DOCSLIB.ORG

Download the Financial Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Download the Financial Statements CHAPTER Financial statements Table of contents 112 Consolidated Financial Statements 175 Cash Generated from Operations 175 Auditor Fees 112 Consolidated Income Statement 175 Related Parties 113 Consolidated Statement of Comprehensive Income 176 Non-GAAP Measures 114 Consolidated Balance Sheet 177 Principal Subsidiaries, Joint Ventures and 115 Consolidated Statement of Changes in Equity Associates 116 Consolidated Cash Flow Statement 179 Parent Company Financial Statements 111 117 Notes to the Consolidated Financial Statements FINANCIAL STATEMENTS 179 Income Statement 117 General Information 180 Balance Sheet (Before Appropriation of Result) 117 Basis of Preparation 122 Financial Risk Management 181 Notes to the Parent Company Financial 126 Segments Statements 128 Revenue 130 Cost of Sales, Directly Related Costs and Other 181 Accounting Principles Operating expenses 181 Net Income 131 Government Grants 181 General and Administrative Costs 132 Finance Income and Costs 181 Net Financial Result 133 Earnings per Share 181 Leases 133 Current and Deferred Income Taxes 182 Financial Fixed Assets 137 Property, Plant and Equipment 182 Trade and other receivables 139 Leases 183 Shareholders’ Equity 143 Goodwill 183 Appropriation of Result 148 Other Intangible Assets 183 Borrowings 150 Inventories 183 Other liabilities 151 Trade and Other Receivables 183 Employees 154 Cash and Cash Equivalents 184 Contingencies 155 Share Capital, Share Premium and Treasury Shares 156 Other Reserves 185 Subsequent events 157 Retained Earnings 158 Non-Controlling Interest 159 Borrowings 161 Derivatives 164 Post-Employment Benefits 168 Share-based Payment Plans 172 Provisions and Contingent Liabilities 174 Trade and Other Payables Consolidated Financial Statements Consolidated Income Statement in thousands of EUR Notes 2020 2019 Revenue 5 3,480,989 4,039,306 Cost of sales and directly related costs 6 - 988,432 - 1,109,550 Gross profit 2,492,557 2,929,756 Selling and marketing costs 6 - 1,807,630 - 2,027,025 General and administrative costs 6 - 624,385 - 578,091 Share of result of Associates and Joint Ventures - 950 - 671 Operating result 59,592 323,969 Finance income 8 8,719 3,592 Finance costs 8 - 59,079 - 53,013 Net financial result - 50,360 - 49,421 Result before tax 9,232 274,548 Income tax 10 - 53,954 - 79,177 Result for the year - 44,722 195,371 112 Attributable to: Equity holders - 66,893 178,483 CONSOLIDATED FINANCIAL STATEMENTS Non-controlling interests 22,171 16,888 Result for the year - 44,722 195,371 Earnings per share, basic and diluted (in EUR per share) 9 - 0.26 0.70 The accompanying notes are an integral part of these consolidated financial statements. Consolidated Statement of Comprehensive Income in thousands of EUR Notes 2020 2019 Result for the year - 44,722 195,371 Total Comprehensive Income (net of tax): Remeasurement of post-employment benefit obligations 24 - 10,806 - 26,100 Income tax relating to remeasurement of post-employment benefit 2,295 5,879 obligations Total items that will not be reclassified to Income Statement (net of tax) - 8,511 - 20,221 Currency translation differences - 48,060 15,534 Share of Other Comprehensive Income of Associates and Joint Ventures - 75 1 Cash flow hedges 19 - 2,992 - 4,283 Income tax relating to items that may be subsequently reclassified to 19 898 1,021 Income Statement Total items that may be subsequently reclassified to Income Statement - 50,229 12,273 (net of tax) Other Comprehensive loss (net of tax) - 58,740 - 7,948 Total comprehensive (loss)/ income for the year (net of tax) - 103,462 187,423 Attributable to: 113 Equity holders - 123,028 171,805 CONSOLIDATED FINANCIAL STATEMENTS Non-controlling interests 19,566 15,618 Total comprehensive (loss)/income for the year (net of tax) - 103,462 187,423 The accompanying notes are an integral part of these consolidated financial statements. Consolidated Balance Sheet in thousands of EUR Notes 31 December 2020 31 December 2019 ASSETS Property, plant and equipment 11 483,760 532,690 Right-of-use assets 12 1,322,615 1,442,954 Goodwill 13 1,060,513 1,146,028 Other intangible assets 14 349,728 415,121 Deferred income tax assets 10 51,743 61,822 Investments in Associates and Joint Ventures 874 1,012 Non-current receivables 16 93,135 83,544 Non-current assets 3,362,368 3,683,171 Inventories 15 310,405 356,259 Trade and other receivables 16 254,269 275,618 Other current assets 38,217 32,605 Current income tax receivables 10 32,215 31,759 Derivatives 23 728 1,581 Cash and cash equivalents 17 155,313 162,899 Current assets 791,147 860,721 114 Total assets 4,153,515 4,543,892 CONSOLIDATED FINANCIAL STATEMENTS EQUITY AND LIABILITIES Share capital 18 5,089 5,089 Share premium 18 75,537 72,580 Treasury shares 18 - 14,343 - 16,235 Other reserves 19 - 223,698 - 167,622 Retained earnings 20 1,216,191 1,283,340 Equity attributable to equity holders 1,058,776 1,177,152 Non-controlling interests 21 95,744 87,109 Total equity 1,154,520 1,264,261 Borrowings 22 326,206 385,817 Lease liabilities 12 957,625 1,037,293 Deferred income tax liabilities 10 28,336 42,969 Post-employment benefits 24 150,477 136,112 Provisions 26 22,659 18,193 Derivatives 23 8,174 7,935 Other non-current liabilities 11,750 21,637 Contract liabilities 5 8,340 8,641 Non-current liabilities 1,513,567 1,658,597 Borrowings 22 350,025 517,330 Lease liabilities 12 357,352 373,278 Current income tax liabilities 10 58,680 40,705 Provisions 26 28,791 24,034 Derivatives 23 10,388 6,106 Trade and other payables 27 580,166 569,628 Contract liabilities 5 100,026 89,953 Current liabilities 1,485,428 1,621,034 Total liabilities 2,998,995 3,279,631 Total equity and liabilities 4,153,515 4,543,892 The accompanying notes are an integral part of these consolidated financial statements. Consolidated Statement of Changes in Equity Total attributable Non- to the control- Share Share Treasury Other Retained equity ling Total in thousands of EUR Notes capital premium shares reserves earnings holders interest equity At 1 January 2019 5,089 69,455 - 14,068 - 157,048 1,188,943 1,092,371 88,384 1,180,755 Result for the year - -- - 178,483 178,483 16,888 195,371 Cash flow hedge reserve (net of tax) 19, 21 - - - - 3,269 - - 3,269 7 - 3,262 Remeasurement of post-employment 19, 21 - - - - 17,266 - - 17,266 - 2,955 - 20,221 benefit obligations (net of tax) Cumulative currency translation reserve 19, 21 - - - 13,857 - 13,857 1,678 15,535 (net of tax) Other comprehensive income - - - - 6,678 - - 6,678 - 1,270 - 7,948 Total comprehensive income - - - - 6,678 178,483 171,805 15,618 187,423 Hedge results transferred to the carrying value of inventory purchased during the 19 - - - - 3,896 - - 3,896 - 179 - 4,075 year Purchase of treasury shares - - - 3,814 - - - 3,814 - - 3,814 Acquisition of non-controlling interest 20, 21 - -- - - 386 - 386 - 33 - 419 Share-based payments 18, 20 - 3,125 1,647 - 43 4,815 - 4,815 Dividends 20, 21 - - - - - 83,743 - 83,743 - 16,681 - 100,424 115 Total transactions with equity holders - 3,125 - 2,167 - - 84,086 - 83,128 - 16,714 - 99,842 At 31 December 2019 5,089 72,580 - 16,235 - 167,622 1,283,340 1,177,152 87,109 1,264,261 CONSOLIDATED FINANCIAL STATEMENTS At 1 January 2020 5,089 72,580 - 16,235 - 167,622 1,283,340 1,177,152 87,109 1,264,261 Result for the year - -- - - 66,893 - 66,893 22,171 - 44,722 Cash flow hedge reserve (net of tax) 19, 21 - - - - 2,143 - - 2,143 49 - 2,094 Remeasurement of post-employment 19, 21 - - - - 7,631 - - 7,631 - 880 - 8,511 benefit obligations (net of tax) Cumulative currency translation reserve 19, 21 - - - - 46,361 - - 46,361 - 1,774 - 48,135 (net of tax) Other comprehensive loss - - - - 56,135 - - 56,135 - 2,605 - 58,740 Total comprehensive loss - - - - 56,135 - 66,893 - 123,028 19,566 - 103,462 Hedge results transferred to the carrying value of inventory purchased during the 19 - - - 59 - 59 - 184 - 125 year Share-based payments 18, 20 - 2,957 1,892 - - 256 4,593 - 4,593 Dividends 21 - - - - - - - 10,747 - 10,747 Total transactions with equity holders - 2,957 1,892 - - 256 4,593 - 10,747 - 6,154 At 31 December 2020 5,089 75,537 - 14,343 - 223,698 1,216,191 1,058,776 95,744 1,154,520 The accompanying notes are an integral part of these consolidated financial statements. Consolidated Cash Flow Statement in thousands of EUR Notes 2020 2019 Cash flows from operating activities Cash generated from operations 28 794,543 1,000,863 Tax paid 10 - 40,290 - 123,482 Net cash from operating activities 754,253 877,381 Cash flows from investing activities Purchase of property, plant and equipment 11 - 107,493 - 140,309 Purchase of intangible assets 14 - 44,701 - 57,419 Proceeds from sales of (in)tangible assets 4,401 9,655 Acquisition of subsidiaries, net of cash acquired - 7,104 - 154,497 Settlement of contingent consideration 27 - 2,000 - 19,540 Change in other non-current receivables and lease prepayments - 4,887 481 Net cash used in investing activities - 161,784 - 361,629 Cash flows from financing activities Proceeds from borrowings 22 601,843 203,196 116 Repayments of borrowings 22 - 804,321 - 141,171 Repayments of lease liabilities 12 - 359,217 - 400,492 CONSOLIDATED FINANCIAL STATEMENTS Receipts from finance subleases 12 15,210 16,717 Interest paid - 14,419 - 19,367 Interest swap payments 23 - 3,218 - 3,126 Interest received 1,531 3,179 Dividends paid to non-controlling interests 21 - 10,747 - 16,681 Dividends paid to shareholders 20 - - 83,743 Purchase of treasury shares - - 3,814 Acquisition of non-controlling interest - - 419 Net cash used in financing activities - 573,338 - 445,721 Net increase in cash and cash equivalents 19,131 70,031 Cash and cash equivalents at beginning of the year 134,241 71,619 Effect of exchange rate changes on cash and cash equivalents - 636 - 7,409 Cash and cash equivalents at end of year 17 152,736 134,241 The accompanying notes are an integral part of these consolidated financial statements.
Load more

Recommended publications
  • Financial Statement of LIVECHAT Software SA
    Financial statement of LIVECHAT Software SA for the business year from April 1st, 2019 until March 31st, 2020 drawn up in accordance with the Accounting Act Wrocław, June 30th, 2020 CONTENTS STATEMENT OF THE BOARD INTRODUCTION TO THE FINANCIAL STATEMENT AND COMPARABLE FINANCIAL DATA ANNUAL FINANCIAL STATEMENT BALANCE SHEET (in PLN) PROFIT AND LOSS STATEMENT (in PLN) LIST OF CHANGES IN THE EQUITY CASH FLOW STATEMENT (in PLN) FURTHER INFORMATION AND EXPLANATORY NOTES Notes to the balance sheet Note 1.1. Intangible assets Note 1.2 Changes in intangible assets Note 1.3 Intangible assets ( ownership structure) Note 2.1 Tangible assets Note 2.2 Changes in fixed assets Note 2.3 Fixed assets ( ownership structure) Note 2.4 Fixed assets shown off-balance sheet Note 3.1 Long-term receivables Note 4 Real property Note 4.2 Intangible assets Note 4.3 Long-term financial assets Note 4.3 Long-term financial assets Note 4.4 Shares and stocks in subsidiaries Note 4.5 Securities, shares and other long-term financial assets Note 4.6 Securities, shares and other long-term financial assets Note 4.7 Granted long-term loans Note 4.8 Other long-term investments Note 5.1 Change in the assets balance due to deferred income tax Note 5.2 Other prepayments Note 7.1 Short-term receivables Note 7.2 Short-term receivables from related parties Note 7.3 Changes in the balance of write-offs to short-term receivables Note 7.4 Gross short-term receivables Note 7.5 Gross trade receivables from other parties with remaining maturities from the balance sheet date Note 7.6 Overdue trade receivables (gross) Note 7.7 Overdue long-term and short-term receivables (gross) Note 8.1 Short-term financial assets Note 8.2 Cash and cash equivalents ( currency structure) Note 8.3 Securities, shares and other short-term financial assets Note 8.4.
    [Show full text]
  • Improvements in Accounting and Analysis of Financial Results In
    ACCESS Freely available online urism & OPEN o H f T o o s l p a i t n a r l i u t y o J Journal of ISSN: 2167-0269 Tourism & Hospitality Research Article Improvements in Accounting and Analysis of Financial Results in Tourism Enterprises Temirkhanova Mo'tabar Juraevna* Department of International Economy, Russian University of Economics, Named after G.V. Plekhanova in Tashkent, Uzbekistan ABSTRACT The article deals with improvements in accounting and analysis of financial results in tourism enterprises, as well as suggestions for further simplification of the order of calculation of financial results of tourism companies as a result of explorative and deductive research, as a result of researches. With major changes in the development of the industry, the system of indicators that reflect the financial results of the tourism enterprises, benefits and operating results should be studied on a regular basis. These reviews are derived from the financial statement report. This will require the formulation of this report form and the improvement of its information. This does not disclose information about the earnings and net earnings from this report to external users. Keywords: International standards; Costs; Accountability; Improvement; Financial results; Travel companies INTRODUCTION and share in the economy, the diversification and quality of tourist services, and the expansion of tourism infrastructure" [4]. Since the early days of independence, the tourism industry has been paying much attention. As a result, the non-traceable sector is now In the above mentioned documents the goals and priorities of the one of the leading sectors of the economy.
    [Show full text]
  • Notice of Filing of Proposed Rules on Auditing Accounting Estimates, Including Fair Value Measurements, and Amendments to PCAOB Auditing Standards
    SECURITIES AND EXCHANGE COMMISSION (Release No. 34-85434; File No. PCAOB-2019-02) March 28, 2019 Public Company Accounting Oversight Board; Notice of Filing of Proposed Rules on Auditing Accounting Estimates, Including Fair Value Measurements, and Amendments to PCAOB Auditing Standards Pursuant to Section 107(b) of the Sarbanes-Oxley Act of 2002 (the "Act" or "Sarbanes-Oxley Act"), notice is hereby given that on March 20, 2019, the Public Company Accounting Oversight Board (the "Board" or "PCAOB") filed with the Securities and Exchange Commission (the "Commission" or "SEC") the proposed rules described in Items I and II below, which items have been prepared by the Board. The Commission is publishing this notice to solicit comments on the proposed rules from interested persons. I. Board's Statement of the Terms of Substance of the Proposed Rules On December 20, 2018, the Board adopted a new rule and amendments to auditing standards (collectively, the "proposed rules"), under which the three existing standards related to auditing estimates, including fair value measurements, will be replaced with a single, updated standard. The text of the proposed rules appears in Exhibit A to the SEC Filing Form 19b-4 and is available on the Board’s website at https://pcaobus.org/Rulemaking/Pages/docket-043-auditing-accounting-estimates-fair- value-measurements.aspx and at the Commission’s Public Reference Room. II. Board's Statement of the Purpose of, and Statutory Basis for, the Proposed Rules In its filing with the Commission, the Board included statements concerning the purpose of, and basis for, the proposed rules and discussed any comments it received on 1 the proposed rules.
    [Show full text]
  • Quarterly Financial Report Third Quarter 2020
    Quarterly Financial Report Third Quarter 2020 Quarterly Financial Report / Third Quarter 2020 Contents Page Key Figures ............................................................................................................................................................................ 3 The Company ........................................................................................................................................................................ 4 Share Performance ....................................................................................................................................................... 5 Interim Management Report ............................................................................................................................... 6 Consolidated Interim Financial Statements ...................................................................................... 16 Consolidated Statements of Income ...................................................................................................... 16 2 Consolidated Statements of Comprehensive Income .......................................................... 17 Consolidated Balance Sheets ...................................................................................................................... 18 Consolidated Statements of Shareholders’ Equity .................................................................. 19 Consolidated Statements of Cash Flows .......................................................................................
    [Show full text]
  • Consolidated Financial Results for the First Quarter of the Fiscal Year
    Consolidated Financial Results For the First Quarter of the Fiscal Year Ending March 31, 2022 (For the First Three Months Ended June 30, 2021) Prepared in Conformity with Generally Accepted Accounting Principles in Japan English Translation from the Original Japanese-Language Document July 30, 2021 Company Name : Mazda Motor Corporation (Tokyo Stock Exchange / Code No. 7261) URL : https://www.mazda.com/ Representative Person : Akira Marumoto, Representative Director and President Contact Person : Nobuhiko Kageyama, General Manager, Accounting Department, Financial Services Division Phone 082-282-1111 Filing of Shihanki Hokokusho, quarterly securities report : Scheduled for August 6, 2021 Payment of Dividends : - Supplementary Material : Yes Briefing Session : Yes (Intended for securities analysts, institutional investors and media) (in Japanese yen rounded to millions, except amounts per share) 1. Consolidated Financial Highlights (April 1, 2021 through June 30, 2021) (1) Consolidated Financial Results (Percentage indicates change from same period of the previous fiscal year) Net Income Attributable Net Sales Operating Income Ordinary Income to Owners of the Parent millions of yen % millions of yen % millions of yen % millions of yen % FY2022 1st quarter 803,399 113.3 26,106 ‐ 26,518 ‐ 11,377 ‐ FY2021 1st quarter 376,676 (55.6) (45,272) ‐ (41,751) ‐ (66,691) ‐ Note: Comprehensive income FY2022 1st quarter 21,069 millions of yen ( ‐ % ) FY2021 1st quarter (65,008) millions of yen ( ‐ % ) Net Income Net Income Per Share Per Share (Diluted) yen yen FY2022 1st quarter 18.06 18.05 FY2021 1st quarter (105.89) ‐ (2) Consolidated Financial Position Total Assets Net Assets Equity Ratio As of millions of yen millions of yen % June 30, 2021 2,997,739 1,207,987 39.8 March 31, 2021 2,917,414 1,195,830 40.5 Reference: Net Assets excluding non-controlling interests As of June 30, 2021 1,193,489 millions of yen As of March 31, 2021 1,181,730 millions of yen 2.
    [Show full text]
  • The Impact of the Accounting Policies on the Share Prices of Companies and Banks
    THE IMPACT OF THE ACCOUNTING POLICIES ON THE SHARE PRICES OF COMPANIES AND BANKS Malgorzata Bialas, PhD AGH, University of Science and Technology, Faculty of Management, Department of Economics, Finance and Environmental Protection, Poland Abstract: This article concerns the impact of accounting policies on the share price of companies and banks in Poland. The article draws attention to the profit and loss account, which contains an increasing number of records that are not a reflection of actual operations, but for example the valuation of balance sheet items in fair value. Therefore, the result which is calculated on an accrual basis is different from the result calculated on cash basis. The study shows the degree of differences between the results in the profit and loss account and the results in the cash flow statement. It is noted that the degree of differences for banks is lower than in the case of companies. Then the correlation coefficient between changes in stock prices and the gap between the income statement and cash flow statement is calculated. It is shown that the correlation coefficient is very weak. Key Words: Fair value, profit and loss account, cash flow statement, market value of company Introduction The accounting policies have a very big impact on the financial statements. Investors during the decision process are guided by the information which is contained in the financial statements. Recently accounting principles have changed. As a result, fair value was introduced for valuation of the items of balance sheet. The effects of this valuation are reported also in the income statement.
    [Show full text]
  • Financial Result Q1 2019 Use of Gas in Transport Continued to Grow
    GASUM GROUP FINANCIAL RESULT Q1 2019 USE OF GAS IN TRANSPORT CONTINUED TO GROW KEY FINANCIAL INDICATORS JANUARY 1 TO MARCH 31, 2019 • Group revenue increased by 2% and totaled €396.6 million (2018: €390.5 million). • Operating profit totaled €61.1 million, down 16% year on year (€72.8 million). • Balance sheet total increased to €1,628.2 million (€1,526.6 million) following the introduc- tion of the new IFRS 16 standard. • The Group’s financial position remained strong in the reporting period, with the equity ratio being 42.5% (December 31, 2018: 43.7%). KEY FIGURES € million 1–3/2019 1–3/2018 Change 2018 Revenue 396.6 390.5 1.5% 1,177.4 Operating profit 61.1 72.8 -16.1% 124.2 Operating profit (%) 15.4% 18.6% 10.5% Equity ratio (%) 42.5% 41.2% 43.7% Return on equity (%) * 11.7% 14.6% 13.3% Return on investment (%) * 8.3% 10.1% 9.2% Balance sheet total 1,628.2 1,565.5 4.0% 1,526.6 Net interest-bearing debt 609.6 580.8 5.0% 562.7 Gearing ratio (%) 88.4% 90.0% 84.7% Net debt/EBITDA * ** 3.0 3.1 2.9 Personnel at the end of period 341 413 -17.4% 434 * Annualized ** Current period restated without the IFRS 16 effects Reference period information does not include IFRS 16 effects 2 THE GASUM GROUP FINANCIAL RESULT FOR JANUARY 1 TO MARCH 2019 GASUM GROUP CEO JOHANNA LAMMINEN COMMENTS ON THE FIRST QUARTER OF 2019: ”Our financial performance was in line with our expectations during Q1.
    [Show full text]
  • Annual Financial Statements 2017/18. Pursuant to Section 124 Stock Exchange Act 2018
    EN Kapsch TrafficCom Annual Financial Statements 2017/18. Pursuant to Section 124 Stock Exchange Act 2018. Table of contents. 1. Consolidated Financial Statements as of March 31, 2018 Consolidated Financial Statements as of March 31, 2018 3 Notes to the Consolidated Financial Statements 8 Management Report 76 Auditor’s Report 93 Statement of all Members of the Executive Board 98 2. Financial Statements as of March 31, 2018 Balance sheet as at March 31, 2018 100 Income statement for the fiscal year 2017/18 102 Notes to the financial statements for fiscal year 2017/18 103 Management Report as of March 31, 2018 119 Auditor’s Report 133 Statement of all Members of the Executive Board 140 Kapsch TrafficCom | 2 Consolidated Financial Statements as of March 31, 2018. Consolidated statement of comprehensive income. All amounts in EUR Note 2016/17 2017/18 Revenues (4) 648,479,213 693,256,518 Other operating income (5) 25,052,456 20,536,151 Changes in finished and unfinished goods and work in progress (6) 1,409,754 2,781,723 Other own work capitalized 3,551,874 404,489 Cost of materials and other production services (7) -242,146,257 -279,814,687 Staff costs (8) -224,169,884 -237,880,654 Amortization and depreciation (9) -17,715,773 -14,807,528 Other operating expenses (10) -134,359,527 -134,908,686 Proportional operating result of joint ventures (17) 0 492,120 Operating result 60,101,855 50,059,444 Finance income (11) 13,534,069 7,0 87,3 07 Finance costs (11) -13,147,130 -12,274,612 Financial result 386,940 -5,187,305 Results from associates and
    [Show full text]
  • Consolidated Financial Statements
    Consolidated Financial Statements SYMRISE AG, HOLZMINDEN JANUARY 1 TO DECEMBER 31, 2019 CONSOLIDATED FINANCIAL STATEMENTS 2019 25. Other current non-financial liabilities 113 Consolidated Income Statement 70 26. Other current and non-current provisions 114 Consolidated Statement of Comprehensive 27. Provisions for pensions and similar Income 71 obligations 114 Consolidated Statement of Financial Position 72 28. Equity 120 Consolidated Statement of Cash Flows 74 29. Disclosures on capital management 123 Consolidated Statement of Changes in Equity 75 30. Additional disclosures on the statement Notes 76 of cash flows 124 1. General information 76 31. Additional information on financial 2. Accounting policies 76 instruments and the measurement of 3. Segment information 96 fair value 126 4. Sales 100 32. Disclosures relating to financial 5. Cost of goods sold 100 instrument risk management 128 6. Personnel expenses 100 33. Contingent liabilities and other 7. Selling and marketing expenses 101 financial obligations 132 8. Research and development expenses 101 34. Transactions with related parties 133 9. Administration expenses 101 35. Executive Board and Supervisory Board 10. Other operating income 101 shareholdings 134 11. Financial result 102 36. Long-term objectives and methods 12. Income taxes 102 for managing financial risk 134 13. Amortization and depreciation 104 37. Audit of financial statements 134 14. Earnings per share 104 38. List of interests in entities 135 15. Cash and cash equivalents 105 39. Exemption from the obligation to 16. Trade receivables 105 prepare annual financial statements 17. Inventories 106 pursuant to Section 264 (3) of 18. Intangible assets 106 the German Commercial Code (HGB) 137 19.
    [Show full text]
  • Mahindra Satyam Infocity, Unit - 12, Plot No
    Satyam Computer Services Limited Regd Office: Mahindra Satyam Infocity, Unit - 12, Plot No. 35 & 36, Hi-tech City layout, Survey No. 64, Madhapur, Hyderabad — 500 081. UNAUDITED CONSOLIDATED FINANCIAL RESULTS for the Quarter ended June 30, 2010 and Quarter and Half Year ended September 30, 2010 ( ` In Million) Sl. Particulars Quarter ended Quarter ended Half Year ended Year ended No. September 30, June 30, September 30, March 31, 2010 2010 2010 2010 Unaudited Unaudited Unaudited Audited 1. Income from Operations 12,424 12,480 24,904 54,810 2. Expenditure Employee Cost 9,136 8,677 17,813 39,811 Operating and Administration Expenses 2,553 2,589 5,142 9,443 Depreciation 429 594 1,023 2,144 Total 12,118 11,860 23,978 51,398 3. Profit from Operations before Other 306 620 926 3,412 Income, Interest & Exceptional Items (1-2) 4. Other Income – (Refer Note 12) 313 732 1,045 69 5. Profit before Interest & Exceptional 619 1,352 1,971 3,481 Items (3+4) 6. Interest and Financing Charges 25 25 50 329 7. Profit after Interest but before Exceptional 594 1,327 1,921 3,152 Items (5-6) 8. Exceptional Items - (Refer Note 11) 84 79 163 4,169 9. Profit / (Loss) before Tax (7-8) 510 1,248 1,758 (1,017) 10. Tax Expense 270 264 534 222 11. Net Profit / (Loss) after Tax before 240 984 1,224 (1,239) Minority Interest (9-10) 12. Minority Interest 7 9 16 7 13. Net Profit / (Loss) after Tax (11-12) 233 975 1,208 (1,246) 14.
    [Show full text]
  • The New Accounting Model of the Swiss Confederation
    ISSN 1608-7143 OECD Journal on Budgeting Volume 8 – No. 1 © OECD 2008 The New Accounting Model of the Swiss Confederation by by The Federal Finance Administration* Switzerland’s public accounting system has been completely overhauled. The New Accounting Model for the Confederation was used for the first time to prepare the 2007 budget and the 2008-10 financial plan. This article examines the fundamental new directions of financial management in Switzerland. * This article was originally published in German in September 2006 and is available at www.efv.admin.ch. 1 THE NEW ACCOUNTING MODEL OF THE SWISS CONFEDERATION Executive summary In light of the growing demands on financial management, the decision was taken to overhaul the Swiss Confederation’s accounting system. The New Accounting Model (NAM) – in use for the first time in the 2007 budget and the 2008-10 financial plan – contains two fundamentally new approaches. First of all, the New Accounting Model takes a dual perspective in presenting the Confederation’s financial processes and circumstances. For overall fiscal policy management in accordance with the debt containment rule, which requires a balance between revenue and expenditure, the cash or financing aspect remains the focal point. This is conveyed in the financing and cash flow statement. However, in terms of administrative and operational management, the performance aspect now takes centre stage. As in the private sector, this is displayed in the income statement and supplemented with operational cost accounting. This makes a substantial contribution to ensuring the efficient and effective use of funds. Second, the Confederation’s financial reporting under the NAM is based on the International Public Sector Accounting Standards (IPSAS), the only comprehensive and generally accepted set of guidelines for the public sector.
    [Show full text]
  • Why Financial Statements Matter: Enforcement and Litigation Implications Breon S
    an a.s. Pratt & sons Publication october 2013 Headnote: The new Problems Facing banks Steven A. Meyerowitz dealing witH civil investigative demands From tHe cFPb: rules, resPonses, and Practice considerations Joseph T. Lynyak III and Rebecca Tierney When talking Politics leads to Prison: Political intelligence & tHe STOCK act Kerry Burke, Robert Kelner, and Zachary Parks Why Financial statements matter: enForcement and litigation imPlications Breon S. Peace, Jonathan S. Kolodner, and Tamara J. Britt When is it too late For investors to bring RMBS-related claims? Joseph Cioffi and James R. Serritella is tHere a PatH tHrougH tHe woods? retention requirements For managed CLOs Kevin Ingram and Martin Sharkey unautHorized UCC Filings: a cautionary tale Marc Hanrahan and Sarah Griffin delaware bankruPtcy court Affirms lender’s ability to recover 37 Percent make- Whole Premium as Part oF its secured claim Luc A. Despins and G. Alexander Bongartz Caveat Cesso. tempus Fugit…. (creditors in bankruPtcy must beware delay, as time Flies) John D. Demmy The nature and Priority oF security under canada’s bank act Luciana Amaral banking brieFs Terence G. Banich editor-in-cHieF Steven A. Meyerowitz President, Meyerowitz Communications Inc. board oF editors Paul Barron Douglas Landy Elizabeth C. Yen Professor of Law Partner, Milbank, Tweed, Hadley Partner, Hudson Cook, LLP Tulane Univ. School of Law & McCloy LLP Bankruptcy for Bankers George Brandon Paul L. Lee Howard Seife Partner, Squire, Sanders & Of Counsel, Debevoise & Partner, Chadbourne & Parke Dempsey LLP Plimpton LLP LLP Barkley Clark Jonathan R. Macey Regional Banking Outlook Partner, Stinson Morrison Hecker Professor of Law James F. Bauerle LLP Yale Law School Keevican Weiss Bauerle & Hirsch LLC John F.
    [Show full text]