No power train without Miba technology
No power train without Miba technology
No power train without Miba technology
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92<br />
7. Estimates and uncertainties in discretionary evaluations and assumptions<br />
To a certain degree, the Consolidated Financial Statements are based on estimates and<br />
assumptions affecting the stated assets and liabilities, the disclosure of other liabilities on<br />
the balance sheet date and income and expenses for the reporting period. The amounts<br />
that actually result in the future may differ from these estimates. The principle of presenting<br />
a “true and fair view” has also been unconditionally followed when using estimates.<br />
Furthermore, the preparation of the Consolidated Financial Statements requires the<br />
assessment of future developments. For example, especially for the valuation of existing<br />
social capital obligations, assumptions with regard to discounting rate, retirement age, life<br />
expectancy and future salary and pension increases are used.<br />
Property, plant and equipment are depreciated on a straight-line basis on the basis of estimated<br />
useful life.<br />
Furthermore, estimated allowances for usability are used in the valuation of inventories.
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