Investor Presentaiton
(viii) Reform of Interbank offered rates (IBORS): amendments to IFRS 9/
CPC 48 Financial instruments, IAS 39 / CPC 38 Financial instruments -
recognition and measurement, IFRS 7 / CPC 40 Financial instruments:
disclosure, IFRS 4 / CPC 11 Insurance contracts and IFRS 16 / CPC 06
Leases.
The Company analyzed the amendments to the accounting standards
mentioned above and did not identify any impacts on its operating and
accounting policies.
3.2. New standards issued and amendments to accounting
standards not yet adopted by the Company and its
subsidiaries
The following changes to standards issued by the International Accounting
Standards Board (IASB) will be adopted for the first time in periods begin-
ning after January 1, 2022:
(i) Review
of technical pronouncements by the Accounting
Pronouncements Committee, No. 19/2021 with amendments to the
Technical Pronouncements: CPC 37 (R1) / IFRS 1 - First-time Adoption
of International Accounting Standards, CPC 48 / IFRS 9 - Financial
Instruments, CPC 27 / IAS 16 - Fixed Assets, CPC 25/IAS 37 -
Provisions, Contingent Liabilities and Contingent Assets and CPC 15
(R1) IFRS 3 Business Combinations, as a result of the annual changes
related to the 2018-2020 improvement cycle; Fixed Assets - - sales
before intended use; Onerous Contract - contract fulfillment costs; and
References to the Conceptual Framework.
The Company analyzed the amendments to the accounting standards
mentioned above and did not identify any impacts on its operating and
accounting policies to be adopted retrospectively or at the beginning of the
year 2022.
4. Critical accounting estimates and
judgments
Based on assumptions, the Company and its subsidiaries make estimates
regarding the future. By definition, accounting estimates and judgments
are continuously reviewed and are based on historical experience and other
factors, including expectations of future events, which are considered re-
asonable for the circumstances. Revisions to the estimates are recognized
prospectively.
The accounting estimates will rarely be the same as the actual results.
Estimates and assumptions that present a significant risk and are likely to
cause a material adjustment to the carrying amounts of assets and liabi-
lities for the next fiscal year are described in the respective notes below:
(i) Fair value of financial instruments and derivatives (Note 6.1.1);
(ii) Trade receivables (Note 11);
(iii) Electric power futures contracts (Note 16);
(iv) Property, plant and equipment (Note 18);
(v) Intangible assets (Note 19);
(vi) Lease liabilities (Nota 21);
(vii) Current and deferred income and social contribution taxes (Note 23);
(viii) Provision (Note 24);
(ix) Pension plan (Note 26).
=
130View entire presentation