Tiscali 2001 Annual Report Download - page 70

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62
FORM AND CONTENT OF THE CONSOLIDATED FINANCIAL
STATEMENTS
1) CRITERIA USED IN THE PREPARATION OF STATEMENTS
The Consolidated Financial Statements have been prepared in accordance with Articles 25
and thereafter of D.Lgs. 127/1991, and consist of the Balance Sheet, the Profit and Loss
Statement and the Notes in relation thereto, drafted pursuant to and for the effects of
Article 38 of said D.Lgs., which constitutes an integral part of these Consolidated Financial
Statements. The Consolidated Financial Statements are presented making a comparison
with the previous FY, whose data are coherent and homogeneous with those of the FY in
question. The following documents are attached to these Notes, to permit better
understanding of the Financial Statements:
- Reclassified Consolidated Balance Sheet;
- Reclassified Consolidated Profit and Loss Account;
- Consolidated Financial Report.
2) AREA OF CONSOLIDATION
The Consolidated Financial Statements of the Tiscali Group include the Financial
Statements of the Parent Company and those of the Italian and foreign Companies in
which Tiscali has direct or indirect control of the majority of votes exercisable during
ordinary meetings, of Companies on which Tiscali has a dominant influence by virtue of an
agreement or statutory clause, in compliance with applicable legislation, and of the
Companies over which it exercises autonomous control of a majority of votes thanks to
agreements with other partners.
As compared to December 31, 2001, the consolidation area was further modified by entry
into the Group among others of Liberty Surf, the German Companies Addcomm and
Guglielmo GmbH and the English Company Springboard Internet Services Ltd.
The following have been excluded from the integral consolidation: subsidiaries whose
financial statement values are of slight relevance; subsidiaries in which the exercise of
voting rights is subject to serious and lasting restrictions; subsidiaries held exclusively in
view of future disposal and non-operating subsidiaries. Participations that constitute non-
current assets in non-consolidated subsidiaries and participations in affiliated Companies
of a certain importance are valued by means of the net equity method. Affiliated
Companies are those in which Tiscali SpA, either directly or indirectly, controls one fifth of
ordinary meeting votes, or one tenth of said votes if the Company is listed on the Stock
Exchange.
The list of participations valued with the net equity method is enclosed. Participations
which constitute non-current assets in non-consolidated subsidiaries and in affiliated