No power train without Miba technology
No power train without Miba technology
No power train without Miba technology
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and credit ratings of contracting parties). The cash flows of financial instruments are discounted<br />
to the balance sheet date for this purpose.<br />
All financial assets and liabilities are measured as of the settlement date. The financial<br />
assets and liabilities are derecognized (removed from the balance sheet) when the rights<br />
to payment from this investment have expired or have been transferred, and <strong>Miba</strong> has<br />
essentially transferred all the risks and rewards incidental to ownership of the asset.<br />
6. Revenue recognition<br />
Revenue from the sale of products and goods is recognized at the time the risks and benefits<br />
are transferred to the buyer.<br />
Revenues from long-term construction contracts are recognized in accordance with IAS 11<br />
on the basis of the stage of completion.<br />
The percentage of completion is determined by the ratio between the contract cost incurred<br />
by the balance sheet date and the estimated total contract cost.<br />
Interest income is recognized in proportion to time based on the effective interest yield of<br />
the asset. Dividend income is reported at the time the legal claim arises.<br />
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