Saab 2010 Annual Report Download - page 83
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Tangible xed assets
Tangible xed assets are recognised aer revaluation, if necessary. All leases
are recognised according to the rules for operating leasing.
Borrowing costs
e Parent Company recognises borrowing costs as an expense in the period
in which they arise.
Investment properties
Investment properties are recognised according to acquisition cost method.
Financial assets and liabilities and other nancial instruments
e Parent Company carries nancial xed assets at cost less impairment and
nancial current assets according to the lowest value principle. If the reason
for impairment has ceased, it is reversed.
e Parent Company does not apply the rules for setting o nancial
assets and liabilities.
Derivatives and hedge accounting
Derivatives that are not used for hedging are carried by the Parent Company
according to the lowest value principle. For derivatives used for hedging, rec-
ognition is determined by the hedged item. is means that the derivative is
treated as an o balance sheet item as long as the hedged item is recognised at
cost or is not included on the balance sheet. Receivables and liabilities in for-
eign currency hedged with forward contracts are valued at the forward rate.
Employee benets
e Parent Company complies with the provisions of the Law on Safeguarding
of Pension Commitments and the regulations of the Swedish Financial
Supervisory Authority, since this is a condition for tax deductibility.
Untaxed reserves
e amounts allocated to untaxed reserves constitute taxable temporary dif-
ferences. Due to the connection between reporting and taxation, the deferred
tax liability is recognised in the Parent Company as part of untaxed reserves.
Group contributions and shareholders’ contributions for legal entities
Shareholders’ contributions are recognised directly in the equity of the recipi-
ent and capitalised in the shares and participating interests of the contributor,
to the extent impairment is not required.
Group contributions are recognised based on their economic intent. is
means that Group contributions paid in order to minimise the Group’s total
taxes are recognised directly against retained earnings aer deducting the
current tax eect. Group contributions equated with dividends are recog-
nised as a dividend. is means that Group contributions received and the
eect on current tax are recognised in prot or loss. Group contributions
paid and eect on current tax are recognised directly in retained earnings.
Group contributions equated with shareholders’ contributions are recog-
nised by the recipient directly in retained earnings taking into account the
eect on current tax. e contributor recognises Group contributions and
the eect on current tax as an investment in shares in Group companies with
subsequent impairment testing.
FINANCIAL INFORMATION > NOTES
80 SAAB ANNUAL REPORT 2010