Page 72 - EVRY Annual Report 2012

Annual Accounts Group 72
Accounting principles
1. General information
EVRY ASA is a Norwegian public limited company, and is subject to the Public Limited Liability Companies Act. The
company changed its name in 2012 fromEDB ErgoGroup ASA. The company’s registered office is at Nedre Skøyen vei 26,
NO-0276 Oslo. The company is listed on the Oslo Stock Exchange (“Oslo Børs”) under the ticker EVRY.
The main activities of the parent company EVRY ASA and its subsidiaries (the ‘group’) are the sale of software, IT solu-
tions and consulting services, as well as the centralised and decentralised operation of computer systems. In addi-
tion, the group offers outsourcing services and services related to data communication, data security and electronic
publishing.
The consolidated accounts were given an account by the Board of Directors on 5 April 2013 and will be placed before the
Annual General Meeting for approval on 13 May 2013.
2. Basis of presentation of the group accounts
In accordance with the Norwegian Accounting Act, the Annual Accounts (consolidated accounts of the group and un-
consolidated accounts of the parent company) of EVRY ASA have been prepared in accordance with the International
Financial Reporting Standards (IFRS) as published by IASB and approved by the EU. The accounts have been prepared on
a historical cost basis with the exception of financial derivatives and share based investments, which are measured at fair
value.
The group’s business is, for internal reporting requirements, divided into three strategic segments, each of which is
separately organised and managed. Financial information about the segments and geographic areas of activity is pre-
sented in note 3: Segment information.
In preparing the accounts for the 2012 financial year, the group has implemented all the new and revised standards and
interpretations issued by IASB and approved by the EU that are relevant to its activities and that were in force for the ac-
counting year commencing on January 1 2012. A review of the standards and interpretations that had not come into force
for the 2011 financial year but that may be relevant for the group is provided at the end of the statement of accounting
principles.
The accounting principles applied are consistent with the principles applied in the previous approved consolidated
accounts. In 2012, the group implemented the following new standards and interpretations issued by the IASB and
approved by the EU that are relevant for its business activities and that came into force for the accounting year that com-
menced on 1 January 2012
• IFRS 7 Financial Instruments – Disclosures (amendment)
The implementation of the standards has not caused any changes to the accounting principles applied. The group did not
elect early adoption of any standards or interpretations for the accounting year 2012.
3. Summary of material accounting principles
The material accounting principles used to prepare the annual accounts of EVRY ASA are as follows:
Presentation and functional currency
The group presents its accounts in Norwegian kroner (NOK). This is also EVRY ASA’s functional currency (consolidated
accounts of the group and un-consolidated accounts of the parent company). The figures presented in the annual ac-
counts are inmillions of Norwegian kroner unless otherwise stated. Rounding differences may mean that amounts and
percentages reported do not necessarily add up to the total shown.
Consolidation principles and non-controlling ownership interests
The consolidated accounts include the parent company EVRY ASA and the companies over which EVRY ASA has a con-
trolling influence.
A controlling influence is assumed to exist when the parent company, directly or indirectly through subsidiaries, holds
more than 50%of the voting rights in an undertaking, save for exceptional circumstances where it can clearly be
demonstrated that such ownership does not confer control. A controlling influence is also seen to exist when the parent
company holds 50%or less of the voting rights in an undertaking in a situation where the parent company has:
a) control over more than 50 % of the voting rights through contractual agreements with other investors,
b) influence over the undertaking’s financial principles and operating principles in accordance with the articles of
association or by contractual agreement,
Note 01
Group
Notes to Financial Accounts