38
Annual financial statements
Low-value assets are fully written off in their years of acquisition.
The useful life on which the scheduled depreciation is based range
from five to 67 years in the case of immobile assets and three to 20
years in the case of mobile assets.
Non-scheduled depreciation is undertaken in the event of probable
long-term losses of value.
Cost of company issues
Issue costs and premium or discount are distributed evenly over
the term of the debt.
Pension provision
The pension provisions have been calculated according to
recognised actuarial principles, applying the entry age normal
method, based on a technical interest rate of 2 per cent (2013: 2
per cent), using the Pagler & Pagler mortality tables (AVÖ 2008)
and taking the individual retirement age into account. No staff
turnover deduction was made. Monetary value adjustments are
allowed for by using the real interest rate.
Provision for redundancy payments and similar
obligations
Provisions for redundancy payment obligations as of the balance
sheet date have been calculated according to principles of
mathematical finance, applying an interest rate of 2 per cent (2013:
2 per cent) and taking the individual retirement age into account.
Provisions for the obligation to pay long-service bonuses have
been calculated according to principles of mathematical finance
in similar fashion to the redundancy payment obligations. No staff
turnover deduction was made. Monetary value adjustments are
allowed for by using the real interest rate.
Other provisions
Applying the prudence principle, the other provisions take
into account all discernible risks at the time of preparing the
statements, as well as all probable or certain liabilities of uncertain
proportions, for the purpose of setting aside the amounts
necessary in our reasonable commercial judgement.
Liabilities
Liabilities are recognised at the higher of their nominal value or
redemption value.
Impact of the change in balance sheet
classification pursuant to annex 2 to section 43
of the BWG
Annex 2 to section 43 of the BWG was amended as of 01.01.2014.
The reported amounts from the previous year refer to annex 2 to
section 43 of the BWG in the version from BGBl. I 184/2013. The
amounts shown in liabilities 7 and in the items under the balance
sheet liabilities 4 and 5 are not comparable.
The amounts shown in the sub-items 4 and 5 are not comparable
with the previous year’s figures because of the conversion of the
equity standards from Basel II to Basel III in the financial year 2014.
The amount of 4,093,000 euros shown in the previous year under
liabilities 7, subordinate liabilities, and the amount of 13,846
,000 euros shown under liabilities 8, supplementary capital
pursuant to BWG (Basel II), were shown in total under liabilities
7, supplementary capital pursuant to part 2, title I of Directive
(EU) No. 575/2013. In this way, the previous year’s figures were
reported in a manner appropriate for the quality of the capital.
Reference to the disclosure
media pursuant to article 434 of the CRR
Pursuant to section 434 of the BWG, banks are required to disclose
information about their organisational structure, risk management
and risk capital situation at least once a year. This information is
published on RLB Tirol AG’s website at
.
