AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 505)

F-264

Accounting policies

If not stated otherwise, assets and liabilities are shown at nominal value.

An asset is disclosed in the balance sheet when it is probable that the expected future economic benefits that are

attributable to the asset will flow to the entity and the cost of the asset can be reliably measured. A liability is

disclosed in the balance sheet when it is expected to result in an outflow from the entity of resources embodying

economic benefits and the amount of the obligation can be measured with sufficient reliability.

Income is recognised in the profit and loss account when an increase in economic potential related to an increase

in an asset or a decrease of a liability has arisen, the size of which can be estimated with a sufficient reliability.

Expenses are recognised when a decrease in the economic potential related to a decrease in an asset or an in-

crease of a liability has arisen, the size of which can be estimated with sufficient reliability.

If a transaction results in a transfer of future economic benefits and or when all risks relating to assets or liabili-

ties transfer to a third party, the asset or liability is no longer included in the balance sheet. Assets and liabilities

are not included in the balance sheet if economic benefits are not probable or cannot be measured with sufficient

reliability.

The revenue and expenses are allocated to the period to which they relate. Revenues are recognised when the

company has transferred the significant risks and rewards of ownership of the goods to the buyer.

The preparation of the financial statements requires the management to form opinions and to make estimates and

assumptions that influence the application of principles and the reported values of assets and liabilities and of

income and expenditure. The actual results may differ from these estimates. The estimates and the underlying

assumptions are constantly assessed. Revisions of estimates are recognised in the period in which the estimate is

revised and in future periods for which the revision has consequences.

Principles for the translation of foreign currencies

The Company’s functional and reporting currency is the Euro

Transactions denominated in foreign currency are translated into the relevant functional currency of the group

companies at the exchange rate applying on the transaction date. Monetary assets and liabilities denominated in

foreign currency are translated into the functional currency at the balance sheet date at the exchange rate apply-

ing on that date. Non-monetary assets and liabilities in foreign currency that are stated at historical cost are trans-

lated into euros at the applicable exchange rates on the transaction date. Translation gains and losses are taken to

the profit and loss account as income or expenditure when incurred.

Financial instruments

Financial instruments include investments in shares, trade and other receivables, cash and cash equivalents, loans

and other financing commitments, trade and other current liabilities.

Financial instruments are initially recognised at fair value. If instruments are not carried at fair value through

profit and loss, then any directly attributable transaction costs are included in the initial measurement.

After initial recognition, financial instruments are valued in the manner described below.

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AEG 21604 G Bedienungsanleitung Seite 505