2. Basis of preparation 3. Significant accounting policies 78 Annual Report 2009 - Heineken N.V. Financial Statements Notes to the consolidated financial statements In particular, information about assumptions and estimation uncertainties and critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the consolidated financial statements are described in the following notes: Note 6 Acquisitions and disposals of subsidiaries and minority interests Note 15 Intangible assets Note 16 Investments in associates and joint ventures Note 17 Other investments Note 18 Deferred tax assets and liabilities Note 28 Employee benefits Note 29 Share-based payments - Long-Term Incentive Plan Note 30 Provisions Note 32 Financial risk management and financial instruments Note 34 Contingencies. (a) General The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements and have been applied consistently by Heineken entities. (b) Change in accounting policies IAS 23 Borrowing costs In respect of borrowing costs relating to qualifying assets for which the commencement date for capitalisation is on or after 1 January 2009, borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset, are capitalised as part of the cost of that asset. Previously all borrowing costs were immediately recognised as an expense. This change in accounting policy was due to the adoption of IAS 23 Revised in accordance with the transitional provisions of that standard; comparative figures have not been restated. The change in accounting policy had no material impact on assets, profit or earnings per share for the year ended 31 December 2009. Amendments to IAS l Presentation of financial statements The revised IAS 1 constitutes a change on the presentation of the consolidated financial statements. The amendment introduces the statement of changes in equity as primary statement and introduces the term total comprehensive income, which represents changes in equity during a period other than those changes resulting from transactions with owners. Heineken provides total comprehensive income in an income statement and a separate statement of comprehensive income and this has been applied in these consolidated financial statements as of and for the year ended 31 December 2009. Comparative information has been re-presented in conformity with the revised standard. Since the amendments to IAS 1 only impacts presentation aspects, there is no impact on earnings per share. Amendments to IFRS 7 Financial instruments - Disclosures The amendment requires enhanced disclosures about fair value measurement and liquidity risk. In particular, the amendment requires disclosure of fair value measurements by level of a fair value measurement hierarchy. This change in accounting policy only results in additional disclosures; there is no impact on earnings per share. Other standards and interpretations Other standards and interpretations effective from 1 January 2009 did not have a significant impact on the Company.

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