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 products supplied and services rendered to third parties, after deduction of turn over 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 parti cipations 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.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 1988 | | pagina 42