Sec Form 20-F - Registration Statement/annual Report/transition Report/shell Company Report Page 62
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69as a reconciliation of the equity section, as a restated balance sheet, or in any similar format that clearly
presents the differences in the amounts.
(iii)
For each period for which an income statement is presented and required to be reconciled to generally
accepted accounting principles in the United States, provide either a statement of cash flows prepared
in accordance with generally accepted accounting principles in the United States or with International
Accounting Standard No. 7, as amended in October 1992; or furnish in a note to the financial statements
a quantified description of the material differences between cash or funds flows reported in the primary
financial statements and cash flows that would be reported in a statement of cash flows prepared in
accordance with accounting principles generally accepted in the United States.
(iv)
(A)
Issuers that prepare their financial statements on a basis of accounting other than U.S. generally
accepted accounting principles in a reporting currency that comprehensively includes the effects
of price level changes in its primary financial statements using the historical cost/constant
currency or current cost approach, may omit the disclosures specified by paragraphs (c)(2)(i),
(c)(2)(ii), and (c)(2)(iii) of this Item relating to effects of price level changes. The financial
statements should describe the basis of presentation, and that such effects have not been
included in the reconciliation.
(B)
Issuers that prepare their financial statements on a basis of accounting other than U.S. generally
accepted accounting principles that translates amounts in financial statements stated in a
currency of a hyperinflationary economy into the issuer’s reporting currency in accordance with
International Accounting Standards No. 21, “The Effects of Changes in Foreign Exchange Rates,”
as amended in 1993, using the historical cost/constant currency approach, may omit the
disclosures specified by paragraphs (c)(2)(i), (c)(2)(ii), and (c)(2)(iii) of this Item relating to the
effects of the different method of accounting for an entity in a hyperinflationary environment.
(C)
If the method of accounting for an operation in a hyperinflationary economy complies with IAS
21, a statement to that effect must be included in the financial statements. The reconciliation shall
state that such amounts presented comply with Item 17 of Form 20-F and are different from that
required by U.S. generally accepted accounting principles.
(v)
Issuers that prepare financial statements on a basis of accounting other than U.S. generally accepted
accounting principles that are furnished for a business acquired or to be acquired pursuant to §210.305
of this chapter may omit the disclosures specified by paragraphs (c)(2)(i), (c)(2)(ii) and (c)(2)(iii) of this
Item if the conditions specified in the definition of a significant subsidiary in § 210.1-02(v) of this chapter
do not exceed 30 percent. Issuers that prepare financial statements using IFRS as issued by the IASB
that are furnished pursuant to §210.3-05 may omit the disclosures specified by paragraphs (c)(2)(i),
(c)(2)(ii), and (c)(2)(iii) of this Item regardless of the size of the business acquired or to be acquired.
(vi)
Issuers that prepare financial statements on a basis of accounting other than U.S. generally accepted
accounting principles that are furnished for a less-than-majority-owned investee pursuant to §210.309
of this chapter may omit the disclosures specified by paragraphs (c)(2)(i), (c)(2)(ii) and (c)(2)(iii) of this
Item if the first and third conditions specified in the definition of a significant subsidiary in §210.102(v)
of this chapter do not exceed 30 percent. Issuers that prepare financial statements using IFRS as issued
by the IASB that are furnished pursuant to §210.3-09 may omit the disclosures specified by paragraphs
(c)(2)(i), (c)(2)(ii), and (c)(2)(iii) of this Item regardless of the size of the investee.
(vii) Issuers that prepare financial statements on a basis of accounting other than U.S. generally accepted
accounting principles that allows proportionate consolidation for investments in joint ventures that
would be accounted for under the equity method pursuant to U.S. generally accepted accounting
principles may omit differences in classification or display that result from using proportionate
consolidation in the reconciliation to U.S. generally accepted accounting principles specified by
paragraphs (c)(2)(i), (c)(2)(ii) and (c)(2)(iii) of this Item; Provided, the joint venture is an operating entity,
the significant financial operating policies of which are, by contractual arrangement, jointly controlled
62
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