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CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)
2.3 Standards issued but not yet effective
The Group has not adopted the following standards and interpretations that have been issued but
not yet effective:
Description
Effective for annual periods
beginning on or after
Amendments to FRS 16 and FRS 41
Agriculture – Bearer Plants
1 January 2016
Amendments to FRS 27
Equity Method in Separate
Financial Statements
1 January 2016
Amendments to FRS 16 and FRS 38
Clarification of Acceptable
Methods of Depreciation and Amortisation
1 January 2016
Amendments to FRS 111
Accounting for Acquisitions of
Interests in Joint Operations
1 January 2016
Improvements to FRSs (November 2014)
(a) Amendments to FRS 105
Non-current Assets Held for
Sale and Discontinued Operations
1 January 2016
(b) Amendments to FRS 107
Financial Instruments: Disclosures
1 January 2016
(c) Amendments to FRS 19
Employee Benefits
1 January 2016
(d) Amendments to FRS 34
Interim Financial Reporting
1 January 2016
Amendments to FRS 110 and FRS 28
Sale or Contribution of
Assets between an Investor and its Associate or Joint Venture
1 January 2016
Amendments to FRS 1
Disclosure Initiative
1 January 2016
Amendments to FRS 110, FRS 112 and FRS 28
Investment Entities:
Applying the Consolidation Exception
1 January 2016
FRS 115
Revenue from Contracts with Customers
1 January 2017
FRS 109
Financial Instruments
1 January 2018
Except for FRS 115 and FRS 109, the directors expect that the adoption of the other standards and
interpretations above will have no material impact on the financial statements in the period of initial
application. The nature of the impending changes in accounting policy on adoption of FRS 115 and
FRS 109 are described below.
