Annual Report 2009/2010 Geschäftsbericht 2009/2010 ... - biolitec AG

102 Annual Financial Statement Konzern-Jahresabschluss
Deferred tax claims and tax liabilities are balanced, as far as they concern taxes on profits which are
raised by the same tax authority, and which the group intends to carry out the balance of his current tax
claims and tax liabilities on net base.
Contingent liabilities
Contingent liabilities are not balanced. A contingent liability exists in cases of a current, legal or factual
obligation and an outflow of resources is possible, but not probable. An event is considered to be probable,
if there is more in favour of the event occurring than there is against it. However, contingent liabilities
are indicated in the appendix.
Contingent claims are not balanced either. They are indicated in the appendix, if the inflow of economic
benefits is probable.
Sales revenue is generated mainly from the selling of medical lasers and the corresponding medical
probes, optical fibers and pharmaceutical products.
Sales revenue – reduced for value added tax and discounts – is recorded as soon as all material rewards
and risks of ownership have been transferred to the purchaser.
Income from the selling of goods is recorded after the following conditions are met:
- The group has transferred all relevant rewards and risks of ownership to the purchaser.
- The company keeps neither another existing right of disposal as it is normally connected with the
property, nor an effective power of disposition on the sold goods and products.
- The price can be reliably determined.
It is probable that the economic benefit of the business transaction will be received by the company
and the cost of sales related to the business transaction can be determined or will be determined with
certainty.
Income from services is recorded as soon as the service is completed and it is sufficiently probable the
company receives the economic benefit from the contract. Income not related to the operational business
is recorded as other income.
Interest income is recorded at the time of their origin according to the effective interest method. The
effective interest rate is the interest rate by which expected future payments of the financial asset are
discounted on the net book value of this asset for its duration.