Tiscali 2009 Annual Report Download - page 121
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Tiscali Group: Annual Report 2009
120
Altri crediti e attività diverse correnti (nota 22)
31 December 2009 31 December 2008
(EUR 000)
Other receivables 13,996 15,690
Accrued income 2,276 15,343
Prepaid expense 10,815 15,761
Total 27,087 46,794
Other Receivables, amounting to about EUR 14 million, mainly include VAT receivables for EUR 5.1 million,
advances to suppliers amounting to approximately EUR 7 million and other receivables due from tax
authorities for EUR 1.2 million.
Accrued income (EUR 2.3 million) mainly relates to shares of revenues for the sale of ADSL services during
the period, but not yet billed.
Prepaid expenses were affected by the changes in accounting estimates related to the policy for recognizing
revenues described in the section “Assumptions for the application of accounting standards – Policy for
recognizing revenues”. The effect of this change in the accounting estimate amounts to about EUR 1 million.
Prepaid expenses of EUR 10.8 million relate to costs already incurred and carried over to the subsequent
period, mainly for multi-year rental of lines, hardware and software maintenance costs and costs for
insurance and advertising.
Prepaid expenses were affected by the changes in accounting estimates related to customer acquisition
costs described in the section “Assumptions for the application of accounting standards - Activation costs
and customer acquisition costs”. The effect of this change in the accounting estimate amounts to about
EUR 2.6 million.
Other current financial assets (note 23)
31 December 2009 31 December 2008
(EUR 000)
Guarantee deposits 31,454 2,709
Other receivables 30 721
Total 31,484 3,430
Other current financial assets include the escrow account for the UK sale, which amounts to EUR 31.4
million and can be freed in two tranches, in June and December 2010.
For further information see note 11 “Operating assets disposed of and/or assets held for sale” and the
section “Disputes, contingent liabilities and commitments”.
Cash and Cash Equivalents (note 24)
Cash and cash equivalents at 31.12.09 amounted to EUR 16.2 million and include the Group’s cash,
essentially held in bank current accounts.
For the comments relating to the change in cash and cash equivalents, please refer to the Consolidated
Cash Flow Statement.