Citibank Performance Evaluation Case Study
Annual Report
Consolidated and Statutory
Financial Statements at December 31, 2006
101st fiscal year
Fiat S.p.A.
Financial Statements at December 31, 2006
234 Financial Review of Fiat S.p.A.
238 Income Statement
239 Balance Sheet
240 Statement of Cash Flows
241 Statement of Changes in Stockholders’ Equity
I am enough of an artist to draw freely upon my imagination. Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world. Albert Einstein
242 Income Statement pursuant to Consob Resolution
No. 15519 of July 27, 2006
243 Balance Sheet pursuant to Consob Resolution
No. 15519 of July 27, 2006
244 Notes to the Financial Statements
301 Appendix – Transition of the
Parent Company Fiat S.p.A. to International
Financial Reporting Standards (IFRS)
Financial Review of Fiat S.p.A.
The financial statements illustrated and commented on in the following pages have been prepared on the basis of the company’s statutory financial statements at December 31, 2006 to which reference should be made. In compliance with European Regulation no. 1606 of July 19, 2002, starting from 2005 the Fiat Group has adopted International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) in the preparation of its consolidated financial statements. On the basis of national laws implementing that Regulation, starting from 2006 the Parent Company Fiat S.p.A. is presenting its financial statements in accordance with IFRS, which are reported together with comparative figures for the previous year.
Operating Performance
Specifically:
Personnel and operating costs, totalling 199 million euros, comprise 58 million euros in personnel costs (60 million euros in 2005), and 141 million euros in other operating costs (121 million euros in 2005), which include the costs for services, amortisation and depreciation and other operating costs. These costs increased as a whole
Consolidated and Statutory
Financial Statements at December 31, 2006
101st fiscal year
Fiat S.p.A.
Financial Statements at December 31, 2006
234 Financial Review of Fiat S.p.A.
238 Income Statement
239 Balance Sheet
240 Statement of Cash Flows
241 Statement of Changes in Stockholders’ Equity
I am enough of an artist to draw freely upon my imagination. Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world. Albert Einstein
242 Income Statement pursuant to Consob Resolution
No. 15519 of July 27, 2006
243 Balance Sheet pursuant to Consob Resolution
No. 15519 of July 27, 2006
244 Notes to the Financial Statements
301 Appendix – Transition of the
Parent Company Fiat S.p.A. to International
Financial Reporting Standards (IFRS)
Financial Review of Fiat S.p.A.
The financial statements illustrated and commented on in the following pages have been prepared on the basis of the company’s statutory financial statements at December 31, 2006 to which reference should be made. In compliance with European Regulation no. 1606 of July 19, 2002, starting from 2005 the Fiat Group has adopted International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) in the preparation of its consolidated financial statements. On the basis of national laws implementing that Regulation, starting from 2006 the Parent Company Fiat S.p.A. is presenting its financial statements in accordance with IFRS, which are reported together with comparative figures for the previous year.
Operating Performance
Specifically:
Personnel and operating costs, totalling 199 million euros, comprise 58 million euros in personnel costs (60 million euros in 2005), and 141 million euros in other operating costs (121 million euros in 2005), which include the costs for services, amortisation and depreciation and other operating costs. These costs increased as a whole