Tiscali 2001 Annual Report Download - page 121
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113
the reasons for the previous loss of value are considered no longer current. The
analytical methods for the charging of depreciation and amortization are explained
separately hereunder in these notes.
c) Revaluations
To date, no revaluations have been performed.
d) Exceptions
No exceptions to the valuation criteria provided by legislation regarding financial
statements have been made either in these financial statements or in the financial
statements of the previous period.
The most significant principles and criteria are summarized as
follows:
e) Intangibile assets
Start-up and expansion costs, are entered in the designated line item in the assets
side and are amortized for a period not exceeding 5 years starting from the financial
year in which said costs were incurred.
Research, development and advertising costs are as a rule debited to the Profit and
Loss Account of the FY in which they were incurred. Exception is made for
expenditure for the development of new products, whose R&D and advertising costs
are posted in the appropriate line item among Assets and amortized over a 5-year
period starting from the FY in which they were incurred, in consideration of the long-
term profitability of said costs.
Licenses, trademarks, patent rights and similar are recorded at their acquisition cost
and amortized systematically in accordance with the period of use as established by
the contract. At all events, the amortization period will not exceed 5 years from the
financial year in which they were incurred.
Licenses, trademarks and patent rights are recorded at their acquisition cost and
amortized in accordance with the period of use as established by the contract. At all
events, the amortization period will not exceed 5 years from the financial year in
which it was incurred.
Goodwill is posted within the limits of the costs incurred and amortized over five
years.
Maintenance and upgrading costs on fixed assets belonging to third parties are
shown at line item "Other" and are systematically amortized for a shorter period
between the future profitability of expenses incurred and the residual contract
period.
f) Fixed assets and depreciation
Fixed assets are recorded at purchase or production cost, including any ancillary
charges.
Depreciation is calculated with reference to cost, in a manner consistent with the
possibility of residual use.
Parent Company Financial Statements