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

84 Annual Financial Statement Konzern-Jahresabschluss
The following exchange rates were used for currency conversion:
Country Currency Unit Rate
June 30, 2010
USA Dollar 1 USD
Latvia Lats 1 LVL
Malaysia Ringgit 1 MYR
UK Pound 1 GBP
Euro
Average rate
July 1, 2009
- June 30, 2010
Euro
Rate
June 30, 2009
Euro
0.81930 0.72110 0.71192
1.41460 1.42151 1.43511
0.25240 0.21414 0.20144
1.23480 1.13819 1.17599
Japan Yen 1 JPY 0.00924 0.00788 0.00745
India Rupien 1 INR 0.01763 0.01549 0.01472
Russia Rouble 1 RUB 0.02621 0.02390 0.02287
Argentinia Argentinien Peso 1 ARS 0.20850 0.18797 0.18788
Brazil Real 1 BRL 0.45720 0.40214 0.36696
Dubai Dirham 1 AED 0.22310 0.19638 0.19392
3.6. Segment Reporting
The IAS 14, segment reporting, has been replaced by the IFRS 8, operating segments. The reporting
starts with the business year 2009/2010 whereas the figures from the previous years were adapted in
line with IFRS. The operating segments were identified in accordance with IFRS 8.5 and the reporting
structure in accordance with the IFRS 8.25‘s full management approach.
3.7. Use of estimates
For the annual financial statements the Executive Board is obliged to make estimates and assumptions
which could affect the figures of assets and liabilities in the balance sheet, of items of the income statements
and of the cash flow statement, as well as specifications in the annex.
The estimates and assumptions relate mainly to the evaluation of the recoverability of intangible assets,
identification of reduced cash flows in the context of recoverability tests, determination of the useful
economic life of fixed assets, possible recovering of receivables, as well as to the balancing and evaluation
of accruals, e.g. in case of litigation or indemnity bonds. The estimates and assumptions relate to
premises that are based on the respective actually disposable state of knowledge. Particularly regarding
the expected future business development, we considered the given circumstances at the time when
the consolidated financial statements were prepared as much as the future development, presumed as
realistic, of the global and sector-specific surroundings. The estimates are based on our experience and
other assumptions that may - under the given circumstances - be considered as appropriate. They are
continuously reassessed but may nevertheless deviate from the actual results.