AL-SALAM REIT ANNUAL REPORT 2017

130 AL-SALĀM REIT ANNUAL REPORT 2017 Amendments to MFRS 107 Disclosure Initiatives Amendments to MFRS 112 Recognition of Deferred Tax Assets for Unrealised Losses Amendments to MFRSs Annual Improvements to MFRSs 2014 - 2016 Cycle The adoption of these revised Standards and Amendments have not affected the amounts reported in the financial statements of the Group and of the Fund except as discussed below: Amendments to MFRS 107 Disclosure Initiatives The Fund has applied these amendments for the first time in the current year. The amendments require an entity to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both cash and non-cash changes. The Fund’s liabilities arising from financing activities consist of borrowings and amount due to related companies. A reconciliation between the opening and closing balances of these items is provided in Note 16. Consistent with the transition provisions of the amendments, the Fund has not disclosed comparative information for the prior period. Apart from the additional disclosure in Note 16, the application of these amendments has had no impact to the Fund’s financial statements. 2.2 Standards, Amendments to MFRSs and Issues Committee Interpretations (“IC Intrepretation”) in issue but not yet effective At the date of the authorisation for issue of these financial statements, the new and revised Standards and Amendments which were in issue but not yet effective and not early adopted by the Fund are as listed below: MFRS 9 Financial Instruments 1 MFRS 15 Revenue from Contract Customers 1 MFRS 16 Leases 2 MFRS 17 Insurance Contracts 3 Amendments to MFRS 2 Classification and Measurement of Share-based Payment Transactions 1 Amendments to MFRS 4 Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts 1 Amendments to MFRS 9 Prepayment Features with Negative Compensation 2 Amendments to MFRS128 Long-term Interests in Associates and Joint Ventures 2 Amendments to MFRS140 Transfers of Investment Property 1 Amendments to MFRSs Annual Improvements to MFRSs 2014 - 2016 Cycle 1 Amendments to MFRSs Annual Improvements to MFRSs 2015 - 2017 Cycle 3 Amendments to MFRS 10 and MFRS 128 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 4 IC Interpretation 22 Foreign Currency Transactions and Advance Consideration 1 IC Interpretation 23 Uncertainty over Income Tax Payments 2 1 Effective for annual periods beginning on or after 1 January 2018 2 Effective for annual periods beginning on or after 1 January 2019 3 Effective for annual periods beginning on or after 1 January 2021 4 Effective date deferred to a date to be announced by MASB NOTES TO THE FINANCIAL STATEMENTS - CONT’D