| Standard | Effective date | Descriptions | ||
| IFRS 15 | 01/2018 | Revenue from Contracts with Customers | ||
| IFRS 9 | 01/2018 | Financial Instruments | ||
The Company has not yet determined what impact the new standards, amendments or interpretations will have on the financial statements.
The interim financial statements as of and for the nine months ended September 30, 2015 and 2014 were authorized for issue by the Management Board on November 12, 2015.
2. Summary of significant accounting policies
The principal accounting policies applied in the preparation of these interim financial statements are set out in the financial statements as of December 31, 2014, which can be found in the Company’s Annual Report on Form 20-F that was filed with the U.S. Securities and Exchange Commission. These policies have been applied to all financial periods presented.
3. Financial assets
The financial assets as of September 30, 2015 primarily consisted of shares of bond funds (kEUR 33,959), a note receivable (kEUR 1,069) and one customer loan (kEUR 264). The investments in the bond funds and note receivable are measured at fair value, and any unrealized gain or loss in the value of such shares is recorded as other comprehensive income on our consolidated statements of comprehensive loss.
4. Inventories
| 09/30/2015 | 12/31/2014 | |||||||
| (€ in thousands) | ||||||||
| Raw materials | 654 | 473 | ||||||
| Work in progress | 7 388 | 3 735 | ||||||
| Finished goods | 1 227 | 1 039 | ||||||
| Total | 9 269 | 5 247 | ||||||
