Audi 2013 Annual Report Download - page 234

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
GENERAL INFORMATION // RECOGNITION AND MEASUREMENT PRINCIPLES
CONSOLIDATED FINANCIAL STATEMENTS
231
B
// DEVELOPMENT OF THE EXCHANGE RATES SERVING AS THE BASIS FOR CURRENCY TRANSLATION
1 EUR in foreign currency Year-end exchange rate Average exchange rate
Dec. 31, 2013 Dec. 31, 2012 2013 2012
Australia AUD 1.5423 1.2712 1.3777 1.2407
Brazil BRL 3.2576 2.7036 2.8687 2.5084
United Kingdom GBP 0.8337 0.8161 0.8493 0.8109
Japan JPY 144.7200 113.6100 129.6627 102.4919
Canada CAD 1.4671 1.3137 1.3684 1.2842
Mexico MXN 18.0731 17.1845 16.9641 16.9029
Switzerland CHF 1.2276 1.2072 1.2311 1.2053
Singapore SGD 1.7414 1.6111 1.6619 1.6055
South Korea KRW 1,450.9300 1,406.2300 1,453.9121 1,447.6913
Taiwan TWD 41.0935 38.3200 39.4265 38.0004
Thailand THB 45.1780 40.3470 40.8297 39.9276
USA USD 1.3791 1.3194 1.3281 1.2848
People’s Republic of China CNY 8.3491 8.2207 8.1646 8.1052
RECOGNITION AND
MEASUREMENT PRINCIPLES
/ RECOGNITION OF INCOME AND EXPENSES
Revenue, interest income and other operating income are always
recorded when the services are rendered or the goods or prod-
ucts are delivered (in other words, when the risk and reward is
transferred to the customer). Revenue is reported after the
deduction of any discounts.
No revenue is realized from the sale of vehicles subject to buy-
back agreements. The difference between the selling price and
the expected buy-back price is recognized on a straight-line basis
over the period between sale and buy-back. Vehicles that are
still included in the accounts are reported under inventories.
Where additional services have been contractually agreed with
the customer in addition to the sale of a vehicle, such as war-
ranty extensions or the completion of maintenance work over a
fixed period, the related revenues and expenses are recorded in
the Income Statement in accordance with the provisions of
IAS 18 governing arrangements with multiple deliverables
based on the economic content of the individual contractual
components (partial services).
Performance-based grants are recognized as income.
Operating expenses are recognized in profit or loss when the
service is used or at the time they are economically incurred.
/ INTANGIBLE ASSETS
Intangible assets acquired for consideration are recognized at
their cost of purchase, taking into account ancillary costs and
cost reductions, and are amortized on a scheduled straight-line
basis over their useful life.
Concessions, rights and licenses relate to purchased software,
rights of use and subsidies paid.
Goodwill from a business combination has an indefinite useful
life and is subject to regular impairment testing.
Brand names from business combinations generally have an
indefinite useful life and are not amortized. They are tested
regularly for impairment.