Bayer AG (2011)
Notes to the Consolidated Financial Statements of the Bayer Group [extracts]
4 Basic principles, methods and critical accounting estimates [extracts]
Financial assets [extracts]
Financial assets comprise loans and receivables, acquired equity and debt instruments, cash and cash equivalents, and derivatives with positive fair values. […]
Financial assets are initially recognized at fair value plus transaction costs. … Interest-free or low-interest receivables are initially reflected at the present value of the expected future cash flows.