Audi 2009 Annual Report Download - page 194

191
Consolidated Financial
Statements
178 Income Statement
179 Statement of Recognized
Income and Expense
180 Balance Sheet
181 Cash Flow Statement
182 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
184 Development of fixed assets
in the 2009 fiscal year
186 Development of fixed assets
in the 2008 fiscal year
188 General information
188 Accounting principles
190 Group of consolidated
companies
191 Key effects of changes to
the group of consolidated
companies on the opening
balance sheet for 2009
191 Consolidation principles
192 Foreign currency translation
192 Recognition and
measurement principles
199 Notes to the Income Statement
205 Notes to the Balance Sheet
215 Additional disclosures
236 Events occurring subsequent
to the balance sheet date
237 Statement of Interests
held by the Audi Group
KEY EFFECTS OF CHANGES TO THE GROUP OF CONSOLIDATED
COMPANIES ON THE OPENING BALANCE SHEET FOR 2009
There have been no major changes to the group of consolidated companies since December 31,
2008. The merger between an insignificant investment and a fully consolidated company re-
sulted in a slight adjustment to the opening balance for 2009 of EUR 1 thousand.
CONSOLIDATION PRINCIPLES
The assets and liabilities of the domestic and foreign companies included in the Consolidated
Financial Statements are recognized in accordance with the standard accounting and measure-
ment policies of the Audi Group.
In the case of subsidiaries that are being consolidated for the first time, the assets and liabilities
are to be measured at their fair value at the time of acquisition. Any realized hidden reserves and
expenses are amortized, depreciated or reversed in accordance with the development of the
corresponding assets and liabilities as part of the subsequent consolidation process. Where the
acquisition values of the investments exceed the Group share in the equity of the relevant com-
pany as calculated in this manner, goodwill is created. Goodwill acquired in a business combina-
tion is tested for impairment regularly at the balance sheet date, and an impairment loss is
recognized if necessary.
Within the Audi Group, the predecessor method is applied in relation to common control trans-
actions. Under this method, the assets and liabilities of the acquired company or business op-
erations are measured at the gross carrying amounts of the previous parent company. The
predecessor method thus means that no adjustment to the fair value of the acquired assets and
liabilities is performed at the time of acquisition; any goodwill arising during initial consolida-
tion is adjusted against equity, without affecting income.
The Consolidated Financial Statements also include securities funds whose assets are attribut-
able in substance to the Group.
Receivables and liabilities between consolidated companies are netted, and expenses and in-
come eliminated. Interim profits and losses are eliminated from Group inventories and fixed
assets.
Consolidation processes affecting income are subject to deferrals of income taxes; deferred tax
assets and liabilities are offset where the term and tax creditor are the same.
The same accounting policies for determining the pro rata equity are applied to Audi Group
companies accounted for using the equity method. This is done on the basis of the last set of
audited financial statements of the company in question.