Heineken N.V. annual accounts 1987
33
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 are calculated on the
income according to the annual accounts
on the basis of nominal rates. The taxes
on profit distributions which are borne
by the Group and the facilities applicable
are taken into account. The differences
from the taxes actually payable in respect
of the financial year are offset against
the Provision for deferred tax liabilities.