AmazonScience/document-haystack

1provided on deductible temporary differences arising from such investments only to the 2extent that it is probable that the differences will reverse in the foreseeable future and 3sufficient taxable income will be available against which those temporary differences can be 4utilized.5Deferred tax related to fair value re-measurement of financial instruments, which are charged 6or credited directly to other comprehensive income, is also credited or charged directly to 7other comprehensive income and subsequently recognized in the statement of income once 8the underlying transaction or event to which the deferred tax relates is recognized in the 9statement of income.10Consolidated Statement of Cash Flows 11The Group’s cash flow statement is prepared using the indirect method for cash flows from 12operating activities. The assignment of cash flows to operating, investing or financing 13activities depends on the Group’s primary operating activity, the asset management. 14Movements in balances carried at fair value through profit or loss shown in cash flows under 15operating activities represent all changes impacting the carrying value. This includes the 16impact of market movements and cash inflows and outflows. In general, the movements 17shown in the consolidated statement of cash flows do not precisely match the movements in 18the consolidated balance sheet from one period to the next as they exclude non-cash items.19For purposes of the consolidated statement of cash flows, the Group’s cash and cash 20equivalents include cash and bank balances on demand.21Accounting Estimates and Assumptions22The preparation of financial statements under IFRS requires the use of accounting estimates 23and assumptions. These assumptions and estimates are based on past experience, planning 24and expectations or forecasts of future events believed to be reasonable under the 25circumstances. Estimates and assumptions used in preparing the financial statements are 26periodically evaluated. Actual results may differ from these estimates. particularly in relation 27to potential impacts of macroeconomic and geopolitical uncertainties.28The Group has identified the following estimates and assumptions as significant:29Fair Values of Financial Assets and Liabilities30The Group uses valuation techniques to establish the fair value of instruments where prices 31quoted in active markets are not available. Therefore, where possible, parameter inputs to the 32valuation techniques are based on observable data derived from prices of relevant 33instruments traded in an active market. These valuation techniques involve some level of 34management estimation and judgment, the degree of which will depend on the price 35transparency for the instrument or market and the instrument’s complexity. 36Management judgement is generally required only to a limited extent to determine the fair 37value of financial instruments with quoted prices in an active market. Similarly, only a few 38subjective valuations or estimates are required for financial instruments that are valued using 39industry-standard models and where all input parameters are quoted in active markets.40The level of expertise and degree of management judgment required is more significant for 41those instruments valued using specialized and sophisticated models and where some or all 42the parameter inputs are less liquid or less observable. Where different valuation techniques 43indicate a range of possible fair values for an instrument then management has to decide 44what point within the range of estimates appropriately represents the fair value. Further, 45some valuation adjustments may require the exercise of management judgment to achieve 46fair value.47The assumptions underlying the determination of fair values for the measurement parameters 48and measurement methods used as well as quantitative disclosures are provided in note ‘09 – 49Financial Instruments’.50Goodwill and Other Intangible Assets 51The Group estimates the fair value of identifiable intangible assets acquired at the acquisition 52date based on forecast profits, taking account of synergies. This assessment involves 53judgement in determining assumptions relating to potential future revenues, profit margins, 54appropriate discount rates and the expected duration of client relationships. The carrying 55amount is reviewed on a regular basis.56The use of estimates is important for the determination of the recoverable amount in the 57impairment assessment of non-financial assets. It requires estimates based on quoted market 58prices, prices of comparable businesses, present value or other valuation techniques, or a 59combination thereof, necessitating management to make subjective judgments and 60assumptions. 61         62To our 63Shareholders64Summarised 65Management Report66Consolidated 67Financial Statements Compensation Report Corporate Govern-68ance Statement69Supplementary 70Information DWS 2023 Annual Report71 72Notes to the Consolidated Financial Statements7385 02 – Significant Accounting Policies and Critical Accounting Estimates74The secret animal #3 is a "shark".