Annual Financial Statement P&I Personal & Informatik AG April 1 ...

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during the period in which an asset was acquired or a liability was fulfilled. Deferred taxes were posted as offsets in accordance with the options listed in § 274 Para. 1, Sentence 3, HGB. In the past no deferred tax liabilities were entered as the valuation difference between the commercial and tax balance sheets in accordance with the “Timing concept” stipulated in § 274 Para. 1, HGB (old), as they did not affect net income due to the existing consolidations. Deferred tax liabilities amounting to 870,000 euros have been posted in the balance as a result of the BilMoG regulations being applied for the first time. The option listed in § 248 Para. 2, HGB for activating self-created intangible assets was not exercised. The subscribed capital was valued at face value less the notional value of the own shares held and it amounted to 177,000 euros. Own shares were written off from the assets side as of April 1, 2010 and the reserves for purchasing own shares were reversed, and the amount released was offset against the own shares. The excess amount has been offset against the other revenue reserves. C. Notes on the Accounting and Valuation Methods Intangible and Tangible Assets Acquired intangible assets are shown at their acquisition cost. Acquired copyrights and similar rights and assets will be linearly written off over two to five years. Other intangible assets acquired are systematically written off on a three-year straight-line basis. The customer base results from the acquisition of businesses or companies in the software industry and is written down on a straight-line basis over a period of between five and ten years Goodwill arising from the acquisition of businesses or companies as well as mergers or accreditations. Goodwill will be written off linearly over ten years. The depreciation period corresponds to the average utilisation period in the context of a market adjustment. No new goodwill was recorded during the fiscal year that has just ended. Property, plant, and equipment items are measured at their acquisition cost and, insofar as they are depreciable, are written down according to their estimated useful operating life of two to thirteen years. Non-scheduled depreciation is carried out if a lower valuation is mandatory. Fixtures are written off on a straight-line basis over four years, but no longer than the residual period of the lease at the time of their installation. Vehicles are written off on a straight-line basis over a period of five to six years. Ordinary computer hardware is written off on a straight-line basis over two to three years, while main frame computers or servers are written off on a straight-line basis over a period of seven years. Other business fixtures and equipment are written off on a straight-line basis over a period of between four and thirteen years. From April 1, 2010, low value fixed assets of up to 410 euros (previous year: 150 euros) net in individual value are written off completely in the year of their purchase. For fixed assets with an individual value of between 151 to 1,000 euros, a compound item, as from January 1, 2008 until March 31, 2010, was formed, written off on a straight-line basis over a period of five years Financial Assets Investments are measured at their acquisition cost. They are only depreciated to a lower value at balance sheet date if the decrease in value is expected to be lasting. Where a non- 2
scheduled depreciation has been carried out on the lower fair value of investments in financial assets, should the grounds for the depreciation no longer exist at a later balance sheet date, revaluation will take place. Current Assets Inventory items are recognised at their acquisition cost or historical cost respectively or at the lower fair value. Receivables from sales of software are recognised insofar as a valid signed contract exists with the customer without right of rescission and the software has been delivered. Receivables from maintenance sales are recognised proportionately to the period of the contract. The proportion of the maintenance service income that has not yet been realised is recorded as deferred items. Receivables from consulting and training services are recognised according to the type of service performed. The receivables are shown at their acquisition costs. Valuation adjustments on receivables are made according to the probability of bad and doubtful debts occurring. A general provision for bad and doubtful debts of 1 per cent (previous year: 1 per cent) was formed for debts not individually adjusted. Short-term investments and liability insurance claims, which are used to safeguard pension liabilities or comparable liabilities due over the long-term and to fulfil the prerequisites stipulated in § 246 Para. 2, Sentence 2, HGB for netting the relevant liabilities, were measured and posted together with the fair value in accordance with § 253 Para. 1. Sentence 4, HGB on the balance sheet date. The securities, which were used for safeguarding partial employment liabilities or comparable liabilities due over the long-term in the previous year, were also posted without being offset under other securities, together with their acquisition costs or their lowest fair value. Other tangible assets included in the corporation tax credit have been valued with a present value of 73,000 euros (previous year: 82,000 euros). The par value as of March 31, 2011 amounts to 85,000 euros (previous year: 97,000 euros) and the 3,000 euros interest appreciation for fiscal 2010/2011. Bank balance credits were posted at their nominal values. Deferred items Deferred items and accrued income are determined commensurate with the accrual accounting of expenditure. Deferred items takes into account income due after balance sheet date which has been received before balance sheet date. Subscribed capital Subscribed capital was posted at its nominal value. The notional value of the own shares holding was posted as 177,248 euros. The provisions for the purchasing of own shares were liquidated on April 1, 2010 and the sum that was released was offset against the value of the own shares holding. The subscribed capital was reduced by the nominal value of the own shares holding. The excess amount has been offset against other revenue reserves. Accruals 3
Page 1 and 2: Perspectives Annual Financial State
Page 3 and 4: P&I Personal & Informatik Combined
Page 37 and 38: P & I Personal & Informatik AG, Wie
Page 39: P&I Personal & Informatik AG, Wiesb
Page 43 and 44: D. Balance Sheet Details 1. FIXED A
Page 45 and 46: 2. CURRENT ASSETS 2.1. INVENTORIES
Page 47 and 48: 3. DEFERRED ITEMS "Deferred items"
Page 49 and 50: At the next AGM the Board of Direct
Page 51 and 52: deferred and will be included in th
Page 53 and 54: The special details relating to the
Page 55 and 56: F. Other Details 1. NUMBER OF EMPLO
Page 57 and 58: Dr Thorsten Dippel Associate Direct
Page 59 and 60: to which Argon GmbH belongs is Carl
Page 61 and 62: (this corresponds to 5,954,192 out
Page 63 and 64: voting rights (corresponding to 5,7
Page 65 and 66: "To the best of our knowledge, and
Page 67 and 68: The Supervisory Board held five reg
Page 69: Auditors' certificate "We have exam

Annual Financial Statement P&I Personal & Informatik AG April 1 ...

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