Tiscali 2013 Annual Report Download - page 77
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Annual financial report as at 31 December 2013
Date
File Name
Status
Page
-
Annual Report as at 31
December 2013
77
Current liabilities
Payables to banks and other lenders
15,869
0
15,869
Payables for financial leases
95
0
95
Payables to suppliers
128,633
0
128,633
Other current liabilities
62,746
0
62,746
207,343
0
207,343
Liabilities directly related to assets held for sale
(0)
0
(0)
Total Liabilities and Shareholders’ equity
253,954
0
253,954
(*) The figures as at 31 December 2012 have been recalculated so as to assimilate the effect of the application,
as from 1 January 2013 (retrospectively), of the new revised IAS 19 accounting standard (employee benefits); for
further details please see the section “Form and content of the accounting statements”.
Remuneration schemes involving interests in the share capital
At present, there are no remuneration schemes involving interests in the share capital
Provisions for risks and charges
Provisions for risks and charges relating to potential legal and tax liabilities are established following
estimates performed by Directors on the basis of judgements developed by the Group legal and tax
advisors, concerning the charges that are reasonably deemed to be incurred in order to settle the
obligation. If in relation to the final result of such judgements, the Group is called upon to fulfil an
obligation for a sum other than that estimated, the related effects are reflected in the income
statement.
Treasury shares
Treasury shares are booked to reduce the shareholders’ equity.
Revenue recognition
Revenues are stated to the extent that it is probable that the Group will receive the economic benefits
and their amount can be determined reliably. They are stated net of discounts, rebates and returns.
Revenues for the provision of services are stated in the income statement with reference to the stage
of completion of the service and only when the result of the service can be reliably estimated.
In particular, recognition in the income statement for revenues from internet access services
(narrowband and broadband) and voice services, is based on the actual traffic produced at the
reference date and/or the periodic service fee payable at that date.
The revenues related to the activation of broadband services (ADSL) are booked to the income
statement on a straight-line basis over 36 months. Amounts relating to other financial periods are
recorded under other current liabilities as deferred income.
Financial income and charges
Interest received and paid, including interest on bond issues, is recognised using the effective interest
rate method.