annual financial statement 2011 - conwert Immobilien Invest SE

Annual Financial Statement 2011
1.2. Non-current assets
1.2.1. Property, plant and equipment
Property, plant and equipment consist chiefly of real estate that is carried at acquisition or
production cost less ordinary depreciation.
Ordinary depreciation is calculated according to the straight-line method. Properties are
depreciated over a useful life of 50 years.
An impairment loss was recognised in cases where the fair value of an object was lower than
its depreciated cost.
1.2.2. Financial assets
Financial assets are valued at cost less any necessary impairment losses. Impairment charges
are recognised to investments in other companies and non-current securities if the decline in
value is considered to be lasting.
Treasury shares are always written down to the lower of purchase price and market price as of
the respective balance sheet date.
1.3. Current assets
1.3.1. Receivables
Receivables are recognised at nominal value and shown in detail on the balance sheet.
Recognisable individual risks are reflected in the use of a lower value that is appropriate
under the given circumstances.
1.3.2. Deposits with financial institutions
These items are carried at nominal value.
1.4. Equity
Equity comprises issued capital, the appropriated share premium, reserves, profit or loss
carried forward and profit or loss for the year.
1.5. Provisions
1.5.1. Other provisions
Other provisions are created in accordance with the principle of conservatism for all
identifiable risks and obligations that cannot be quantified or are uncertain at the time the
financial statements are prepared. They reflect the amounts required by reasonable business
judgment.
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