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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
Amendments to IFRS 10 and IAS 28 - Sale or contribution of assets between an investor and
associate or joint venture
The amendments deal with the conflicts between IFRS 10 and IAS 28 with regard to the treatment of loss of control
of a subsidiary which is sold or contributed to an associate or joint venture.The amendments clarify that the gains or
losses resulting from the sale or contribution of assets to a business (as defined in IFRS 3) between and investor and
its associate or joint venture must be recognized in their entirety. Nonetheless, any gain or loss arising from the sale or
contribution of assets which do not represent a company are only recognized to the extent that the investors’ interests
are not related to the associate or joint venture.The application of these amendments has been indefinitely postponed.
The Group does not expect these amendments to have an impact.
Improvements to IFRSs - the 2012 -2014 Cycle
These improvements become effective for years starting January 1, 2016 or after.They include the following amendments:
IFRS 7 Financial Instruments Disclosures
(i) Service contracts
The amendment clarifies that a services contract including remuneration may represent continuing involvement in
the transferred financial asset. An entity must determine the nature of the remuneration as well as the agreement
taking IFRS 7 into account regarding continuing involvement in order to determine the breakdowns to be made.
The determination of whether service agreements represent continuing involvement must be retroactive.However,
it is not necessary to include comparative information prior to the first year during which the entity applies this
amendment.
(ii) Applicability of the IFRS 7 amendments to the interim consolidated financial statements.The amendment clarifies
that condensed interim financial statements need not include additional breakdowns unless they represent a
significant change in the information included in the most recent financial statements.The amendment is applied
retroactively.
IAS 34 Interim Financial Reporting
The modification clarifies that the disclosures required in the interim financial information may also be included on
the interim financial statements, or that the interim financial information must include a cross reference as to where
the information may be found in the interim financial information (for example, the Management report). Information
available in the interim financial information must be made available to its users under the same conditions and at the
same time as the interim financial statements.The amendment is applied retroactively.
The Group does not expect this standard to have any effect.
Amendments to IAS 1 - Disclosure initiative
The amendments to IAS 1 - Presentation of Financial Statements, clarify its requirements, rather than making significant
modifications to it.They include:
• IAS 1 materiality requirements.
• The specific items on the separate income statement, the statement of other comprehensive income, and the
statement of financial position can be desegregated.
• Entities are allowed flexibility as regards the order in which they present their notes to the financial statements.
• The share of other comprehensive income of associates and joint ventures which are accounted for under the
equity method, the investment must be presented disclosing the related effect on a separate line, and classified
among items which should or should not subsequently be reclassified to the income statement.