100 % FUTURE - ALNO

99
Exchange rate gains and losses are netted in the consolidated income statement.
The following exchange rates to the euro were used:
je EUR 31/12/2010 31/12/2009 Average exchange rate 2010 Average exchange rate 2009
GBP 0.8567 0.8999 0.8589 0.8917
CHF 1.2466 1.4876 1.3833 1.5102
4.SUMMARY OF SIGNIFICANT ACCOUNTING METHODS
Revenue recognition
Revenues are booked on the date on which risks are transferred after delivery, based on the conditions
of sale less returns, discounts, rebates and VAT. Only the product sales resulting from ordinary
business activities and the associated ancillary services are reported as revenues.
Income from services rendered is recorded in line with their percentage of completion if the amount
of income can be reliably determined, and it is likely that there will be an inflow of economic benefit.
Other income is recognized in line with the contractual agreements, or after a service has been
realized.
Financial result
The net financial result includes, in particular, interest income from cash investments, and interest
expenses on loans.
Interest income is recognized on the date on which it arises.
Financing costs are capitalized as part of cost if they can be attributed to a qualified asset. They
are otherwise expensed immediately.
Income taxes
Income tax assets and liabilities for the current and prior periods are measured at the amount
expected to be recovered from, or paid to, the tax authorities (IAS 12). Calculation of the amount
is based on tax rates and tax laws applying as of the reporting date.
“In addition, the deferred tax charges or refunds identified under IAS 12 arising from temporary
differences between the IFRS carrying amounts in the consolidated financial statement and the
local tax base, and from consolidation, are carried as either deferred tax assets or deferred tax
liabilities.” In addition, deferred tax assets may be carried for tax loss carryforwards if it is sufficiently
likely that the resultant tax reductions will actually occur in the future. The tax forecast for the next
four years is used to assess the impairment of deferred tax assets for tax loss carryforwards. The
policy continues to be applied that, when recognizing deferred tax assets, consideration is given
to assessing whether taxable temporary differences, which relate to the same tax authority and
same tax subject.
Deferred taxes are calculated on the basis of the tax rates that apply, or are expected with sufficient
certainty to apply, at the time of realization in the individual countries.