PDF (3.77 Mo) - Le Crédit Agricole

Crédit Agricole S.A.Update of the 2011 registration document - A03Notes to the interim condensed consolidated financial statementsNote 1 Group accounting principles and methods, assessments and estimatesThe condensed interim consolidated financial statements of Crédit Agricole S.A. for the period ended 30June 2012 were prepared and are presented in accordance with IAS 34 (Interim financial reporting), whichdefines the minimum information content and identifies the accounting and measurement principles thatmust be applied in an interim financial report.The standards and interpretations used to prepare the interim consolidated financial statements are identicalto those used by the Crédit Agricole S.A. group in preparing the consolidated financial statements for theyear ended 31 December 2011. Those statements were prepared, pursuant to EC regulation 1606/2002, inaccordance with IASs, IFRSs and IFRIC interpretations as adopted by the European Union ("carve out"version), and so some provisions regarding the application of IAS 39 in relation to macro-hedging were notapplied.These standards and interpretations have been supplemented by IFRSs adopted by the European Union at30 June 2012 and of which application is mandatory for the first time in 2012. These standards andinterpretations are as follows:Standards, Amendments and InterpretationsAmendment of IFRS 7 relating to additional disclosures abouttransfers of financial assetsEU publicationdateDate applicationbecomesmandatory:periods beginningon or after22 November 2011(EU 1205/2011) 1 January 2012The application of these new provisions had no material impact on the interim condensed consolidatedfinancial statements at 30 June 2012.Where the early application of standards and interpretations is optional in a given period, the Group has notselected this option unless otherwise mentioned.The standards that can be applied early are as follows:Standards, Amendments and InterpretationsAmendment of IAS 1 relating to the presentation of otherelements of comprehensive income and the new breakdown ofother capitalAmendment of IAS 19 relating to pension liabilities (definedbenefitplans)EU publicationdateDate applicationbecomesmandatory: periodsbeginning on orafter5 June 2012(EU 475/2012) 1 July 20125 June 2012(EU 475/2012) 1 January 2013Crédit Agricole S.A. does not expect the application of these provisions to have a material effect on its netincome or shareholders' equity.Indeed:- The amendment of IAS 1 requires a distinction between recyclable and non-recyclable gains andlosses taken directly to equity.- The amendment to IAS 19 requires actuarial gains and losses relating to defined-benefit plans to berecorded under other comprehensive income. This method is already applied by the Group (optionalin the current version of IAS 19).As standards and interpretations that have been published by the IASB but not yet been adopted by theEuropean Union will become mandatory only from the date of such adoption, the Group has not appliedthem as of 30 June 2012.Page 135 sur 237