In 2008, the following standard and interpretations with relevance for Novozymes were brought into effect and implemented:
The implementation has lead to further disclosures, but not resulted in any changes in recognition and measurement.
Standards and interpretations adopted, but not brought into effect and implemented as at December 31, 2008, include:
Implementation of these will lead to further specifications in the Notes, but no material changes in recognition and measurement. The most significant changes pursuant to IFRS 3 are that acquisition costs must be expensed and that it is possible to use the full goodwill method. In addition, borrowing costs relating to qualifying assets must be capitalized pursuant to IAS 23. The requirement for proceeds of government loans at below-market rates of interest to be recognized at market value may also become relevant to Novozymes.