AEG 21604 G Manual de usuario descargar pdf (Pagina 567)

F-326

r) Discontinued operations

A discontinued operation is a component of the Group's business that represents a separate major line of business

or geographical area of operations that has been disposed of or is held for sale, or is a subsidiary acquired exclu-

sively with a view to resale. Classification as a discontinued operation occurs upon disposal or when the opera-

tion meets the criteria to be classified as held for sale, if earlier. When an operation is classified as a discontinued

operation, the comparative income and cash flow statements are re-presented as if the operation had been discon-

tinued from the start of the comparative period.

s) Use of estimates and judgements

The preparation of consolidated financial statements in accordance with International Financial Reporting Stan-

dards implies that the Group makes a certain number of estimates and assumptions that are considered realistic

and reasonable. However, subsequent facts and circumstances could lead to changes in these estimates or as-

sumptions, which would affect the value of the Group's assets, liabilities, stockholders equity and net income.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which the estimate is revised and in any future periods affected.

The balance sheet amounts disclosed in the notes below relate only to continuing operations in 2008, whereas the

2007 figures include both the continuing and discontinued operations.

(i) Reserve for write-downs of inventories and work in progress

Inventories and work in progress are measured at the lower of cost or net realizable value. Cost is primarily cal-

culated on a weighted average price basis. Reserves for inventories and work in progress are calculated based on

an analysis of foreseeable changes in demand, technology or the market, in order to determine obsolete or excess

inventories and work in progress. Reserves amounted to € 4,455,000 at 31 December 2008 (2007: € 5,012,000).

The valuation allowances are accounted for in cost of sales.

ii) Allowance for doubtful customer receivables

The amount of the allowance reflects both the customers' ability to honour their debts and the age of the debts in

question. A higher default rate than estimated or the deterioration of our major customers' credit worthiness

could have an adverse impact on future results. Allowances for doubtful customer receivables were € 1,419,000

at 31 December 2008 (2007: € 1,505,000).

iii) Intangible assets

The Group has intangible assets acquired for cash, through business combinations, or capitalised development

costs.

Timely impairment tests are carried out in the event of indications of reduction in value of intangible assets held.

Possible impairments are based on discounted future cash flows and/or fair values of the assets concerned. A

change in the market conditions or the cash flows initially estimated can therefore lead to a review and a change

in the impairment loss previously recorded.

Intangible assets, net were € 7,360,000 at 31 December 2008 (2007: € 6,061,000). No impairment loss was re-

corded at 31 December 2008 and 2007.

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AEG 21604 G Manual de usuario Pagina 567