诺华公司Novartis AG (NVS) 2011年年度报告「NYSE」.pdf

1、NOVARTIS GROUP ANNUAL REPORT 20112001.ACCOUNTING POLICIES(CONTINUED)otherwise reasonably estimate expected future returns,Novartisrecords a provision for estimated sales returns.In doing so itapplies the estimated rate of return,determined based on histori-cal experience of customer returns or consi

2、dering any other rele-vant factors,to the amounts invoiced also considering the amountof returned products to be destroyed versus products that can beplaced back in inventory for resale.Where shipments are made ona re-sale or return basis,without sufficient historical experience forestimating sales

3、returns,revenue is only recorded when there isevidence of consumption or when the right of return has expired.Provisions for revenue deductions are adjusted to actual amountsas rebates,discounts and returns are processed.RESEARCH&DEVELOPMENTInternal Research&Development(R&D)costs are fully charged t

4、othe consolidated income statement in the period in which they areincurred.The Group considers that regulatory and other uncertain-ties inherent in the development of new products preclude the cap-italization of internal development expenses as an intangible assetuntil marketing approval from a regu

5、latory authority is obtained ina major market such as for the US,the EU,Switzerland or Japan.Payments made to third parties in compensation for subcon-tracted R&D that is deemed not to enhance the intellectual prop-erty of Novartis such as contract research and development organ-izations are expense

6、d as internal R&D expenses in the period inwhich they are incurred.Such payments are only capitalized if theymeet the criteria for recognition of an internally generated intangi-ble asset,usually when marketing approval has been achieved froma regulatory authority in a major market.Payments made to