Page 133 - Restamax Plc Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2017

NOTES CONCERNING THE PREPARATION OF THE PARENT COMPANY’S
FINANCIAL STATEMENTS

Restamax Plc’s financial period is 1 January–31 December. The financial statements have been prepared in accord-
ance with the Finnish Accounting Act (FAS).
Principles and methods of measurement and recognition

Measurement of non-current assets

Non-current assets are measured at their acquisition cost less the accrued depreciation.
The notes for the non-current assets only present the acquisition costs for those non-current assets
whose acquisition costs have not been completely depreciated as scheduled depreciations.
Basis of and changes to scheduled depreciations

Commodity group Estimated service life Depreciation percentage Depreciation method
Buildings 30 years straight-line depreciation
Goodwill 5-7 years straight-line depreciation
Other intangible assets 3-10 years straight-line depreciation
Machines and equipment 25 residue cost depreciation

Measurement of current assets
Inventories are measured at their varying acquisition cost in accordance with the FIFO principle
and the lowest value principle defined in Section 6(1) of Chapter 5 of the Accounting Act.

The sale receivables and other receivables marked under non-current assets are measured at their nominal value or
their probable value, whichever is lowest.

Pension coverage for personnel

The pension coverage for the company’s personnel has been arranged in external pension insurance companies.
Pension insurance payments have been recognised to correspond with the accruals-based salaries in the financial
statements.

Measurement of credit capital

Liabilities are measured at their nominal value.
Own shares

Own shares purchased are recorded as deductions from the accumulated earnings from previous financial periods.

FINANCIAL STATEMENTS FOR PARENT COMPANY (FAS) 133