Page 18 - MEDIASET ESPAÑA / 2013. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED DECEMBER 31, 2013
(Thousands of euros)
The total effect on the Company’s equity of these changes amounted to 97,318 thousand euros corresponding to prior
years.These changes have no significant impact on nor are they reflected in the consolidated financial statements of the
Group of which Mediaset España Comunicación, S.A. is parent.
Changes made to the comparative figures of each of the items in the documents comprising the financial statements
are as follows:s:
• Balance sheet at December 31, 2012
(Thousands of euros) Debit/(Credit)
Reserves – Decrease 97,318
Deferred tax assets (Note 15.2) – Decrease (97,318)
• Statement of changes in equity for the year ended December 31, 2012
(Thousands of euros) Debit/(Credit)
Reserves Profit (loss) from
prior years
Profit for
the year Total
Adjusted balance at January 1, 2012 97,318 - - 97,318
Movements in 2012 - - - -
Adjusted balance at January 1, 2013 97,318 - - 97,318
Preparation of the consolidated financial statements
The Company, as the parent of a corporate group in accordance with mercantile law and given that it is a listed company,
is obliged to present consolidated financial statements in accordance with the International Accounting Standards as
approved by the European Union. Accordingly, the corresponding consolidated financial statements were prepared
together with these individual financial statements. Consolidated equity and net profit for the year ended December 31,
2013 totaled 1,419,141 thousand euros and 4,161 thousand euros, respectively.
Critical issues concerning the assessment of uncertainty
The preparation of the Company’s annual financial statements requires the Directors to make judgments, estimates
and assumptions which affect the application of accounting principles and the balances of assets, liabilities, income and
expenses, and the disclosure of contingent assets and liabilities at the reporting date.These estimates and assumptions
are based on historical experience and various other factors believed to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying amount of the assets and liabilities that are not
readily apparent from other sources.Those estimates and assumptions are reviewed on an ongoing basis.The effects of
the reviews of the accounting estimates are recognized in the period during which they are carried out, if they relate
solely to that period, or in the period reviewed and future periods if the review affects both current and future periods.
Nevertheless, the uncertainty inherent in the estimates and assumptions may lead to results that necessitate adjusting
the carrying values of the assets and liabilities affected in the future.
Aside from the general process of making systematic and periodically revising estimates, the directors made certain value
judgments on issues that have a special effect on the financial statements.