pdf (2.5 MB) - METRO Group

More documents

Recommendations

Info

METRO GROUP : ANNUAL REPORT 2010 : BUSINESS → NOTES : NOTES TO ThE GROuP ACCOuNTING PRINCIPlES ANd METhOdS business combination. In accordance with IAS 36 (Impairment of Assets), a CGu is defined as the smallest identifiable group of assets that generates cash inflows largely independently from the cash inflows of other assets or groups of assets. As a rule, single locations represent CGus at METRO GROuP. Goodwill within METRO GROuP is monitored at the level of the organisational unit sales division per country for internal management purposes. Goodwill impairment tests are therefore conducted at the level of this respective group of cash-generating units. Capitalised goodwill is tested for impairment regularly once a year, or more frequently if changes in circumstances indicate a possible impairment. If applicable, it will be written down on an unscheduled basis. No write-back is performed if the reasons for a non-scheduled write-down in previous years have ceased to exist. To determine a possible impairment, the recoverable amount of a CGu is compared to the respective carrying amount of the CGu. The recoverable amount is the higher of value in use and fair value less selling expenses that is determined as the present value of future cash flows. An impairment of the goodwill allocated to a CGu applies only if the recoverable amount is lower than the carrying amount. Purchased other intangible assets are recognised at cost of purchase. Internally generated intangible assets are capitalised at cost of manufacture for their development if the capitalisation criteria of IAS 38 (Intangible Assets) are met. The cost of manufacture includes all expenditure directly attributable to the manufacturing process. This may include the following costs: Direct costs direct material costs direct production costs Special direct production costs Overhead Material overhead (directly attributable) Production overhead depreciation of fixed assets development-related administrative costs → p. 162 debt capital costs are factored into the determination of the cost of production only in the case of so-called qualified assets pursuant to IAS 23 (Borrowing Costs). qualified assets are defined as non-financial assets that take a substantial period of time to prepare for their intended use or sale. Research costs are not capitalised but recognised immediately as expenses. All other intangible assets have a limited useful life and are therefore subject to scheduled straight-line write-downs. Capitalised self-created and purchased software as well as comparable intangible assets are written down over a period of three to five years, licenses over their useful life. These intangible assets are examined for indications of impairment at each closing date. Non-scheduled amortisation is effected if the recoverable amount is below the amortised cost. The assets are written back if the reasons for non-scheduled amortisation implemented in previous years have ceased to exist. Tangible assets Tangible assets used in operations for a period of more than one year are recognised at cost less scheduled depreciation. The optional new measurement method under IAS 16 (Property, Plant and Equipment) is not applied. The manufacturing cost of internally generated assets includes both direct costs and appropriate portions of attributable overhead. financing costs are only capitalised in relation to qualified assets as a component of cost of purchase or production. Investment allowances received are offset against the purchase or manufacturing cost of the corresponding asset. Reinstatement obligations are included in the cost at the discounted settlement value. The capitalised reinstatement costs are proportionately depreciated over the useful life of the asset.
METRO GROUP : ANNUAL REPORT 2010 : BUSINESS → NOTES : NOTES TO ThE GROuP ACCOuNTING PRINCIPlES ANd METhOdS Tangible assets are depreciated solely on a straight-line basis. Throughout the Group, scheduled depreciation is based on the following useful lives: Buildings 10 to 33 years leasehold improvements 8 to 15 years or shorter rental contract duration Business and office equipment 3 to 13 years Machinery 3 to 8 years The assets will be written down using non-scheduled depreciation if there are any indications of impairment and if the recoverable amount is below the amortised cost. The assets are written back if the reasons for non-scheduled depreciation have ceased to exist. In accordance with IAS 17 (leases), economic ownership of leased assets is attributable to the lessee if all the material risks and rewards incidental to ownership of the asset are transferred to the lessee (finance lease). If economic ownership is attributable to METRO GROuP companies, the leased asset is capitalised at fair value or at the lower present value of the minimum lease payments when the lease is signed. In analogy to the comparable purchased tangible assets, leased assets are subjected to scheduled depreciation over their useful lives or the lease term if the latter is shorter. however, if it is sufficiently certain that ownership of the leased asset will be transferred to the lessee when the term of the lease ends, the asset is depreciated over its useful life. Payment obligations resulting from the future lease payments are carried as liabilities. Investment properties In accordance with IAS 40 (Investment Property), investment properties comprise properties that are held to earn rentals and/or for capital appreciation. In analogy to tangible assets, they are recognised at cost less scheduled and potentially required non-scheduled depreciation based on the historical cost model. Measurement at fair value through profit or loss does not apply. Scheduled depreciation of investment properties is effected over a useful life of 15 to 33 years. furthermore, the fair value of these properties is stated in the notes. It is determined either on the basis of recognised measurement methods or independent expert opinions. → p. 163 Financial assets Financial assets that do not represent associated companies under IAS 28 (Investments in Associates) or joint ventures under IAS 31 (Interests in Joint Ventures) are recognised in accordance with IAS 39 (financial Instruments: Recognition and Measurement). depending on the classification required under IAS 39, financial assets are capitalised either at (amortised) cost or fair value, and recognised on the date of purchase. Investments are assets to be classified as “available for sale”. They are measured at their fair values including transaction costs for the first reporting period. If the fair value of these financial assets can be reliably determined in subsequent periods, they are recognised at fair value. If there are no active markets and if the fair values cannot be determined without undue effort, they are recognised at cost. Securities are classified as “held to maturity”, “available for sale” or “fair value through profit or loss”. The category “fair value through profit or loss” comprises all financial assets classified as “held for trading” as the fair value option of IAS 39 is not applied within METRO GROuP. This is underscored by the fact that the entire category is described as “held for trading” in the notes to the consolidated financial statements. Loans are classified as “loans and receivables” and therefore recognised at amortised cost based on the effective interest method. financial assets designated as hedged items as part of a value hedge are recognised at fair value through profit or loss. fluctuations in the value of “available for sale” financial assets are recognised in equity without being reported as a profit or loss – taking account of deferred taxes where applicable. The amounts recognised without being reported as a profit or loss are not transferred to net income for the respective period until they are disposed of or a sustained impairment of the assets has occurred. If there are any indications of impairment, the respective financial asset is tested for impairment and, if necessary, the asset is written down by way of non-scheduled depreciation. If, at a later date, the reasons for this impairment cease to exist, the asset is written back at amortised cost.
Page 1 and 2:
Metro GrouP 2010 strateGY investMen
Page 3 and 4:
Metro Group : annual report 2010 :
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
METRO GROUP : ANNUAL REPORT 2010 :
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64: METRO GROUP : ANNUAL REPORT 2010 :
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
show all

pdf (2.5 MB) - METRO Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?