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- When the intangible asset is expressed as a measure of revenue.
- When it can be demonstrated that revenue and the consumption of the economic
benefits of the intangible asset are highly correlated.
In these circumstances, an amortisation method that is based on the revenue that is
expected to be generated by an intangible asset may be appropriate.
The Group is analysing the possible impact of the entry into force of these amendments
and foreseeably they will not have a significant impact on the consolidated financial
statements
Amendments to IFRS 11, Accounting for Acquisitions of Interests in Joint
Operations
The amendments apply to the acquisition of both the initial interest and additional
interests in a joint operation in which the activity of the joint operation constitutes a
business. The relevant principles under IFRS 3, Business Combinations will be applied in
these cases.
These transactions are subject to the same disclosures as those required by IFRS 3,
Business Combinations.
The Group does not consider that application of these amendments will have a significant
impact on the consolidated financial statements.
Amendments to IFRS 10 and IAS 28, Sale or Contribution of Assets between an
Investor and its Associate or Joint Venture
The amendments establish that if control of a subsidiary constituting a business is lost but
significant influence or joint control is retained, the gain or loss is recognised for the total
amount. However, in the case of assets, the gain or loss shall be recognised only in
proportion to the percentage of ownership of unrelated third parties in the joint venture or
associate.
The entry into force of these amendments will not have a significant impact for the Group.
Responsibility for the information and use of estimates
The information contained in these consolidated financial statements is the responsibility
of the Parent's directors.
In the Group's consolidated financial statements for 2013 estimates were occasionally
made in order to quantify certain of the assets, liabilities, income, expenses and
obligations reported herein.
These estimates relate basically to the following:
The impairment losses on certain assets (see Notes 5, 6, 9 and 10),
The useful life of the property, plant and equipment and intangible assets (see Notes
3-c and 3-d).