Nabaltec_E_GB2016

MAJOR ACCOUNTING POLICIES 73 attribu table personnel expenses and other direct costs, as well as a reasonable share of overhead costs. The capitalized amounts are depreciated over the useful life of the asset once it is commis- sioned. Capitalized development costs are tested for impairment once a year if the asset has yet to be used or if there are indications of impairment over the course of the year. Nabaltec AG generally capitalizes all material development costs which accrue in the develop- ment phase of internally developed software. These costs are depreciated over the expected useful life of the software beginning with initial use. Since the Group’s development projects are often subject to official approval procedures and other unpredictable events, the requirements for the capitalization of costs accruing prior to approval are generally not met, or the amount of such costs in the brief period between the research/approval and market launch is immaterial. No development costs were capitalized as of 31 December 2016 (year before: EUR 0 thousand). INTANGIBLE ASSETS 4.4 Purchased intangible assets are recognized at cost less straight-line depreciation. Depreciation of intangible assets is generally performed in straight-line fashion over the useful life of the asset. The depreciation term is as follows: ■ IT software 4 to 5 years The residual values of assets, useful lives and depreciation methods are examined at the end of each year and adapted if necessary. Intangible assets with an indefinite useful life do not exist. Reference is made to Section 4.3, “Research and development costs,” for the capitalization of development costs as self-created intangible assets. PROPERTY, PLANT AND EQUIPMENT 4.5 Property, plant and equipment are recognized at cost less depreciation, in accordance with the expected useful life of the asset. The cost includes a reasonable share of attributable overhead costs in addition to direct costs. Depreciation on property, plant and equipment is performed using the straight-line method. The depreciation terms are as follows: ■ Production and office buildings ■ Technical equipment and machinery ■ Fixtures, fittings and equipment 20 to 50 years 5 to 22 years 3 to 20 years The residual values of assets, useful lives and depreciation methods are examined at the end of each year and adapted if necessary. Annual Report 2016 | Nabaltec AG |||| S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C

Seitenübersicht