The condensed Group interim financial statements of Wincor Nixdorf Aktiengesellschaft (in the following “Wincor Nixdorf AG”) have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the European Union.
The consolidation, accounting and valuation principles applied to the condensed Group interim financial statements are generally based on the same consolidation, accounting and valuation principles used in the Group financial statements for fiscal 2010/2011. The applied principles of accounting and valuation are described in detail in the Notes to the Group financial statements as of September 30, 2011.
From fiscal 2011/2012 the following standards and amendments are applicable for the first time:
- IAS 24 revised “Related Party Disclosures” and amendments to IFRS 8 “Operating Segments” (to be applied for periods beginning on or after January 1, 2011)
- Amendments to IFRIC 14 “Prepayments of a Minimum Funding Requirement” (to be applied for periods beginning on or after January 1, 2011)
- Amendments to IFRS 7 “Financial Instruments: Disclosures – Transfers of Financial Assets” (to be applied for periods beginning on or after July 1, 2011)
The first-time application of standards and amendments had no material effect on the condensed Group interim financial statements of Wincor Nixdorf AG as of December 31, 2011.