1. Basis for preparation of consolidated financial statements
The concept of fair value has been applied in the statements for own real property and investment property as well as financial assets and liabilities measured at fair value, including derivative instruments, and financial assets classified as available-for-sale, excluding those for which the fair value cannot be determined in a reliable manner. Other items of financial assets (including loans and receivables) are presented at amortized cost less impairment charges or at purchase price less impairment charges.
Fixed assets for sale are recognised at the lower of their balance sheet value and the fair value minus sales costs.