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

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Tax accruals and other accruals are recognised respectively at the settlement value/amount that is required according to reasonable and prudent business judgement, taking into account all identifiable risks and doubtful accounts. Reserves with a residual term of longer than one year were discounted against their corresponding residual term using the average market interest rates published by the German Central Bank. Liabilities Liabilities are recognised at their redemption amount. Deferred taxes Deferred taxes were determined for the temporal differences between the commercial and the tax valuation rates of assets and liabilities as from April 1, 2010. The determining of the deferred taxes was based on the combined income tax rates, which currently stand at 31.23 per cent. The combined income tax rates include corporation tax, business tax and the solidarity surcharge. A recognised deferred tax liability was offset on the balance sheet date. Foreign Currency exchange rates Short-term foreign currency receivables and foreign currency payables were converted using the exchange rates applicable on the days that the transactions were booked. The value of short-term receivables or payables in foreign currency wee measured in accordance with the lower or highest value principle on the balance sheet date. No long-term foreign currency receivables or foreign currency payables existed on the balance sheet date. The valuation principles remained unchanged as compared to the previous year. The exception here were the valuation differences that form part of the BilMoG changeover process. 4
D. Balance Sheet Details 1. FIXED ASSETS 1.1. INTANGIBLE ASSETS Software Customer bases Goodwill Total '000 euros '000 euros '000 euros '000 euros Acquisition costs 4,513 17,419 299 22,231 Additions 2010/2011 127 0 0 127 Disposals 2010/2011 217 0 0 217 March 31, 2011 4,423 17,419 299 22,141 Accumulated depreciations April 1, 2010 3,777 12,854 7 16,638 Additions 2010/2011 312 1,105 30 1,447 Disposals 2010/2011 163 0 0 163 March 31, 2011 3,926 13,959 37 17,922 Net carrying amount March 31, 2011 Net carrying amount March 31, 2010 497 3,460 262 4,219 736 4,565 292 5,593 The column "Software" contains property rights acquired and similar rights and assets as well as licences to such rights and assets. The Company writes off acquired property rights on a straight-line basis over a period of two to five years. 1.2. TANGIBLE ASSETS Fixtures . '000 euros Other property, plant and equipment. '000 euros Total '000 euros Acquisition costs 63 2,919 2,982 Additions 2010/2011 6 519 525 Disposals 2010/2011 0 163 163 March 31, 2011 69 3,275 3,344 Accumulated depreciations April 1, 2010 39 2,138 2,177 Allocations 2010/2011 6 455 461 Disposals 2010/2011 0 162 162 March 31, 2011 45 2,431 2,476 Net carrying amount March 31, 2011 Net carrying amount March 31, 2010 24 844 868 24 781 805 The "Disposals 2010/2011" item in "Other property, plant and equipment" is accounted for in the main by the scrapping of individual items. 5
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 and 40: P&I Personal & Informatik AG, Wiesb
Page 41: scheduled depreciation has been car
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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