AMPER, SA and Subsidiaries Consolidated Financial Statements for ...

The consolidated financial statements of the Amper Group for 2011 were prepared on the basis of the
accounting records kept by the Company and by the other Group companies. Each company prepares
its financial statements according to the accounting principles and criteria in force in the country in
which it carries out its operations. Therefore, the necessary adjustments and reclassifications have
been made in the consolidation process to ensure homogeneity among these principles and criteria to
make them compliant with IFRSs.
The Consolidated Financial Statements for 2010 included for comparative purposes were also prepared
in accordance with the IFRSs adopted by the European Union that are consistent with those applied in
2011.
Based on the expectations arising from the application of the approved business plan, and considering
the progress made in renegotiating the debt with financial entities during 2011, the Directors consider
that the application of the principle of 'going concern' is suitable in the preparation of the Financial
Statements.
2.3 Responsibility for information, estimates made and litigation relevant to the application of
accounting policies
The information contained in these Consolidated Financial Statements is the responsibility of the
Administrators of the Group.
In preparing the Consolidated Financial Statements, estimates made by the Group's management were
occasionally used to quantify some of the assets, liabilities, revenues, expenses and commitments that
appear in them. Basically, these estimates refer to:
• The appraisal of assets and goodwill to determine the existence of losses due to impairment
(Notes 3a and 3d), and also the recoverable sum of assets through deferred tax (Note 4l).
• The working life of the tangible and intangible assets (Notes 3b, 3c).
• The hypotheses used to calculate the fair value of the financial instruments (Note 3e).
• The probability of occurrence and the amount of liabilities of an indeterminate sum or
contingent liabilities (Note 3i).
• Provision for unissued invoices and unreceived invoices.
• Income from contracts is recognized using the degree of completion method. This method is
based on estimates of the degree of completion of the project. Depending on the methodology
used to determine the progress of the project, the significant estimates include total contract
cost, the costs required to complete the works, total income from the contract, contract risks and
other litigation (Note 3j).
Despite the fact that these estimates were made on the basis of the best information available at the
time of preparation of this Consolidated Financial Statements, based on the facts analysed, it is
possible that events may take place in the future that could oblige us to modify them (upwards or
downwards) in subsequent financial years. This would be done prospectively according to IAS-8,
recognising the effects of changed accounting estimates on future consolidated financial statements.
10