Audi 2010 Annual Report Download - page 196

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GENERAL INFORMATION
AUDI AG has the legal form of a German stock corporation (Aktiengesellschaft). Its registered
office is at Ettinger Strasse, Ingolstadt, and the company is recorded in the Commercial Register
of Ingolstadt under HR B 1.
Around 99.55 percent of the issued capital of AUDI AG is held by Volkswagen AG, Wolfsburg, with
which a control and profit transfer agreement is in force. The Consolidated Financial Statements
of AUDI AG are included in the Consolidated Financial Statements of Volkswagen AG, which are
held on file at the Local Court of Wolfsburg. The purpose of the Company is the development,
production and sale of motor vehicles, other vehicles and engines of all kinds, together with
their accessories, as well as machinery, tools and other technical articles.
ACCOUNTING PRINCIPLES
AUDI AG prepares its Consolidated Financial Statements on the basis of the International Financial
Reporting Standards (IFRS) and the interpretations of the International Financial Reporting
Interpretations Committee (IFRIC). All pronouncements of the International Accounting Stan-
dards Board (IASB) whose application is mandatory in the EU have been observed. The prior-year
figures were calculated according to the same principles.
The Income Statement is prepared according to the internationally practiced cost of sales method.
AUDI AG prepares its Consolidated Financial Statements in euros (EUR).
The Consolidated Financial Statements provide a true and fair view of the net worth, financial
performance and financial position of the Audi Group.
The requirements pursuant to Section 315a of the German Commercial Code (HGB) regarding
the preparation of consolidated financial statements in accordance with IFRS, as endorsed by
the EU, are met.
All requirements that must be applied under German commercial law are additionally observed
in preparing the Consolidated Financial Statements. The German Corporate Governance Code is
also complied with and is permanently available on the Internet at www.audi.com/cgk-declaration.
The Board of Management prepared the Consolidated Financial Statements on February 8, 2011.
This date marks the end of the adjusting events period.
Effects of new or revised standards
The Audi Group has implemented all of the accounting standards whose application became
mandatory with effect from the 2010 fiscal year.
The revised version of IAS 27/IFRS 3 changes the way in which future corporate mergers are
presented. In particular, there is the option of capitalizing the pro rata amount of goodwill at-
tributable to minority shareholders. Old interests that were already recognized in the balance
sheet prior to the transfer of control are measured at fair value through profit or loss at the time
of acquisition. Additionally, interests in a subsidiary that continue to be held following loss of
control are recognized at fair value through profit or loss at initial consolidation. Changes in the
proportion of shares held in fully consolidated subsidiaries that do not result in a loss of control
continue to be recognized directly in equity.
In accordance with the revision of IFRS 8 as part of the improvement of the 2009 International
Financial Reporting Standards, no disclosures are made of segment assets. This capital key figure
does not form part of the Audi Group’s internal reporting.