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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
2. BASIS OF PRESENTATIONAND COMPARABILITY OF THE
CONSOLIDATED FINANCIAL STATEMENTS
2.1. Fair presentation and conformity with International Financial
Reporting Standards
The Group’s consolidated financial statements for 2015 were formally prepared:
• By the directors, at the Board of Directors Meeting held on February 24, 2016.
• In accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union, in
conformity with Regulation (EC) No 1606/2002 of the European Parliament and of the Council.
The consolidated financial statements were also prepared considering the following:
• All the accounting principles and standards, as well as the measurement bases which are of mandatory applica-
tion which have a significant impact on the consolidated financial statements, as well as permitted alternatives
and which are specified in the accompany notes thereto.
• The consolidated financial statements were prepared on a cost basis, except for derivatives and available-for-sale
financial assets, which have been measured at fair value.
• Therefore, these financial statements give a true and fair view of the Group’s consolidated equity and consoli-
dated financial position at December 31, 2015, as well as the results of its operations, changes in consolidated
equity and consolidated cash flows in the year then ended.
• On the basis of the accounting records kept by the Company and by the other Group companies.
The company is the parent company of a Group and in accordance with International Financial Reporting Standards
adopted by the European Union it is required to prepare a set of consolidated financial statements under IFRS-EU as
it is a listed group.
Since the accounting policies and measurement bases used in preparing the Group’s consolidated financial statements
for 2015 and 2014 (IFRS-EU) are not exactly the same as those used by the Group companies (local standards), the
required adjustments and reclassifications were made on consolidation to unify the policies and methods used and to
make them compliant with the International Financial Reporting Standards adopted by the European Union (IFRS-EU).
The 2015 consolidated financial statements of the Group and the 2015 financial statements of the Group companies
have not yet been approved by their shareholders at the respective annual general meetings; they are expected to be
approved without modification.
The statement of comprehensive income is presented in two statements; one which presents the components of
income (Separate Income Statement) and a second statement which presents the components of comprehensive
income (Statement of Comprehensive Income).
The consolidated separate income statement is presented on the basis of the nature of expenses.
The consolidated cash flow statement is presented using the indirect method.
At the date of authorization for issue of these consolidated financial statements, the Group had applied all the mandatory
IFRSs and interpretations adopted by the European Union (IFRS-EU) and in force for annual periods beginning on or
after January 1, 2015.