IC Companys â Annual Report 2008/09 0 - IC Companys A/S
IC Companys â Annual Report 2008/09 0 - IC Companys A/S
IC Companys â Annual Report 2008/09 0 - IC Companys A/S
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Share-based incentive plans<br />
Share-based incentive plans in which employees can only chose to buy shares in the Parent Company (equity<br />
schemes) are measured at the equity instruments’ fair value at the grant date and recognised in the income statement<br />
under staff costs over the period during which the employee’s right to buy the shares vests. The balancing<br />
item is recognised directly in equity.<br />
The fair value of equity instruments is determined using the Black & Scholes model with the parameters stated in<br />
note 5 to the financial statements.<br />
Discontinued operations and non-current assets held for sale<br />
Discontinued operations are major business areas or geographical areas which have been sold or which are held<br />
for sale according to an overall plan.<br />
The results of discontinued operations are presented as a separate item in the income statement, consisting of<br />
the activity’s operating profit/loss after tax and any gains or losses on fair value adjustment or sale of the related<br />
assets.<br />
Non-current assets and groups of assets held for sale, including assets related to discontinued operations, are<br />
presented as a separate item in the balance sheet as current liabilities. Liabilities directly related to the assets<br />
and discontinued operations in question are presented as current liabilities in the balance sheet.<br />
Non-current assets held for sale are not depreciated or amortised, but are written down to fair value less expected<br />
costs to sell where this is lower than the carrying amount.<br />
Income statement<br />
Revenue<br />
Revenue from the sale of goods is recognised in the income statement when delivery and transfer of risk to the<br />
buyer have taken place and if the income can be reliably measured and is expected to be received. Revenue is<br />
measured excluding VAT, indirect taxes and discounts related to sales.<br />
Revenue is measured at the fair value of the consideration received or receivable.<br />
In addition to the sale of goods, revenue comprises licence revenue.<br />
Cost of sales<br />
Cost of sales includes direct costs incurred to obtain the revenue for the year. The Company recognises cost of<br />
sales as revenue is earned. The change for the year in the inventory of goods for resale is included in cost of sales.<br />
Staff costs<br />
Staff costs include salaries, remuneration, pensions, share-based payments and other staff costs to the Company’s<br />
employees, including the members of the Executive Board and Board of Directors. Agents’ commissions to<br />
external sales agents are also included.<br />
Depreciation, amortisation and writedown of fixed assets<br />
Amortisation, depreciation and impairment comprise amortisation of intangible assets, depreciation of property,<br />
plant and equipment and impairment losses for the year.<br />
Other operating expenses<br />
Other operating expenses comprise other purchase and selling costs and administrative expenses of a primary<br />
nature relative to the Company's principal activities.<br />
Leasing expenses relating to operational leasing agreements are recognised by straight-line method in the income<br />
statement under “Other operating expenses”.<br />
Other gains and losses<br />
Other gains and losses comprise items of a secondary nature relative to the principal activities, including gains<br />
and losses on the sale of intangible assets and property, plant and equipment.<br />
<strong>IC</strong> <strong>Companys</strong> – Årsrapport <strong>2008</strong>/<strong>09</strong><br />
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