KINGSMEN CREATIVES LTD
ANNUAL REPORT
2014
95
Notes to the Financial Statements
31 December 2014
38. Future changes in financial reporting standards
The following new or revised FRS that have been issued will be effective in future. The directors of the Company
expect that the adoption of the new or revised standards is not expected to result in material adjustments to the
financial position, results of operations and cash flows in the period of initial application.
FRS No.
Title
Effective date
for periods
beginning on
or after
FRS 19
Amendments to FRS 19: Defined Benefit Plans:
Employee Contributions
1 July 2014
Various
Improvements to FRSs (Issued in January 2014)
Relating to
FRS 102 Share-based Payment
FRS 103 Business Combinations
FRS 108 Operating Segments
FRS 113 Fair Value Measurement
FRS 16 Property, Plant and Equipment
FRS 24 Related Party Disclosures
FRS 38 Intangible Assets
1 July 2014
Various
Improvements to FRSs (Issued in February 2014)
Relating to
FRS 103 Business Combinations
FRS 113 Fair Value Measurement
FRS 40 Investment Property
1 July 2014
FRS 114
Regulatory Deferral Accounts
1 January 2016
FRS 27
Amendments to FRS 27: Equity Method in Separate
Financial Statements
1 January 2016
FRS 16 and FRS 38
Amendments to FRS 16 and FRS 38: Clarification of
Acceptable Methods of Depreciation and
Amortisation
1 January 2016
FRS 16 and FRS 41
Amendments to FRS 16 and FRS 41: Agriculture:
Bearer Plants
1 January 2016
FRS 111
Amendments to FRS 111: Accounting for Acquisitions
of Interests in Joint Operations
1 January 2016
FRS 115
Revenue from Contracts with Customers
Illustrative Examples
1 January 2017
FRS 110 and FRS 28
Amendments to FRS 110 and FRS 28: Sale or
Contribution of Assets between an Investor and
its Associate or Joint Venture
1 January 2016
Various
Improvements to FRSs (November 2014)
1 January 2016
FRS 109
Financial Instruments
Illustrative Examples
Implementation Guidance
Amendments to Guidance on Other Standards
1 January 2018
FRS 1
Amendments to FRS 1: Disclosure Initiative
1 January 2016
FRS 110, FRS 112 and FRS 28 Amendments to FRS 110, FRS 112 and FRS 28:
Investment Entities: Applying the Consolidation Exception
1 January 2016
