Financial Reporting and Analysis Financial Reporting Problem BYP13-1 The shareholders' equity section for Corus Entertain- ment Inc. is shown in the consolidated balance sheet in Appendix A. You will also find data related to this problem in the notes to the financial statements. Instructions (a) How many classes of shares does Corus have? For each class of shares, specify how many shares are authorized and issued at August 31, 2014. (Hint: Refer to Note 15.) (b) Refer to Note 15 again. What are the rights of each class of shares? (c) Did Corus issue any additional shares in fiscal 2014? If so, specify how many were issued, for what dollar amount, and for what purpose. (d) What was the average per share amount of each class of Corus's shares at the end of fiscal 2014? (e) Did Corus declare any cash dividends in fiscal 2014? If yes, how much? (1) Corus's return on equity was calculated for fiscal 2014 in Illus- tration 13-8. Calculate the company's return on equity for fiscal 2013. Did this ratio improve or worsen from 2013 to 2014? APPENDIX A Specimen Financial Statements As a Bechter CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As at August 31, 2014 As at August 31, 2013 11.50 19.12 ASSETS Current 183,000 81 206 164 302 47,759 9,768 13,032 16.392 9.542 12.619 204704 310.070 217,394 Total current assets 29,044 47,630 43. 42.290 121,704 183.280 229.304 143,618 330,437 63,455 979 984 934 859 41 584 42 975 125.931 151.192 232.587 82 274 515,036 646.045 39.463 2.167.137 Booster Goodwin 30.161 520770 548 045 28.327 2.088 228 2.784 582 LIABILITIES AND SHAREHOLDERS' EQUITY Current Accounts payable and conued labi note Income a no 20 Provisionate 12 170,411 164,443 177,367 1.300 5,314 3.901 2322 175,725 168.384 180.992 Long term decho 0 One long term bites Deferred to note 20 14 874,251 171,793 252.687 538,906 93.241 145.713 518 258 97.588 145.310 SHAREHOLDERS' EQUITY 1,474,456 946,304 932148 Corted us 910,005 7,836 Acord the comprehensive income fossi note 16 To uty but to warhaiders betoon cartongest Total Shareholders' equity 967,330 8,385 313,361 3.767 937.183 7.221 256.517 1.663 1.200 574 18.259 (912 1.115,473 20.617 1,292,843 17,283 1,310,125 2,784,582 Gants regard 1.138.090 1,220,833 2.167 137 s 13 and 2 2.068.250 M UI Income and Comprehensive Income APPENDIA AS OLIDATED STATEMENTS OF INCON OREHENSIVE INCOME CONSOLID COMPREHE the years ended August 31. of Canadian of Canadan olors. emce per share amounts 2013 ies, general and administrative expensesinate 1 541.378 Orict cost of a ition and amortuation notes 5 and 6 rost expense note 18 4796 7343 46,72 [127184 6304 0.560 5,740 tense and goodwill impairment Inotos 9 and 10 peerretrancing inote 13) quisition integration and restructuring costs (notes 12 and 20 Ganon acquisition note 26) non sale of associated company note 26 One perse Incomel.net (note 19) come before income taxes ncome tax expense note 20) Net income for the period 200211 156,109 166.140 1506 150,408 5,761 Net Income attributable to: Shareholders Non-controlling interest $1.17 Earnings per share attributable to shareholders 156, 160 Basic Duted Net Income for the period 1.720 74 Other comprehensive income floasi.net of tax in 10 ems that may be reclassified subsequently to net income Oriod foreign currency translation a mont Unrated change in f u o vable for sale investments Unread change in fchow hedges Actuaria os non employee tre bonnets 6,854 S 156005 Comprehensive income for the period Comprehensive income attributable to Shareholders Non-controlling interest CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY Non- Total shareholders Share capital Contributed hote 15) surplus 937,183 7.221 Retained carrings 256.517 150.408 (2.188) 191,376) Accumulated other comprehensive Income foss) note 16 1.653 (74 2.188 Total equity attributable to shareholders 1.202.574 150,334 controlling interest 18.259 5.761 equity 1.220.833 156.096 (91,376 (6,737 (98,113) In thousands of Canadian dollars At August 31, 2013 Comprehensive income foss) Actuarial loss transfer Dividends declared Issuance of shares under stock option plan Issuance of shares under dividend reinvestment plan Share-based compensation expense At August 31, 2014 4.603 4,603 5465 (862) - 24,682 24,882 24.682 2.026 2.026 8,385 2,026 1,310,125 17,283 967,330 313,361 1.292,843 3 3,767 ,767 1 910,005 7,836 - (812) 3,081 1,115,473 162,976 20,617 5,854 ,136.000 168.830 198,445 150,895 616 184,452) (8.331) (84,452) 1 190,783) 1,155 2.200 (1.045) (1.045) 1 At August 31, 2012 Comprehensive income Actuarial gain transfer Dividends declared Issuance of shares under stock option plan Issuance of shares under dividend reinvestment plan Shares repurchased Share-based compensation expense Acquisition of non-controlling interest note 20) At August 31, 2013 See accompanying notes 26,731 (708) 1758 26,731 (1.484 26,731 11.464) - 1,588 1 - 1,586 1.586 1 - .221 (17.231) 256,517 937,183 (17.231) 1.202,574 (1.881) 18.250 7 1653 (19.112) 1,220,833 Consolidated Statements of Cash Flows APPEND CONSOLIDATED STATEMENTS OF CASH FLOWS 2013 156,109 185.749 24.06 83,000 207.699 19,809 5.638 3,336 26.812 5.134 1683 25.750 7.121 2.026 10279 14,099 31,916 250g 155.390 For the years ended August 31, In thousands of Canadian dollars OPERATING ACTIVITIES Net income for the period Add (deduct) non-cash oms: Depreciation and amortization (notes 5 and 6) Broadcast license and goodwill impairment notes 9 and 10) Amortization of program and fim rights intos 7 and 17) Amortization of film investments (notes 8 and 17) Deferred income taxes (note 20) Increase in purchase price obligation (note 26) Investment impairments notes 5, 8 and 19) Share-based compensation expense note 15) Imouted interest (note 18) Tangible benefit obligation (note 26) Debt refinancing (note 13) Gain on sale of associated company note 26) Gain on acquisition (note 26) Other Not change in non-cash working capital balonces related to operations note 24 Payment of program and film rights Net additions to fim investments Cash provided by operating activities INVESTING ACTIVITIES Additions to property, plant and equipment note 6 Business combinations note 2 Dividends from investment in joint ventures (note 3) Net cash fows for investments and intangibles Other Cash used in investing activities FINANCING ACTIVITIES Increase decrease in bank loans Issuance of notes moto 13) Redemption of notes note 13 Financing toes note 13) Istance of thorns under stock option plan Shares repurchased note 18) Didonds pald Dividends paid to non-controlling interes (127.884) 2.402 22.045 (225,935) (25.349) 194,477 114.3 6.768 (159.802 (46.074 156.729 (11,976) (497,393) (13.029) (11,493) 15,384) 10. 8 (10,855) (526,246) (13.670 333,243 (20.925 550.000 500.000 126,732 (587) (1.464) 156.606 6.331) Other (65,474) 16,737) (2.000) 202,000 (89.681) B1,268 11.SAS (10.727 0.991) Cash provided by used in financing activities change in hand cash or during the year cash and ch a rita begining of the year and cash equivalents, end of the year Cash and ca 02.068 19. 81.266 To A NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The sono Nbox A 1. CORPORATE INFORMATION Corus r imante Company is the Canadian communions and Cory. The Company incorporated under the Canadu Corps And Nong Sested on the Toronto Soo Bichange the CRB The Company's r ed of 1500 800 - Sugary Theory Gecessors 25 Bo ronto, OMA These concedendo aments include the m ore com e dor Day and convention stronofs n on world and the Concour on programerchandise o e produto and the production 2. BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE Specimen Financial Statements BUSINESS COMBINATIONS Board of Directors on October 2014 3. SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The correctamente perdonado contractors in Canada Goos, which is the many f or curry and we are rounded to enthousand when we oned Eacher toned by the Company is own unctional currency based on the primary economenon in which they are BASIS OF CONSOUCATION odnos The consolidated transament comprise the financial statements of the Company and is subidores, which are the ones which the Company has con coro when theory is ros t o v eure from t h w e ent and has the aby to attect those ou rough power theory. The non congest component of the Company's subsidies included in Subadares are un consolidated to the use of action, bong the date on with the Company ang control and continue to be consoled unto the date when such corto The t in of cori assessed her through she w o rld to b e board of directors, which may sgrificare judgment The racial of the company's sucres are prepared for the ware reporting periodas e Compong g r ccogpoles compar es transactions, edgars and from a company actors and chords are mad There e os con este sono tort in the w o rd for the Top Any corngartoon to be the recor d Sur changes to the t h e contingeret .dation where barca Recognition and their b sed as a short d REVENUE RECOGNITION achelor organ corso ry few A ctes are c over which the company has continence in conduces the power to partiopate in the france and operating pokey decisions of the investu oto j o Dolce we based on the preceding more bore d by the breastbonus hro oms oro gusti e conomice and Tel e comary me pros te Copy of Gowongan dicunt programma Toeg roby the c o re action and re come the bacon can and the Company does not an erroring manager involvemento che contro Comarces on contrare recorded as med en foregongo recognition condrons have been met Non- r a ces where ones we were con porodos commenced and colections , reture performance attore led with royalty advance for which in that come, revue recognis e d and record when the performance s tore we decurge date advances are detened and grad e s the performance b ons are charged GASH AND CASH EQUIVALENTS och pode The non med barboden t by changamoto PROPERTY, PLANT AND EQUIPMENT Notes to the Consolidated Financial Statements Selected Excerpts) APPENDOKA ercolor ros in concione Domowego BOROWING COSTS Bor d produced Arbonico per AD A10 GOCOWL AND INTANDOLE ASSETS APPENDIKA pod d o the che p ortion of conter Specimen Financial Statements PROVISIONS modification of testing and conditions of the cere ment of d e ed amount record to non conten t or the ne w s and red. is record in prostor money and especific to the owne d OD COUS Tarepected to bereme were the common spective of t he FINANCIAL INSTRUMENTS schement mornion gote Company's per met na brod en med singer w o rd to the valuation e r based on a controm pro vartistas dan active market. These s on techniques in some level of management and contre degree of which will condone prone tortor mandens com Franca ro oftor Financial m aar voo profit or los recordato Changes in our recogwe Other income in the con t ents of income wd comprehensione echy arendas Level Un c es at the measurement de Level 2 - Observation than convolt wes ted power o r AS A trec u ted is records to praction collect The wofer Uw ments (Selected Excerpts) APPENDIX A11 A12 APPENDIX A FARINGS PER SHURE Buscape the dang the w a ter of common w ang ung the you. The common of a persones w e re common shares standing during the rise to o u r common ware WOUD have been stand the power o n th e The defect of stock phon is ined using the t o ok method IMPARNENT OF LONG-UVED ASSETS A reporting Company song b o lding property plant and met Drogare and migh t goodwilanditang t orpolenta indicators of m en, such as an adverse change in un c ertain the may be impared for parent na m e comport e mount. The recover mortis med for and most recent gerech t e gynecordant of those from the which case is essed as part of the Douto which belong. An C o verable more is the higher of its for all costoso FVLCS) and its value in use the dem on the recove re in the moment entre e ls bodong.cted market promprom of comparable business pret voor on s , or a combination the reg management to the d urations The Company records impairment on tongved when the Company beves that the carrying ve may not be For Mouding wlan sessment is to where there is an indication that provide condim ents may no longer stor may have Geo t hes for impairment no longer p ermet des may be revered up to a maximum the carrying out of the cover s had not been recognized in December 2011, the Samended both $22. Franci s Po n d IFRS 7. Franc home Decor by mounted under the boutong tr and The f tenente Company year commencing Starter 1, 2013. The comparas de mad e ra d e There is no pacto create frumoase Specimen Financial Statements 4. ACCOUNTS RECEIVABLE Geodul ed for importavaly or mor e indication that may have Goodsalocale or group of Color Puro gbo win management mention which is not e n cerrament. The company conson impareri the recoverable amount of the CGU or group of Cous is less than the carrying amount Roter to note 10 torre was on the Company's o g to good S INVESTMENTS AND INTANGIBLES Broadcaster reviewed for impament y of more threquery there are dictions at pret may have occurred Broadcaste r located to a cou for the purposes of ma t ting The Company recordan mpamento c a rt of the Colorante care amount Rolor to note 10 torture on the Companya m ent sing for broadcasters The use of the intagits with free wich are more and property, plant and current recorded at least and only tested to moment events or changes in crustace ae an imporment may occured LEASES The dele tion of whether ananager or contar les based on the substance of the argument the incecond whether ent of the rangement is dependent on the use of a specificatore of the arrangement conveys to see where the company is the bes t was recorded under the lases are not on a rag-in sover the peod of expected to Oligations recorded under th e reduced by payments et of imputadores Operating a comments for wiche payments are records anepermente conected statements of income and comprave income, are recoged on a swine werthelem INTANGIBLES Hargire comprend of worl d and 6. PROPERTY, PLANT AND EQUIPMENT INVESTMENTS IN ASSOCIATES in the level of corror cetate Company has over magnet . rs own percentago n as well as the provision in the agreements The Company can cover the town ments which have been accounted for using the equity method and are included in investments in perts say corrected once Food tor is s tood an As proces e programm twork. This brand is the destination for Canedors e d to food and to weg e or whe n 30, 2013, the Company the douton de of food 7. PROGRAM AND FILM RINTS 100 Ulcerpts) APPENDOKA & FILM INVESTMENTS o The charge f todo 2014 Oro Negara sort of produ 15. We corded tr ade AS c ts 10. IMPAIRMENT TESTING Ate C n e red o ntact Orduty to done tows in 2013, were comment such as the ne e d any such indoo r and the sam e corony gured out with an intend m to y Forlog hed good tea c hing , whether the syndicate d The may come gu y The term of the two odwo compare the mount of the or Cu o the carrying the moti o PCS The coverable amounted on w e er star wgende o or grou n d goodwind es u cannot be formed to S t o tis The Company oth des August 31, 2015. The Com by 2023 er back a p act the n book d will be wortunge of tim e to be fully mond 9. BROADCAST LICENSES AND GOODWILL Broerend good or AA 31, o moterys or change in ce that my beared unge second and third g rofa 2014, te Company Cont r ols were for goodwill become and CUSCOUS V OUS of each or group of The preto count and growth a t the Corry for the purpose of its c ach of the following groups of Us in the following periods were on performed to condonercing Dren group of Customm age is gert . Sony to change An infobas ports in the precurs os ponts in the sa e cach year, or a decrease of sports in the growth ach i to perto the radio goodwill impairment est, would have multed in additional goodwi moment in the Radio segment of bow $1.000 and $8.000. Hotomaten dion broadcast one immers would The Company has completed its annual parment ting of goodwil and intangible for a 2014. There were no additional impamentos to be recorded as a result of the wing The Company for any indicators of whether previous impamentos Padded No comment les on broadcast foors were reversed The crying amounts of good and broadcast one located to ou and or group of C artout in the following tables the contenuto i to the co u nt and the n carrying amount, re carrying amount of the reduced choice as parents in the considered soments of the most out of you of C h angamot, an momentos grind The lo c ated to reduce the coming out of a good cated to the COU O gro u nd to Sport on Feb ofte gourt for the C C The inte CG Carnot be with down below the w o o determinat 11. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Orto for more Selected Excerpts) APPENDIXA A15 APPENDIXA The New Mo n g Theory he a rt. 17 14. OTHER LONG-TERM LIABILITIES Specimen Financial Statements 13. LONG-TERM DEST 15. SHARE CAPITAL AUTHORLD and w ord hom warto fry 2018. The o ther suche here to share on the Ag e on wong ISSUED AND OUTSTANDING Cases Non-Voting Sams under the Company Souto Pause w e No A 31.25 r Cost Person Prod Share outstandig 16. ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS) wide rare dorm Mancial Statements Selected Excerpts A PPENDIA A17 A18 17. DIRECT COST OF SALES, GENERAL AND ADMISTRATIVE EXPENSES APPENDIXA 18. INTEREST EXPENSE Specimen Financial Statements 19. OTHER EXPENSE INCOME, NET of which are on ill UTGATION The Dorad and conduct of t o h e drop we arter 27. COMMITMENTS, CONTINENCIES AND GUARANTEES Farm e ron was Financial Reporting and Analysis Financial Reporting Problem BYP13-1 The shareholders' equity section for Corus Entertain- ment Inc. is shown in the consolidated balance sheet in Appendix A. You will also find data related to this problem in the notes to the financial statements. Instructions (a) How many classes of shares does Corus have? For each class of shares, specify how many shares are authorized and issued at August 31, 2014. (Hint: Refer to Note 15.) (b) Refer to Note 15 again. What are the rights of each class of shares? (c) Did Corus issue any additional shares in fiscal 2014? If so, specify how many were issued, for what dollar amount, and for what purpose. (d) What was the average per share amount of each class of Corus's shares at the end of fiscal 2014? (e) Did Corus declare any cash dividends in fiscal 2014? If yes, how much? (1) Corus's return on equity was calculated for fiscal 2014 in Illus- tration 13-8. Calculate the company's return on equity for fiscal 2013. Did this ratio improve or worsen from 2013 to 2014? APPENDIX A Specimen Financial Statements As a Bechter CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As at August 31, 2014 As at August 31, 2013 11.50 19.12 ASSETS Current 183,000 81 206 164 302 47,759 9,768 13,032 16.392 9.542 12.619 204704 310.070 217,394 Total current assets 29,044 47,630 43. 42.290 121,704 183.280 229.304 143,618 330,437 63,455 979 984 934 859 41 584 42 975 125.931 151.192 232.587 82 274 515,036 646.045 39.463 2.167.137 Booster Goodwin 30.161 520770 548 045 28.327 2.088 228 2.784 582 LIABILITIES AND SHAREHOLDERS' EQUITY Current Accounts payable and conued labi note Income a no 20 Provisionate 12 170,411 164,443 177,367 1.300 5,314 3.901 2322 175,725 168.384 180.992 Long term decho 0 One long term bites Deferred to note 20 14 874,251 171,793 252.687 538,906 93.241 145.713 518 258 97.588 145.310 SHAREHOLDERS' EQUITY 1,474,456 946,304 932148 Corted us 910,005 7,836 Acord the comprehensive income fossi note 16 To uty but to warhaiders betoon cartongest Total Shareholders' equity 967,330 8,385 313,361 3.767 937.183 7.221 256.517 1.663 1.200 574 18.259 (912 1.115,473 20.617 1,292,843 17,283 1,310,125 2,784,582 Gants regard 1.138.090 1,220,833 2.167 137 s 13 and 2 2.068.250 M UI Income and Comprehensive Income APPENDIA AS OLIDATED STATEMENTS OF INCON OREHENSIVE INCOME CONSOLID COMPREHE the years ended August 31. of Canadian of Canadan olors. emce per share amounts 2013 ies, general and administrative expensesinate 1 541.378 Orict cost of a ition and amortuation notes 5 and 6 rost expense note 18 4796 7343 46,72 [127184 6304 0.560 5,740 tense and goodwill impairment Inotos 9 and 10 peerretrancing inote 13) quisition integration and restructuring costs (notes 12 and 20 Ganon acquisition note 26) non sale of associated company note 26 One perse Incomel.net (note 19) come before income taxes ncome tax expense note 20) Net income for the period 200211 156,109 166.140 1506 150,408 5,761 Net Income attributable to: Shareholders Non-controlling interest $1.17 Earnings per share attributable to shareholders 156, 160 Basic Duted Net Income for the period 1.720 74 Other comprehensive income floasi.net of tax in 10 ems that may be reclassified subsequently to net income Oriod foreign currency translation a mont Unrated change in f u o vable for sale investments Unread change in fchow hedges Actuaria os non employee tre bonnets 6,854 S 156005 Comprehensive income for the period Comprehensive income attributable to Shareholders Non-controlling interest CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY Non- Total shareholders Share capital Contributed hote 15) surplus 937,183 7.221 Retained carrings 256.517 150.408 (2.188) 191,376) Accumulated other comprehensive Income foss) note 16 1.653 (74 2.188 Total equity attributable to shareholders 1.202.574 150,334 controlling interest 18.259 5.761 equity 1.220.833 156.096 (91,376 (6,737 (98,113) In thousands of Canadian dollars At August 31, 2013 Comprehensive income foss) Actuarial loss transfer Dividends declared Issuance of shares under stock option plan Issuance of shares under dividend reinvestment plan Share-based compensation expense At August 31, 2014 4.603 4,603 5465 (862) - 24,682 24,882 24.682 2.026 2.026 8,385 2,026 1,310,125 17,283 967,330 313,361 1.292,843 3 3,767 ,767 1 910,005 7,836 - (812) 3,081 1,115,473 162,976 20,617 5,854 ,136.000 168.830 198,445 150,895 616 184,452) (8.331) (84,452) 1 190,783) 1,155 2.200 (1.045) (1.045) 1 At August 31, 2012 Comprehensive income Actuarial gain transfer Dividends declared Issuance of shares under stock option plan Issuance of shares under dividend reinvestment plan Shares repurchased Share-based compensation expense Acquisition of non-controlling interest note 20) At August 31, 2013 See accompanying notes 26,731 (708) 1758 26,731 (1.484 26,731 11.464) - 1,588 1 - 1,586 1.586 1 - .221 (17.231) 256,517 937,183 (17.231) 1.202,574 (1.881) 18.250 7 1653 (19.112) 1,220,833 Consolidated Statements of Cash Flows APPEND CONSOLIDATED STATEMENTS OF CASH FLOWS 2013 156,109 185.749 24.06 83,000 207.699 19,809 5.638 3,336 26.812 5.134 1683 25.750 7.121 2.026 10279 14,099 31,916 250g 155.390 For the years ended August 31, In thousands of Canadian dollars OPERATING ACTIVITIES Net income for the period Add (deduct) non-cash oms: Depreciation and amortization (notes 5 and 6) Broadcast license and goodwill impairment notes 9 and 10) Amortization of program and fim rights intos 7 and 17) Amortization of film investments (notes 8 and 17) Deferred income taxes (note 20) Increase in purchase price obligation (note 26) Investment impairments notes 5, 8 and 19) Share-based compensation expense note 15) Imouted interest (note 18) Tangible benefit obligation (note 26) Debt refinancing (note 13) Gain on sale of associated company note 26) Gain on acquisition (note 26) Other Not change in non-cash working capital balonces related to operations note 24 Payment of program and film rights Net additions to fim investments Cash provided by operating activities INVESTING ACTIVITIES Additions to property, plant and equipment note 6 Business combinations note 2 Dividends from investment in joint ventures (note 3) Net cash fows for investments and intangibles Other Cash used in investing activities FINANCING ACTIVITIES Increase decrease in bank loans Issuance of notes moto 13) Redemption of notes note 13 Financing toes note 13) Istance of thorns under stock option plan Shares repurchased note 18) Didonds pald Dividends paid to non-controlling interes (127.884) 2.402 22.045 (225,935) (25.349) 194,477 114.3 6.768 (159.802 (46.074 156.729 (11,976) (497,393) (13.029) (11,493) 15,384) 10. 8 (10,855) (526,246) (13.670 333,243 (20.925 550.000 500.000 126,732 (587) (1.464) 156.606 6.331) Other (65,474) 16,737) (2.000) 202,000 (89.681) B1,268 11.SAS (10.727 0.991) Cash provided by used in financing activities change in hand cash or during the year cash and ch a rita begining of the year and cash equivalents, end of the year Cash and ca 02.068 19. 81.266 To A NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The sono Nbox A 1. CORPORATE INFORMATION Corus r imante Company is the Canadian communions and Cory. The Company incorporated under the Canadu Corps And Nong Sested on the Toronto Soo Bichange the CRB The Company's r ed of 1500 800 - Sugary Theory Gecessors 25 Bo ronto, OMA These concedendo aments include the m ore com e dor Day and convention stronofs n on world and the Concour on programerchandise o e produto and the production 2. BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE Specimen Financial Statements BUSINESS COMBINATIONS Board of Directors on October 2014 3. SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The correctamente perdonado contractors in Canada Goos, which is the many f or curry and we are rounded to enthousand when we oned Eacher toned by the Company is own unctional currency based on the primary economenon in which they are BASIS OF CONSOUCATION odnos The consolidated transament comprise the financial statements of the Company and is subidores, which are the ones which the Company has con coro when theory is ros t o v eure from t h w e ent and has the aby to attect those ou rough power theory. The non congest component of the Company's subsidies included in Subadares are un consolidated to the use of action, bong the date on with the Company ang control and continue to be consoled unto the date when such corto The t in of cori assessed her through she w o rld to b e board of directors, which may sgrificare judgment The racial of the company's sucres are prepared for the ware reporting periodas e Compong g r ccogpoles compar es transactions, edgars and from a company actors and chords are mad There e os con este sono tort in the w o rd for the Top Any corngartoon to be the recor d Sur changes to the t h e contingeret .dation where barca Recognition and their b sed as a short d REVENUE RECOGNITION achelor organ corso ry few A ctes are c over which the company has continence in conduces the power to partiopate in the france and operating pokey decisions of the investu oto j o Dolce we based on the preceding more bore d by the breastbonus hro oms oro gusti e conomice and Tel e comary me pros te Copy of Gowongan dicunt programma Toeg roby the c o re action and re come the bacon can and the Company does not an erroring manager involvemento che contro Comarces on contrare recorded as med en foregongo recognition condrons have been met Non- r a ces where ones we were con porodos commenced and colections , reture performance attore led with royalty advance for which in that come, revue recognis e d and record when the performance s tore we decurge date advances are detened and grad e s the performance b ons are charged GASH AND CASH EQUIVALENTS och pode The non med barboden t by changamoto PROPERTY, PLANT AND EQUIPMENT Notes to the Consolidated Financial Statements Selected Excerpts) APPENDOKA ercolor ros in concione Domowego BOROWING COSTS Bor d produced Arbonico per AD A10 GOCOWL AND INTANDOLE ASSETS APPENDIKA pod d o the che p ortion of conter Specimen Financial Statements PROVISIONS modification of testing and conditions of the cere ment of d e ed amount record to non conten t or the ne w s and red. is record in prostor money and especific to the owne d OD COUS Tarepected to bereme were the common spective of t he FINANCIAL INSTRUMENTS schement mornion gote Company's per met na brod en med singer w o rd to the valuation e r based on a controm pro vartistas dan active market. These s on techniques in some level of management and contre degree of which will condone prone tortor mandens com Franca ro oftor Financial m aar voo profit or los recordato Changes in our recogwe Other income in the con t ents of income wd comprehensione echy arendas Level Un c es at the measurement de Level 2 - Observation than convolt wes ted power o r AS A trec u ted is records to praction collect The wofer Uw ments (Selected Excerpts) APPENDIX A11 A12 APPENDIX A FARINGS PER SHURE Buscape the dang the w a ter of common w ang ung the you. The common of a persones w e re common shares standing during the rise to o u r common ware WOUD have been stand the power o n th e The defect of stock phon is ined using the t o ok method IMPARNENT OF LONG-UVED ASSETS A reporting Company song b o lding property plant and met Drogare and migh t goodwilanditang t orpolenta indicators of m en, such as an adverse change in un c ertain the may be impared for parent na m e comport e mount. The recover mortis med for and most recent gerech t e gynecordant of those from the which case is essed as part of the Douto which belong. An C o verable more is the higher of its for all costoso FVLCS) and its value in use the dem on the recove re in the moment entre e ls bodong.cted market promprom of comparable business pret voor on s , or a combination the reg management to the d urations The Company records impairment on tongved when the Company beves that the carrying ve may not be For Mouding wlan sessment is to where there is an indication that provide condim ents may no longer stor may have Geo t hes for impairment no longer p ermet des may be revered up to a maximum the carrying out of the cover s had not been recognized in December 2011, the Samended both $22. Franci s Po n d IFRS 7. Franc home Decor by mounted under the boutong tr and The f tenente Company year commencing Starter 1, 2013. The comparas de mad e ra d e There is no pacto create frumoase Specimen Financial Statements 4. ACCOUNTS RECEIVABLE Geodul ed for importavaly or mor e indication that may have Goodsalocale or group of Color Puro gbo win management mention which is not e n cerrament. The company conson impareri the recoverable amount of the CGU or group of Cous is less than the carrying amount Roter to note 10 torre was on the Company's o g to good S INVESTMENTS AND INTANGIBLES Broadcaster reviewed for impament y of more threquery there are dictions at pret may have occurred Broadcaste r located to a cou for the purposes of ma t ting The Company recordan mpamento c a rt of the Colorante care amount Rolor to note 10 torture on the Companya m ent sing for broadcasters The use of the intagits with free wich are more and property, plant and current recorded at least and only tested to moment events or changes in crustace ae an imporment may occured LEASES The dele tion of whether ananager or contar les based on the substance of the argument the incecond whether ent of the rangement is dependent on the use of a specificatore of the arrangement conveys to see where the company is the bes t was recorded under the lases are not on a rag-in sover the peod of expected to Oligations recorded under th e reduced by payments et of imputadores Operating a comments for wiche payments are records anepermente conected statements of income and comprave income, are recoged on a swine werthelem INTANGIBLES Hargire comprend of worl d and 6. PROPERTY, PLANT AND EQUIPMENT INVESTMENTS IN ASSOCIATES in the level of corror cetate Company has over magnet . rs own percentago n as well as the provision in the agreements The Company can cover the town ments which have been accounted for using the equity method and are included in investments in perts say corrected once Food tor is s tood an As proces e programm twork. This brand is the destination for Canedors e d to food and to weg e or whe n 30, 2013, the Company the douton de of food 7. PROGRAM AND FILM RINTS 100 Ulcerpts) APPENDOKA & FILM INVESTMENTS o The charge f todo 2014 Oro Negara sort of produ 15. We corded tr ade AS c ts 10. IMPAIRMENT TESTING Ate C n e red o ntact Orduty to done tows in 2013, were comment such as the ne e d any such indoo r and the sam e corony gured out with an intend m to y Forlog hed good tea c hing , whether the syndicate d The may come gu y The term of the two odwo compare the mount of the or Cu o the carrying the moti o PCS The coverable amounted on w e er star wgende o or grou n d goodwind es u cannot be formed to S t o tis The Company oth des August 31, 2015. The Com by 2023 er back a p act the n book d will be wortunge of tim e to be fully mond 9. BROADCAST LICENSES AND GOODWILL Broerend good or AA 31, o moterys or change in ce that my beared unge second and third g rofa 2014, te Company Cont r ols were for goodwill become and CUSCOUS V OUS of each or group of The preto count and growth a t the Corry for the purpose of its c ach of the following groups of Us in the following periods were on performed to condonercing Dren group of Customm age is gert . Sony to change An infobas ports in the precurs os ponts in the sa e cach year, or a decrease of sports in the growth ach i to perto the radio goodwill impairment est, would have multed in additional goodwi moment in the Radio segment of bow $1.000 and $8.000. Hotomaten dion broadcast one immers would The Company has completed its annual parment ting of goodwil and intangible for a 2014. There were no additional impamentos to be recorded as a result of the wing The Company for any indicators of whether previous impamentos Padded No comment les on broadcast foors were reversed The crying amounts of good and broadcast one located to ou and or group of C artout in the following tables the contenuto i to the co u nt and the n carrying amount, re carrying amount of the reduced choice as parents in the considered soments of the most out of you of C h angamot, an momentos grind The lo c ated to reduce the coming out of a good cated to the COU O gro u nd to Sport on Feb ofte gourt for the C C The inte CG Carnot be with down below the w o o determinat 11. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Orto for more Selected Excerpts) APPENDIXA A15 APPENDIXA The New Mo n g Theory he a rt. 17 14. OTHER LONG-TERM LIABILITIES Specimen Financial Statements 13. LONG-TERM DEST 15. SHARE CAPITAL AUTHORLD and w ord hom warto fry 2018. The o ther suche here to share on the Ag e on wong ISSUED AND OUTSTANDING Cases Non-Voting Sams under the Company Souto Pause w e No A 31.25 r Cost Person Prod Share outstandig 16. ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS) wide rare dorm Mancial Statements Selected Excerpts A PPENDIA A17 A18 17. DIRECT COST OF SALES, GENERAL AND ADMISTRATIVE EXPENSES APPENDIXA 18. INTEREST EXPENSE Specimen Financial Statements 19. OTHER EXPENSE INCOME, NET of which are on ill UTGATION The Dorad and conduct of t o h e drop we arter 27. COMMITMENTS, CONTINENCIES AND GUARANTEES Farm e ron was