Tiscali 2001 Annual Report Download - page 124

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116
r) Revenue recognition
Revenues from the sale of services are entered on the basis of traffic actually
recorded as of the closure of the financial year. Financial revenues are recorded on
the basis of the matching principle.
s) Recording of amounts in foreign currencies
Receivables and payables in extra-EUR-zone currencies are adjusted to the
exchange rates valid at the end of the financial year, by including a specifically
designated exchange-rate risk fund in the Balance Sheet. Profits and losses deriving
from exchange rate fluctuations are listed as receivables or payables in the Profit
and Loss Account.