Tiscali 2001 Annual Report Download - page 120
Download and view the complete annual report
Please find page 120 of the 2001 Tiscali annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
 |
 |
112
FORM AND CONTENT OF THE FINANCIAL STATEMENTS
1) CRITERIA USED IN THE PREPARATION OF STATEMENTS
The Financial Statements have been prepared in accordance with Article 2423 and the
subsequent of the Italian Civil Code, and consist of the Balance Sheet, the Profit and Loss
Statement and the Notes in relation thereto. The format of the statements conforms to the
standard set out in Article 2427 of the Italian Civil Code, which, pursuant to and for the
effects of Article 2423, constitutes an integral part of these financial statements. The
financial statements contain comparative data for the year ending December 31, 2000,
given that such data are consistent with those of the period referenced herein. Moreover,
pursuant to D.Lgs. 127/1991, the consolidated balance sheet has been prepared and
presented together with the balance sheet of Tiscali SpA for the financial year.
In order to provide a better overview of Company operations and financial position, the
following documents are supplied as supplemental information to these statements:
- Reclassified Balance Sheet;
- Reclassified Profit and Loss Account;
- Statement of Changes in Financial Position.
2) VALUATION
a) General criteria
The criteria used in the preparation of the Financial Statements conform to those
stipulated by aforementioned current regulations on this subject. Such criteria have
been integrated and interpreted by the accounting principles issued by the body of
Italian Chartered Accountants (Consiglio Nazionale dei Dottori Commercialisti e dei
Ragionieri). The criteria used in the FY are in line with those employed for the
previous FY's Financial Statements, in particular as regards valuation and continuity
in applying the same principles. Valuation of balance sheet items was performed
based on general criteria of prudence and competency, in view of continuation of
activity. For the purposes of accounting entries, the economic substance of
transactions prevails over their legal form. With regards to investments, they are
posted at the time of payment of the same. Profits are included only if accruing
within FY closing date, while risks and losses are taken into account also if they
became known at a later date. Miscellaneous items included in individual line items
have been valued separately.
Assets for durable use have been classifies as non-current assets.
b) Valuation adjustments and recoveries of value
The values of fixed and intangible assets whose useful life is limited over time are
written down respectively through depreciation and amortization charges. The same
fixed and intangible assets and the other assets are written down each time a
durable loss of value has been noted; the original value is re-established insofar as