CARREFOUR - Registration document - 2015 annual financial report

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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Basis of preparation of the Consolidated Note 1
Financial Statements
The Consolidated Financial Statements for the year ended The Consolidated Financial Statements for the year ended
December 31, 2015 were approved for publication by the Board of December 31, 2015 comprise the Financial Statements of the
Directors on March 9, 2016. They will be submitted to shareholders for Company and its subsidiaries (together the "Group") and the Group’s
final approval at the Annual General Meeting. share of the profits and losses and net assets of associates and joint
ventures accounted for by the equity method. The presentation
Carrefour (the "Company") is domiciled in France.
currency of the Consolidated Financial Statements is the euro, which is
the Company’s functional currency.
Statement of compliance 1.1
In accordance with European Regulation (EC) 1606/2002 dated All of the standards and interpretations adopted for use in the
July 19, 2002, the 2015 Consolidated Financial Statements have been European Union are available on the European Commission’s website,
prepared in compliance with the international accounting standards
adopted for use in the European Union as of December 31, 2015 and
At December 31, 2015, the standards and interpretations adopted for
applicable at that date, with 2014 comparative information prepared
use in the European Union were the same as those published by the
using the same standards.
IASB and applicable at that date, except for IAS 39 – Financial
International accounting standards comprise International Financial Instruments: Recognition and Measurement , which was only partly
Reporting Standards (IFRSs), International Accounting Standards adopted. The unadopted provisions of IAS 39 had no impact on the
(IASs), International Financial Reporting Standards Interpretation Group’s Consolidated Financial Statements.
Committee (IFRIC) Interpretations and Standing Interpretations
Committee (SIC) Interpretations.
Changes of method 1.2
The accounting and calculation methods used to prepare the 2015 amendments to IAS 16/IAS 38 – Clarification of Acceptable
●
Consolidated Financial Statements were the same as those used in Methods of Depreciation and Amortisation (applicable in annual
2014 except for the changes resulting from the following periods beginning on or after January 1, 2016);
amendments, which were applicable as of January 1, 2015 and were IFRS Annual Improvements 2012-2014 (applicable in annual
●
not early adopted: periods beginning on or after January 1, 2016).
IFRS Annual Improvements 2011-2013.
● Not yet adopted for use in the European Union:
Application of these amendments had no material impact on the IFRS 9 – Financial Instruments and amendments to IFRS 9 –
●
Group’s published Consolidated Financial Statements. IFRIC 21 – Financial Instruments: Hedge Accounting and amendments to
Levies, which was also applicable as of January 1, 2015, was early IFRS 7 and IAS 39 (applicable according to the IASB in annual
adopted in 2014. periods beginning on or after January 1, 2018). IFRS 9, which
describes the principles to be applied for the classification and The Group decided not to early adopt the following standards and
measurement of financial assets and liabilities, replaces IAS 39. The
interpretations that were not applicable as of January 1, 2015:
new standard's impact on the amount and timing of the recognition
Adopted for use in the European Union: of financial assets and liabilities and on profit cannot yet be
IFRS Annual Improvements 2010-2012 (applicable in annual
● reasonably estimated;
periods beginning on or after February 1, 2015); IFRS 15 – Revenues from Contracts with Customers (applicable
●
amendments to IAS 19 – Defined Benefit Plans: Employee
● according to the IASB in accounting periods beginning on or after
Contributions (applicable in annual periods beginning on or after January 1, 2018). This standard, which replaces IAS 18 – Revenues
February 1, 2015); and IAS 11 – Construction Contracts, may have an impact on the
amount and timing of revenue recognition by the Group. This
amendments to IAS 1 – Disclosure Initiative (applicable in annual
●
impact cannot yet be reasonably estimated;
periods beginning on or after January 1, 2016);
IFRS 16 – Leases (applicable according to the IASB in annual periods
● amendments to IFRS 11 – Acquisition of an Interest in a Joint
●
beginning on or after January 1, 2019). This standard, which
Operation (applicable in annual periods beginning on or after
replaces IAS 17, sets out the principles for recognizing leases and
January 1, 2016);
brings most leases on-balance sheet for lessees under a single
model, eliminating the distinction between operating and finance
leases. Its impact cannot yet be reasonably estimated;
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