T2IB03355 Clover_S1.indd

Notes to the consolidated financial statements / Aantekeninge tot die gekonsolideerde finansiële state
for the year ended/vir die jaar geëindig 30.6.2012
Goodwill is reviewed for impairment annually or more frequently if events or changes in
circumstances indicate that the carrying value may be impaired. Impairment losses cannot
be reversed in future periods.
(h) Inventories
Inventories are valued at the lower of cost and net realisable value. Costs incurred in
bringing each product to its present location and condition are accounted for as follows:
• Raw materials: purchase cost on a first-in, first-out basis.
• Finished goods and work in progress: cost of direct materials and labour and a portion
of manufacturing overheads, based on normal operating capacity but excluding finance
cost.
Net realisable value is the estimated selling price in the ordinary course of business, less
estimated costs of completion and the estimated costs necessary to make the sale.
(i) Impairment of non-financial assets
The Group assesses at each reporting date whether there is an indication that an asset
may be impaired. If any such indication exists, or when annual impairment testing for an
asset is required, the Group makes an estimate of the asset’s recoverable value. An asset’s
recoverable value is the higher of an asset’s or cash-generating unit’s fair value less costs
to sell and its value in use, and is determined for an individual asset, unless the asset does
not generate cash inflows that are largely independent of those from other assets or group
of assets. Where the carrying amount of an asset exceeds its recoverable amount, the
asset is considered impaired and is written down to its recoverable amount. In assessing
value in use, the estimated future cash flows are discounted to their present value using
a pre-tax discount rate that reflects current market assessments of the time value of
money and the risks specific to the asset. Impairment losses of continuing operations are
recognised in profit or loss in those expense categories consistent with the function of the
impaired asset.
For assets excluding goodwill, an assessment is made at each reporting date as to whether
there is any indication that previously recognised impairment losses may no longer exist
or may have decreased. If such indication exists, the recoverable amount is estimated. A
previously recognised impairment loss is reversed only if there has been a change in the
estimates used to determine the asset’s recoverable amount since the last impairment
loss was recognised. If that is the case, the carrying amount of the asset is increased to its
recoverable amount. The increased amount cannot exceed the carrying amount that would
have been determined, net of depreciation, had no impairment loss been recognised for the
asset in previous years. Such a reversal is recognised in profit or loss. After such a reversal,
the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying
amount, less any residual value, on a systematic basis over its remaining useful life.
se belang in die netto billike waarde van die identifiseerbare bates, laste en voorwaardelike
aanspreeklikheid. Na aanvanklike erkenning word klandisiewaarde gemeet teen
kosprys min enige opgehoopte waardedalingsverliese. Klandisiewaarde word jaarliks vir
waardedaling hersien, of meer dikwels indien gebeure of veranderinge in omstandighede
daarop dui dat ’n daling van die drawaarde voorkom. Waardedalingsverliese kan nie in
toekomstige periodes teruggeskryf word nie.
(h) Voorrade
Voorrade word gewaardeer teen die laagste van kosprys en netto realiseerbare waarde. Die
koste om elke produk in sy huidige toestand by sy huidige plek te kry, word soos volg in
berekening gebring:
• Grondstowwe: aankoopkoste volgens die eerste-in-eerste-uit-metode.
• Klaarprodukte en onvoltooide werk: koste van direkte materiale en arbeid en ’n deel van
vervaardigingsbokoste, gegrond op normale bedryfsvermoë maar met uitsluiting van
finansieringskoste.
Netto realiseerbare waarde is die geraamde verkoopprys in die gewone gang van sake,
min geraamde koste van voltooiing en die geraamde koste benodig om die verkoop af te
handel.
(i) Waardedaling van nie-finansiële bates
Die Groep bepaal op elke verslagdoeningsdatum of ’n aanduiding bestaan dat ’n bate se
waarde gedaal het. As enige sodanige aanduiding voorkom, of wanneer jaarlikse toetse
vir waardedaling van ’n bate verlang word, maak die Groep ’n raming van die bate se
verhaalbare waarde. Die verhaalbare waarde van ’n bate is die hoogste van die bate of
kontantgenererende eenheid se billike waarde min verkoopskoste en sy gebruikswaarde,
en dit word vir ’n individuele bate bepaal tensy die bate nie ’n invloei van kontant genereer
wat grootliks onafhanklik is van dié van ander bates of groep bates nie. Wanneer die
drawaarde van ’n bate sy verhaalbare waarde oorskry, word die waarde van die bate
verlaag tot die verhaalbare waarde. Wanneer die gebruikswaarde bepaal word, word die
geraamde toekomstige kontantvloei tot huidige waarde verdiskonteer teen ’n voorbelastingdiskontokoers
wat huidige markbepalings van die tydwaarde van geld en die risiko’s
kenmerkend van die bate weerspieël. Waardedalingsverliese van voortgesette bedrywighede
word in wins of verlies erken in die uitgawekategorieë wat met die funksie van die verswakte
bate ooreenstem.
Vir bates benewens klandisiewaarde, word ’n evaluering op elke verslagdoeningsdatum
gemaak om te bepaal of enige voorheen erkende waardedalings moontlik nie meer
bestaan nie of intussen verminder het. Indien sodanige aanduiding voorkom, word die
verhaalbare bedrag geraam. ’n Voorheen erkende waardedaling word teruggeskryf slegs as
daar ’n verandering was in die ramings wat gebruik is om die bate se verhaalbare bedrag te
bepaal sedert die erkenning van die vorige waardedaling. Indien wel, word die drabedrag
Clover Geïntegreerde Jaarverslag 2012 – 125