Crucial 2011 Annual Report Download - page 151
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INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
December 31, 2008, 2009 AND 2010
(All amounts are expressed in thousands of New Taiwan Dollars,
except for per share information or unless otherwise specified)
Inotera Memories, Inc. (the “Company”)
was legally established with the approval by the Ministry of Economic Affairs on
January 23, 2003. The Company’
s main operating activities are manufacturing and selling semiconductor products. In January
2006, the Company was granted approval of its application to list its shares on the Taiwan Stock Exchange (TSE). The
Company’
s shares were initially listed on the TSE on March 17, 2006. On May 16, 2006 and August 4, 2009, the Company
offered its equity shares in the form of global depositary shares (GDSs) for trading in the Multilateral Trading Facility (MTF)
market on the Luxembourg Stock Exchange (LSE).
As of December 31, 2009 and 2010, the Company had 3,112 and 3,457 employees, respectively.
The accompanying financial statements are prepared in conformity with the Guidelines Governing the Preparation of Financial
Reports by Securities Issuers, Business Entity Accounting Act, Regulation on Handling Business Entity Accounting, and
accounting principles generally accepted in the Republic of China (ROC).
The significant accounting policies followed by the Company are as follows:
The preparation of the accompanying financial statements requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the
financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ
from these estimates.
The Company’
s reporting and functional currency is New Taiwan Dollar. Foreign currency transactions during the period are
translated at the exchange rates on the transaction dates. Foreign currency-
denominated assets and liabilities are translated
into New Taiwan Dollars at the exchange rate prevailing on the balance sheet date. The resulting translation gains or losses
are recognized as non-operating income or expenses.
(Continued)
(1)
Organization and Principal Activities
(2)
Summary of Significant Accounting Policies
(a)
Use of estimates
(b)
Foreign currency transactions and translation