measure and monitor the processes and report results ... - Refresco.de

Termination benefits
Termination benefits are recognized as an expense when the Group
is demonstrably committed, without realistic possibility of withdrawal,
to a formal detailed plan to either terminate employment
before the normal retirement date or to provide termination
benefits as a result of an offer made to encourage voluntary
redundancy. Termination benefits for voluntary redundancies are
recognized as an expense if the Group has made an offer of
voluntary redundancy, it is probable that the offer will be accepted,
and the number of acceptances can be reliably estimated.
Short­term benefits
Short­term employee benefit obligations are measured on an
undiscounted basis and are expensed as the related service is
provided.
A liability is recognized for the amount expected to be paid
under short­term cash bonus or profit­sharing plans if the
Group has a legal or constructive obligation to pay this amount
as a result of past service provided by the employee and the
obligation can be reliably estimated.
2.13 Provisions
A provision is recognized if, as a result of a past event, the
Group has a legal or constructive obligation that can be reliably
estimated and it is probable that an outflow of economic
benefits will be required to settle the obligation. Provisions are
determined by discounting the expected future cash flows at
a pre­tax rate that reflects current market assessments of the
time value of money and the risks specific to the liability.
Restructuring
A provision for restructuring is recognized when the Group
has approved a detailed and formal restructuring plan, and
the restructuring has either commenced or been publicly
announced. Future operating costs are not provided for.
2.14 Revenue
Products sold
Revenue from the sale of products is measured at the fair value
of the consideration received or receivable, net of returns,
trade discounts and volume rebates. Revenue is recognized
when the significant risks and rewards of ownership have
been transferred to the buyer, recovery of the consideration is
probable, the associated costs and possible return of goods
can be estimated reliably, there is no continuing management
involvement with the goods, and the amount of revenue can be
measured reliably.
Contract manufacturing
Contract manufacturing consists of the provision of
manufacturing services and sale of the resultant product.
The nature and the risk profile of the contract with the
customer is key in determining whether the Group is providing
a manufacturing service or is selling a product.
Where the Group acts solely as a co­packer of products on
behalf of the customer and the risk profile and compensation
for the Group relates to the manufacturing activity, only the
revenue related to the rendering of manufacturing services is
recognized.
2.15 Government grants
Government grants are recognized at their fair value when it is
reasonably assured that the Group will comply with the conditions
attaching to them and that the grants will be received.
Government grants relating to property, plant and equipment
are deducted from the carrying amount of the asset.
Government grants relating to period costs are deferred and
recognized in the income statement over the period necessary
to match them with the costs they are intended to compensate.
2.16 Lease payments
Payments made under operating leases are recognized in profit
or loss on a straight­line basis over the term of the lease.
Lease incentives received are recognized, as an integral part of
the total lease expense, over the term of the lease. Minimum
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