Cyans Annual Report 2019

(marinoscy71) #1

II. Operating expenses
Actual operating expenses for 2019 amounted to €11.4 million compared to €15.6 million
calculated as determined cost for 2019 (decrease of €4.2 million or -27%) and €13 million as
actual cost for 2018 (decrease of €1.6 million or 12% ).


III. Depreciation and Cost of Capital
Depreciation and cost of capital for 2019
amounted to €5,3 million compared to
€10,5 million calculated as determined cost
for 2019 (decrease of €5,2 million or -
49.6%). The difference between the actual
costs for 2019 and the determined costs for
201 9 is mainly due to the non-
implementation of some technical
infrastructure projects.
Projects that have been delayed in the
schedules set during the Second Reference
Period and will be transferred to the Third
Reference Period as new projects are as
follows:
 DATALINK
 VCCS-AKROPOLIS
 IP NETWORK/PENS


C. Cost Allocation Method

The CyANS’s costs are allocated to the different Air Navigation Services, ATM, CNS and AIS,
based on the following criteria:



  • activities or tasks performed;

  • the personnel employed;

  • the assets / projects employed to the various Air Navigation Services.


D. Basis of measurement and statement of compliance
The DCAC-ANS Section, being a State entity, applies a cash basis method. Moreover, it is
audited by the Auditor General of the Republic and publishes (through the Accountant
General office) its financial accounts, which comply with the International Accounting
Standards /International Financial Reporting Standards (IAS/IFRS). The DCAC-CyANS Section
ensures compliance with the International Accounting Standards to the maximum possible
extent. The financial statements have been prepared under the historical cost basis.


Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and
any provision for impairment in value. The cost of property, plant and equipment
includes internal and contracted labour costs directly attributable to bringing the
assets into working condition for their intended use.
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