Page 171 - A&T BANK ANNUAL REPORT 2012

169 168 A&T BANK 2012 ANNUAL REPORT •
ARAP TÜRK BANKASI ANONİM ŞİRKETİ
CONSOLIDATED FINANCIAL REPORT
AS OF 31 DECEMBER 2012
(Currency: Thousands of Turkish Lira (“TL”) unless otherwise stated)
Convenience Translation of Consolidated Financial
Report Originally Issued in Turkish
See Note on I. in Section Three
XI. Information on assets held for sale and discontinued operations
An asset that is classified as held for sale (or to be discarded fixed assets) is measured with its book value or cost deducted
fair value, depending on the lower one. An asset to be classified asset held for sale, particular asset (or to be discarded fixed
assets) should be similar to these types of assets and should be able to be sold immediately with commonly accepted terms
and conditions. Asset should be marketed in line with its fair value. For selling probability to be high, relevant management
level should plan the sale and should finalize the plan by determining the buyers.
Assets held for sale are comprised of tangible assets acquired due to non performing receivables, and are accounted in the
consolidated financial statements in accordance with the “Regulation On The Disposals of The Commodities and Properties
Acquired Due to Receivables and The Purchase and Sale of Precious Metals by Banks” dated 1 November 2006 and published
on the Official Gazette No.26333.
A discontinued operation is classified as the Group assets discarded or assets held for sales. Information on discontinued
operations is presented separately in consolidated income statement. As at reporting date, the Group does not have any
discontinued operations.
XII. Information on goodwill and other intangible assets
There is no goodwill in the accompanying consolidated financial statements related to the acquisition of a subsidiary.
The Group intangible assets consist of software.
Intangible assets are initially recorded at their costs in compliance with the TAS 38 – Intangible Assets.
The costs of the intangible assets purchased before 31 December 2004 are restated from the purchasing dates to 31 December
2004, the date the hyperinflationary period is considered to be ended. The intangible assets purchased after this date are
recorded at their historical costs. The intangible assets are amortized based on straight line amortization. The useful life of
software is determined as 5 years.
If there is objective evidence of impairment, the asset’s recoverable amount is estimated in accordance with the TAS 36
– Impairment of Assets and if the recoverable amount is less than the carrying value of the related asset, a provision for
impairment loss is made.
XIII. Information on tangible assets
The costs of the tangible assets purchased before 31 December 2004 are restated from the purchasing dates to 31 December
2004, the date the hyperinflationary period is considered to be ended. In subsequent periods no inflation adjustment is made
for tangible assets, and costs which are restated as of 31 December 2004 are considered as their historical costs. Tangible
assets purchased after 1 January 2005 are recorded at their historical costs after foreign exchange differences and financial
expenses are deducted, if any.
Gains and losses arising from the disposal of the tangible assets are calculated as the difference between the net book value
and the net sales price and recognized in the income statement of the period.