to download the 2012 registration document. - Groupe M6

2012 FINANCIAL STATEMENTS AND RELATED NOTESassets effectively rests on the determination of cash flows resulting from their use or the knownmarket value of the assets. It could turn out that the cash flows actually realised from theseassets differ significantly from initial projections. In the same manner, the market value of assets,particularly sports club players, can vary and differ from the previously recognised values;- the measurement, methods of usage and recoverable value of audiovisual rights recognised ininventories;- the valuation of retirement benefits, the measurement methods of which are detailed in Note4.14;- the valuation of commercial discounts (Note 4.17);- the determination of the amounts recognised as provisions for liabilities and charges given theuncertainties likely to affect the occurrence and cost of the events underlying the provisions;- the estimate of the recognition and recoverable value of deferred tax assets.Lastly, in the absence of standards or interpretation applicable to specific transactions, Groupmanagement uses its own judgement in defining and applying accounting policies which would providerelevant and reliable information, so that financial statements:- provide a true and fair view of the Group’s financial position, financial performance and cash flows;- reflect the economic substance of transactions;- are prepared in accordance with the principles of neutrality (objectiveness) and prudence;- and are complete in all material aspects.3.4. Presentation principlesPRESENTATION OF THE INCOME ISTATEMENTThe Group has presented the income statement based on the nature of expenses, as permitted by IAS 1- Presentation of financial statements.Operating profit is equal to consolidated net profit before taking into account:- finance income;- finance costs;- income tax;- share of profit of associates;- net profit from operations held for sale.PRESENTATION OF THE BALANCE BSHEETIn compliance with IAS 1, the Group presents current and non-current assets and liabilities separately onthe balance sheet. Considering the nature of the Group’s activities, this classification is based upon thetimescale in which the asset will be realised or the liability settled: “current” when this is within theoperating cycle or less than one year and “non-current” if longer.PRESENTATION OF CONTINGENT NGENT ASSETS AND LIABILITIESCommitments given in respect of purchases of rights are stated net of advances and account paymentspaid in this regard for the corresponding rights not yet recognised in inventories.3.5. Options retained in relation to measurement and recognition ofassets and liabilitiesSome of the international accounting standards make provision for options as concerns the measurementand recognition of assets and liabilities.Within this framework, the Group has retained the following:160 - M6 GROUP - 2012 REGISTRATION DOCUMENT