SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Report 2010 on Form 20-F
Overview
Item 5: Operating and Financial Review and Prospects 51
Item 5: Operating and Financial Review and Prospects
The following discussion and analysis should be read in conjunction with the consolidated financial statements
and the related notes to them included in “Item 18: Financial Statements” of this document, on which we have
based this discussion and analysis. Our consolidated financial statements for the years ended December 31,
2010, 2009 and 2008 have been audited by KPMG AG Wirtschaftsprüfungsgesellschaft, as described in the
“Report of Independent Registered Public Accounting Firm” on page F-4.
We have prepared our consolidated financial statements in accordance with IFRS as issued by the International
Accounting Standards Board (“IASB”) and as endorsed by the European Union (“EU”).
Significant Accounting Policies and Critical Accounting Estimates
Our significant accounting policies are essential to understanding our reported results of operations and financial
condition. Certain of these accounting policies require critical accounting estimates that involve complex and
subjective judgments and the use of assumptions, some of which may be for matters that are inherently uncertain
and susceptible to change. Such critical accounting estimates could change from period to period and have a
material impact on our financial condition, changes in financial condition or results of operations. Critical accounting
estimates could also involve estimates where management could have reasonably used another
estimate in the current accounting period. Actual results may differ from these estimates if conditions or underlying
circumstances were to change. See Notes 01 “Significant Accounting Policies” and 02 “Critical Accounting
Estimates” to the consolidated financial statements for a discussion on our significant accounting policies and
critical accounting estimates.
We have identified the following significant accounting policies that involve critical accounting estimates:
— Fair value estimates
— Reclassification of financial assets
— Impairment of financial assets
— Impairment of non-financial assets
— Deferred tax assets
— Legal and regulatory contingencies and uncertain tax positions
Recently Adopted Accounting Pronouncements and New Accounting Pronouncements
See Note 03 “Recently Adopted and New Accounting Pronouncements” to the consolidated financial statements
for a discussion on our recently adopted and new accounting pronouncements.