Basic HTML Version
REC Annual Report 2011
57
INDEXOFTHENOTESTOTHECONSOLIDATEDFINANCIALSTATEMENTS
RECGROUP
NOTE
PAGE
NOTE
PAGE
1
General information
58
2
Summary of significant accounting policies
58
2.1
Basis of preparation and statement of compliance
58
2.2
Consolidation
58
2.3
Segment reporting
59
2.4
Foreign currency translation
59
2.5
Current/non-current
59
2.6
Property, plant and equipment
59
2.7
Intangible assets
59
2.8
Impairment and derecognition of non-financial assets
60
2.9
Financial assets
60
2.10
Accounting for derivative financial instruments
and hedging activities
60
2.11
Trade receivables
61
2.12
Cash and cash equivalents and restricted bank accounts
61
2.13
Paid-in equity capital
61
2.14
Borrowings
61
2.15
Inventories and construction contract costs
62
2.16
Income tax
62
2.17
Provisions
62
2.18
Pension/post retirement obligations
63
2.19
Revenue recognition
63
2.20
Interest and dividend income
63
2.21
Leases
63
2.22
Government grants
64
2.23
Statement of cash flows
64
2.24
Adoption of new and revised standards and interpretations
64
3
Financial risk management
67
3.1
Financial risk factors
67
3.2
Fair value estimation
69
3.3
Capital structure and financing
69
4
Critical accounting judgments and key sources of
estimation uncertainty
71
4.1
Critical judgments in applying the REC Group’s
accounting policies
71
4.2
Key sources of estimation uncertainty
– critical accounting estimates
72
5
Segment information
75
6
Fixed assets
80
7
Impairments of cash-generating units and goodwill
84
8
Investments in associates and joint ventures
89
9
Discontinued operations
91
10
Related party transactions
92
11
Derivative financial instruments
93
12
Details receivables
97
13
Inventories
98
14
Cash and cash equivalents
99
15
Shareholder information
100
16
Compensation to the management and board, loans
and shareholdings
101
17
Borrowings
107
18
Income tax expense and deferred tax assets and liabilities
110
19
Retirement benefit obligations and expenses
113
20
Trade payables, provisions and other non-interest
bearing liabilities
116
21
Government grants
117
22
Other operating expenses
118
23
Other income and expenses
119
24
Employee benefits
120
25
Financial income and expenses
120
26
Earnings per share
122
27
Dividends per share
123
28
Research and development
123
29
Commitments, guarantees, pledges
123
30
Other information financial instruments
126
31
Contingent liabilities and contingent assets
133
32
Share-based compensation
133
33
Events after the reporting period
135