Page 49 - Bouvet årsrapport ENG 2010 ePub

Bouvet annual report 2010 49

Note 10: Property, plant and equipment

NOK 1 000

EDP equipment

Offce machines and vehicles

Fixtures

and fttings Total 2010

EDP equipment

Offce machines and vehicles

Fixtures

and fttings Total 2009

Acquisition cost

Accumulated 1 January 22 521 2 390 7 585 32 496 21 801 2 335 7 099 31 235 Additions of the year 8 510 534 1 015 10 059 4 043 429 1 177 5 649 Disposals of the year -77 0 0 -77 -3 323 -374 -692 -4 389 Accumulated 31 December 30 954 2 924 8 600 42 478 22 521 2 390 7 584 32 495

Depreciation

Accumulated 1 January 15 705 1 415 3 744 20 864 14 419 1 348 3 583 19 350 Disposals of ordinary depreciation -37 0 0 -37 -3 269 -255 -692 -4 216 This year's ordinary depreciation 5 395 394 881 6 670 4 555 322 853 5 730 Accumulated 31 December 21 063 1 809 4 625 27 497 15 705 1 415 3 744 20 864

Book value

Book value at 1 January 6 816 975 3 841 11 631 7 382 987 3 516 11 885 Book value at 31 December 9 891 1 115 3 975 14 981 6 816 975 3 840 11 631

Depreciation rate 20-33 % 20 % 10-20 % 20-33 % 20 % 10-20 % Economic life 3-5 years 5 years 5-10 years 3-5 years 5 years 5-10 years Depreciation method linear linear linear linear linear linear

Total non-current assets, except for defered tax assets and fnancial assets, located in Norway; NOK million 34, and the remaining part in Sweden NOK million 4.

Note 11: Work in progress

Te Group recognises as income, sales of services in line with the deliveries. Customer projects are recognised as income in accordance with the project’s degree of completion, provided that the outcome of the transaction can be reliably estimated. Progress is measured as incurred hours in relation to total estimated hours. In the event that the outcome of the transaction cannot be reliably estimated, only income corresponding to incurred project costs are taken to income, given that it is likely that the income will be greater than the incurred project costs. Any estimated loss on a project will be fully recognised in the income statement in the period when it is identifed that the project will result in a loss.

At the balance sheet date, processed but not billed services amounted to NOK million 65,25 (2009 NOK million 47,57). NOK million 58,22 (NOK million 38,42 i 2009) of these constituted services delivered on account at the end of the previous accounting year, and NOK million 7,03 (NOK million 9,15 i 2009) was related to customer projects. Services delivered on running accounts at the end of previous accounting year was invoiced to customers at the beginning of January 2011. Tis income is settled based on degrees of comple-tion as described above and in notes 1 and 3.