AEG 21604 G Uživatelský manuál stáhnout pdf (Strana 557)

F-316

b) Business combinations

Business combinations are accounted for in accordance with the purchase method.

Once control is achieved over a Company, its assets and liabilities are measured at their fair value at the acquisi-

tion date in accordance with IFRS requirements. Any difference between the fair value and the carrying value is

accounted for in the respective underlying asset or liability. In the case of the acquisition of the SPS (Saft Power

Systems) Group in 2005, the excess between the Group's share in the net fair value of the identifiable assets,

liabilities and contingent liabilities over cost was reassessed and the residual remaining excess was recognised in

income.

c) Foreign currency translation

The balance sheets of consolidated subsidiaries outside the Euro zone are translated into Euros at the year-end

rate of exchange, and their income statements and cash flow statements are translated at the average annual rate

of exchange. The resulting translation adjustments are included in stockholders' equity under "cumulative trans-

lation adjustments".

Fair value adjustments arising from the acquisition of a foreign entity are considered as assets and liabilities of

that entity. They are listed in the entity's functional currency and translated using the closing exchange rate.

Foreign currency transactions are translated at the rate of exchange applicable on the transaction date. At year-

end, foreign currency monetary assets and liabilities are translated at the rate of exchange prevailing on that date.

The resulting exchange gains and losses are recorded in the income statement in “other financial income /

(loss)”.

Financial information prepared in currencies other than the Euro has been converted at the Euro rate per foreign

currency unit set out below:

Country

Currency

Closing rates

2008

Average rates

2008

Closing rates

2007

Average rates

2007

Canada

......................

CAD

0.59 0.64

0.69 0.68

China

.........................

CHY

0.11 0.10

0.09 0.10

India

..........................

INR

0.01 0.02

0.02 0.02

Malaysia

....................

MYR

0.21 0.20

0.21 0.21

Romania

....................

ROL

0.25 0.27

0.28 0.30

Russia

........................

RUB

0.02 0.03

0.03 0.03

Singapore

..................

SGD

0.50 0.48

0.47 0.48

United Kingdom

........

GBP

1.05 1.26

1.36 1.46

United States

.............

USD

0.72 0.68

0.68 0.73

d) Research and development expenses

Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowl-

edge and understanding is expensed when incurred. Development activities involve a plan or design for the pro-

duction of new or substantially improved products and processes. Development expenditure is capitalised only if

development costs can be measured reliably, the product or process is technically and commercially feasible,

future economic benefits are probable, and the Group intends to, and has sufficient resources to, complete devel-

opment and to use or sell the asset. The expenditure capitalised includes the cost of materials, direct labour and

overhead costs that are directly attributable to preparing the asset for its intended use. Other development expen-

diture is expensed when incurred.

Capitalised development expenditure is measured at cost less accumulated amortisation and accumulated im-

pairment losses.

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AEG 21604 G Uživatelský manuál Strana 557

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