Annual Report 2002 - Agfa
Annual Report 2002 - Agfa
Annual Report 2002 - Agfa
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
(w) Expenses<br />
Interest income (expense)<br />
Interest income (expense) comprises interest payable on borrowings and interest<br />
receivable on funds invested. Other non-operating income (expense) comprises<br />
foreign exchange gains and losses with respect to non-operating activities and gains<br />
and losses on hedging instruments with respect to non-operating activities.<br />
Interest income is recognized in the income statement as it accrues, taking into<br />
account the effective yield on the asset. Dividend income is recognized in the<br />
income statement on the date that the dividend is declared.<br />
All interest and other costs incurred in connection with borrowings are expensed as<br />
incurred. The interest expense component of finance lease payments is recognized<br />
in the income statement using the effective interest rate method.<br />
1. Significant accounting policies<br />
continued<br />
Operating lease payments<br />
Payments made under operating leases are recognized in the income statement on a<br />
straight-line basis over the term of the lease.<br />
Lease incentives received are recognized in the income statement as an integral part<br />
of the total lease expense.<br />
<strong>Agfa</strong> annual report <strong>2002</strong><br />
52
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