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B.14 CASH AND CASH EQUIVALENTS
B.15 TRADE AND OTHER PAYABLES
B.16 BORROWINGS FROM BANKS AND OTHER LENDERS
Cash and cash equivalents include cash, demand bank
deposits and other short-term investments, with original
maturities of three months or less. Current account overdrafts
are classified as financial payables under current liabilities
Trade and other payables are initially recognised at fair value and subsequently valued on the basis of the amortised cost
method.
Borrowings from banks and other lenders are initially
recognised at fair value, less directly attributable costs.
Subsequently, they are measured at amortised cost, using the
effective interest rate method. If the estimated expected cash
flows should change, the value of the liabilities is recalculated
to reflect this change using the present value of the expected
new cash flows and the effective internal rate originally
established. Borrowings from banks and other lenders are
classified as current liabilities, except where the Group has an
in the statement of financial position. Amounts reported in
cash and cash equivalents are stated at fair value and related
changes are recognised through profit or loss.
unconditional right to defer their payment for at least twelve
months after the reporting date.
Borrowings from banks and other lenders are derecognised
when they are extinguished and when the Group has
transferred all the risks and costs relating to such instruments.
Purchases and sales of financial liabilities are accounted for at
the settlement date.
