Consolidated Financial Statements
ii. All costs associated with acquisition are re-
corded as expenses.
Also has been applied since 1 January 2010 the
revised IAS 27, which requires that all transac-
tions with the “non- controlling interest” are
recorded in equity, when there is no change in
control of the entity, there is no place to record
goodwill or gains or losses. When there is a loss
of control exercised over the entity, any remain-
ing interest on the principal is remeasured at fair
value, and a gain or loss is recognized in the re-
sults of the exercise.
Balances and gains arising from transactions be-
tween group companies are eliminated. Losses
not realised are also eliminated, except when
the transaction reveals that a transferred as-
set is subject to impairment. The subsidiaries’
accounting policies are altered whenever nec-
essary to ensure consistence with the group’s
policies.
(b) Jointly controlled companies
The financial statements of jointly controlled
companies were included in these consolidated
financial statements by the equity method, un-
der the adoption of IFRS 11, as of the date on
which the joint control is acquired. According to
this method, these companies’ assets, liabilities,
income and costs were included in the annexed
consolidated financial statements in one line in
the consolidated statement of financial posi-
tion and in one line in the consolidated state-
ments of comprehensive income. Transactions,
balances and dividends paid among group com-
panies and jointly controlled companies are not
eliminated in the proportion of the control as-
signed to the group. The excess acquisition cost
compared with the fair value of the identifiable
assets and liabilities on the acquisition date of
a jointly controlled company is recognised as a
financial investment.
Jointly controlled companies are listed in Note 5.
2.3 REPORT PER SEGMENT
An operating segment is a component of an entity
that engages in business activities from which it
may earn revenues and incur expenses (including
revenues and expenses relating to transactions
with other components of the same entity) whose
operating results are reviewed regularly by the
entity’s chief operating decision maker to make
decisions about resources to be allocated to
the segment and assess its performance and for
which separate financial information is available.
The group’s head office – which also hosts the
largest operating company, is in Portugal. Its
business activity is in the restaurant segment.
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