SP Group A/S presents the annual report in accordance with IFRS. See the annual report for 2017, Note 1.
Changes to accounting policies
Effective from 1 January 2018, SP Group A/S has implemented the following new or amended standards and interpretations:
• IFRS 9 Financial Instruments
• IFRS 15 Revenue from Contracts with Customers
• Amendments to IFRS 2 regarding classification and measurement of share-based payment
• Amendments to IAS 40 regarding transfers to or from investment properties
• IFRIC 22 regarding foreign currency transactions and advance considerations
• Parts of Annual Improvements to IFRSs 2014-2016
In Annual Improvements to IFRSs 2014-2016, the remaining provisions regarding IFRS 1 and IAS 28 come into force as from 1 January 2018.
Only IFRS 9 and IFRS 15 have affected recognition and measurement in the annual report.
The effect of IFRS 9 and IFRS 15 on recognition and measurement is shown later. The effect on results and diluted earnings per share is only immaterial, and the cash flow statement is not affected. Moreover, the effect on the balance sheet is immaterial, and consequently, no third balance sheet (opening balance sheet in the comparative year) is presented in the primary balance sheets.