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2.10 ACCOUNTS RECEIVABLE FROM CLIENTS
AND OTHER DEBTORS
Accounts receivable from clients and other debtors
are initially recognised at the fair value. Medium and
long term debts are subsequently measured at the
amortised cost, using the effective rate method minus
the impairment adjustment. The impairment adjust-
ment of accounts receivable is determined when there
is objective evidence that the group will not receive
all the owed amounts according to the original con-
ditions of the accounts receivable. The impairment
adjustment value is the difference between the pre-
sented value and the current estimated value of future
cash flows, discounted at the effective interest rate.
The impairment adjustment value is recognised in the
consolidated statement of comprehensive income.
2.11 CASH AND CASH EQUIVALENTS
Cash and cash equivalents include cash amounts,
bank deposits, other short term investments with high
liquidity and initial maturities of up to 3 months and
bank overdrafts. Bank overdrafts are presented in the
consolidated statement of financial position, in cur-
rent liabilities, in the Obtained Loans item.
2.12 SHARE CAPITAL
Ordinary shares are classified in equity.
Incremental costs directly attributable to the emission
of new shares or options are presented in equity as a
deduction, net of taxes, of entries.
When any group company acquires shares in the par-
ent company (own shares), the amount paid, includ-
ing costs directly attributable (net of taxes), is deduct-
ed from the equity attributable to the shareholders of
the parent company until the shares are cancelled, re-
issued or sold. When those shares are subsequently
sold or re-issued and after deducting directly imputa-
ble transaction costs and taxes, any receipt is included
in the equity of the company’s shareholders.
2.13 LOANS OBTAINED
Loans obtained are initially recognised at the fair value,
including incurred transaction costs. Medium and long
term loans are subsequently presented at cost minus
any amortisation; any differencebetween receipts (net of
transaction costs) and the amortised value is recognised
in the consolidated statement of comprehensive income
during the loan period, using the effective ratemethod.
Loans obtained are classified in current liabilities, ex-
cept when the group is entitled to an unconditional
right to defer the liquidation of the liability for at least
12months after the consolidated statement of financial
position date.
