent that it is no
longer probable that the related tax benefit will be realised.
o) Earnings per share
The Company presents basic and diluted earnings per share (EPS) data for its ordinary shares. Basic
EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by
the weighted average number of ordinary shares outstanding during the period.
p) Comparative information
Comparative information has been harmonised with the presentation of information in the current year.
Where required, adjustment of comparative information has been carried out in order to comply with
the presentation of information in the current year.
r) New standards and interpretations not yet adopted
Other than those adopted early as explained in note 2(e), a number of new standards, amendments to
standards and interpretations are not yet effective for the year ended 31 December 2009, and have not
been applied in preparing these financial statements of the Company. None of these will have an effect
on the financial statements of the Company, except for Eligible Hedged Items - Amendment to IAS 39
Financial Instruments: Recognition and Measurement, which clarifies the existing principles that
determine whether specific risks or portions of cash flows are eligible for designation in a hedging
relationship. The amendment, which becomes mandatory for the Company's 2010 financial statements,
is not expected to have a significant impact on the financial statements.
COMPANY - SUPPLEMENTS TO IAS
Amendment to IAS 32 Financial Instruments: Presentation - Classification of Rights
Issues (effective for annual period beginning on or after 1 February 2010)
The amendment requires that rights, options or warrants to acquire a fixed number of the entity’s own
equity instruments for a fixed amount of any currency, are equity instruments if the entity offers the
rights, options or warrants pro rata to all of its existing owners of the same class of its own nonderivative
equity instruments.
The amendments to IAS 32 are not relevant to the Company’s financial statements as the Company
has not issued such instruments at any time in the past.
186
Annual Report Gorenje Group 2009