2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

3CONSOLIDATED FINANCIAL STATEMENTSNotes to the consolidated fi nancial statements3.3. NOTES TO THE CONSOLIDATED FINANCIALSTATEMENTSReporting entityCasino, Guichard-Perrachon is a French société anonyme listed on compartment A of Euronext Paris. In these notes, theCompany and its subsidiaries are referred to as “the Group” or “Casino”. The Company’s registered office is at 1, Esplanadede France, 42008 Saint-Étienne.The consolidated financial statements for the year ended 31 December 2010 reflect the accounting situation of the Company,its subsidiaries and jointly-controlled companies, as well as the Group’s interests in associates.The 2010 consolidated financial statements of Groupe Casino were approved for publication by the Board of Directors on28 February 2011.NOTE 1. SIGNIFICANT ACCOUNTING POLICIESNote 1.1. Accounting standardsPursuant to European regulation 1606/2002 of 19 July 2002, theconsolidated financial statements have been prepared in accordancewith the standards and interpretations issued by the InternationalAccounting Standards Board (IASB), as adopted by the EuropeanUnion and mandatory as of the reporting date.These standards are available on the European Commission’s website(http://ec.europa.eu/internal_market/accounting/ias/index_en.htm).They include international accounting standards (IAS) and internationalfinancial reporting standards (IFRS), as well as interpretations issuedby the International Financial Reporting Interpretations Committee(IFRIC).The significant accounting policies set out below have been appliedconsistently to all periods presented, after taking account of or with theexception of the new standards and interpretations set out below.Note 1.1.1. New standards, amendmentsand interpretations applicableas of 1 january 2010The Group has applied the following new standards, amendmentsand interpretations as of 1 January 2010:■■■■IAS 27 Revised – Consolidated and Separate Financial Statements,mandatory for annual periods beginning on or after 1 July 2009;IFRS 3 Revised – Business Combinations, applicable to businesscombinations completed in the first annual period beginning on orafter 1 July 2009;The revised standard is applicable prospectively. Businesscombinations and changes in percentage interests before 1 January2010 are therefore not affected and have been accounted inaccordance with IFRS 3 and IAS 27 as described in notes 1.3onwards;Annual improvements to IFRSs (May 2008) – amendment to IFRS 5,relating to the reclassification as “non-current assets held for sale”of all assets and liabilities of a subsidiary held for sale even wherethe Group retains a residual interest. This amendment is applicablefor periods beginning on or after 1 July 2009;Amendment to IAS 39 – Financial Instruments: Recognition andMeasurement “Eligible Hedged Items”, mandatory for annual periodsbeginning on or after 1 July 2009;■■■■IFRIC 17 – Distributions of Non-cash Assets to Owners, mandatoryfor annual periods beginning on or after 1 July 2009;IFRIC 18 – Transfers of Assets from Customers, mandatory forannual periods beginning on or after 1 July 2009;Amendment to IFRS 2 – Share-based Payment: Group Cash-settledShare-based Payment Transactions, mandatory for annual periodsbeginning on or after 1 January 2010;Annual improvements to IFRSs (16 April 2009), most of whichare mandatory for annual periods beginning on or after 1 January2010. The improvement to IFRS 8 eliminating the requirement todisclose assets by operating segment was early adopted by theGroup in 2009.Apart from IFRS 3R and IAS 27R, which are applicable prospectively,these new standards and interpretations had no material effect onthe consolidated financial statements.The impacts of IFRS 3R Business Combinations and IAS 27RConsolidated and Separate Financial Statements are described in thesummary of significant accounting policies (see note 1.3).Note 1.1.2. Standards and interpretationspublished but not yet mandatoryStandards and interpretations adoptedby the European Union on the reporting date■■■■IFRIC 19 – Extinguishing Financial Liabilities with Equity Instruments,mandatory for annual periods beginning on or after 1 July 2010;Amendment to IAS 32 – Classification of Rights Issues, mandatoryfor annual periods beginning on or after 1 February 2010;Amendment to IFRIC 14 – The Limit on a Defined Benefit Asset,Minimum Funding Requirements and their Interaction, mandatoryfor annual periods beginning on or after 1 January 2011;IAS 24 revised – Related Party Disclosures, mandatory for annualperiods beginning on or after 1 January 2011.The Group has not early adopted any of these new standards orinterpretations. Their application is not expected to have a materialimpact on the consolidated financial statements.62 Casino Group | Registration Document 2010