Heineken N.V. annual accounts 1986
Accounting policies for the determination
of income
In the Statement of Income proceeds
and expenses are in principle accounted
for at the time when the relevant goods
or services are supplied.
Net turnover means the proceeds of prod
ucts supplied and services rendered to
third parties, after deduction of turnover
taxes and discounts.
The consumption of raw materials and
other materials is stated at replacement
cost in the Statement of Income.
Excise duties are stated at the actual
amount incurred.
The depreciation based on replacement
cost is applied on a straight-line basis,
in accordance with the estimated life of
each asset; the withdrawal from the In
vestment facilities equalization account
is allowed for in this calculation.
Dividend from non-consolidated partici
pations relates to the dividends received
in the financial year.
Taxes on profit, which also include the
taxes on profit distributions which are
borne by the Group, are calculated on
the profit according to the annual ac
counts, on the basis of the nominal rates
and the facilities applicable. The differen
ces from the taxes actually payable in
respect of the financial year are offset
against the Provision for deferred tax
liabilities.
