AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 319)

100

101

F-78

Financial information prepared in currencies other than the Euro has been converted at the Euro rate per foreign

currency unit set out below:

Country Currency Closing rates

2009

Average rates

2009

Closing rates

2008

Average rates

2008

Canada CAD 0.66 0.63 0.59 0.64

China CNY 0.10 0.10 0.11 0.10

India INR 0.01 0.01 0.01 0.02

Malaysia MYR 0.20 0.20 0.21 0.20

Russia RUB 0.02 0.02 0.02 0.03

Singapore SGD 0.50 0.49 0.50 0.48

United Kingdom GBP 1.13 1.12 1.05 1.26

United States USD 0.69 0.72 0.72 0.68

c) Cash flow statements

Cash flow statement is prepared using the indirect method. Cash flows in foreign currencies have been translated

into Euro using the weighted average rates of exchange for the periods involved. Cash flows from derivative

instruments that are accounted for as fair value hedges or cash flow hedges are classified in the same category as

the cash flows from the hedged items. Cash flows from other derivative instruments are classified consistent with

the nature of the instrument.

Derivative financial instruments

The Group uses derivative financial instruments to hedge its exposure to foreign exchange and interest rate risks

arising from operational, financing and investment activities. Generally the Group seeks to apply hedge account-

ing in order to minimise the effects of foreign currency fluctuations in the income statement.

Derivatives that can be used are interest rate swaps, forward rate agreements, caps and floors and forward ex-

change contracts. Transactions are entered into with a limited number of counterparties with strong credit rat-

ings. Foreign currency and interest rate hedging operations are governed by an internal policy and rules (treasury

policy) approved and monitored by the Board. In accordance with its treasury policy, the Group does not hold or

issue derivative financial instruments for trading purposes.

Derivative financial instruments are recognised initially at fair value. Attributable transaction costs are recog-

nised in the income statement when incurred. Subsequent to initial recognition, derivative financial instruments

are measured at fair value and changes therein are accounted as described below. The fair value of forward ex-

change contracts and interest rate swaps are their quoted market price at the balance sheet date, being the present

value of the quoted forward price.

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