Sec Form 20-F - Registration Statement/annual Report/transition Report/shell Company Report Page 63
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69by all parties having an equity interest in the entity. Financial statements that are presented using
proportionate consolidation must provide summarized balance sheet and income statement information
using the captions specified in §210.1-02(aa) of this chapter and summarized cash flow information
resulting from operating, financing and investing activities relating to its pro rata interest in the joint
venture.
Instructions:
1.
If the variations quantified pursuant to paragraph (c) are significant, the registrant should consider presenting them
on the face of the financial statements.
2.
Earnings per share computed according to generally accepted accounting principles in the United States shall be
presented if materially different from the earnings per share otherwise presented.
3.
For its fiscal years ending before December 15, 2009, if the registrant presents its financial statements according
to generally accepted accounting principles in the United States except for SFAS No. 131 and if it furnishes the
information relating to categories of activity required by Items 4.B.1. and 4.B.2. of this Form, then such
financial statements will be considered to comply with this Item, even if the auditor’s report is qualified for
noncompliance with SFAS No. 131. Such report and financial statements, however, must comply with all other
applicable requirements.
4.
If the cash flows statement prepared under the basis of accounting used in the primary financial statements complies
with International Accounting Standard No. 7 or U.S. generally accepted accounting principles, a statement to this
effect must be included in the financial statements or the accountant’s report. If the cash flows statement in the
primary financial statements is prepared in accordance with either U.S. generally accepted accounting principles
or International Accounting Standard No. 7 but such presentation departs from the comprehensive body of
accounting principles otherwise followed in the financial statements, the reference to the departure in the
accountant’s report must identify the body of accounting standards used in preparing the cash flow statement. If
a supplemental cash flows statement that complies with either International Accounting Standards or U.S. generally
accepted accounting principles is furnished in a note to the financial statements, the body of accounting standards
used in preparing the statement must be indicated. The basis of presentation must be consistent for all periods.
5.
For purposes of this Item, a hyperinflationary economy is one that has cumulative inflation of approximately 100%
or more over the most recent three year period.
Special Instruction for Certain European Issuers:
An issuer incorporated in a Member State of the European Union that has complied with the carve out to IAS 39
“Financial Instruments: Recognition and Measurement,” as adopted by the European Union, in financial statements previously
filed with the Commission, may file financial statements for its first two financial years that end after November 15, 2007 without
reconciling to U.S. GAAP if that issuer’s financial statements otherwise comply with IFRS as issued by the IASB and the issuer
provides an audited reconciliation to IFRS as issued by the IASB. This reconciliation to IFRS as issued by the IASB is to
contain information relating to financial statement line items and footnote disclosure based on full compliance with IFRS as
issued by the IASB, and is to be prepared and disclosed in the same manner that an issuer would provide a reconciliation to
U.S. GAAP, following the requirements in Item 17(c)(2). All financial statements of such an issuer for periods prior to the
financial year that ends after November 15, 2007 must continue to be reconciled to U.S. GAAP. For financial years following the
63
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