CREDIt RAtING OF ANADOLU EFES

Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2010
(Currency - Unless otherwise indicated thousands of Turkish Lira (TRL))
NOTE 2. BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (continued)
2.24 Revenue
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group and the
revenue can be reliably measured. Revenues are stated net of discounts and returns, value added and sales
taxes. The following specific recognition criteria must also be met before revenue is recognized:
a) Sale of Goods
Revenue is recognized when the significant risks and rewards of ownership of the goods have passed to the
buyer and the amount of revenue can be measured reliably.
b) Interest Income
Interest income is recognized as the interest accrues. Interest income is reflected under the “financial income”
in the consolidated income statement.
c) Dividend Income
Dividend income is recognized when the right to collect the dividend is established.
2.25 Borrowing Costs
Borrowing costs include interest charges and other costs incurred in connection with the borrowing of funds.
Borrowing costs that are directly attributable to the acquisition or construction of a qualifying asset are
capitalized. Borrowing costs other than these are expensed as incurred.
2.26 Segment Reporting
The Group management monitors the operating results of its three business units separately for the purpose of
making decisions about the resource allocation and performance assessment. The three operating segments
are Turkey Beer Operations (Turkey Beer) which is conducted by the Company, International Beer Operations
(International Beer) which is conducted by EBI and Soft Drinks Operations (Soft Drinks) which is conducted
by CCİ.
Segment performance is evaluated based on profit from operations before depreciation, amortization and noncash
expenses (EBITDA). EBITDA has been determined as the optimum indicator by the Group management
for the evaluation of the performance of the operating segments by considering the comparability with the
entities in the same business (Note 5).
ANADOLU EFES ANNUAL REPORT 2010
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