Asus 2008 Annual Report Download - page 161
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157
ASUSTEK COMPUTER INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(In thousands of New Taiwan dollars unless otherwise stated)
7. Inventories
Inventories are valued at the lower of cost or market value under the gross method. Cost is
determined on a weighted-average basis. The market values of raw materials and supplies
are determined on the basis of replacement cost while the market values of work in process
and finished goods are determined by net realizable value.
8. Noncurrent assets held for sale
The carrying value of noncurrent assets (disposal group) held for sale rather than held for
ongoing operation to recover the carrying value is valued at the either lower of carrying
amount or fair values less costs to sell.
9. Long-term investments under the equity method
(1) The difference between the acquisition cost and the Company’s and subsidiaries’ share
of net assets of the investee is analyzed and accounted for in the manner similar to
acquisition cost allocation as provided in the R.O.C. SFAS No. 25 “Business
Combinations-Accounting Treatment under Purchase Method” under which goodwill is
no longer amortized.
(2) When the Company and subsidiaries have control or significant influence over an
investee company, the Company and subsidiaries shall account for such investment under
the equity method.
(3) If certain long-term equity investments have incurred existing or extremely probable
losses, the Company and subsidiaries shall recognize investment loss in proportion to the
percentage of ownership. The investment loss recognized shall first bring down the
specific investment and receivables accounts to zero, then the remaining loss, if any, will
be recorded as “Other liabilities-credit to long-term investments”.
(4) Unrealized intercompany gains or losses arising from transactions between affiliated
companies shall be eliminated. Unrealized gross profits from downstream sales shall be
debited to “unrealized gross profits” and credited to “deferred credits”, whereas
unrealized gross profits from upstream and side-stream sales shall be debited to
“investment loss” and credited to “long-term investments”.