annual report 2009 - bei der Hamborner REIT AG

Other provisions
The short-term provisions have been formed to the
extent of the estimated utilisation (best estimate)
without discounting and take into account all obligations
identifiable on the balance sheet date
which are based on business transactions or past
events and the extent and/or maturity of which is
uncertain. In the process, only third-party obligations
are taken into account for which it is probable that
an outflow of assets will result.
Provisions for liabilities that do not result in an
encumbrance of assets in the subsequent year are
formed to the extent of the cash value of the anticipated
outflow of assets.
Liabilities
Liabilities are assessed at their fair value in the first
valuation. The subsequent assessment is carried out
at amortised acquisition cost. The book values of
liabilities which are entered in the balance sheet
at amortised acquisition cost constitute an appropriate
approximate value for the fair value.
Liabilities are classified as long-term if the contract
provides for redemption after twelve months.
Deferred taxes
Tax deferrals are carried out in the IFRS balance sheet
on temporary differences between the assigned
values of the assets and liabilities in the tax balance
sheet and their book values (liability method) and
shown as deferred tax assets or liabilities.
When determining the deferred taxes, the tax rates
and tax regulations applicable to HAMBORNER on
the financial statement reporting date are taken as
a basis. The consequences of the REIT conversion
are first entered in the balance sheet in the financial
year 2010 on the date of the change of status with
the registration as a REIT AG. Accordingly, for determination
of the tax charges anticipated in the future,
tax rates are enlisted that would be expected in the
event of discontinuation of the temporary deviations
and entry of the actual amount payable according to
the tax status on the financial statement reporting
date.
Deferred taxes are entered in the profit and loss
account as tax proceeds or expenses, unless they
relate to items directly entered in the equity capital,
to our sHareHolders management report Financial statements supplementary inFormation
which do not affect the operating result. In this
case, the deferred taxes are also entered in the
equity capital without affecting the operating
result.
Deferred tax assets are entered to the extent that
it would be probable, according to the tax status
on the financial statement reporting date, that a
taxable income will become available against which
the deductible temporary difference can be used.
Expenses and revenue recognition
The recording of turnover and other operating
income essentially conforms to when the payments
were made or, in the case of sale transactions, when
all the relevant opportunities and risks in connection
with the ownership were transferred to the
buyer.
Operating expenses are entered with take-up of the
payment or as expenditure on the causation date.
annual report 2009 | Hamborner reit ag
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