New and amended accounting policies
Changes in accounting policies
The company adopted the following relevant amendments to International Financial Reporting Standards which are mandatory for the first time for the financial year beginning 1 January 2022:
- Amendments to IAS 16 Property, Plant and Equipment: Proceeds before Intended Use
- Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets: Onerous Contracts – Cost of Fulfilling a Contract
- Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards: Subsidiary as a First-time Adopter
- Amendments to IFRS 3 Business Combinations: Reference to the Conceptual Framework
- Amendments to IFRS 9 Financial Instruments: Fees in the ‘10 per cent' Test for Derecognition of Financial Liabilities
The above-mentioned amendments did not have a significant impact on the financial position, results of operations or cash flows of the Zurich Airport Group for financial year 2022.
Introduction of new standards in 2023 and later
The following new or amended standards and interpretations issued by the end of 2022 and relevant to the company are not yet effective and were not applied early in these consolidated financial statements.
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Amendments to standards and interpretations |
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|
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Effective date |
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Planned application by the Zurich Airport Group |
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Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies |
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* |
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1 January 2023 |
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Financial year 2023 |
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Amendments to IAS 8: Definition of Accounting Estimates |
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* |
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1 January 2023 |
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Financial year 2023 |
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Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction |
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* |
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1 January 2023 |
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Financial year 2023 |
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Amendments to IAS 1: Classification of Liabilities as Current or Non-current |
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* |
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1 January 2024 |
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Financial year 2024 |
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Amendments to IFRS 16: Lease Liability in a Sale and Leaseback |
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* |
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1 January 2024 |
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Financial year 2024 |
* No, or no significant, impact is expected on the consolidated financial statements of the Zurich Airport Group.
