LIFO

Although Pushback has been designed as a dedicated LIFO system, it can also be used for buffer purposes, i.e. for the interim storage of goods later to be transferred to dynamic FIFO-based systems. In this case, the last batch to be stored within the Pushback system...

Champion’s Night

Those who have enjoyed the sweet taste of sporting success will know that leading a team to victory takes not only skill and belief in one’s own abilities but courage and commitment, passion and perseverance. In many ways, sport and business share common values....

Risk

The process of reporting significant risks takes place on a regular basis and is complemented by ad hoc reports to the Management Board in the event of sudden or unexpected risks. Overall responsibility for the independent reporting system, which is standardised...

IFRIC 19

In November 2009, the IASB issued IFRIC 19 “Extinguishing Financial Liabilities with Equity Instruments”. The Interpretation has yet to be endorsed by the European Union and incorporated into European law. The Interpretation specifies that a borrower who...

IFRS 2

In June 2009, the IASB published its amendments to IFRS 2 “Share-based Payment”. The amendments were endorsed by the European Union in March 2010 and incorporated into European law. The amendments relate to the accounting of “group-settled...