Standards, interpretations, and amendments issued, but not yet to be applied
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Pronouncement |
Title |
To be applied by Deutsche Telekom from |
Changes |
Expected impact on the presentation of Deutsche Telekom’s results of operations and financial position |
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IFRSs endorsed by the EU |
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IFRS 17 |
Insurance Contracts |
Jan. 1, 2023 |
IFRS 17 governs the accounting for insurance contracts and replaces IFRS 4. |
No material impact. |
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Amendments to IFRS 17 |
Insurance Contracts |
Jan. 1, 2023 |
The initial application of IFRS 17 is postponed until January 1, 2023. The fundamental principles under IFRS 17 remain unaffected. The amendments to the standard, which refer to specific topics, are aimed at helping entities implement the standard and, at the same time, avoiding a significant loss of useful information. The option for companies to delay application of IFRS 9 until the initial application of IFRS 17 has also been extended until January 1, 2023. |
No material impact. |
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Amendments to IFRS 17 |
Initial Application of IFRS 17 and IFRS 9 – Comparative Information |
Jan. 1, 2023 |
Supplementary transition option relating to comparatives in the first reporting year, which allows for the option of a different classification pursuant to IFRS 9 (classification overlay) for the comparative periods in the year of first-time application of both standards. In addition, for financial assets that relate to insurance contracts, existing classification options under IFRS 9 can be exercised again if IFRS 9 was applied prior to the first-time application of IFRS 17. |
No impact. |
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Amendments to IAS 1 and IFRS Practice Statement 2 |
Presentation of Financial Statements |
Jan. 1, 2023 |
The amendments to IAS 1 will require entities to disclose their material accounting policies in the future rather than their significant accounting policies. The amendments to IFRS Practice Statement 2 “Making Materiality Judgements” contain guidance on applying materiality judgments to accounting policy disclosures. |
No material impact. |
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Amendments to IAS 8 |
Definition of Accounting Estimates |
Jan. 1, 2023 |
The amendments relate to the definition of accounting estimates. It is clarified how entities can distinguish between changes to accounting policies and to accounting estimates. |
No material impact. |
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Amendments to IAS 12 |
Deferred Tax related to Assets and Liabilities arising from a Single Transaction |
Jan. 1, 2023 |
IAS 12 provides for exemptions to the recognition of deferred taxes in specific cases. It was previously unclear as to whether the initial recognition exemptions also apply for transactions in which the initial recognition of an asset and a liability gives rise to equal taxable and deductible temporary differences. The exemptions apply specifically to leases and restoration obligations. The IASB now clarifies that the exemption relating to the recognition of deferred taxes is not applicable in the aforementioned configuration. |
No material impact. |
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IFRSs not yet endorsed by the EUa |
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Amendments to IAS 1 |
Classification of Liabilities as Current or Non-current |
Jan. 1, 2024 |
The amendments clarify that the classification of liabilities as current or non-current should be based on rights that are in existence at the end of the reporting period. The amendment also clarifies the definition of settlement of a liability. |
No material impact. |
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Amendments to IAS 1 |
Non-current Liabilities with Covenants |
Jan. 1, 2024 |
The amendments clarify that covenants in loan agreements with which an entity is required to comply only after the reporting date do not affect the classification of a liability on the reporting date as current or non-current. By contrast, covenants with which an entity must comply on or before the reporting date affect the classification. |
No material impact expected. |
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Amendments to IFRS 16 |
Lease Liability in a Sale and Leaseback |
Jan. 1, 2024 |
The amendments require a seller-lessee to subsequently measure lease liabilities arising from a sale and leaseback transaction in a way that it does not recognize any amount of the gain or loss that relates to the right of use it retains. The requirements for initial measurement of the right-of-use asset have not been amended. By contrast, the change to the subsequent measurement of the lease liability requires variable lease payments that do not depend on an index or interest rate to also be considered in the initial measurement of the lease liability from a sale and leaseback transaction. |
No material impact expected. |
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