Disclosure Of Material Accounting Policy Information [Text Block]

FACC AG - Filing #5629162

Concept	2024-01-01 to 2024-12-31
Disclosure of material accounting policy information [text block]	—
Description of accounting policy for borrowing costs [text block]	The manufacturing costs of property, plant and equipment include individual costs and reasonable parts of the overhead costs as well as borrowing costs in the case of qualified assets.
Description of accounting policy for cash flows [text block]	Consolidated statement of cash flows (IAS 7)
Description of accounting policy for contingent liabilities and contingent assets [text block]	Energy purchasing agreements
Description of accounting policy for deferred income tax [text block]	Deferred taxes are recognized for all temporary differences between the tax base of assets and liabilities and their carrying amounts in the IFRS-based financial statements (liabilities method). Deferred taxes are valued based on the tax rates applicable when the temporary differences have been reversed after the balance sheet date. Deferred tax receivables are only recognized to the extent to which it is probable that the corresponding tax benefits will be realized.
Description of accounting policy for derivative financial instruments [text block]	Derivative financial instruments
Description of accounting policy for derivative financial instruments and hedging [text block]	The hedging strategies employed by the Group’s Accounting & Treasury department are designed to control and minimize the impact of exchange rate fluctuations. The Management Board approves the strategies and reports regularly to the Supervisory Board.
Description of accounting policy for determining components of cash and cash equivalents [text block]	Cash and cash equivalents
Description of accounting policy for employee benefits [text block]	Employee benefit obligations
Description of accounting policy for expenses [text block]	Leasing (IFRS 16)
Description of accounting policy for fair value measurement [text block]	46
Description of accounting policy for finance costs [text block]	FACC presents the item “Interest received” in the cash flow from operating activities. “Interest paid” is shown in the cash flow from financing activities.
Description of accounting policy for financial assets [text block]	Financial instruments (IAS 32, IFRS 7, IFRS 9, IFRS 13)
Description of accounting policy for financial instruments at fair value through profit or loss [text block]	The FACC Group also has a factoring program in place for eleven selected customers. The unsold receivables from the factoring portfolio are allocated to the “hold and sell” business model in accordance with IFRS 9. The latter is measured at fair value through other comprehensive income.
Description of accounting policy for functional currency [text block]	5
Description of accounting policy for government grants [text block]	Government grants (IAS 20)
Description of accounting policy for impairment of financial assets [text block]	Impairment of assets
Description of accounting policy for impairment of non-financial assets [text block]	When assessing the need for impairment, the company distinguishes between impairment tests in accordance with IFRS 15 for contract fulfillment costs, whereby tests are carried out at the level of individual or joint projects (same aircraft type, etc.), and impairment tests in accordance with IAS 36 at the level of cash-generating units (segments).
Description of accounting policy for income tax [text block]	Income taxes (IAS 12)
Description of accounting policy for loans and receivables [text block]	Receivables and other assets
Description of accounting policy for measuring inventories [text block]	inventory
Description of accounting policy for intangible assets and goodwill [text block]	Intangible assets (IAS 36, IAS 38, IFRS 3, IAS 23)
Description of accounting policy for interest income and expense [text block]	Accrued interest expenses are included in current financial liabilities.
Description of accounting policy for programming assets [text block]
Description of accounting policy for property, plant and equipment [text block]	Useful life of assets
Description of accounting policy for provisions [text block]	Provisions
Description of accounting policy for recognition of revenue [text block]	Revenue recognition (IFRS 15)
Description of accounting policy for segment reporting [text block]	The capital consolidation of fully consolidated affiliates is performed according to the acquisition method, which involves comparing the consideration paid with the revalued net assets (equity) of the acquired entity at the time of acquisition. Under IFRS 3, assets, liabilities and contingent liabilities, to the extent that they can be identified, are recognized at fair value on initial consolidation; any remaining positive difference between the procurement costs and the revalued equity share is capitalized as goodwill in the respective segment in the respective national currency. A negative difference is recognized in the Profit and Loss Statement under other operating income.
Description of accounting policy for subsidiaries [text block]	3
Description of accounting policy for termination benefits [text block]	Employee benefit obligations (IAS 19)
Description of accounting policy for trade and other payables [text block]	Liabilities
Description of accounting policy for trade and other receivables [text block]	Other non-current financial assets (securities)