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FINANCIAL STATEMENT DISCLOSURE REQUIREMENTS
IFRS Disclosure, Issued Dec 2010

Client : Inmobiliaria de Hospitalidad San Rafael, S. A.
Year End : 31122010
Statements Examined : 31 de diciembre de 2010

Instructions Complied with

Item Addl Applicable, But information
No. Reference N/A Yes Info Not Required -- Explanation

See ADC Help (Help, Contents, Checklist Information, Checklist
Availability, IFRS Disclosure) for a link to the global IFRS web site
where you can find a PDF example of a full IFRS Financial
statement.

SECTION A: DISCLOSURES FOR CONSIDERATION BY ALL
ENTITIES

A1. General Disclosures
0 0 0
A1.1. General Disclosures
0 0
(a) Financial statements present fairly the financial
position, financial performance and cash flows of an IAS 1, par 15
entity. Fair presentation requires the faithful
representation of the effects of transactions, other
events and conditions in accordance with the definitions
and recognition criteria for assets, liabilities, income
and expenses set out in the 'Framework for preparation
0 0 0
and presentation of financial statements' (Framework).
The application of IFRSs, with additional disclosure
when necessary, is presumed to result in financial
statements that achieve a fair presentation.
IAS 1, par 27
An entity prepares its financial statements, except for

cash flow information, using the accrual basis of

accounting.
(b) Include the following components in the IAS 1, par 10(a)-(f) 0 0
financial statements:

a statement of financial position (balance sheet) 0 0 0
at the period end date;

(2) a statement of comprehensive income for
0 0 0
the period;

(3) separate income statement (if 0 0 0
presented);
(4) a statement of changes in equity for the period;
0 0 0
(5) a statement of cash flows for the period; and
0 0 0
(6) notes, including a summary of significant
accounting policies and other 0 0 0
explanatory information.

Note: Where a separate income statement is IAS 1, par 12
presented, display immediately before the statement of
comprehensive income.
IAS 1, par 10(f)
(c) Where an entity applies an accounting policy
retrospectively or makes a retrospective restatement of
items, or reclassifies items in its financial statements,
include a statement of financial position as at the 0 0 0
beginning of the earliest comparative period.

(d) Present with equal prominence all of the financial
IAS 1, par 11 0 0 0
statements.

PricewaterhouseCoopers LLP 1 02 Sep 2011


Year End : 31122010


No. Reference N/A Yes Not Required -- Explanation
Info

IAS 1, par 29
(e) Present separately each material class of similar items.

Present separately items of a dissimilar nature or 00 0
Do not offset unless they liabilities or income and expenses
function assets and are immaterial.
unless required or permitted by an IFRS.
IAS 1, par 32 00 0

Make an explicit and unreserved statement in the notes that
the financial statements comply with IFRS. IAS 1, par 16 00 0
Note: Financial statements should not be described as
complying with IFRS unless they comply with all the
requirements of IFRS.
IAS 1, par 49
(h) Identify the financial statements and distinguish them
from other information in the same published documents.
o0 0
(i) Identify each financial statement and the notes. IAS 1, par 51 00 0
IAS 1, par 51 (a)-(e)
Q) Display the following information prominently, and
repeat where necessary for the information presented to be
understood: o 0
the name of the reporting entity or other means of
identification, and any change in that information 00 0
from the end of the previous reporting period;

(2) whether the financial statements are for an
individual entity or a group of entities; 00 0
the date of the end of the reporting period or the
period covered by the financial statements and 00 0
notes;

(4) the date of the end of the reporting period or
the period covered by the financial statements 00 0
and notes;

(5) the presentation currency (defined in IAS 21); 00 0
and
(6) the level of rounding used in presenting
amounts in the financial statements.
00 0
Note: An entity need not provide a specific disclosure IAS 1, par 31
required by an IFRS if the information is not material.

IAS 1, par 36(a)-(b)
(k) Where an entity has changed the end of its reporting
period and prepares financial statements for a period of 0 0
less than or more than one year, disclose:
(1) the period covered by the financial statements; 00 0
(2) the reason for using a longer or shorter
period; and 00 0
the fact that amounts presented in the 00 0
financial statements are not entirely
comparable.



Year End : 31122010


Applicable, But information
Item No. ~Reference~N1AjYesllnfol
Not Required -- Explanation

(I) Include the following in the notes to the financial
statements: IAS 1, par 17 00

(1) the date when the financial statements were
authorised for issue; o 00
(2) the body who gave that authorisation; and
o 00
(3) whether the entity's owners or others have the
power to amend the financial statements after o 00
issue.
A1.2. Presentation and Functional Currency o0
IAS 21, par 53

(a) When the presentation currency is different from the
o 00
functional currency, state that fact, together with
IAS 21, par 54
disclosure of the functional currency and the reason for
(b) When there is a change in the functional currency of
using a different presentation currency.
o 00
either the reporting entity or a significant foreign
(c) If presenting financial statements in a currency that is IAS 21, par 55
operation, disclosefunctional and the reason for the
different from the that fact currency, describe the
financial statements as complying with IFRS only if they
change with all the requirements of each applicable
comply in functional currency. 000
standard and each applicable interpretation including the
translation method set out in IAS 21 pares 39 and 42.

(d) An entity sometimes presents its financial statements or
IAS 21, par 56
other financial information in a currency that is not its
functional currency without applying the translation
methods set out in IAS 21 pare 39 and 42. For
example, an entity may convert only selected items from
its financial statements into another currency; or, an
entity whose functional currency is not the currency of a
hyperinflationary economy may convert the financial
000
statements into another currency by translating all items
at the most recent closing rate. Such conversions are not
in accordance with IFRS, and the disclosures set out in
IAS 21 pare 57 are required (see below).
IAS 21, par 57
(e) If presenting financial statements or other financial

information in a currency that is different from either the

functional currency or the presentation currency without o0
applying the translation methods set out in IAS 21 pares
clearly identify the information as supplementary
information to distinguish it from the information
39 and 42: 000
that complies with IFRS;

(2) disclose the currency in which the 000
supplementary information is displayed; and



Year End : 31122010


Item Applicable, But information
Addl
Info
(3) disclose the entity's functional currency and
the method of translation used to determine 00 0
the supplementary information.

A1.3. Other Disclosures 0 0
(a) Disclose in the notes: IAS 1, par 112(a)-(c) 0 0
information about the basis of preparation of the
financial statements and the specific accounting
policies used;
00 0

(2) the information required by IFRSs that is not
presented elsewhere in the financial
00 0
statements; and

information that is not presented elsewhere but is
relevant to an understanding of the financial 00 0
statements.

Note: The notes are given in a systematic manner, as
far as is practicable, with each item cross-referenced in
IAS 1, par 113
the statements of financial position and of
comprehensive income, the separate income statement
(where presented) and in the statements of changes in
equity and cash flows to any related information in the
notes.
IAS 1, par 114-115
(b) Notes are normally presented in the following order to

assist users to understand the financial statements
o 0
and to compare them with financial statements of

other entities (unless considered necessary or
(1) statement of compliance with IFRSs (see IAS IAS 1, par 114(a) 00 0
1.16);
desirable to vary the order):

(2) summary of significant accounting policies
applied (see IAS 1.117);
IAS 1, par 114(b) 00 0

(3) supporting information for items presented in the IAS 1, par 114(c)

statements of financial position and of
comprehensive income, in the separate income
o0 0
statement (if presented), and in the statements
of changes in equity and of cash flows, in the

(4) order disclosures,
other
IAS 1, par 114(d) 0 0
including:
in which each statement and each line item
a. presented; and
is contingent liabilities (see IAS 37) and
unrecognised contractual commitments; o0 0
b. non-financial disclosures (see IFRS 7). 00 0



Year End : 31122010



Note: Notes providing information about the IAS 1, par
116 basis of preparation of the financial statements
and specific accounting policies may be
presented as a separate section of the financial
statements.

(5) Provide additional disclosures when compliance IAS 1, par 17(c)
with the specific requirements in IFRSs is
insufficient to enable users to understand the
impact of particular transactions, other events 00 0
and conditions on the entity's financial position
and financial performance.

(c) Disclose comparative information in respect of the IAS 1, par 38
previous period for all amounts reported in the
current period's financial statements, except where
IFRSs permit or require otherwise. This includes
comparative information for both narrative and 00 0
descriptive information where it is relevant to
understanding the financial statements for the
current period.
(d) An entity disclosing comparative information presents, IAS 1, par 39
as a minimum, two statements of financial position,
two of each of the other statements, and related notes.
Where an entity applies an accounting policy
retrospectively or makes a retrospective restatement of
items in its financial statements, it presents, as a o 0
minimum, three statements of financial position, two of
each of the other statements, and related notes. An
entity presents statements of financial position as at:

(1) the end of the current period;
00 0

(2) the end of the previous period (which is the
same as the beginning of the current period);
00 0
and
the beginning of the earliest comparative period. 00 0
IAS 1, par 41 (a)-(c)
(e) Where an entity has reclassified comparative

amounts due to a change in presentation or 0 0
classification of items in reclassification;
the nature of the its financial statements,
(1) 00 0
disclose:
(2) the amount of each item or class of item that
is reclassified; and 00 0
the reason for the reclassification.

00 0
Note: When an entity changes the presentation
or classification of items in its financial
statements, reclassify comparative amounts
unless it is impracticable to do so.
IAS 1, par 42

(f) Where an entity changes the presentation or
classification of items, but it is impracticable to reclassify 0 0
comparative amounts, disclose:
(1) the reason for not reclassifying the amounts; and o0 0



Year End : 31122010


Info

(2) the nature of the adjustments that would
have been made if the amounts had been reclassified. 00 0
(g) Retain the presentation and classification of items in IAS 1, par 45
the financial statements from one period to the next
unless:
o 0
it is apparent, following a significant change in the
nature of the entity's operations or a review of its
financial statements, that another presentation or 00 0
classification would be more appropriate having
regard to the criteria for the selection and
application of accounting policies; or

(2) an FIRS requires a change in presentation.
o0 0
(h) Disclose the following:
IAS 1, par 138(a)-(d) 0 0
the domicile and legal form of the entity, the
country in which it is incorporated and the address
of its registered office (or principal place of
00 0
business, if different from the registered office);

(2) a description of the nature of the
o0 0
entity's operations and its principal activities;

(3) the name of the parent and the ultimate parent
of the group; o0 0

(4) name of the immediate parent entity (or
other controlling shareholder);
IAS 24, par 12 00 0

(5) name of the ultimate controlling o0 0
party.
Note: If neither the parent entity nor the ultimate
parent entity present financial statements available for IAS 24, par 12
public use, disclose the name of the next most senior
parent that does so.

Companies may present outside the financial
statements a financial review by management that
describes and explains the main features of the entity's
00 0
financial performance and financial position, and the
principal uncertainties it faces. Refer to Section G.

FIRS 6, par 24(b)
Q) Companies with exploration and evaluation activities
disclose the amounts of assets, liabilities, income and
expense and operating and investing cash flows arising
from the exploration for and evaluation of mineral 00 0
resources.

o0 0

o 0
A2. Accounting Policies A2.1. General Disclosures (a) IAS 1, par 117(a)-(b) 0 0
Disclose in the summary of significant accounting
policies:



Year End : 31122010


Info

the measurement basis (or bases) used in
preparing the financial statements; and 0 0 0
(2) the other accounting policies used that are
relevant to an understanding of the 0 0 0
financial statements.

(b) Disclose in the summary of significant accounting IAS 1, par 122
policies or other notes the judgements, apart from
those involving estimations that management has
made in applying the entity's accounting policies and 0 0 0
that have the most significant impact on the amounts
recognised in the financial statements.
IAS 1, par 125(a)-(b); IAS

(c) Disclose information about the assumptions made
1, par 129
about the future and other major sources of
estimation uncertainty at the end of the reporting
period that have a significant risk of leading to 0 0
material adjustments to the carrying amounts of
assets and liabilities within the next financial year. In
respect of those assets and liabilities, disclose:
(1) their nature, and 0 0 0

(2) their carrying amount as at the period end date. 0 0 0
(d) Examples of the types of disclosures an entity makes
are:
0 0
the nature of the assumption or other estimation
uncertainty;
0 0 0

(2) the sensitivity of carrying amounts to the
methods, assumptions and estimates underling
their calculation, including the reasons for the
0 0 0
sensitivity;

the expected resolution of an uncertainty and the
range of reasonably possible outcomes within the
0 0 0
next financial year in respect of the carrying
amounts of the assets and liabilities affected; and

(4) an explanation of the changes made to past
assumptions concerning those assets and 0 0 0
liabilities, if the uncertainty remains
unresolved.
IAS 1, par 131

(e) Where impracticable to disclose the extent of the
o 0
possible effects of an assumption or another source of
it is reasonably possible, on the basis of existing
estimation uncertainty at the end of the reporting
knowledge, that outcomes within the next financial 0 0 0
year that are different from the assumption could
period, disclose that: adjustment to the carrying
require a material
amount of the asset or liability affected, and;



Year End : 31122010



(2) the nature and carrying amount of the specific
asset or liability (or class of assets or liabilities)
affected by the assumption.
000

(f) In consolidated financial statements, the results of all IAS 27, par 28; IAS 28,
subsidiaries, associates and joint ventures should be par 26; IAS 31, par 33
consolidated, equity accounted or proportionally 000
consolidated, as applicable, using uniform
accounting policies for like transactions and other
events in similar circumstances.

(g) In accordance with the transition provisions of each IAS 8, par 28
standard, disclose whether any standards have been 000
adopted by the reporting entity before the
effective date.

(h) Inappropriate accounting policies are not rectified either IAS 1, par 18
by disclosure of the accounting policies used or by 000
notes or explanatory material.

A2.2. Specific Policies
0000
(a) Disclosure of the following accounting policies is
required:

(1) Consolidation principles, including accounting for: IAS 1, par 119 0 0

a. subsidiaries; and o 0 0
b. associates. o 00
(2) Business combinations. IAS 1, par 119 0 0 0
(3) Joint ventures, including the method the venturer IAS 31, par 57

uses to recognise its interests in jointly controlled o 0 0
entities.
(4) Foreign currency transactions and translation. IAS 1, par 119 0 0 0
(5) Property, plant and equipment - for each class: IAS 16, par 73(a)-(c) 0 0
a. measurement basis (for example, cost less
accumulated depreciation and impairment 000
losses, or revaluation less subsequent
depreciation);

b. depreciation method (for example, 000000
the straight-line method); and

c. the useful lives or the depreciation rates
used.

(6) Investment property. Disclose: IAS 40, par 75(a)-(e) 0 0
a. whether the entity applies the fair 000
value model or the cost model;



Year End : 31122010


No. Addl Not Required -- Explanation
Reference N/A Yes
Info
b. if it applies the fair value model, whether,
and in what circumstances, property
interests held under operating leases are o0 0
classified and accounted for as investment
property;
c. when classification is difficult, the criteria the
entity uses to distinguish investment
property from owner-occupied property and
from property held for sale in the ordinary 00 0
course of business;

d. the methods and significant assumptions
applied in determining the fair value of
investment property, including a statement
on whether the determination of fair value
was supported by market evidence or was
more heavily based on other factors (which
o0 0
should be disclosed) because of the nature of
the property and lack of comparable market
data; and

e. the extent to which the fair value of
investment property (as measured or
disclosed in the financial statements) is based
on a valuation by an independent valuer who o0 0
holds a recognised and relevant professional
qualification and has recent experience in the
location and category of the investment
property being valued.
IAS 1, par 119
(7) Other intangible assets. Disclose, for each class
(distinguishing between internally generated and
acquired assets): o 0

a. accounting treatment (cost less

amortisation, or, in very rare cases,
o0 0

b. revaluation the useful lives are indefinite or
whether less subsequent amortisation); IAS 38, par 118(a) 00 0
finite;

IAS 38, par 118(a)-(b)

c. for intangible assets with finite useful lives,
o0 0
the amortisation period and amortisation
d. for intangible assets with indefinite useful IAS 38, par 108
methods used (for example, the straight-line
lives, that they have been tested for
method); and
impairment annually and whenever there is
o0 0

an indication that the intangible asset may IAS 1, par 119
(8) Treatment of research costs and the basis for
be impaired.
capitalisation of development costs and website 00 0
development costs. IAS 1, par 119; IAS 23, 00 0
Borrowing costs (for example, expensed or
capitalised as part of a qualifying asset). par 9; IAS 23, par 29(a)



Year End : 31122010


No. Reference N/A I Yes Info) Not Required -- Explanation

(10) For each class of financial asset, financial liability IFRS 7, par 21

and equity instrument, disclose the accounting
o 0
policies and methods adopted, including the

criteria for recognition and the basis of IFRS 7, par B5
a. As part of the disclosure of an entity's
measurement. policies, disclose, for each
accounting
category of financial assets, whether regular
way purchases and sales of financial assets 00 0
are accounted for at trade date or at
settlement date (IAS 39, pars 38).
IFRS 7, par 21; IAS 1, par

b. Provide disclosure of all significant
108
accounting policies, including the general
principles adopted and the method of
applying those principles to transactions,
o 0
other events and conditions arising in
the entity's business. In the case of
financial instruments, such disclosure
includes:
i) the criteria applied in determining
o0 0
when to recognise a financial asset or
financial liability, and when to
derecognise it;
ii) the measurement basis applied to
financial assets and financial liabilities
o0 0
on initial recognition and
subsequently; and
iii) the basis on which income and
o0 0
expenses arising from financial assets
and financial liabilities are recognised
(11) Leases. and measured. IAS 1, par 119 00 0
(12) Inventories, including the cost formula used
(for example, FIFO or weighted average cost).
IAS 2, par 36(a) 00 0
(13) Provisions. IAS 1, par 119 00 0
(14) Employee benefit costs -including policy for
recognising actuarial gains and losses.
IAS 19, par 120A(a) 00 0
IFRS 2, par 44 00 0
(15) Share-based payments. (16)
Taxes, including deferred taxes. (17) IAS 1, par 119 00 0
Revenue recognition.
IAS 18, par 35(a); IAS 1, 00 0
par 119

IAS 18, par 35(a)
(18) The method adopted to determine the stage of
completion of transactions involving the 00 0
rendering of services.
(19) Construction contracts, including: IAS 1, par 119 0 0



Year End : 31122010


Info

a. methods used to determine contract revenue
recognised; and
IAS 11, par 39(b)-(c) 00 0

b. methods used to measure stage of 00 0
completion of contracts in progress.

(20) Government grants; IAS 20, par 39(a) 0 0
a. accounting policy; and b. method of
presentation in financial statements.
(21) Definition of cash and cash equivalents.
00 0
IAS 1, par 119
IAS 1, par 119; IAS 7, par o0 0
46
IAS 1, par 119 00 0
p p
(22) Segment reporting (required for listed companies):

a. definition of business and geographical
segments; and o0 0

b. the basis for allocation of costs between
segments. o0 0

(23) Exploration and evaluation expenditures including FIRS 6, par 24(b)
the recognition of exploration and evaluation assets.
o0 0
IAS 36, par 80; IAS 36,

(24) Policy for all assets including the selection of the par 102 00 0
cash-generating units to allocate the corporate
FIRS 6, par 21 and 23
assets and goodwill for the purpose of assessing
(25) Policy for allocating exploration and o0 0
such assets for impairment.
evaluation assets to cash-generating units or
IAS 1, par 134-135(a)-(e)

groups of cash-generating units for the
(26) Disclose information that enables users of the
o 0
purpose of assessing such assets for
financial statements to evaluate the entity's
a. qualitative information about the objectives,
impairment. o 0
policies and processes, including:
objectives, policies and processes for managing

i) capital, including:
a description of what the entity
manages as capital; o0 0

ii) the nature of any externally imposed
capital requirements and how those
o0 0
requirements are incorporated into the

iii) management of capital; and
how the entity is meeting its objectives o0 0
for managing capital;



Year End : 31122010



b. summary quantitative data about what 000000
the entity manages as capital;

c. any changes in (a) and (b) compared to
the prior period;

d, whether the entity has complied with
any externally imposed capital 000
requirements during the reporting
period; and
e. where the entity has not complied with any
externally imposed capital requirements, 000
the consequences of noncompliance.

_Note: The above disclosure is based on
information provided internally to key
management personnel.

A2.3. Changes in Accounting Policy 00000
(a) Where a change in accounting policy is made on the IAS 8, par 19
adoption of an IFIRS, provide the disclosures in
accordance with the specific transitional provisions of
that standard.

(b) On initial application of a relevant standard or IAS 8, par 28 0 0
interpretation, disclose:

(1) the title of the standard or 000
interpretation;
(2) that the change in accounting policy is made in
accordance with its transitional provisions, when 000
applicable;

(3) the nature of the change in accounting policy;
000000
(4) a description of the transitional provisions, when
applicable;

the transitional provisions that might have an 000
effect on future periods, when applicable;

(6) the amount of the adjustment for the current
period and each prior period presented, to 0000000
the extent practicable:

a. for each financial statement line item 0
affected; and

b. if IAS 33 applies to the entity, the impact on
basic and diluted earnings per share;

the amount of the adjustment relating to periods
before those presented, to the extent practicable; 000
and



Year End : 31122010


No. Addl Not Required -- Explanation
Reference N/A Yes
Info
(8) if the retrospective application required is
impracticable for a particular prior period, or for
periods before those presented, the
circumstances that led to the existence of that 0 0 0
condition and a description of how and from when
the change in accounting policy has been applied.

Note: These disclosures need not be repeated in
the financial statements of subsequent periods.
IAS 8, par 30
(c) If an entity has not applied a new relevant standard
or interpretation that has been issued but is not yet
effective, disclose: 0 0
the fact that the entity did not apply the new
standard or interpretation that has been issued
but is not yet effective; and
0 0 0
(2) known or reasonably estimable information
relevant to assessing the possible impact that
application of the new standard or interpretation 0 0 0
will have on the entity's financial statements in
the period of initial application.

(d) In complying with the previous paragraph, (DV) IAS 8, par 31 0 0
consider disclosing:

(1) the title of the new standard or 0 0 0
interpretation;
(2) the nature of the impending change or changes
in accounting policy;
0 0 0

the date by which application of the standard or
0 0 0
interpretation is required;

(4) the date as at which it plans to apply the
0 0 0
standard or interpretation initially; and

(5) either:
0 0
a. a discussion of the impact that initial
application of the standard or
interpretation is expected to have on the
0 0 0
entity's financial statements; or

b. if that impact is not known or 0 0 0
reasonably estimable, a statement to
that effect.
(e) On a voluntary change in accounting policy, disclose: IAS 8, par 29 0 0
(1) the nature of the change in accounting
policy; 0 0 0
(2) the reasons why applying the new
accounting policy provides reliable and more
relevant information;
0 0 0

the amount of the adjustment for the current
period and each prior period presented, to the 0 0
extent practicable:



Year End : 31122010


Info

a. for each financial statement line
item affected; and
00 0

b. if IAS 33 applies to the entity, the impact
on basic and diluted earnings per share; 00 0
(4) the amount of the adjustment relating to periods
before those presented, to the extent
practicable; and
00 0
if the retrospective application required is
impracticable for a particular prior period, or for
periods before those presented, the circumstances
that led to the existence of that condition and a 00 0
description of how and from when the change in
accounting policy has been applied.

Note 1: These disclosures need not be repeated in
the financial statements of subsequent periods.

Note 2: Exploration and evaluation expenditures. FIRS 6, par 13-14
An entity may change its accounting policies for
exploration and evaluation if the change makes
the financial statements more relevant to the
economic decision-making needs of users and no
less reliable, or more reliable and no less relevant
to those needs. The criteria in IAS 8 should be
followed for the change in the accounting policy.
00 0
A3. Statement of Comprehensive Income and Related Notes

A3.1. General Disclosures
0 0
Note: Refer to the Appendix to IAS 1 for an example of an
income statement.

(a) Present all items of income and expense recognised in IAS 1, par 81 (a)-(b) 0 0
a period:

in a single statement of comprehensive income
00 0
(2) in a statement displaying components of profit or
loss (a separate income statement) and a second
statement beginning with profit or loss and 00 0
displaying components of other comprehensive
income (statement of comprehensive income).
IAS 1, par 82(a)-(i)
(b) Include in the statement of comprehensive income, as
a minimum, line items showing the following amounts for the
period: o 0
(1) revenue; 00 0
(2) finance costs;
00 0
(3) share of profit or loss of associates and joint
ventures accounted for using the equity method; o0 0
(4) tax expense; 00 0



Year End : 31122010


Info

a single amount comprising the total of:
0 0
i) the post-tax profit or loss
on discontinued operations; 00 0
and
ii) the post-tax gain or loss recognised
on the measurement to fair value less
costs to sell or on the disposal of the 00 0
assets or disposal groups that make
up discontinued operations;

(6) profit or loss; 00 0
(7) each component of other comprehensive income
classified by nature (excluding amounts in (8)); o0 0
(8) share of the other comprehensive income of
associated joint ventures accounted for using the 00 0
equity method; and

total comprehensive income. 00 0
(c) Disclose the following in the statement of
comprehensive income as allocations for the period:
IAS 1, par 83(a)-(b) 0 0
profit or loss for the period attributable to: 0 0
a. minority interests; and
00 0
b. owners of the parent; and
00 0
(2) total comprehensive income for the period
attributable to:
0 0
a. minority interests; and 00 0
b. owners of the parent.
00 0
Note: Entities may present the line items and
disclosure as information required by paragraphs IAS 1, par 84
82 and 83 above in the statement of
comprehensive income or in the separate income
statement (if presented).
IAS 1, par 85
(d) Present additional line items, headings and sub-totals
in the statement of comprehensive income (and the
separate income statement, if presented) when such
presentation is relevant to an understanding of the 00 0
entity's financial performance.
IAS 1, par 90
(e) Disclose, either in the statement of comprehensive
income or in the notes, the amount of income tax
relating to each component of other 00 0
comprehensive income including reclassification
adjustments.
(f) Components of other comprehensive income may be IAS 1, par 91 0 0
presented:

(1) net of related tax effects, or o0 0



Year End : 31122010


Addl
Info
(2) before related tax effects with one amount
shown for aggregate amount of income tax
relating to those components.
0 0 0

Disclose reclassification adjustments relating to IAS 1, par 92 0 0 0
components of other comprehensive income.

(h) An entity may present reclassification adjustments in IAS 1, par 94
the statement of comprehensive income or in the
notes. An entity presenting classification adjustments in
the notes presents the components of other 0 0 0
comprehensive income after any related reclassification
adjustments.

When items of income and expense are material, IAS 1, par 97 0 0 0
disclose their nature and amount separately.

Give an analysis of expenses recognised in profit or loss IAS 1, par 99-101
using a classification based on either their nature or
their function within the entity, whichever provides
information that is reliable and more relevant. Entities
are encouraged to present this analysis in the
statement of comprehensive income or in the separate 0 0 0
income statement (if presented). When an entity uses
a by function analysis, it discloses at a minimum, cost
of sales separate from other expenses.
IAS 1, par 104
(k) Where the entity classifies expenses by function,
disclose additional information on the nature of
expenses, including depreciation, amortisation and 0 0 0
employee benefits expense.
IAS 20, par 29
(I) Government grants related to income are sometimes

presented as a credit in the statement of 0 0
(1) comprehensive income, either:
separately or under a general heading such as
0 0 0
'Other income'; or

(2) deducted in reporting the related expense. 0 0 0
(m) If an entity presents the components of profit or loss in IAS 20, par 29A
a separate income statement, as described in IAS 1
para 81, it presents grants related to income as 0 0 0
required in IAS 20 para 29.

(n) An entity that chooses to disclose earnings per share IAS 33, par 4
based on its separate financial statements presents
such earnings per share information only in its
statement of comprehensive income and not in the 0 0 0
consolidated financial statements.
IAS 33, par 4A
(o) An entity that presents the components of profit or loss
in a separate income statement, as described in IAS 1
0 0 0
para 81, presents earnings per share only in that separate
statement.



Year End : 31122010


No. Not Required -- Explanation
N/A Yes Addl
(p) Present actuarial gains and losses recognised in other Reference Info
comprehensive income in the statement of comprehensive IAS 19, par 93B
FIRS 1, par 6
o0 0
income.
El El El
(q) Prepare and present an opening FIRS statement of
financial position at the date of transition to IFRSs.

(r) Disclose separately the amount of income tax relating
to each component of other comprehensive income.
IAS 12, par 81 00 0

(s) Disclose the nature and amount of a change in an IAS 8, par 39-40

accounting estimate that has an effect in the current
o0 0
period or that is expected to have an effect in future

periods. If it is impracticable to estimate the IAS 1, par 81; IFRIC 17,
(t) If the entity settles a dividend payable by distributing par 14-15
amount, disclose this fact.
non-cash assets, does the entity present any difference
between the carrying amount of the assets distributed 00 0
and the carrying amount of the dividend payable as a
separate line item in profit or loss?
A3.2. Individual Items 0 0

(a) Disclose the amount of each significant category of IAS 18, par 35(b)
revenue recognised during the period, including revenue
arising from: o 0

o0 0
(1) the sale of goods; (2)
the rendering of o0 0
services; (3) interest;
00 0
o0 0
o0 0
(4) royalties; and (5)
dividends. IAS 18, par 35(c)
(b) Disclose the amount of non-cash revenue arising from

exchanges of goods or services included in each 00 0
significant category of revenue. SIC 27, par 10(b)
(c) Disclose the accounting treatment applied to any fee
received in an arrangement that has the legal form of
a lease but that in substance does not involve a lease
under IAS 17, the amount recognised as income in the 00 0
period, and the line item of the income statement in
which it is included (refer to Section A5.18(c)).
IAS 1, par 30
(d) Items not individually material are aggregated with

other items in the statement of comprehensive income 00 0
(e)
or in the notes.
Circumstances that would give rise to the separate IAS 1, par 98 0 0
disclosure of items of income and expense include:



Year End : 31122010


Info

the write-down of inventories to net realisable IAS 1, par 98(a)
value or of property, plant and equipment to
recoverable amount, as well as the reversal of 00 0
such write-downs;
IAS 1, par 98(b)
(2) a restructuring of the activities of an entity and
the reversal of any provisions for the costs of restructuring;
o0 0
(3) disposals of items of property, plant and
equipment;
IAS 1, par 98(c) 00 0

IAS 1, par 98(d) 00 0
IAS 1, par 98(e) 00 0
(4) disposals of investments; (5) discontinued IAS 1, par 98(f) 00 0
operations; (6) litigation settlements; and (7)
other reversals of provisions. IAS 1, par 98(g) 00 0
(f) Present an analysis of expenses recognised in profit or IAS 1, par 99-100

loss using a classification based on either the nature of
expenses or their function within the entity, whichever
o0 0
provides information that is reliable and more relevant.
Entities are encouraged to present this analysis in the
IAS 1, par 104
statement of comprehensive income or in the separate
income statement (if presented).
(g) If expenses are classified by function, disclose
o0 0
additional information on the nature of expenses,
IAS 1, par 103
(h) If expenses are classified by function, as a minimum,
including depreciation, amortisation expense and
disclose the cost of sales separately from other expenses.
o0 0
employee benefits expense.
(i) Employee benefits-disclose: o 0
(2) the expense for defined contribution plans; IAS 19, par 46 00 0
IAS 19, par 120A(g)
(3) for defined benefit plans - the total expense for
each of the following, and the line item(s) of the income
o 0
statement in which they are included:

o0 0
a. current service cost; b. interest cost; c.
expected return on plan assets; o0 0
o0 0
d. expected return on any reimbursement right
recognised as an asset; o0 0

o0 0
e. actuarial gains and losses; f. past
service cost; and g. the effect of any curtailment or o0 0
settlement.
o0 0



Client : Inmobiliaria de Hospitalidad San Rafael, S. A. Year End : 31122010


Applicable, But information
Item No. ~Reference~N1AjYesllnfol Not Required -- Explanation
(4) for defined benefit plans: a. the actual
return on plan assets; and IAS 19, par 120A(m) 0 0
o0 0
b. the actual return on any reimbursement
right recognised as an asset; o0 0

the expense resulting from other long- IAS 19, par 131 00 0
term employee benefits, if significant; and

(6) the expense resulting from termination benefits, if IAS 19, par 142 00 0
significant.

Q) Disclose research and development expenditure
recognised as an expense during the period.
IAS 38, par 126 00 0
IAS 21, par 52(a)
(k) Disclose the amount of foreign exchange differences
recognised in profit or loss except for those arising on
financial instruments measured at fair value through 00 0
profit or loss in accordance with IAS 39.
IAS 36, par 126(a)-(b)
(I) Disclose for each class of assets the following amounts
recognised during the period, and the line item(s) of the income
o 0
statement in which they are included:
(1) impairment losses; and 00 0
(2) reversals of impairment losses.
00 0
IAS 38, par 118(d); FIRS
(m) Disclose the following amounts recognised during the
period and the line item(s) of the income statement in which they
are included:
3, par 67(g) 0 0
amortisation of intangible assets (by each class);
and
00 0

(2) excess of acquirer's interest in the net fair value of
o0 0
acquiree's assets, liabilities and contingent
liabilities over cost recognised as income.
(n) Investment property- disclose: IAS 40, par 75(f) 0 0
(1) rental
income; 00 0
(2) direct operating expenses including repairs and
maintenance arising from investment property o0 0
that generated rental income during the period;
direct operating expenses including repairs and
maintenance arising from investment property 00 0
that did not generate rental income during the
period; and

IAS 40, par 32C
(4) the cumulative change in fair value recognised in profit or
loss on a sale of investment property from a pool of assets in which
the cost model is 00 0
used into a pool in which the fair value model is used.

PricewaterhouseCoopers LLP 19 02 Sep
2011


Year End : 31122010


Reference N/A I Yes Info)
No. Not Required -- Explanation

(o) Disclose the following material items resulting from IFRS 7, par 20 0 0
financial assets and financial

liabilities: (1) income;
000

(2) expense;
000
the following:

(3) net gains or losses on:
(1) gains; and o 0 0
a. financial assets or financial liabilities at fair
000
value through profit or loss, showing
separately those on financial assets or
(4) losses.financial liabilities designated as such upon
initial recognition, and those on financial 000
assets or liabilities that are classified as held
for trading in accordance with IAS 39;
(p) The disclosures in paragraph (o) above should include
b. available-for-sale financial assets, showing
IFRS 7, par 20 0 0
separately the amount of gain or loss
recognised directly in equity during the
period, and the amount removed from
equity and recognised in profit or loss for
the period;

c. held-to-maturity
investments;
d. loans and receivables; and

e. financial liabilities measured at amortised
cost;

(2) total interest income and total interest expense
(calculated using the effective interest method) 000
for financial assets or liabilities that are not at fair
value through profit or loss;

fee income and expense (other than amounts
included in determining the effective interest 000
rate) arising from:

a. financial assets and liabilities that are not
at fair value through profit or loss; and

b. trust and other fiduciary activities that
result in the holding or investing of assets
on behalf of individuals, trusts, retirement
benefit plans, and other institutions;

(4) :interest income on impaired financial assets;
and 000000
(5) the amount of any impairment loss for each class
of financial asset.


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