The Saeima has adopted and promulgated the following laws of Valstsprezident: the annual accounts and consolidated annual accounts Act I nodaļaVispārīg rules article 1. The terms used in the law (1) of the Act is used in the following terms: 1) associated company — a society in which another company's equity interest and operating and financial policies of this other company is situated in the substantial influence that is provided with not less than 20 and no more than 50 percent of the shareholders ' or members ' voting rights;
2) development costs — costs that are directly attributable to development activities or that can be reasonably be associated with these activities; 3) at the balance sheet date: the last day of the reporting year; 4) book value — the amount at which an asset or liability in the balance sheet; 5) essential information: the information, which there is reason to believe that its non-disclosure or improper presentation of the financial statements could change or influence the decision that person accepts, on the basis of these financial statements. In a separate financial statement item disclosed information to assess materiality in relation to other similar items in this report; 6) financial assets: a) money, (b)) other capital securities, c) contractual right to receive cash or another financial asset from another person or to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the public, (d)) financial instrument for which the company will (or can pay) with their own equity securities, if it is not a derivative and their society is (or can be) the obligation to receive a variable number of its equity, or if it is derived and on the company will (or can pay) differently than a fixed cash or another financial asset for a fixed number of amount against your equity. The application of this term, not their capital securities shall include financial instruments that have an agreement of the company's own equity securities or their delivery in the future; 7) financial liabilities: (a) the obligation specified in the contract) to transfer money or other financial assets to another person or to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the public, (b)), for which financial instruments firm will or may be settled in their own equity securities, if it is derived and the public is (or can be) the obligation to deliver a variable number of its equity, or if it is derived and the company will (or can pay) otherwise than a fixed cash or another financial asset for a fixed number of amount against your equity. The application of this term, not their capital securities shall include financial instruments that have an agreement of the company's own equity securities or their delivery in the future; 8) accounting policies — economic transaction concerned, the facts and events accounting and financial statement item appraisal and identification (financial report) the principles, methods and rules (such as asset valuation or depreciation, accounts receivable or inventory valuation methods, the loan interest and fines, and specify principles of savings and methods used in the income, or the cash flow for financial statement); 9) — the parent company of the Republic of Latvia registered company or cooperative society, established in the Republic of Latvia the European economic interest group, the European cooperative society or European company that controls one or more of its subsidiaries in accordance with the procedure laid down in this Act; 10) Group subsidiary company — the Republic of Latvia registered company or cooperative society, established in the Republic of Latvia the European economic interest group, the European cooperative society or European company, which is controlled by its parent company in accordance with the procedure laid down in this Act. The parent company's subsidiaries also believes any of this Group subsidiary companies subsidiary companies; 11) group — the society as a whole, which consists of the parent company and all its subsidiaries; 12) — the Group's consolidation in the company of the annual accounts of the merger in accordance with the procedure laid down in this Act; 13) consolidated financial statements, the Group's annual report, in accordance with the procedure laid down in this law, prepared as one in a separate annual report of the society and provides information about the entire group as a whole as one society; 14) mazākumakcionār — Group subsidiary companies of the shareholders or members that have no parent company shareholders, members or members (hereinafter referred to as the shareholders or members), nor other participating in the consolidation of the subsidiary; 15) intangible assets — intangible non-financial assets, and meet both of the following criteria for classification: a) its possible to distinguish between, or separate from the company and sold, transferred, licensed, rented or exchanged, (individually or in combination with other obligations or assets) or they are experiencing from the contract or other rights regardless of whether those rights are transferable or separable from the public or from other rights and obligations the company, b) use more than one year and expect from this holding will receive economic benefits; 16) events after the balance sheet date: the favorable event (such as an expected profit or, increase in the value of assets or liabilities in the amount of reduction) or adverse events (for example, encountered or anticipated costs or losses, the value of assets or an increase in the amount of the commitment) during the period between the balance sheet date and the date of signature of the annual report; 17) fixed assets – movable or immovable corporeal things which meet all the following criteria: (a) the company there as owners) or by the lessee under a finance lease, for use in the manufacture of goods, provision of services, for rental to or for administrative purposes (public administration purposes or for other purposes, such as another asset transactions, companies operating essential safety or environmental enforcement provision), (b) the company intends to use) more than one year and expect that from this holding will receive economic benefits, they have not purchased) and is not kept for sale, d) their useful life is longer than one regular cycle; 18) fair value — the amount received from the sale of assets, or paid in relation to normal transaction between market participants that an asset or liability at the measurement date; 19) research costs — costs that are directly attributable to research activities, as well as the costs incurred for a particular object of intangible investment in building the project development phase, if society cannot distinguish the research phase of this project from the development phase; 20) purchase price in cash or its equivalent-the amount to be paid or the purchase of goods or services transferred to the fair value of the consideration at the time when the asset was purchased; 21) management: a) Corporation, as well as cooperative society, Executive Board and Council (if you have created a Council), (b) a partnership, all of this society) members or members of the public who are authorized to represent the company, c company, individual farmers) and the fisherman holding the companies or the owner of the farm; 22) impairment adjustments: adjustments made to indicate the value of assets at the balance sheet date, regardless of whether this impairment is or is not final. With impairment adjustments also annual depreciation fixed assets and intangible investments annual write-down. (2) of the Act, the terms "financial instruments", "equity securities" and "transferable securities" complies with the law on the financial instruments market used terms. (3) the statutory term "related party" of the Commission of 3 November 2008. Regulation (EC) No 1126/2008 adopting a number of international accounting standards in accordance with European Parliament and Council Regulation (EC) No 1606/2002, described in the annex to IAS 24 disclosure of related parties used the term ". 2. article. The scope of the law, the law States: 1) the content of the annual report, its preparation, auditing (inspection), approval, and publication, as well as the annual report disclosed the amount of information, incentives and exemptions by categories of society; 2 be in the consolidation company), incentives and exemptions for the parent company, as well as the preparation of the consolidated annual report, audit (examination) of the submission, approval, and publication of the order; 3) on the annual report and the consolidated annual report, and audit (examination) of the person responsible. 3. article. Subjects of the law (1) The law applies to: 1) in the Republic of Latvia registered commercial companies, cooperatives, registered in the Republic of Latvia in the European economic interest groups, the European cooperative societies and European corporates; 2) individual companies, farmers and fishermen whose holdings in turnover (revenue) of economic transactions in the preceding financial year exceeds 300 000 euros. (2) this law shall apply to the first paragraph of this article a person (hereinafter the company) of the annual report and the first part of the society referred to in paragraph 1 of the consolidated annual accounts. (3) the individual companies, farmers and fishermen holding can prepare annual report pursuant to the provisions of this law if their turnover (revenue) of economic transactions in the preceding financial year exceeds 300 000 euros. (4) this Act does not apply to credit institutions, credit unions, insurance companies, reinsurance companies, private pension funds, investment companies, investment management firms, as well as alternative investment funds established as commercial companies. (5) development of financial institutions and the company, in accordance with the financial instruments market law to prepare the annual accounts and consolidated annual accounts in accordance with international accounting standards adopted in accordance with the European Parliament and of the Council of 19 July 2002, Regulation (EC) No 1606/2002 on the application of international accounting standards (international accounting standards): 1) by way of derogation from the statutory annual report and financial statement item for the assessment of the principles and rules applicable to , the items shall be in accordance with international accounting standards; 2) by way of derogation from the provisions of this law, the balance sheet, income statement, cash flow statement and statement of changes in equity for the preparation may not have separate financial report items that are not relevant or do not specify make financial reporting more transparent, as well as the inclusion of additional items, but in any case the items the specified information should comply with international accounting standards; 3) in addition to this statutory financial statements the provisions for the preparation of explanatory information provided in accordance with international accounting standards; 4) by way of derogation from the provisions of this law, consolidated annual accounts drawn up according to international accounting standards. In this case the consolidated annual report and the consolidated financial statement item for assessment of the consolidated financial statement components and explanatory information in the consolidated financial statements the application of this part 1, 2 and 3.
(6) development financial institution and a company whose transferable securities are included in the Republic of Latvia or another Member State of the European Union on the regulated market (hereinafter regulated market), this law, which is binding for a large public. (7) the State Corporation that under the conditions of this law is a large corporation, you can prepare the annual report under international accounting standards. In this case, the State Corporation financial statement item for assessment of the financial statement and explanatory information in the financial statements in this article apply to the fifth subparagraph 1., 2., and 3. 4. article. Language and values (1) the annual accounts and consolidated annual reports drawn up in Latvian language. (2) the annual report and the consolidated annual report on value measure used for the euro and the numbers rounded to whole numbers (euro). (3) by way of derogation from article referred to in the second paragraph on rounding of figures, the consolidated annual report of the allowed numbers round up to a thousand (euro). NodaļaSabiedrīb and the Group II distribution of article 5. Company category (1) applying this Act, the following criteria, depending on the set limit values shall be divided into the following categories: 1) mikrosabiedrīb; 2) small company; 3) medium company; 4) company. (2) Mikrosabiedrīb is a small company whose balance sheet date do not exceed at least two of the three criteria mentioned in this paragraph limits: 1) balance sheet total: 350 000 euros; 2) net turnover: 700 000 euro; 3) average number of employees during the year under review, 10 (3) small companies. is the company whose balance sheet date do not exceed at least two of the three criteria mentioned in this paragraph limits: 1) balance sheet total: 4 000 000 euro; 2 the net turnover: 8 000 000 eur); 3) average number of employees during the year — 50. (4) Average company is the company which is not a small company whose balance sheet date do not exceed at least two of the three criteria mentioned in this paragraph limits: 1) balance sheet total: 20 000 000 euro; 2) net turnover: eur 40 000 000; 3) average number of employees during the year — 250. (5) Big company is the company at the balance sheet date which exceed at least two of the three in the fourth paragraph of this article, this criterion values.
(6) If a company two years in a row (both the current and the previous one) at the balance sheet date exceeds the two from the second, third or fourth part of that criteria, it loses the right to apply this law benefits or exemptions provided for in the category of the public concerned. If the company two years in a row (both the current and the previous reporting year) does not exceed two of the second, third or fourth part of that criteria, it acquires the right to apply this law benefits or exemptions provided for in the category of the public concerned. The newly formed company and sole proprietorship, and fisherman's farmstead in the accounting year becomes subject to this Act, is entitled to apply for benefits or exemptions referred to in the first reference year, if its balance sheet date do not exceed two of the second, third or fourth part of the public concerned that the criteria for the category limit values. 6. article. The Group category (1) the application of this law, the group depending on the criteria set out below, the limit values shall be divided into the following categories: 1) a small group; 2 medium group); 3) great concern. (2) small group is the group that's involved in the consolidation of the company (as a whole) in accordance with all the companies involved in the consolidation of the annual accounts of the parent company's consolidated balance sheet date do not exceed at least two of the three criteria mentioned in this paragraph limits: 1) balance sheet total: 4 000 000 euro; 2 net change total —) 8 000 000 eur; 3) average number of employees during the year — 50. (3) moderate group is the group that is not a small group, and that consolidation be society (as a whole) in accordance with all the companies involved in the consolidation of the annual accounts of the parent company's consolidated balance sheet date do not exceed at least two of the three criteria mentioned in this paragraph limits: 1) balance sheet total: 20 000 000 euro; 2 net change total —) 40 000 000 eur; 3) average number of employees during the year — 250. (4) the big concern is that the group, which is involved in the consolidation of the company (as a whole) in accordance with all the companies involved in the consolidation of the annual accounts of the parent undertaking's balance sheet date consolidated more than at least two of the three referred to in the third subparagraph the criteria thresholds. (5) If the group two years in a row (both the current and the previous one) in the parent company's consolidated balance sheet date exceeds the two from the second or third subparagraph the criteria values, parent company loses the right to apply this law benefits or exemptions provided for in the relevant category of the group. If the group two years in a row (both the current and the previous one) in the parent company's consolidated balance sheet date do not exceed two of the second or the third part of this criterion, the Group's parent company acquires rights to apply this law benefits or exemptions provided for in the relevant category of the group. In the year created (new) parent company is entitled to apply these deductions or exemptions in the new group's first reference year, if the parent company's consolidated balance sheet date, the group does not exceed two of the second, third or fourth part of that criteria thresholds. (6) the Group's parent company is entitled to apply this law benefits or exemptions provided for in the relevant category of the group, the first reference year, if consolidation be society (as a whole) in accordance with all that the annual accounts of the parent company's consolidated balance sheet date do not exceed at least two from the second or the third part of the group concerned, that the criteria for the category limit values. 7. article. Specific provisions on the criteria (1), the criteria of "balance sheet total" of this Act specified in annex 1 of the balance sheet total of all active items. (2) "net turnover" criterion is 2 or 3 of this Act specified in the annex of the income statement under "Net turnover of the scheme" the specified amount of revenue. (3) in exceptional cases, if the public of a profit and loss statement under "net change" no amount or if it is a significant, but not other income statement items included revenue amounts are significant, "net turnover" criterion is used in place of the criteria "grand total", calculated on the basis of its revenue amounts specified for all other income statement items. (4) average number of employees calculated by adding the company (company — be societies in a consolidation) workers employees of the year on the last day of each month and dividing the sum by the number of months in the year. (5) in order to determine the category of case is not made this law, article 73, first paragraph, point 3 and 4, as referred to in article 6 of this law, the second and third subparagraphs of this criterion "balance sheet total" and "total" Net turnover thresholds are increased by 20 percent. NodaļaGad III report and financial review article 8. The obligation to draw up annual accounts and annual report consists of (1) the society is obliged to prepare an annual report for each financial year in the law "on accounting". (2) the annual report as a single whole, consists of the financial statement and management report. 9. article. Composition of financial statements (1) small companies financial statements comprise at least a balance sheet, income statement and notes to the financial statements. (2) medium and large public financial report consists of a balance sheet, income statement, cash flow statement, statement of changes in equity and notes to the financial statements. (3) a balance sheet is a financial statement that shows the sources of public funds and their (assets and liabilities) balances at the balance sheet date. Features indicate active balance, but their sources — the balance sheet liabilities. The balance sheet total assets must equal the total liabilities of the balance sheet. (4) the income statement is a financial statement showing the company's revenue and costs, as well as the reference year for profits or losses incurred. (5) the annex to the financial statement is a financial statement that provides explanations, comparisons, detail and justification in relation to the other components of the financial statements, the following information, as well as additional information that is required for true and clear that the provision of article 13 of the law within the meaning of the second paragraph. 10. article. Financial statement and change the scheme (1) balance sheet drawn up on the basis of this law, set out in annex 1 of the scheme. (2) income statement is prepared on the basis of this law, 2 or 3 of the scheme set out in the annex. (3) the cash flow statement is prepared on the basis of this law, 4. or in annex 5 of the scheme. (4) the statement of changes in equity shall be drawn up on the basis of this law, the scheme set out in annex 6. (5) a profit and loss statement as well as the cash flow statement using the schema must not change compared to the previous reporting year (the financial statement by the same schemes drawn up in at least two years in a row). (6) in exceptional cases can this article not to apply the requirements of the fifth subparagraph, provided that the components of the financial statements the exchange scheme justification is clear and true picture of the provision under article 13 of this law, the provisions of part two. On the components of the financial statements of the Exchange schema specifies the financial accounts and explain the reason for the change. 11. article. Financial statement items, specify the General conditions (1) of the Act set out in the annex to the balance sheet items 2 and 3 in the annex of the income statement scheme items 4 and 5 in the annex of the cash flow statement items and set out in annex 6, statement of changes in equity items (hereinafter in this chapter — items), in preparing the financial statement showing each individual in the order specified in the schema. (2) companies, preparing the financial statement, the scheme in question is allowed to combine schemes with Arabic numerals designated items, if the amounts are not significant clear and true picture of the provision under article 13 of this law, the provisions of the second subparagraph, or if such a combination creates more clarity. Combined items detail the financial accounts. 12. article. Previous year's figures (1) the preparation of the balance sheet, income statement, cash flow statement and statement of changes in equity, each item indicates the current reporting year and the previous year's figure. (2) If the reporting year previous year found significant errors or change in the accounting policy, the previous year's figure adjusted. (3) each time the numbers were not mutually comparable or carried out the previous year figures adjustments, provide an explanation in the notes to the financial statements. (4) the item that does not have the numbers, only when the previous year's report have been the item with a number. (IV) statements of nodaļaFinanš general conditions article 13. A true and clear picture (1) financial reports shall be drawn up clearly and in accordance with the law "on accounting", that rule and other accounting and annual accounts of the regulatory laws. (2) the financial statements must provide a true and fair view of the company's resources (assets), liabilities, financial position and profit or loss, but medium and large companies in the company's annual report, the flow of cash. (3) where, under this law, prepare financial statement information is not giving enough true and fair view of the company, provide additional information in the notes to the financial statements. (4) in the fifth subparagraph of this article, in these exceptional cases the company may depart from this statutory financial statement item identification, assessment and recognition of principles and rules, if it do not give a true and fair view of the second paragraph of this article. Any such resignation shall explain to the notes to the financial statements stating that resignation reason and influence on public funds (assets), liabilities, financial position, profit or loss. Notes to the financial statements shall also indicate the specific provisions of this law, the application of which society has departed, and the relevant legislation or the international accounting standards, which the company applied. (5) in the fourth paragraph of this article, these exceptions are: 1) the company no longer complies with this law, article 14, paragraph 1, first subparagraph the going concern principle, and for this reason can not apply this law article 14, first paragraph, point 10 of the General principles set out in the financial statement item evaluation according to the acquisition cost or production cost; 2) justified reasons (for example, if a company whose transferable securities are included in the regulated market itself is the parent company of the Group and shall prepare consolidated accounts in accordance with international accounting standards, or if the company is a subsidiary of the group, whose parent company is the item requirements, evaluation, recognition for financial statement and explanatory information on the following items to use international accounting standards) the company recognizes evaluate financial statements indicate the investment property, biological assets, held for sale of financial fixed assets, deferred tax assets, the deferred tax liability or other balance sheet asset or liability items and provide explanatory information on the following items in accordance with international accounting standards. (6) for the application of this law: 1) investment property is real estate objects: land, buildings, engineering structures, space groups and fractions of those objects, there as a company owner or by the lessee under a finance lease for lease (rental) charge or the expected price rise (increase in value), rather than for use in the manufacture of goods, provision of services, for administrative purposes (public management) or sold in the ordinary course of business; 2) biological assets are working or productive animals or plants that the company there for agricultural products for sale or additional biological assets; 3) held-for-investment is long term fixed assets or intangible investment objects that the book value will be recovered in sales rather than continuing to use; 4) deferred tax assets are corporate income tax amounts to be recovered in the coming years and the report refers to the atskaitāmaj temporary differences between balance sheet assets or liabilities in the financial statements the value and the value of this item corporate income tax calculation purposes; 5) deferred tax liabilities are the corporate income tax amount due over the next few years and the report refers to those temporary differences between balance sheet assets or liabilities in the financial statements the value and the value of this item the company income tax calculation purposes, which are liable to this tax. (7) of this article, the fourth, fifth and sixth subparagraph does not apply to the mikrosabiedrīb that the preparation of the financial statements has chosen to use one of this law, laid down in chapter XII of the incentives and exemptions, except for the fifth subparagraph of this article referred to in paragraph 1 where the mikrosabiedrīb no longer complies with this law, article 14, paragraph 1, first subparagraph the going concern principle. 14. article. The preparation of the financial statements of general principles (1) the financial statements shall be prepared according to the following general principles: 1) assumes that the company will operate in the future (the going concern principle); 2) uses the same accounting policies and methods of evaluation used in the previous reporting year; 3) financial statement items are recognised and evaluated, using the precautionary principle, in particular on the following conditions: (a) the financial statements shall include only) up to the balance sheet date for profit, (b)) takes into account any commitments, as well as the amount of the expected risks and losses incurred in the year or in previous years, even if they become aware of the period between the balance sheet date and the date on which the annual report, the signing of this law article 95 of that person or Government institution , c) and the calculation takes into account any reduction in the value of assets and depreciation amount, whether or not the year is a loss or a profit; 4) balance sheet and income statement items of the amount indicated on an accrual basis, i.e. revenues and expenses noted, given the timing, not the cash receipt or issue. With the year of account related income and expenditure points regardless of the payment or the date of receipt of the invoice; 5) costs into line with revenues in the relevant reporting periods; 6) with the exception of this law article 12 the event referred to in the second subparagraph, the beginning of each financial year of the relevant balance sheet items amounts (opening balance) correspond to the same balance sheet amounts indicated in the previous report at the end of the year (closing balance); 7) balance sheet assets and liabilities are valued separately; 8) the exception referred to in the third subparagraph, in the case of any balance sheet netting between assets and liabilities or income statement revenue and expenditure items is prohibited; 9) the balance sheet and income statement items of the specified amount, taking into account the economic content and nature of the transactions, not just legal form; 10) balance sheet and income statement items are assessed according to the purchase price or production cost. Acquisition cost is the purchase of a good or service price (get discounts), plus the additional costs related to the purchase. Production cost is materials and consumables raw materials, acquisition costs and other expenses that are directly related to the object in question. Production cost can also include the cost of the parts that are not directly related to the production of objects, unless these costs are attributable to the same time period. (2) the balance sheet and profit and loss statement, but for average and high society, also the cash flow statement and statement of changes in equity of the particular items show a significant financial information that will impact the user evaluation of the annual report or decision making. Minor amounts that do not significantly affect the user evaluation or decision-making in these components of the financial statements indicate appropriate similar financial information in a synthesis items, but this amount is provided detalizējum notes to the financial statements. (3) by way of derogation from the first subparagraph of paragraph 8, if you turn off or remove seized in long term investments, including the object to the object off the associated revenues and costs. In this case, the profit and loss statement specifies the net present value of the profit or loss from the disposal of long-term investment object, which is calculated as the difference between the off balance sheet value of object and its disposal or liquidation income and expenditure provided that the financial statements are listed in the annex to the gross amounts. 15. article. Cabinet's competence in the field of annual report (1) in order to ensure a common understanding of financial statement items, the application of the Act, the Cabinet of Ministers issued the rules, which States: 1) procedures for assessment and financial report indicates the received State, local, foreign, European Union, other international organisations and institutions, financial aid (financial assistance), donations and donations in cash or in kind; 2) order in which a financial statement showing the events after the balance sheet date, the accounting policies, changes in accounting estimates and corrections of errors; 3) order in which lists and evaluates the revenue from the sale of goods and supply of services, the transfer of public assets in the use of other people, gaining interest, royalties and dividend revenues; 4) fixed asset accounting and valuation methods and procedures in the financial statements indicates costs associated with them, and the change in value; 5) work or food-producing animal or plant accounting and valuation methods and procedures in the financial statements indicates costs associated with them, and the change in value;
6) savings, accounts receivable, accrued revenue, accrued liabilities, contingent liabilities and contingent assets the assessment conditions and methods; 7) procedures for the company which is the operator of public works or other long-term contract performer, record and evaluate the works contract or other long-term contract revenue and related expenses;
8) research and development activities and society create the intangible things, which do not meet the classification of intangible investment conditions, the identification of the financial report, citing specific examples; 9) inventory accounting and valuation methods and procedures in the financial statements indicates costs associated with them, and the change in value; 10) order in which assessment and a financial statement showing the financial lease and operating lease transactions; 11) the order in which the equity items of the financial statements given in individual companies, farmers and fishermen; 12) procedures for the preparation of the financial statements of the company which does not comply with this law, article 14, paragraph 1, first subparagraph the going concern principle; 13) arrangements for preparing the financial statements for the period shorter than the reference year (interim report). (2) the Cabinet of Ministers issued the rules on investment properties or biological assets held for sale fixed assets reclassification and the identification of further balance sheet in case the company terminates the property evaluation of objects, based on their fair value. (3) the cabinet shall issue the rules for inclusion in the State revenue service's electronic declaration system of the company prepared financial statements or consolidated financial statements (if applicable) a copy of the electronic form. 16. nodaļaBilanc v article. The balance of the assets object, the accounts receivable and accounts payable amounts to specifying the General conditions (1) long-term investments are funds that are intended for brief use (longer than 12 months after the end of the reporting year) or invested in the durable property. Other features are current assets. (2) the object of specific assets shown in the balance sheet fixed assets or working capital depending on the purpose for which it is intended. (3) each item of accounts receivable in the balance sheet separately amounts receivable and payable during the year more than one year after the balance sheet date. (4) certain amounts of liabilities shown in the balance sheet, long-term and short-term creditors creditors depending on the payment of the debt or liability of the cover date. Long-term creditors include its liabilities in the amount of the payment deadline occurs later than 12 months after the end of the reporting year and made to finance long-term investments and current assets or to cover obligations that do not fall short of the vendor. Short-term creditors include the composition of the amounts liquidated in the next 12 months after the end of the reporting year, and other obligations arising from the company's normal operating cycle. (5) if any asset or liability relates to more of the balance sheet items, their affiliation to the other items noted under item in which it is contained, or financial accounts. Article 17. Deferred expenses and revenue (1) payments made before the balance sheet date but relating to a subsequent financial year, indicate the balance under "prepaid expenses". (2) the payments received before the balance sheet date but relating to a subsequent financial year or a subsequent financial year, indicate the balance under "deferred income". 18. article. Own shares or shares and participation in other companies (1) the company acquired own shares or part indicates the balance sheet item "shares or parts", but the resulting participation Group subsidiary or parent companies, or other companies of this Group subsidiaries, or subsidiaries of this group's subsidiary's share capital indicates the balance under "investments in the capital of the company". (2) the company acquired participation in associated companies share capital indicate the balance under "participation in the equity of associated companies", but the rest of the participation in the share capital of another company shall specify the balance sheet under "other securities and investment". (3) public participation in the capital of the other company (hereinafter capital participation) has the right to another part of the capital of the company (whether or not this law is evidenced by participation certificates). Capital participation is designed to encourage public action, creating a durable link with another company. Capital participation in the capital of the other company are: 1) the participation in the related company, where the company gained more than 50 percent of the shares of another company or capital (cooperative company — shares); 2) participation in the associated company, where the company won no less than 20 but not more than 50 percent of the shares of another company or capital (cooperative company — shares). 19. article. Real estate objects and stock (shares) premium (1) society obtained the real estate objects (land, buildings, engineering structures, space group and the object supposedly parts) indicates the balance sheet item "Land, building and civil engineering works". (2) If a new issue of shares or parts sold for an amount that is greater than their nominal value, margin indicates the balance sheet liabilities under the heading "equity" under "stock (share) premium". If a new issue of shares or parts sold for an amount that is less than the nominal value, the difference shall be indicated in the same position as a negative number. 20. article. The amount of profit or loss balance under "profit or loss for the financial year" indicate the amount corresponding to the profit and loss statement under "profit or loss for the financial year" to the specified amount. Company's profit distribution or loss coverage is indicated in the report of the following year, the reduction in the item "previous years retained earnings" beginning in the year the amount shown. 21. article. Foreign currency items expressed in foreign currency cash balances (for example, cash, non-public money accounts for payment or demand deposit accounts), time deposits in foreign currency and foreign currency expressed in advance, loan or loan balances, as well as other customer or vendor debt balances receivable or payable in foreign currencies are shown in the balance sheet, it is translated into euro in accordance with the accounting used in the foreign exchange rate that is valid on the balance sheet date (the end of the day). 22. article. Fixed assets fixed assets If the public partner company public-private partnership contract is long-term investments during the public partner assets placed under it with that contract, the company with the creation of long-term investment costs amount indicates the balance sheet item "long-term investment in fixed assets by public partners". 23. article. The long-term investment value of object of adjustment (1) long term investment object with a finite useful life acquisition cost or production cost (initial value), or the value specified in the revaluation (if applicable) reduce progressively this object specified useful life, of its less impairment adjustments calculated to make gradual write-down this object (property of an object — the annual depreciation, intangible investment object — the value of the annual write-off) then its intended useful life. (2) the useful life of the land is limited, so the original value should not be exposed to in the first subparagraph the following impairment adjustments. (3) If the value of long-term investments at the balance sheet date is lower than the value calculated in accordance with article 14 of this law, the first part of paragraph 10 and the first part of this article, and it is expected that there will be a lasting reduction in value, the object apply impairment adjustment, estimating it according to the lowest value at the balance sheet date irrespective of whether the object of this long-term investment, useful life is or is not restricted. (4) in the third subparagraph, in the long term investment impairment adjustments included in the profit and loss statement and explain financial statements if they have not been shown separately in the profit and loss statement. (5) in the third subparagraph, in the long term investment impairment adjustments can stop, if the value is no longer justified. This provision does not apply to impairment adjustments where appropriate the goodwill value, namely the value adjustments of this reduction can not be reversed. 24. article. The value of working capital adjustments in respect of current assets adjusted to the value at the balance sheet date are valued according to the acquisition cost or production cost or lower market price on that date, depending on which of these indicators is lower, or in special cases, other lower-value (for example, accounts receivable, the receipt of which is questioned, evaluated according to the net present value of damaged or obsolete inventory and inventory unit , which significantly increases the production cost of sales completed or assessed according to net realisable value). Referred to in this article in respect of current assets impairment adjustments can stop, if the value is no longer justified. 25. article. Stock assessment (1) item acquisition cost or production cost to provide as a weighted average price or the method of "first in, first out (FIFO). (2) the method of "first in, first out (FIFO) inventory usage and the remainder is the value method based on the assumption that the items of inventory which were purchased or produced in the first are sold or used up first. Therefore, the items of inventory which remains in the balance at the end of the reporting period are those purchased or produced. (3) the weighted average price method is the use of the item and the balance of the value of the method that the application of the unit cost of each item is determined on the basis of a similar item unit weighted average cost at the start of the reference period and the period purchased or produced a similar item unit cost. (4) the company shall use the same inventory utilization and balance method of determining the value of any similar type and usage. 26. article. Assessment of the transferable securities in kind of short-term financial investments the irreplaceable value of transferable securities to provide as a weighted average price or the method of "first in, first out (FIFO). 27. article. The difference between refundable and received the amount borrowed (1) If the loan amount to be repaid is greater than the amount received, the difference shall be indicated in the notes to the financial statements. (2) the first paragraph of this article, the margin gradually broken down by year, not later than the time of repayment of the debt, respectively, include increasing the amount of the loan until it reaches the amount repayable. 28. article. Borrowing into long-term investment or the creation of working capital loans received interest insofar as they relate to the creation period allowed to include the newly created object in the production cost. On the application of this provision, the company details in the notes to the financial statements, indicating the production cost includes interest. 29. article. Intangible investment position (1) building society formation expenses and research costs must not be included in the balance (capitalized). They are written off in the year under review editions, in which they are incurred. (2) only for consideration of acquired rights may be the item "concessions, patents, licenses, trademarks and similar rights". (3) the item "goodwill" may be associated with the purchase of public spending, if it is not possible to apply to other assets of the balance sheet items, and only to the extent that goodwill acquired for consideration. 30. article. Development costs capitalization and profit-sharing limit development costs can be included in the balance (capitalized) provided that until the development cost of the initial value is not completely written off, no distribution of profits takes place when one of the reserves available for distribution and profits retained earnings amount is at least equal to the cost of development of the initial values are not written down. 31. article. Intangible investment write-down of items (1) the object of intangible investment initial value are written off, making this law article 23 referred to in the first subparagraph the impairment adjustments — annual intangible investments write-down this object useful life. (2) in exceptional cases, if the goodwill or the development costs over the useful life of the object cannot be estimated reliably, the initial value is written down gradually, distributed over a period of years not more than 10 years. Each of these exceptional cases, explain in the notes to the financial statements, indicating the length of the period during which to write off the value of the original item. 32. article. Savings and evaluation (1) provisions are intended to cover liabilities the nature of which is clearly defined and which at the balance sheet date are expected or known or certain to be incurred but uncertain as to the obligation to cover the required amount or the date of occurrence of these commitments. (2) the public is permitted to make provisions to cover if this edition is clearly defined and the emergence of the balance sheet date it is expected or known or certain to be incurred but uncertain as to the need to cover the amount or date of production.
(3) Provision shall be evaluated in accordance with a more accurate estimate of the amount needed to cover the balance sheet date in the first paragraph of this article or commitments referred to in the second subparagraph, costs that might arise. (4) provisions may not be used for the adjustment of the value of the assets. (VI) the assessment of the nodaļaBilanc alternative options article 33. Fixed asset revaluation reserve and building (1) by way of derogation from article 14 of this law, the first subparagraph of paragraph 10, an item of property, the value of which is significantly greater than the purchase price or production cost, or the assessment of the previous year's balance sheet may be revalued to a higher value if it can be assumed that the value of the platform will be lengthy. (2) such revaluations resulting from the difference between the assessment made on the basis of the purchase price or production cost, and an assessment made on the basis of revaluation, if this difference is positive (increase in value), be included in the respective balance sheet assets item, which contains the revalued asset and liabilities of the balance sheet under "long term investment revaluation reserve" in section "equity". However, the long term investment revaluation reserve, does not include an amount that the extent of revaluation gains occurred fully or partially compensates for the same item of property impairment adjustments of previous years accounts were included in the income statement as cost. Include this amount in the income statement as revenue in the year under review, which found the value of an item of property. (3) the revalued fixed assets annual depreciation of the object in the current accounting year calculated on the basis of the value of this object in the reference year, and include the same amount in profit or loss as costs. 34. article. Long term investment revaluation reserve, the conditions of (1) reduction in the long term investment revaluation reserve, if the item is revalued fixed assets seized, liquidated or appreciation is no longer justified or if the revalued fixed assets annual depreciation of the object. The revaluation reserve includes the reduction in the income statement as revenue in the accounting year in which the reduction was made. (2) long term investment revaluation reserve will be reduced only in the first paragraph of this article, the cases. Long term investment revaluation reserve may not be paid, split the dividends or used to cover losses, to increase the share capital of the other provisions or other purposes. 35. article. The evaluation of financial instruments at fair value (1) by way of derogation from article 14 of this law, the first part of the evaluation provided for in paragraph 10 of the regulations, financial instruments (including derivative financial instruments) allow to estimate fair value, provided that you comply with the second, third and fourth conditions contained in part. (2) commodity-based contracts and under which both parties have the right to settle in cash or some other financial instrument within the meaning of this law, derivative financial instruments, except when all the following conditions are true: 1), the contract has been concluded in accordance with the company's planned, goods, raw materials and consumables, the purchase, sale or usage requirements and still matches; 2) contract was originally intended for the part referred to in paragraph 1; 3) contractual obligations is supposed to take delivery of the goods. (3) the Assessment of the fair value apply only to those financial liabilities, which are part of the portfolio of trade or arising from derivative financial instruments. The trading portfolio is on behalf of the public and for the public good of financial instruments held (including contract, commodity-based) position set by the company there to trade or buy, to soon earn a profit from the actual or impending purchase and the sales price variance or other price or interest-rate variations, and positions, which the company purchased in order to limit the risk of trading portfolio. (4) in addition to the first part of this article in fair value may appreciate any financial assets or financial liabilities item that qualified as a risk item, or provide a particular part of such a position, if necessary, in accordance with the company adopted hedge accounting system. Hedge accounting is a system of one or more of the hedging instrument (derivative financial instruments, financial assets or other financial liabilities), specifying the purpose of hedge accounting, so that this change in fair value of instruments, in full or partially offset the risk items in fair value or cash flow. 36. article. Financial assets that are not subject to evaluation at fair value (1) assessment of fair value is not under such financial assets: 1) held-to-maturity investments, other than derivative financial instruments; 2) loans and receivables that are not held for trading; 3) participation Group subsidiary companies, associated companies and jointly manage the company, the company's issued share capital capital securities and other financial instruments, which, pursuant to international accounting standards, are not subject to fair value valuation. (2) held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturity schedule, for which the company has commitment and ability to store them until maturity, except financial assets: 1) which the company originally classified by evaluation at fair value with changes in value into profit or loss; 2) which the company accounted for as available-for-sale; 3) which are loans and receivables. (3) loans and receivables are non-derivative financial assets with fixed or determinable payments, which are active in the public market of securities not quoted, except financial assets: 1) the public immediately or in the near future intends to sell and which are contained in the category of financial assets intended for the trade, as well as those that the company initially classified by evaluation at fair value with changes in value into profit or loss; 2) which the company accounted for as available-for-sale; 3) where initial investment the most relevant part of the owner is not able to recover for a variety of reasons, except when there has been a deterioration of the credit, and which are therefore classified as available-for-sale financial assets. (4) financial assets are classified as held-to-maturity investments, if the company in the year or the previous two years, the report has sold or pārklasificējus more than an insignificant part of the financial assets that were classified as held-to-maturity investments, compared with a total of held-to-maturity investments, other than those sold or pārklasificēto investments which: 1) is so close to the end of the term or amortization of financial assets date (for example less than three months before the end of the term), that market interest rates changes significantly affect the fair value of financial instruments; 2) occurs after the company has charged all the relevant asset items is part of the original principal amount using the payment schedule or advance payment; 3) apply to the individual case, which concluded outside the company's control of the borders, not repeated regularly and that it has not been possible to provide for the public. 37. article. Financial instrument valuation methods (1) assessment of financial instruments the fair value of this law, article 35 of these cases must be reliable. Assessment is plausible, if the fair value of financial instruments is determined using one of the following methods: 1) financial instruments, which are published in the price quotes in public assets in the stock market, based on market price. If the financial instrument is not that market prices, but such is the price of the individual components or similar financial instruments, this instrument can create market prices, given its components or similar financial instruments market price; 2) financial instruments for which it is not possible to determine the market price, based on a value calculated by using generally accepted and appropriate valuation models and techniques where the calculated value acceptable to display this tool possible market price. (2) financial instruments whose fair value cannot be determined reliably with the first part of this article, these methods, evaluate this Act article 14, first paragraph, the procedure laid down in paragraph 10, to the extent that such assessment is possible. 38. article. Fair value of financial instruments (1) financial instruments the fair value of the changes which have occurred during the evaluation of this law in accordance with article 37, first paragraph, include the methods set out in the statement of income, except in the following cases: 1) financial instrument is classified as hedging instruments and in accordance with the society adopted hedge accounting system is designed for some or all of the change in the value of this instrument does not specify the profit and loss statement; 2) change in the value of financial instruments is dependent on currency exchange in connection with public money in the long term investment in a foreign jurisdiction, the company's share capital. In both these cases the financial instrument's fair value changes to indicate the balance under "financial instruments fair value reserve".
(2) available-for-sale financial assets fair value change when these assets are not derivative financial instruments the company indicates the balance sheet item "financial instruments fair value reserve". (3) available-for-sale financial assets for the purposes of this chapter are those non-derivative financial assets that are listed as available-for-sale or are not classified as loans and receivables, held-to-maturity investments or financial assets which the company classified by evaluation at fair value with changes in value into profit or loss. 39. article. Fair value of financial instruments the reserve reduction conditions (1) financial instruments the fair value reserve, listed in the balance sheet under "financial instruments fair value reserve", reduced, including profit or loss in the same year in which the financial instrument is sold, deleted or otherwise alienated or which impaired the value of financial assets. (2) financial instruments the fair value reserve reduced only in the first paragraph of this article, the cases. Financial instruments the fair value reserve should not be paid, split the dividends or used to cover losses, to increase the share capital of the other provisions or other purposes. 40. article. The application of international accounting standards in the evaluation of financial instruments by way of derogation from this law, 35, 36, 37, 38 and 39 of the rules laid down in the relevant instruments may recognise, evaluate, report and provide explanatory information about them in accordance with international accounting standards. NodaļaPeļņ VII the statement article 41. Net sales and other operating income (1) net sales is revenue from production or sale of goods and supply of services, from less trade discount and other discounts granted, as well as the value added tax and other taxes directly linked to turnover. (2) the item "other operating income" indicates a variety of other revenue (for example, proceeds from the disposal of long-term investment object or from foreign currency fluctuations, revenue from insurance benefits received from the financial assistance received or financial support) that is specified in the item "Net turnover" or other relevant items of revenue arising from operating activities or derived from it. Article 42. Sales and administration costs (1) items "cost of sales" and "administrative expenses" include the relevant portion of staff costs, material costs, fixed assets and intangible investments impairment adjustments and other operating charges relating to the financial year. (2) under "cost of sales" indicates that part of the first paragraph of this article, the costs incurred by the production or sale of goods, transportation or storage process, or which are necessary to promote the sale of goods and services. (3) the item "Administration costs" indicates that part of the first paragraph of this article, the following costs incurred in the reporting period the company's management, control and administration process. 43. article. Other income and expense items (1) the revenue from the transfer of public assets in the use of other persons indicated in the income statement items: 1) the item "income from investments" indicates income from long-term financial investments in the share capital of other companies (dividends), with a separate indication of the dividends received from affiliated companies capital participation, and its dividends received from participation in associated companies and other companies; 2) the item "income from other securities and loans forming long-term financial investments" refers to the revenue from long-term deposits of cash, loans, securities and other long-term customer (hereinafter referred to as interest on long-term financial investments), with a separate indication of the interest received from affiliated companies, and the interest received from associated companies and other companies; 3) under "other interest income and similar income" is income from short-term loans and claims (such as interest), as well as royalties (such as patents, trademarks, copyright and software use rights transfer), with a separate indication of that derived from affiliated undertakings and those received from other persons. (2) the item "production cost of goods sold, sales or acquisition of services cost indicates the net turnover hands-on cost of goods sold and sales or production cost of the services provided. (3) the item "other operating costs", the company's operating costs, which are not specified in other income statement items and that are incurred as a result of economic activity or linked to, or derived directly from them (such as losses from disposal of long-term investment object or from foreign exchange fluctuations). (4) the item "of finished products and work in progress inventory change" If the company's profit and loss statement prepared by this law, 2. the schemes listed in the annex, and the items ' production cost of products sold, goods sold or services provided the cost of the acquisition "," cost of sales "and" cost "of the Administration, if the company's profit and loss statement prepared by this law, 3. the schemes listed in the annex, the amount shall be determined in accordance with the characteristics of the relevant public cost calculation that includes the part of material costs, personnel costs, fixed assets, intangible assets and working capital adjustments, impairment and other charges. 44. article. Extraordinary dividends (1) If a company's accounting year is calculated by the extraordinary dividends within the meaning of the Law, then the calculated exceptional amount of dividends at the end of the reporting year indicate the profit or loss items in accordance with the second or third. (2) If the item "profit or loss after corporate income tax calculation" the specified amount of profit is equal to the current year calculated in extraordinary dividend amount, or more than, the amount of dividends that indicates the item "extraordinary dividend". (3) If the item "profit or loss after corporate income tax calculation" the specified profit amount is less than the current year calculated in emergency the amount of dividends, as well as if this item specified losses, extraordinary dividend amount in excess of the proportion of the profit amount, but in the case of damage — all estimated extraordinary dividend amount indicates the item "other operating costs". (VIII) nodaļaNaud flow statement of article 45. The contents of the cash flow statement (1) cash flow statement is a financial statement element roles separately the cash flows arising from operating activities, investing in public actions and from financing activities, as well as the increase in cash and cash equivalents or reductions and balances. (2) operating cash flow is the cash receipts, payments and expenses not incurred from investing activities or financing activities. (3)-the operating cash flow is the cash flow arising from long-term investments (such as fixed assets, investment property, intangible assets, long-term financial investments) and other investments that are not cash equivalents, acquisition and disposal. (4) financing activities cash flow is cash flow, which entail a change in the company's equity and borrowing and the composed. (5) money is the cash the company coffers and non-cash payment accounts and current accounts. (6) cash equivalents are short-term investments, which in a short time can be converted to cash, and there is a small chance that it will change significantly in value (for example, such short-term investments with a residual maturity up to their deletion and repurchase from the date of purchase, is three months or less). Article 46. Preparation of the cash flow statement of the General conditions (1) if the cash flow reporting uses this law scheme specified in annex 4, the operating cash flow shall be determined by applying the direct method. With this method of cash flow information by scheme includes items derived directly from the public accounting register data, analyzing cash and non-cash operations, or adjusting the income statement under "Net turnover", under "production cost of products sold, goods sold or services provided the cost of the acquisition" and other headings included on the revenue and cost them the amounts that do not involve cash flows (for example , item, and with the related key customer and vendor balance changes displayed in the reference year, a different balance of items relating to the financing or investing activities cash flow). (2) if the cash flow reporting uses this law specified in annex 5 of the scheme, the operating cash flow shall be determined by applying the indirect method. With this method, the amount to be included in the cash flow statement of the roles, calculated on the appropriate adjustments to the income statement under "profit or loss before income tax the company" a specified amount. If the reporting year have been in cash receipts, payments or expenses in foreign currencies, these impacts shall be shown separately in the cash flow from operating activities, investing activities and cash flows from financing activities cash flows a separate statement of cash flows under "foreign exchange rate fluctuations."
(3) operating cash flow, operating cash flow of investing and financing activities cash flow by the scheme include items indicate the gross amount (except for in the second paragraph of this article means). (4) operating activities cash flow statement indicates the received and the payment of money made the difference, if: 1) cash payment received and made on behalf of another person and it's more to do with the other person, rather than with the public (for example, the owner of the task performed in rent collection and settlement with the owner); 2) received or committed cash payment relates to balance sheet asset or liability items to quick movement, large size and short deletions or terms of payment (for example, the purchase and sale of securities, the receipt and repayment of loans, whose repayment period shall not exceed three months). (5) total interest paid in the year is indicated in the cash flow statement regardless of whether this amount is included in the profit and loss statement (as expenses) or the balance sheet (assets). Indicate the interest paid as cash flows from operating activities or financing activities cash flow. Indicate the interest received as cash flows from operating activities or as-operating cash flow. (6) dividends paid notes as cash flows from operating activities or financing activities cash flow. Dividend received notes as cash flows from operating activities or as-operating cash flow. 47. article. Special conditions for the cash flow statement for individual items (1) the item "gross operating cash flow" indicates the difference between operating cash receipts and payments (expenditure) before expenses interest payments, corporate income tax and extraordinary items. The excess of cash receipts over cash payments and expenses expressed as a positive number, but the cash payment and the excess of expenses over revenue expressed as a negative number. (2) items "operating net cash flow," "-operating net cash flow" and "financing activities net cash flow" indicates the operating, investing or financing activities cash receipts over cash payments surplus and expenditure relating to this course of action as a positive number or payment and the excess of expenses over revenue, relating to this course of action as a negative number. 48. article. Cash flow in foreign currency if the money is in foreign currency, the conversion of the foreign currency to the euro in accordance with the accounting used in the foreign exchange rate that is valid on receipt of payment or the date of the beginning. NodaļaPaš IX, statement of changes in equity of article 49. Statement of changes in equity content (1) statement of changes in equity is an integral part of the financial statements, which provide data on the company's equity capital and its changes in the volume of ingredients determine the economic impact of the transaction in the reporting year, as well as during this period the total amount of profit or loss, including also credited directly in equity, or write-offs from it. (2) the statement of changes in equity on the balance sheet section "equity" as a whole and for each of its position: 1) a previous balance sheet figures — the balance sheet under the heading "equity" and each item of the balance of this section the value of balance sheet date previous year (hereinafter referred to as the residual value); 2) this part of the balance referred to in paragraph 1, the value of the correction, if any, in respect of the financial year have been made in connection with the change in accounting policy or previous year correction of error; 3) this part of the balance referred to in paragraph 1, the value in the reference year by the relevant business transaction types, facts or events; 4) current year balance sheet figures — the balance sheet under the heading "equity" as a whole and each of its items, the balance of the value of the balance sheet date. 50. article. The balance of the equity items of the change in the value of the equity value of balances, changes may arise from such economic transactions, facts or events: 1) additional capital or equity participation increase or decrease [the shares or capital (share capital) and equity (share) the premium increase or decrease in amount]; 2 revaluation of fixed assets) (long term investment revaluation reserve the increase or decrease of the balance); 3) certain financial instruments or financial assets fair value change of classification, sale, or transfer of other deletion (financial instruments fair value reserves the increase or decrease of the balance); 4) from the previous year profit up reserves and other reserves (if any), classification change or winding-up, the balance of the amounts transferred to the reserves increase, reduction or disposal; 5) profit or loss included in the balance sheet and the previous years retained earnings balance amount changes, including changes relating to the distribution of profits dividends, use previous year losses, increasing the share capital, provisions or for other purposes. NodaļaFinanš review of annex x article 51. Notes to the financial statements the preparation of the General conditions provided in the annex to the financial statements this section of the public concerned the information specified for the category. If a particular firm is subject to this law, 10, 11, 12, 13, 14, 23, 27 or 28 cases referred to in article, in the annex to the financial statements provide the relevant supplementary information (explanation, detail or justification). The information is provided in the order in which the items specified in the relevant part of the financial statements. 52. article. Content of the annex to the financial statement in all categories of the society (1) all companies regardless of which category of the society own, in addition to other in this law for the information set out in the annex to the financial statement shall give at least the following information: 1) about the adopted accounting policies and its compliance with the assumption that the company will operate in the future, as well as any significant changes in accounting policies adopted and these changes impact on the financial statements; 2 not included in the balance sheet) of all financial obligations, guarantees provided or other contingent liabilities total. If the company has entered into a lease or rental agreements, which are essential for its operation, the obligations laid down in those treaties must be indicated specifically. If the company's assets are pledged or encumbered with any obligation of the collateral, it shall inform and support provided by each type. Separately, all obligations on pensions and on related or associated companies; 3) advance issued to control or guarantee a loan commitment amounts by individual position groups (Council and Board members), indicating the interest rates, main conditions and repaid, write-off and the amounts repaid; 4) on revenue or expense items incurred in such events or transactions that are clearly distinct from the ordinary activities of the company and a frequent or periodic repetition is not expected, the amounts and types. The company's ordinary activities considers all transactions that the company makes their economic activities, as well as the activities that contribute to society, economic activities or have incurred in connection with such activities, or result directly from them; 5) for each item long-term creditors — creditors ' debt totals, which pay period is more than five years after the balance sheet date, as well as the total amount of accounts payable, which is covered by a guarantee indicating the type and form of the security; 6) average number of employees during the year under review; 7) for each long-term investment item specifies the following information: a) the purchase price or production cost or, where appropriate, fair value or revaluation value set out in the report the beginning and end of the year, b) values increase, including improvements in the reporting year, (c) the disposal or liquidation) in the reference year, d) any transfer to another post in the year under review, e) from long-term investments item acquisition or acceptance into operation days estimated impairment adjustments total (accumulated impairment adjustments) at the beginning and end of the year in the reporting year, f) calculated values decrease adjustments, g) accumulated impairment adjustments total changes in long-term investment object disposal, liquidation, or transfer to another post in the year under review, h) reporting year long-term investment object included in the production cost borrowing amount; 8) information about significant events after the balance sheet date, which are not included in the balance sheet or profit and loss statement. (2) if the assets are revalued amounts assessed by applying article 33 of this law a chance, then in the notes to the financial statements include a table: 1) indicated in the balance sheet item "fixed assets revaluation reserve" in the year of the change, explaining the overvalued assets applicable taxation arrangements; 2) indicated in the balance sheet by the revalued fixed assets items provide information about value, what should be indicated in the balance sheet if the item should not be overrated. (3) If financial instruments are measured at fair value, the application of article 35 of this law in the first part, given the opportunity, the financial accounts also include: 1) major assumptions on which is based the assessment model used and the choice of methods, if the fair value of those instruments in accordance with article 37 of this law, the first paragraph of point 2; 2) breakdown of the categories of financial instruments according to international accounting standards determine allocations: a) the fair value of financial instruments, (b)) fair value of financial instruments the changes included in the profit and loss statement, c) fair value of financial instruments the changes included in the balance sheet under "fair value of financial instruments the reserve"; 3) by derivative financial instruments the Group — an explanation of these tools, giving totals, as well as information about the significant terms and conditions that may affect the future expected cash flow amount, timing and certainty;
4) table that contains the balance sheet item "financial instruments fair value reserve" changes in the reporting year. 53. article. Additional information on average and large corporations in the notes to the financial statements (1) medium and large companies in the annex to the financial statements also provide in this article for more information. It is the following: 1) if not used in article 35 of this law provided for in the first subparagraph in the choice of financial instruments to apply the evaluation at fair value — an explanation of derivative financial instruments and the nature of the instrument, by groups, showing their true value, if it can be determined by any of the laws referred to in article 37 of the methods;
2 if not used) this law article 23 provided for in the third paragraph, the choice to apply the value of long-term financial investments the fair value of which is less than the value of the balance sheet — information about the individual assets or groups of assets book value and fair value, explaining why it is not suitable for the write-down, and indicating the facts that show that the decrease in value is temporary, and temporary circumstances has occurred; 3) management functions for the total amount of remuneration by individual position groups (Council and Board members). The same applies to pensions and similar obligations to former members of governing bodies; 4) average number of employees during the reference year, by category (the members of the Council, the members of the Management Board, the rest of the staff). If the income statement is prepared on the basis of this law, the scheme set out in annex 2, detail the personnel expenses as set out in the said scheme 6. item; 5) deferred tax assets and liabilities in the balance (if any) at the beginning and end of the year and this balance changes; 6) news about Group subsidiary companies and associated companies: a) name, address and percentage of participation in the company's share capital, b) equity and profit or loss according to each of the company's last annual report approved. Information on associated companies equity and profit or loss may not be provided if the company does not publish its annual report and is not a subsidiary of another company; 7) during the accounting year or part of the shares subscribed number and par value, if any. In the absence of a nominal value, indicates that the shares or book value; 8) if the share capital is composed of several types of shares or parts (cooperative company, shares), each type of stock or shares (cooperative company — shares) the number and nominal value. In the absence of a nominal value, indicates that the shares or book value; 9 any participation certificates), traded on a regulated market guarantees, options or similar financial instrument being, indicating the number and the rights which it confers;
10) partnership, each Member of the company, which is a partnership, the name, domicile and type; the company has 11) if another company subsidiary company: a) the biggest company name and registered office of that company as a parent to prepare consolidated accounts, it as your subsidiary companies, including the smaller company b) the name and registered address as the parent company shall prepare consolidated accounts, it as your subsidiary company, and including the same as Group subsidiary company is included in the "a" referred to the larger commercial companies prepare consolidated annual report place, c) [the enterprise register of the Republic of Latvia (hereinafter enterprise register) or the other Member States of the European Union institutions, or the Group's parent company], which you can get to this point "a" and "b" referred to consolidated accounts, provided that such statements are available; 12) proposal for distribution of profits or losses, but, where appropriate, information on the distribution of profits (also of extraordinary dividends, if any, have been) or damages;
13) information on each agreement not included in the balance sheet, indicating its nature, objectives and financial impact, if the risk related to the agreement or benefits are significant and if the information about these risks and benefits is required to assess the company's financial position (for example, special purpose founded society or use offshore operations to deal with the financial, legal, tax or accounting issues, agreement on the sharing of the risks or benefits, combined repo and sales, debt factoring, consignment of goods contracts, contract recruiting, outsourcing); 14) information on the society's transactions with related parties, if such transactions are material and do not correspond to normal market conditions, specifying the amount of such transactions the related party relationship type, and other information about these transactions, you need to understand the company's financial position. Information about individual transactions with the related parties can be combined by this type of transactions, except when necessary to provide certain information to evaluate the effects of related party transactions on the financial position of the company;
15) detailed information about the balance of cash and cash equivalents (cash flow statement) at the beginning and end of the year; 16) equity balances of the value changes in relation to the change in accounting policy or previous year correction of error. (2) by way of derogation from the first paragraph of this article 14 provision of information set out in the requirements of the average companies allowed to specify only the information of the company's transactions with related parties, which apply to transactions made with these same shareholders or members of the public, subsidiary and associated companies, as well as with the management of the company (the Board and Board members). (3) the first subparagraph of this article 6 the information specified in paragraph can not be provided if it would seriously harm the public interest concerned, in the annex to the financial statement indicating that this information is not available for this reason. (4) a company which is the parent company of the group, may not provide the first part of this article (6) the particulars referred to in annex to the financial statements in the following two cases: 1) if the first part of this article 6 specific news about Group subsidiary companies and associated companies are consolidated in the financial statements provided for in the annex prepared by the parent company or another, larger group's parent company in the consolidated financial statements are included in this Group subsidiary companies and associated companies; 2) if its parent company financial statement or in the consolidated financial statements has applied the equity method group subsidiary companies and associated companies. 54. article. Additional information only for large corporations in the financial accounts (1) the Great society in addition to 52 of this law and article 53 the information set out in the annex to the financial statements shall also give the following information: 1) net turnover by types of economic activities of the European Parliament and of the Council of 20 December 2006, Regulation (EC) No 1893/2006 establishing the NACE Rev. 2. the statistical classification of economic activities, as well as amending Council Regulation (EEC) No 3037/90 and certain EC regulations on specific statistical domains (text with EEA relevance), established the statistical classification of economic activities, and to the geographical markets where the company operates, and geographic markets differ significantly; 2) reference year public sworn auditor or certified auditor company (hereinafter referred to as the sworn auditor) calculated the total amount of remuneration distribution for each of the following sworn auditor services provided: (a) compulsory annual report) audit (examination), (b)) other audit tasks, c) advice in tax matters, (d)) other expert tasks. (2) the first subparagraph of paragraph 1, the information specified in allowed not to provide, if it would seriously harm the public interest concerned, in the annex to the financial statement indicating that this information is not available for this reason. NodaļaVadīb XI message article 55. Control message content (1) management report provides clear information on community development, financial performance and financial position, as well as information about relevant risks and uncertain conditions, with which the company is facing. This information is based on a balanced and comprehensive human development, operations, financial results and financial condition analysis according to the relevant company's size and complexity.
(2) in so far as this is necessary for an understanding of the company's development, operations, financial results or financial position, the first paragraph of this article shall be included in the analysis: 1) financial performance indicators; 2) in so far as they are relevant, also the main company and the relevant industry raksturojošo non-financial indicators, as well as information about the environment impact and employee information or other information; 3) where appropriate, reference to the financial statement value and the additional explanations for them. (3) the management report gives the following companies: 1); 2) measures in the field of research and development; 3) its shares or as a whole, including: (a) reasons of own shares) or the purchase of shares in the year, (b)) in the reference year or sold its treasury stock or the number of shares and the total nominal value or, in the absence of a nominal value, the shares or book value, as well as the percentage of share capital, buy-back or total sales, c) acquired and held by the company of its own shares or the number of shares and their face value total or If there is no nominal value, the shares or book value, as well as the proportion of this total share capital at the end of the accounting year; 4) society affiliates and representative offices abroad (number, by country); 5) the use of financial instruments, if it is essential for the company's assets, liabilities, financial position and profit or loss for the assessment of: (a) financial risk management) objectives and policies, risk management policy adopted in respect of each major type of forecasted transaction for the future, which applies hedge accounting, public exposure to b), market risk, credit risk, liquidity risk and cash flow risk. (4) small companies and medium companies allowed not to provide the second part of this article, the information referred to in paragraph 2. NodaļaAtvieglojum XII and the exemptions of article 56 mikrosabiedrīb. Permission does not prepare a management report Mikrosabiedrīb not permitted to prepare a management report, if this law article 55 paragraph 3 of part three of that information on their bundle of shares or give financial accounts. 57. article. Authorization to prepare abridged financial statements annex Mikrosabiedrīb authorised to prepare abridged notes to the financial statements. In short, the financial accounts allowed not to provide the information referred to in article 52 of this law the first part 4, 7 and 8. 58. article. Exemption from the annex to the financial statement preparation (1) If as at the balance sheet date of mikrosabiedrīb not more than two from the second paragraph of this article, the limit values specified in this law, by way of derogation from article 9, first paragraph, it is not allowed to prepare financial statements. In this case, the balance at the end of a note with numbers, text or tables (balance sheet notes) gives this Law 52. the first paragraph of article 6, paragraph 2 and 3 and article 55 of part three of the information referred to in paragraph 3, as well as details of the revised annual average number of employees. (2) the first paragraph of this article, the limit values are: 1) the balance sheet total: eur 50 000; 2) net turnover: eur 100 000; 3) average number of employees during the year: (3) Mikrosabiedrīb 5, which does not prepare a financial report and review of the year: 1) changed the calculation of the profit or loss of the scheme, in addition to the reasons of this change explained (sixth paragraph of article 10); 2) merged into one balance sheet item of minor amounts apply to several balance sheet items, provide additional detail for this total (article 11, paragraph 2);
3) established the previous year of account errors or changed accounting policy and accordingly adjusted the previous reporting year data, for each case, in addition to providing an explanation (in article 12); 4) included a newly created object in the production cost of the loan interest received in addition to the information on the percent cost (article 28). Article 59. The prohibition on the use of the opportunity to assess the financial instruments at fair value On the mikrosabiedrīb that uses at least one of this law, 56, 57 or 58. mentioned in relief or exemptions not covered in chapter VI of this law that possibility to evaluate financial instruments at fair value. 60. article. Relief and exemption the prohibition of application of certain types of companies this law, 56, 57 and 58 of the relief provided for in article and the exemptions do not apply to the mikrosabiedrīb: 1) whose sole job is to invest their funds in various securities, real property or other assets with the sole aim of spreading investment risks and ensure their shareholders or members profit from their management; 2) that this article mikrosabiedrīb, paragraph 1 of the associate equity participations (hereinafter in this paragraph-related mikrosabiedrīb), if this related mikrosabiedrīb's sole purpose is to acquire fully paid shares or shares issued by the mikrosabiedrīb referred to in paragraph 1; 3) whose sole purpose is to purchase (or parts) in other undertakings, and to manage such holdings and turn them to profit, without involving themselves above other companies directly or indirectly in the management, but also directly without prejudice to their shareholders or members. NodaļaKonsolidēt XIII annual report and in the consolidation of the company assigned to article 61. The obligation to prepare consolidated accounts in the Republic of Latvia registered company and cooperative society, established in the Republic of Latvia in the European economic interest group, the European company and the European cooperative company, if that person is the parent company of the group, are obliged to prepare consolidated accounts for each financial year in the law "on accounting", if that parent company directly or indirectly (through one or more subsidiaries of this group's participation) has gained control according to at least one of the following conditions : 1) it is the shareholders ' or members ' voting rights a majority (more than 50 percent of the voting rights), on the basis of the equity interest in the subsidiary company (regardless of the size of this part of participation); 2) it has the right to appoint or revoke the supervision of subsidiary bodies, or of a majority of the members of the Executive Body (more than 50 percent of the number of members), on the basis of the equity interest in the subsidiary company (regardless of the size of this part of participation); 3) it has the right to exercise a dominant influence Group subsidiary company on the basis of the contract concluded with the other subsidiaries or shareholders or members in accordance with the statutes of the company (regardless of whether the parent company is or is not a part of the equity interest in the company); 4) most of the Group's subsidiary monitoring bodies or members of the Executive Body, which had been in the corresponding positions in the current accounting year, previous year and until the consolidated financial reporting is in place only for the parent company's voting rights; 5) alone controls a majority of shareholders ' or members ' voting rights in that Group subsidiary company on the basis of the contract concluded with the subsidiary of the other shareholders or members. 62. article. Voting rights, monitoring bodies and the number of members of the Executive Body, the calculation of this law, the voting rights referred to in article 61, the supervisory bodies and the number of members of the Executive Body, shall be calculated as follows: 1) of the parent company's shareholders ' or members ' voting rights, monitoring bodies and the number of members of the Executive Body, plus it voting rights, respectively, the monitoring bodies and the number of members of the Executive Body, which is the other Group subsidiaries or by persons acting on their behalf, but parent companies or subsidiaries of this group;
2) Group subsidiary companies of the shareholders ' or members ' voting rights will be reduced by the total number of voting rights relating to shares or parts: (a)) which belong to mazākumakcionār and are used in the same mazākumakcionār, b) which are held as a guarantee to the extent that the voting rights are exercised in the right of the person who provided the security, or in accordance with the conditions of the loan, which is c) even in the subsidiary company or its subsidiary company If a person acting in his own name but the same respective subsidiaries or its subsidiaries.
Article 63. The companies involved in the consolidation (1) preparing the consolidated annual accounts, the consolidation of the group assigned to the parent company and all its subsidiaries, regardless of whether the subsidiary is registered in Latvia or abroad, except for subsidiaries which, in accordance with article 68 of this law not involved in a consolidation. (2) the Group subsidiary companies involved in the consolidation from the date on which the parent company has acquired control of the subsidiary. (3) the Group subsidiary companies excluded from consolidation from the date on which the termination of the parent company's control over the subsidiary. 64. article. Exemption from the obligation to prepare consolidated annual accounts of the parent company of little (1) of the Act referred to in article 61 of the parent company shall be exempt from the obligation to prepare consolidated accounts, if it is a small group's parent company (articles 6 and 7). (2) of this article, the exemption provided for in the first subparagraph shall not apply if the parent company or its subsidiaries is included in transferable securities on a regulated market. Article 65. Exemption from the obligation to prepare consolidated annual accounts of the parent undertaking which is a subsidiary of another group (1) of the Act referred to in article 61 of the parent company, which is the Group's other subsidiary, be exempt from the obligation to prepare consolidated accounts, if this (the consolidated annual report released of the obligation) of the parent company is the Republic of Latvia or another Member State of the European Union registered company which meets at least one of the following conditions: 1) it belongs to all (100 per cent) under the procedures laid down in this article is from the consolidated annual report of the shares in the exempted undertaking or part. Determining capital participation in this society, are not taken into account its shares or parts which belong to the supervisory bodies and the members of the Executive Body in accordance with the obligations imposed by the laws or the company's instruments of incorporation or the statutes; 2) it holds at least 90 percent in accordance with the procedure laid down in this article is from the consolidated annual report released of the obligation of the company or part of the shares, and the remaining shareholders in or members of that undertaking (mazākumakcionār) has agreed to (is informed and do not object) for the application of that exemption. (2) the exemption provided for in this article shall be applied in accordance with the following conditions: 1) the consolidated annual report of the parent company in the free and all its subsidiaries are included in the parent company's consolidated annual report, which is in the Republic of Latvia or another Member State of the European Union registered company, and this report has been prepared pursuant to the requirements of the country in which the company is registered, or international accounting standards; This part 2) referred to in paragraph 1 of the consolidated annual report, together with a copy of the certified copy of the auditor's report or a copy of the report of the person that the other Member State of the European Union is responsible for the consolidated annual report, and the translation of Latvian language in the document (if the documents are submitted in another European Union Member State registered company and they are not prepared in Latvian language) is submitted to the Registrar of companies of this law article 98 in the first paragraph in the order; 3) those parts referred to in paragraph 1 of the consolidated annual report, together with a copy of the certified copy of the auditor's report or a copy of the report of the person that the other Member State of the European Union is responsible for the examination of the consolidated annual accounts (if these documents have been prepared in Latvian language), translations of such documents or the Latvian language (if the documents are submitted in another European Union Member State registered company and they are not prepared in Latvian language) is published in the Official Gazette "Latvijas journal"; 4) the consolidated annual report released of the obligation of the company notes to the financial statements is its parent company's identification data (name, registered office and registration number in the register of companies or other concerned Member States of the European Union institutions) and the information that this company is exempted from the obligation to prepare consolidated accounts.
(3) the exemption provided for in this article shall not apply if the parent company or its subsidiaries is included in transferable securities on a regulated market. 66. article. Exemption from the obligation to prepare consolidated annual accounts of the parent company, which has only such subsidiaries for which the information is not significant in This article 61 of the law that the Group's parent company is exempted from the obligation to prepare consolidated accounts, it is the only such subsidiaries for which information (evaluating and each subsidiary separately and all subsidiaries as a whole) is not significant. Article 67. Exemption from the obligation to prepare consolidated annual accounts of the parent company, which has only such subsidiaries, which do not involve the consolidation of this Act referred to in article 61 of the parent company shall be exempt from the obligation to prepare consolidated accounts, it is the only such subsidiaries not involved in a consolidation on the basis of this Article 68 of the law in these circumstances. 68. article. Group subsidiary company involvement in the consolidation Group subsidiary company does not have to be involved in the consolidation, if there is at least one of the following circumstances: 1) strict limitations substantially in the long term make it difficult for the parent company's possibilities to exercise their rights to this Group subsidiary companies and property management; 2) very rare cases, the consolidated annual report for the preparation of the necessary information may be obtained only by inhibiting this law, article 97 of the deadlines and with the excessive costs; 3) Group subsidiary company stock or shares of its parent company's property are kept for the sole purpose of selling them later; 4) information for the Group's subsidiaries not essential article 69 of this law the third part. If the same group is more such subsidiaries and its importance as a collection excluding from consolidation would not provide a true and fair view of the Group's operating results and financial position, and then turn them off from the consolidation are not allowed. NodaļaKonsolidēt XIV annual accounts are drawn up in the terms of article 69. Composition of the consolidated annual report and its preparation and general provisions (1) the consolidated financial statements as a whole consists of the consolidated financial statements and consolidated management report. The consolidated financial statements consist of the consolidated balance sheet, consolidated income statement, the consolidated cash flow statement, the consolidated statement of changes in equity and consolidated financial statement of the annex (hereinafter referred to as the consolidated financial statement components). (2) consolidated accounts shall be drawn up clearly and in accordance with the law "on accounting", this law and other laws. (3) the consolidated annual accounts must give a true and fair view of the Group's funds (assets), liabilities, financial position, profit or loss and cash flow. (4) where, under this law, prepare consolidated annual accounts do not give sufficient information to the true and fair view of the group, provides additional information in the consolidated financial statements.
(5) for the purposes of the group give a true and fair view of the third paragraph of this article, may in exceptional circumstances derogate from this law, 71, 72, 74, 76, 77, 78, 79., 81, 86 and 87. article. Any such resignation, to explain the consolidated financial statements, indicating the provisions of this law, the application of which the parent company has departed, the reason for the resignation and the impact on the Group's assets, liabilities, financial position, profit or loss or cash flow. 70. article. Authorization to prepare consolidated financial statements in accordance with international accounting standards on the basis of the European Parliament and of the Council of 19 July 2002, Regulation (EC) No 1606/2002 on the application of international accounting standards, article 5 of the parent company can prepare consolidated annual accounts in accordance with international accounting standards. In the case referred to in this article, the parent company of the consolidated annual report and the consolidated financial statement item for assessment of the consolidated financial statement components and explanatory information in the consolidated financial statements the application of article 3 of this law the fifth subparagraph 1., 2., and 3. 71. article. Consolidated financial statement component (1) Consolidated balance sheet prepared in accordance with the law specified in annex 1 of the scheme. (2) consolidated income statement preparation you can choose between 2 or 3 of this Act specified in annex schemes. (3) consolidated cash flow statement is prepared according to this law, 4. or specified in annex 5 for the scheme. (4) consolidated statement of changes in equity shall be drawn up in accordance with the law specified in annex 6 of the scheme. (4) consolidated financial statement components, respectively, of this Act apply to the 10, 11, 12, 14 and 15, as well as of article V, VI, VII, and VIII, the provisions of chapter IX, taking account of the essential adjustments resulting from the consolidated financial statement. 72. article. The companies involved in the consolidation the financial statements items of the combining of the amount (1) Consolidated financial statements prepared in the order listed in this article combining the parent society and the consolidation of the subsidiary (hereinafter also-companies involved in the consolidation) in the relevant financial statement items the specified amounts. To the consolidated financial statements should be prepared as a single company, the financial statements comply with article 73 of this law shows the consolidation procedures. (2) the companies involved in the consolidation of the balance sheet assets and liabilities are fully included in the consolidated balance sheet. (3) the companies involved in the consolidation income statement items are fully included in the consolidated profit and loss statement.
(4) the Consolidation of the companies involved in the cash flow review full of items included in the consolidated cash flow statement, when prepared, applying the direct method. If the consolidated cash flow statement prepared by applying the indirect method, the calculation of the amount to be included in the report, respectively, increasing or decreasing the amounts set out in the consolidated income statement items. Calculations using the consolidated balance sheet, as well as additional information on the consolidation of the companies involved in the cash flows in the financial year (article 46). (5) the Consolidation of the companies involved in the consolidated statement of changes in equity items amounts to be determined on the basis of consolidated balance sheet equity items amounts specified and additional information about the companies involved in the consolidation of equity and changes in its ingredients in the reporting year. 73. article. Consolidation procedures (1) consolidation procedures are as follows: 1) adjusts to the consolidation of the subsidiary financial statements using different financial statements and other methods of valuation than the parent company's financial statement (article 74 shall apply to the conditions); 2) translated into euro in foreign countries registered Group subsidiary company financial statements (article 75 shall apply the conditions); 3) off the parent company's balance sheet value and the corresponding value of the interests in subsidiaries equity (the equity consolidation) (apply the provisions of article 76); 4) completely excluded from the consolidation of the companies involved in transactions between: (a) cross-posted) settlement balance amounts (article 77 shall apply to the conditions), (b) the amount of revenue or cost) (apply the provisions of article 78), c) funds (assets) book value amount of the increase or reduction (article 79 of the conditions apply); 5) determines the participation of mazākumakcionār part in the consolidation of the subsidiary involved in equity and profit or loss (article 80 applied conditions). (2) Consolidated financial statements based on the calculations and the table where the preparation of the law "on accounting" source documents and accounting records. That document — calculation and table-storage time of 10 years. 74. article. Consolidation of subsidiaries involved in financial reporting update, if used in different accounting principles and other evaluation methods (1) If the consolidation Group subsidiary company financial statements used in the different financial statements and other methods of valuation than the parent company's financial statements, the Group's parent company, preparing consolidated accounts, the financial statement items are adjusted. The calculated adjustment amount shall be increased or reduced in the Group subsidiary companies the value of balance sheet items and profit or loss of items. (2) in exceptional cases, when calculating the amount of the adjustment is not possible, actually allowed to derogate from the first paragraph of this article. Of any such resignation, shall provide information in consolidated financial statements, explaining the reasons. 75. article. The Group registered in foreign subsidiaries financial statements for euro conversion (1) To the consolidated financial statements include the Group's subsidiaries registered in a foreign society, foreign currency the company prepared the annual report translated into euro. Making the conversion, comply with the following conditions: 1) assets and liabilities (funds, liabilities and equity) translated into euro in accordance with the accounting used in the foreign exchange rate that is valid on the balance sheet date (the end of the day);
2) income and expenditure (costs) translated into euro in accordance with the accounting used in the foreign exchange rate that is valid on the day of the financial transaction. (2) the first part of this article, paragraph 2 of the statement of revenue and expenditure (cost) for the conversion of the euro may be used week, month, or year average specific foreign exchange rate, calculated by adding all the relevant period calendar day starting existing in foreign currency used in accounting courses and get the total divided by the number of calendar days. (3) if the recalculation of this article results in a balance sheet or profit and loss statement of the difference in the value of the items, they point directly to the consolidated reserve. Consolidated balance sheet that reserve contained positive or negative differences indicating a separate item "foreign exchange conversion reserve" or the total amount in the consolidated reserves, including allocation of these amounts in the consolidated financial statements. 76. article. Equity consolidation (1) this law, article 73, first paragraph, point 3 of the said equity consolidation is carried out on the basis of consolidation subsidiaries involved in the shares or the value of the balance sheet date that meets one of the following conditions: 1) this is the date that the subsidiary company was first involved in the consolidation; 2) it is a subsidiary of the shares or acquisition (purchase) date; 3) it is a date that the company has become a Group subsidiary company if that company's stock or shares are acquired (purchased) different dates. The consolidated financial statements indicate the value date. (2) the own funds resulting from the consolidation difference is attributed to the consolidated balance sheet items of value it accordingly if you increase or decrease the value of the item is higher or lower than the subsidiary involved in the consolidation of the balance sheet carrying amount originally specified. If that difference is not possible fully to apply to the consolidated balance sheet items, any remaining positive amount indicates the item "goodwill" in the balance sheet assets. The remaining negative difference is immediately included in the consolidated profit and loss statement. (3) consolidated financial accounts provide information on the methods used, the item "goodwill" and its changes compared to the previous accounting year. (4) the procedure defined in this article shall not apply to the parent company's shares or parts, which is the parent company or any subsidiary company involved in the consolidation of the property. The following consolidated balance sheet shares indicates the item "own shares". 77. article. Mutual settlement balance amount from the consolidated balance sheet items off the consolidation of the companies involved in the transactions between the posted balance between the amount of the settlement (also for dividends) contained in the customer and vendor displays items and stock items. 78. article. Cost and revenue from consolidated income statement items excluded from the consolidation of the companies involved in transactions between revenue and incurred with these revenue costs, these firms and the companies involved in the consolidation applied to dividends, interest receipts and payments, and similar costs. Article 79. Funds (assets) value of the amount of the increase or reduction from the consolidated balance sheet items excluded from consolidation companies for mutual transactions posted amounts: 1) to the other years applied to the amounts of income and expenditure, which includes deferred income or deferred expenditure items; 2 fixed assets, inventory) and other value or amount of reduction, contained in the relevant assets of the balance sheet and income statement items, unless such reduction amounts not recoverable. 80. article. Part of the Mazākumakcionār participation (1) Consolidation subsidiaries involved in the equity of the part to the extent that it relates to the suspension of shares mazākumakcionār and parts, indicate the consolidated balance sheets under "Mazākumakcionār holding". (2) Consolidation subsidiaries involved in the profit or loss, relating to shares and mazākumakcionār in suspension parts, indicate the consolidated profit and loss statement under "Mazākumakcionār profit or loss". 81. article. Deferred tax liabilities and deferred tax assets deferred tax liabilities the amounts or deferred tax assets amounts included in the consolidated balance sheet, if it is expected that the consolidation of the society involved in the cover or the back of the next report. Article 82. The consolidated annual accounts balance sheet date (1), the consolidated annual accounts of the parent company's annual review and consolidation of the subsidiary involved in the annual report, balance sheet date must be equal, and it is the day when prepared the annual accounts of the parent. (2) if the consolidation Group subsidiary involved in the company's annual report on the balance sheet date is different from the parent company annual accounts balance sheet date of three months or more, the following subsidiary involved in a consolidation on the basis of the consolidation of all (non-audited) financial statements at the balance sheet date which corresponds to the consolidated annual accounts of the balance sheet date. 83. article. Group subsidiary company's revenue and costs in the consolidated profit and loss statement Group subsidiary company's revenue and costs included in the consolidated profit and loss statement as of the date on which this society has become a subsidiary of the group, and before the date on which the termination of the parent company's control over the subsidiary. 84. article. The Group's subsidiaries and mazākumakcionār balance sheet items of participation part off of the consolidated balance sheets (1) where the parent company is losing control over consolidation Group subsidiary involved in society, of the consolidated balance sheets turn off: 1) these subsidiaries balance sheet assets and liabilities; 2 the participation of mazākumakcionār). (2) in the first subparagraph, these items are valued according to the value of these items is the date in which the ends of the parent company's control over consolidation Group subsidiary involved in society. 85. article. The companies involved in the consolidation change of composition (1) If during the reference year in the consolidation of the companies involved in the composition, there have been significant changes in the consolidated financial statements include information allowing this report compared to the previous reporting year consolidated financial statements. (2) of this article, the requirements referred to in the first subparagraph may be adjusted accordingly for the execution to be shown in the consolidated balance sheet of the relevant items in the balance at the beginning of the year (previous year's figures) and prepare a consolidated adjusted income statement. 86. article. Jointly managed the company's inclusion in the consolidated financial statements (1) If a company involved in the consolidation and consolidation of one or more of the participating companies in this jointly managed by another company, then this joint management companies included in the consolidation, in applying the equity method. The equity method is a method of accounting that participation in the share capital of another company initially — the date of the acquisition (purchase) — evaluates and posts according to the acquisition cost, but after that date, each at the end of the accounting year that participation in the value adjusted increasing or decreasing depending on the company's own equity in the total of the increase or reduction of the period concerned. (2) on the basis of the equity method measure the interest in a jointly managed company if the impact is substantial, which is backed by no less than 20 and no more than 50 percent of the voting rights in that company, the consolidated balance sheets under "participation in the equity of associated companies" and apply this law, the requirements of article 87. If the impact on the common management of the company is not significant, the interest in a jointly managed community indicate the consolidated balance sheets under "other securities and investment". (3) by way of derogation from the first and second subparagraph shall jointly manage public funds, liabilities, equity, revenue and expenses (costs) may be included in the consolidated financial statements in proportion to the consolidation of the companies involved in the part of the equity interest in the company. (4) Joint management companies into consolidation using the first, second or the third part of the specified method is only possible if the respect of article 71 of this law the fifth subparagraph, 72, 73, 74, 75, 76, 78, 77, 79, 80, 81, 82, 83, 84 and 85. article. 87. article. Associated companies included in the consolidated financial statements (1) If a company involved in a consolidation is an associate company, the consolidated balance sheets under "participation in the equity of associated companies". (2) consolidated balance sheet initially including participation in associated company, it evaluates the amount consists of the associated company's shares or the acquisition value and the value of those holdings increase or reduction of the period from the date of purchase, or from the date on which the undertaking became an associated undertaking, if associated or part of the company's shares acquired (purchased) different dates until the consolidated annual accounts of the balance sheet date. This value increases or reductions shall be calculated in accordance with the associated companies annual report data, based on the proportion of the capital (percentage) associated companies equity (the equity method). (3) the difference between the associated company shares or acquisition value, calculated in accordance with this law, article 14, first paragraph, point 10 of the evaluation provided for in the regulations, and the amount corresponding to the proportion of capital invested (in percentage) of the associated companies in equity at the date of acquisition, indicate the consolidated financial statement. That difference shall be calculated as of the date on which the equity method is applied for the first time. The consolidated financial statements also indicate whether, initially including the participation of associates in the consolidated balance sheet, the society in its acquisition value specified, or the amount corresponding to the proportion of the associated undertaking's capital. (4) an associated company annual report, if possible, prepare the consolidated financial statements according to the accounting methods used. If the associated company registered in a foreign country, the foreign currency annual report translated into euro by applying this law, the provisions of article 75. If the associated public financial report used different financial reporting principles and methods of valuation other than the consolidated financial statements, the Group's parent company, to calculate the third part of this article, this difference can be adjusted respectively associated companies corresponding financial statement item. If this adjustment is not made, this fact provides information on the consolidated financial statement. (5) the next review in years after participation in the associated company originally included in the consolidated balance sheet, under "participation in the equity of associated companies" the amount adjusted increasing or decreasing depending on the associated company the amount of the equity capital of the increase or reduction of the period concerned. (6) the item "participation in the equity of associated companies", the amount of each reporting year also reduces the associated companies calculated the amount of the dividends relating to this participation. (7) when referred to in the third subparagraph the difference is positive, it is included in the consolidated balance sheets under "participation in the equity of associated companies" in the specified amount. If it is not possible to fully attributed this difference to the balance sheet item, any remaining positive amount indicates the item "goodwill". The resulting negative difference is immediately included in the consolidated profit and loss statement. (8) the associated company's profit or loss amount that applies to companies involved in the consolidation of shares or suspension parts, indicate the separate consolidated income statement item, under one of the following conditions: 1) the item "income from investments in associated companies ' equity" — if it's associated companies profit;
2) under "participation in associated undertakings impairment" — if it has an associated loss of the company.
(9) public participation associated companies long-term investment revaluation reserve and other reserves created in connection with changes in the value of assets, identify the consolidated balance sheet, including directly in equity. (10) Article 73 of this law in the first part of the exclusion provided for in paragraph 4 shall be made only to the extent that it is based on source documents or facts which are impossible to get source document. (11) If an associated company shall prepare consolidated financial statements, the procedure defined in this article shall apply to the equity items shown in this consolidated financial statement. (12) the associated society has an obligation to its community, which affects it is essential to provide the associated companies of the shareholders ' or members ' meeting approved the annual report. If the associated company shall prepare consolidated accounts, in part, that in this article shall also apply to the consolidated accounts. (13) the procedure defined in this article shall not apply if the information about participation in the associated company and the profit or loss is not significant to the article 69 of this law, in the third paragraph, the requirements specified. 88. article. The consolidated financial statements and preparatory arrangements (1) consolidated financial statement in the annex provides in chapter X of this law and the information specified in this chapter. This information shall be provided in such a way that the consolidated annual accounts to make it easier for users to evaluate the consolidation as a whole, the company's financial position. In preparing this information, take account of the essential adjustments resulting from the consolidated financial statements compared to the nature of the companies involved in the consolidation financial statements, including: 1) providing information about the parent company or other companies involved in the consolidation of transactions with related parties (53.14 the first subparagraph of article), it does not include the consolidation of the companies involved in the transactions between that off as a result of the consolidation procedure; 2) providing information about the consolidation of the companies involved in the average number of employees in the year (52.6 of the first paragraph of article), with a separate indication of the average number of employees in the company under shared management; 3) providing information on the management of the advance, loan or guarantee relationship (52.3 of the first paragraph of article) and control of the functions assigned the total remuneration (article 53 of the first subparagraph of paragraph 3), found only in the parent company's supervisory institutions and members of the Executive Body for the exercise of their function in the parent company and its subsidiary the remuneration granted total and issued an advance loan or guarantee the amount of the breakdown of the individual position groups (Council and Board members). The same applies to pensions and similar obligations to former parent company monitoring institutions and members of the executive body. (2) in addition to the first paragraph of this article, the information in the consolidated financial statements also provided the following information: 1) the consolidation of the companies involved in the name and registered address of the company (with the exception of the parent company) shares (percentage) that belong to the companies involved in the consolidation or by persons acting on their behalf, but the companies involved in the consolidation, in addition, also indicate which of the article 61 of this law the conditions justify the involvement of the public in the consolidation. The information referred to in this paragraph also provides for them Group subsidiary companies which, in accordance with this law, article 66 or 68. not involved in consolidation, and explain the reason for involvement; 2) associated company name and address, as well as public capital (in percentage), which belongs to the companies involved in the consolidation or by persons acting on their behalf, but the companies involved in the consolidation; 3) jointly managed the company name, registered office and the company management, the common grounds as well as the public shares (percentage) that belong to the companies involved in the consolidation or by persons acting on their behalf, but the companies involved in the consolidation; 4) the general public the name and registered office of which is not mentioned in the second paragraph of article 1, paragraphs 2 and 3 and with the same companies involved in the consolidation or by persons acting through in his own name but on the company, owned by capital, and capital interests in size, the amount of equity and the profit or loss of the company for the last year for which the report is approved the company's annual report. Information relating to equity and profit or loss, may not give, if the company does not publish its annual report. (3) the second paragraph of this article, the information specified in paragraph 1 of this law, which of the conditions laid down in article 61 based public involvement, consolidation may not give, if consolidation is implemented on the basis of this law, article 61, paragraph 1, and if part of the equity interest and voting rights of the shareholders or members is equal parts (62 of this law shall apply in article order of calculation of voting rights). Article 89. The consolidated management report (1) the consolidated management report for companies involved in the consolidation as a whole this law provides at least the information laid down in chapter XI. (2) consolidated management report information is provided in such a way that the consolidated annual accounts to make it easier for users to evaluate the consolidation the companies involved as a whole. In preparing this information, take account of the essential adjustments resulting from the consolidated management report in comparison with the characteristics of the companies involved in the consolidation of the management report. Including, revealing information about the company's own shares or as a whole (article 55 of the third subparagraph of paragraph 3), the parent company of shares or parts, which are the property of the parent company or its subsidiary companies owned or persons who act in their own name, but the Group's constituent companies (also indicate the number of shares or units and the nominal value). Article 90. The consolidated management report management report of merger with the parent company and the consolidated management report management report can be presented as a single document, which provides both this law 55. Article information about the parent company, and 89 of this law the information specified in article about the companies involved in the consolidation as a whole. NodaļaGad XV review and audit of the consolidated annual accounts (checking) or a limited examination article 91. The annual accounts and consolidated annual accounts audit (examination) (1) this law, article 3, first paragraph, of the public referred to in paragraph 1 of the annual report, if it is a medium or large company or if they are included in transferable securities on a regulated market, as well as the Group's parent company prepared consolidated audited accounts (checking) and for audit (examination) of the results of the auditor's report gives a sworn auditor (the sworn auditor, several) or certified auditor of the company (hereinafter referred to as the sworn auditor) according to the law "on sworn auditors". (2) article 3 of this law, the first subparagraph of paragraph 1, small companies prepared the annual report audited by a certified auditor (checking) and gives the auditor's report on audit (examination) results only in the following cases: 1 if the company figures) for two consecutive years (both the current and the previous one), but a newly created public — the first review on balance sheet date exceeds two of the three criteria referred to in this paragraph limits : a) a balance sheet total of 800 000 euro, b-) net turnover: eur 1 600 000 c) average number of employees during the year under review, 50; This company has 2) if the parent company — regardless of whether they are covered or not covered by this law, 64, 65, 66 or 67.. the relief referred to in article from the obligation to prepare consolidated accounts; 3 If the company is public) person Corporation, its subsidiary corporation or public private Public entities part of the capital and the management of the Corporation law; 4) If this company, the application of this law article 13 paragraph 2, fifth subparagraph, appropriate financial statement item is recognized, assessed and stated in the financial statements in accordance with international accounting standards. (3) the annual accounts or consolidated annual accounts audit (examination) also includes accounting inspection to check that it meets accounting laws and regulatory requirements. Annual accounts or consolidated annual accounts audit (examination) also clarified that the annual accounts and the consolidated annual report of the regulatory laws and requirements. 92. article. Limited annual report (1) the limited test is a testing task, which is to be performed according to the law "on sworn auditors ' financial report for the specified data and information, including corporate income tax compliance. (2) article 3 of this law, the first subparagraph of paragraph 1, small companies limited annual report and check out the auditor's audit report provided a sworn auditor according to the law "on sworn auditors", if this small company meet both of the following conditions: 1) on this small company is not subject to this law, the second subparagraph of article 91 of the conditions under which the annual report being subjected to audit by Chartered auditor (checking); 2) this small firm rates at the balance sheet date for two consecutive years, exceed two of the following limits: (a) the balance sheet total) — 400 000 euro, b) net turnover: eur 800 000, c) average number of employees during the year under review, 25 (3) of this article referred to in the second paragraph of the small company's annual report, its examination is entitled to choose either limited examination, or of the Act specified in article 91 sworn auditors audit (inspection) to get a sworn auditor's report on audit (examination) results. 93. article. Provision of information to the sworn auditor (1) 91 of this law and article 92 in the company's management shall submit a sworn auditor in accordance with article 95 of the Act, the requirements of a signed annual accounts and consolidated accounts (if any be prepared). (2) If the annual accounts or consolidated annual accounts after filing a sworn auditor, but before the date on which the certified auditor auditor's report signed by the auditor or audit report, 91 and 92 of this law. the company mentioned in article make corrections, the management of this fact immediately inform the certified auditor and submitted to him clarify and properly signed annual accounts or consolidated annual accounts. XVI nodaļaGad accounts and the consolidated annual report design, signing, validation, submission and publication of article 94. The annual accounts and the consolidated annual report design (1) annual report (financial statement and management report) can be presented as a single document as a set of two documents, which consists of the financial statement and management report, or as a set of several documents which consists of individual components of the financial statements and the management report. To the annual report, would have any legal force at the start of the document indicates the General information for the public as the author of the document, but at the end of the document, date, and signature. The annual report Documents the legal force of the applicable law of procedure, but if the annual report is produced as an electronic document, then also applicable law of electronic documents. (2) the General information for the public is the following: 1) the name of the company (the merchant business), its nature and its legal address and the registration number of the business register in a journal or other register of companies kept registers; 2 individual enterprise, farmer) and fisherman's farm, owner's name, surname, personal code and specify the address of the person or, if one is specified, the declared place of residence address; 3 General partnership and limited partnership) (hereinafter referred to as partnership) — also personally responsible companion and NUW appear jointly name, surname, personal code and specify the address of the person or, if one is specified, the declared place of residence address, but a legal person — name, registration number and registered office; 4) joint stock company and limited liability company (hereinafter referred to as the Corporation), as well as a cooperative society, the members of the Board and Council members (if you have created a Council) name, surname and title. This information is also provided for those individuals who in the course of the financial year and up to the date of approval of these posts freed. (3) the consolidated annual report shall apply accordingly in the first part of this article. General information about the parent company as of the consolidated annual report author specifies: 1) name (merchant), type and legal address and the registration number of the commercial register or the register of enterprises; 2) of the second paragraph of this article, 3 or 4, above. Article 95. The annual accounts and the consolidated annual report is signed (1) the annual report shall be signed: 1) individual companies, farmers and fishermen holding's annual report — owner or other official, who registered in the register of companies entitled to represent the individual business, farmers and fishermen; 2) partnerships annual report: all the members of this society whether they are members of society who are specifically authorized to represent the company; 3) Corporation, as well as the cooperative society's annual report, the Board or its trustee Board member. (2) If a member of a partnership, Corporation or cooperative society Board Member believes that the annual report is not approved, or raise objections, he noted the different views in a special note.
(3) consolidated accounts shall be signed by the parent company's management: 1) Corporation, as well as cooperative society, the Board or its trustee Board Member; 2 all this in partnership society) members or members of the public that they are specifically authorized to represent the company. (4) If a corporation or cooperative society Board member or member of the partnership believes that the consolidated annual report is not approved, or raise objections, he noted the different views in a special note. (5) the financial statements and consolidated financial statements signed so the person (an accountant or an accountant outsourcing), with the company has concluded a written agreement which sets out the person's duties, rights and responsibilities of the accounting issues, and sort prepared that statement, specifying the name and full title or name of the company or the operator's company and job title. The company, which is a unit of accounting and accounting staff, you can determine the sort of accounting and the preparation of the annual report of a responsible person (for example, accounting), the signing of the financial statements and consolidated financial statements. In this case, the financial report and the consolidated financial statement indicates the person's first name, last name and full title. Article 96. The annual accounts and the consolidated annual report (1) the annual report shall be approved in accordance with the relevant legal regulations governing personal requirements. (2) consolidated accounts approved by the parent company's shareholders ' or members ' regular meeting together with the parent company's annual report, seven months after the end of the reporting year. Article 97. The annual accounts and the consolidated annual report (1) the Company shall, not later than one month after the annual accounts and the consolidated annual report (if applicable) approval and no later than four months after the end of the year, but on average, a large public company and the parent company that prepares the consolidated annual report, no later than seven months after the end of the reference year for the State revenue service submitted in paper form or electronically prepared annual report (financial statement and management report) and the consolidated annual report (if any) derivatives in electronic form — electronic copy of the electronic declaration system together with an explanation (electronic form) of when the annual report and the consolidated annual report (if any) approved participant in the meeting.
(2) article 3 of this law, the first paragraph of the company referred to in paragraph 1, where the annual accounts or consolidated accounts (if any) audited (checked) a sworn auditor, the State revenue service electronic declaration system submitted in paper form or the auditor's report the auditor of an electronic copy of the inspection report. Sworn auditor in the electronic declaration system check and confirm that the annual accounts or consolidated annual accounts (if any) a derivative of the electronic form of the information provided by the content corresponds to the annual report or the consolidated annual report (if any) for which the auditor provided a sworn auditor's report or the auditor's audit report. (3) the submission of the electronic declaration system of financial reporting or consolidated financial statement (if any) derivatives in electronic form — electronic transcripts, prepared in accordance with the Cabinet of Ministers approved the form. (4) the company, in accordance with the financial instruments market law to prepare the annual accounts and consolidated accounts according to international accounting standards, the State revenue service electronic declaration system in addition to the submitted paper prepared the annual report and the consolidated annual report (if any) the electronic copy. 98. article. The annual accounts and the consolidated annual report disclosure (1) the State revenue service no later than five working days electronically transmit to the Registrar of companies of the Corporation, partnership and cooperative society of this law, article 97 in the first, second and fourth parts of these documents. Business register provides public access to the documents you receive. Documents transferred to the online business register data transmission mode. (2) the register of undertakings by article 97 of this law for the first, second and fourth parts of the document referred to in the receipt no later than five working days shall be published in the Official Gazette "Latvijas journal" statement, that the annual accounts or consolidated annual accounts and the copies of documents in electronic form are available in the register of companies. Article 99. The exemption of the management mikrosabiedrīb report To mikrosabiedrīb, which has used this law referred to in article 56 and not prepared management report, not subject to this law, the requirement of article 97 annual report components: management report-filing. 100. article. On the annual accounts and the consolidated annual report, audit (examination) of the person responsible for submission and (1) on the annual accounts and, where appropriate, the consolidated annual report and compliance with the provisions of this law or in the cases specified in this law, compliance with the international accounting standards, exposure to audit (inspection) or limited inspection, as well as its submission of article 97 of this law in accordance with the procedure laid down in the company's management is responsible. (2) if the company's management has not submitted documents in accordance with article 97 of this law, the State revenue service officer of the administrative penalty for the annual accounts or consolidated annual accounts under the rules of submission. Transitional provisions 1. With the entry into force of this law shall lapse by law (the annual report of the Republic of Latvia Supreme Council and Government Informant, 1992, 44/45.nr.; The Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 1995, no. 8; in 1996, no 24; in 1998, nr. 6, 21; 2000, no. 2; 2001, no. 9; 2004, no. 2; 2005, no. 13; 2006, nr. 24; 2008, no. 13; 2009, no. 9; Latvian journal, 2009, no. 199; 2010, 40, 102, 166 no; 2012, 101, no. 199; 2013, 142, no. 194; 2014, 105 no) and consolidated annual accounts Act (Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 2006, nr. 24; 2008, no. 13; Latvian journal nr. 166., 2010; 2013, 142, no. 194). 2. the provisions of this law apply to the annual accounts and consolidated annual reports, starting with the 2016. the reporting year (reporting year beginning 1 January 2016, or 2016. the calendar year). 3. The annual accounts and consolidated annual accounts, prepared on 2559. accounting year, respectively, in the annual report and consolidated accounts rules and on the basis of this Act issued by the Cabinet of Ministers Regulations: 1) the Cabinet of Ministers of 21 June 2011 regulations No. 488 "annual report law enforcement"; 2) Cabinet 21 June 2011 regulations No. 481 "rules on the cash flow statement and statement of changes in equity and the contents of the preparatory order"; 3) Cabinet of 15 June 2004, the provisions of no. 537 "order in which financial statements recording the State, local, foreign, European Community, other international organizations and institutions, financial aid (financial assistance), gifts and donations, whether in cash or in kind". 4. Undertakings in connection with the termination of 2016 shall prepare an annual report on the period of time that is shorter than 12 months, allowed up to 2016 December 31 annual report to apply rules of law. 5. The Cabinet of Ministers article 15 of this law shall be issued in the first and second paragraphs of these provisions not later than 1 January 2016. 6. the provisions required to act in accordance with article 97 of the third paragraph of the approved form in which the company prepares financial reports or consolidated financial statement for submission of electronic copies of the State revenue service electronic declaration system, the Cabinet of Ministers issued not later than 1 July 2016. Informative reference to European Union directive included provisions in the law arising from the European Parliament and of the Council of 26 June 2013 the EU Directive 2013/34/on certain types of enterprise annual financial statements, consolidated financial statements and related reports, amending European Parliament and Council Directive 2006/43/EC and repealing Council Directive 78/660/EEC and 83/349/EEC (text with EEA relevance). The law shall enter into force on January 1, 2016. The Parliament adopted the law 2015 of 22 October. The President r. vējonis 2015 in Riga on November 12, the annual report and the consolidated annual report annex likuma1 the balance sheet asset fixed assets i. intangible assets: 1. Development costs. 2. Concessions, patents, licenses, trademarks and similar rights. 3. other intangible assets. 4. Goodwill. 5. Advance payments for intangible investments. II. Fixed assets (fixed assets, investment properties and biological assets): 1. Real Estate: a) the land, buildings and engineering structures, b) investment property. 2. animals and plants: a) work or productive animals and permanent plantings, b) biological assets. 3. Long term investments leased assets. 4. Fixed assets fixed assets the public partner. 5. Technological equipment and devices. 6. other fixed assets and inventory. 7. the creation of fixed assets under construction object. 8. Advance payments for fixed assets. III. Long-term financial investments: 1. Investments in the capital of the company. 2. Loans to affiliated companies. 3. Participation in the equity of associated companies. 4. Loans to associated companies. 5. other securities and investments. 6. Other loans and other long-term receivables. 7. own shares or parts. 8. loans to shareholders or the players and management. 9. Deferred tax assets. Current assets i. stocks: 1. Raw materials and consumables. 2. Progress and order. 3. Finished goods and goods for sale. 4. Advance payments for inventory. 5. the animals and plants: a) and annual plantings, b) biological assets. 6. Held-for long-term investment. II. customers: 1. Trade receivables. 2. Affiliated company debt. 3. Associate the public debt. 4. Other debtors. 5. Not paid in shares in the company. 6. Short term loans to shareholders or members and management. 7. deferred costs. 8. the accrued revenue. III. Short-term financial investments: 1. Investments in the capital of the company. 2. own shares or parts. 3. other securities and participation kapitālo. 4. Derivative financial instruments. Iv. Money. Liabilities to equity: 1. Shares or capital (share capital). 2. share (part of) the premium. 3. the long term investment revaluation reserve. 4. Fair value of financial instruments. 5. reserves (a)) legal reserve, b) reserve own shares or shares, c) statutory reserves, d) backup, which directed the development, e) foreign currency translation reserve, f) other reserves. 6. Previous years retained earnings or does not cover losses. 7. Profit or loss for the financial year. 8. Mazākumakcionār participation. Savings: 1. Provisions for pensions and similar obligations. 2. Deferred income taxes. 3. Other provisions. Long-term creditors: 1. Borrowing against bonds. 2. loans convertible into shares. 3. Loans from credit institutions. 4. Other loans. 5. advance payments received From customers. 6. Payables to suppliers and contractors. 7. bills of Exchange Payable. 8. show affiliated companies. 9. show the associated companies. 10. taxes and State social security payments. 11. Deferred tax liability. 12. Other creditors. 13. Deferred income. 14. dividends paid. Short-term creditors: 1. Borrowing against bonds. 2. loans convertible into shares. 3. Loans from credit institutions. 4. Other loans. 5. advance payments received From customers. 6. Payables to suppliers and contractors. 7. bills of Exchange Payable. 8. show affiliated companies. 9. show the associated companies. 10. taxes and State social security payments. 11. Other creditors. 12. Deferred income. 13. the dividends paid. 14. Accrued liabilities. 15. Financial derivatives. The individual balance sheet items terms of use: 1. The item "investment property", "biological assets", "deferred tax assets", "long term investments held for sale" and "deferred tax liability" used only in such a society, the application of this law article 13 paragraph 2, fifth subparagraph, in accordance with international accounting standards recognised, assessed and reflected in the financial statements of investment property, biological assets, held for sale of financial fixed assets, deferred tax assets or deferred tax liability. 2. The item "Mazākumakcionār holding" uses only the consolidated annual report. The annual report and the consolidated annual report annex likuma2 profit or loss calculation scheme in the form of a vertical (classified by type of expenditure) Net turnover: 1. a) of the agricultural activity, b) from other operating activities. 2. Finished products and work in progress inventory change. 3. On the same long-term investment applied (capitalized).
4. Other operating income. 5. Cost of materials: a) the cost of raw materials and consumables b other external charges). 6. Staff costs: (a) remuneration for work) (b)) of the company pension funds, c) State social security payments, d) other social security costs. 7. Impairment adjustments: a) fixed assets and intangible investments impairment adjustments (b)) of the value of working capital adjustments, if they exceed the value of the amount of the write-down, which the company considers to be normal. 8. Other operating costs. 9. income from participation: (a) the public capital), (b)), the capital of associated company c) another company in the capital. 10. income from other securities and loans forming long-term financial investments: (a)) from the twin firms, b) from the associated companies and other companies, as well as securities and other long-term customers. 11. Other interest receivable and similar income: (a)) from the twin firms b) from other people. 12. Long-term and short-term financial investments of impairment adjustments: (a) the participation of associate companies) the capital value, (b)) other impairment adjustments. 13. Interest payable and similar charges: a) the twin companies, (b)) other people. 14. profit or loss before income tax of enterprises. 15. Corporate income tax for the year under review. 16. profit or loss after corporate income tax is calculated. 17. the income or cost of the deferred tax assets or liabilities balance changes. 18. extraordinary dividends. 19. Profit or loss for the financial year. 20. Mazākumakcionār a part of profit or loss. Profit or loss is calculated in the form of a vertical diagram (classified by type of expenditure) of individual items in the terms of use: 1. The item "extraordinary dividend" is used, if any. 2. The item "income or expenses from deferred tax assets or liabilities balance changes" uses only the company that the application of this law article 13 paragraph 2, fifth subparagraph, in accordance with international accounting standards recognised, assessed and reflected in the financial statements deferred tax asset or deferred tax liability. 3. The item "participation in the equity of associated companies the value of" impairment "other adjustments" and "Mazākumakcionār profit or loss" is used only in the consolidated annual accounts. The annual report and the consolidated annual report annex likuma3 profit or loss calculation scheme in the form of a vertical (classified by expenditure functions) 1. Net turnover: a) of agricultural activity, b) from other operating activities. 2. cost of production of the goods sold, sales or acquisition cost of the services provided. 3. Gross profit or loss. 4. Cost of sales. 5. Administration costs. 6. Other operating income. 7. Other operating costs. 8. income from participation: (a) the public capital), (b)), the capital of associated company c) another company in the capital. 9. income from other securities and loans forming long-term financial investments: (a)) from the twin firms, b) from the associated companies and other companies, as well as securities and other long-term customers. 10. Other interest receivable and similar income: (a)) from the twin firms b) from other people. 11. Long-term and short-term financial investments of impairment adjustments: (a) the participation of associate companies) the capital value, (b)) other impairment adjustments. 12. Interest payable and similar charges: a) the twin companies, (b)) other people. 13. profit or loss before income tax of enterprises. 14. Corporate income tax for the year under review. 15. profit or loss after corporate income tax is calculated. 16. income or cost of the deferred tax assets or liabilities balance changes. 17. extraordinary dividends. 18. Profit or loss for the financial year. 19. profit or loss Mazākumakcionār. Profit or loss is calculated in the form of a vertical diagram (classified by expenditure functions) the conditions for the application of certain items: 1. The item "extraordinary dividend" is used, if any. 2. The item "income or expenses from deferred tax assets or liabilities balance changes" uses only the company that the application of this law article 13 paragraph 2, fifth subparagraph, in accordance with international accounting standards recognised, assessed and reflected in the financial statements deferred tax asset or deferred tax liability. 3. The item "participation in the equity of associated companies the value of" impairment "other adjustments" and "Mazākumakcionār profit or loss" is used only in the consolidated annual accounts. The annual accounts and consolidated annual accounts likuma4. Annex With direct method cash flow statement prepared scheme i. cash flows from operating activities 1. Proceeds from the sale of goods and services. 2. payments to vendors, employees, other operating expenses. 3. Other operating revenues or expenses. 4. Gross operating cash flow. 5. Expenditure on interest payments. 6. Expenditure for corporate income tax payments. 7. Operating net cash flow. II.-operating cash flow 1. Affiliated companies, associated companies or other company shares or purchase. 2. income from affiliated companies, associated companies or other company shares or seizures. 3. Fixed assets and intangible investments purchased. 4. income from fixed assets and intangible investments. 5. Loans. 6. income from loan repayments. 7. Interest received. 8. dividends received. 9. Investing activities net cash flow. III. Financing activities cash flow 1. Proceeds from the share and bond issue or capital interests in investment. 2. received loans. 3. Receive subsidies, grants, gifts or donations. 4. Expenses for reimbursement. 5. Expenses for the leased asset redemptions. 6. Dividends paid. 7. Financing activities net cash flow. IV. Foreign currency fluctuations of the cash and cash equivalents net increase or decrease in VI. Cash and cash equivalents balance at beginning of the financial year VII. Cash and cash equivalents balance at the end of the year the annual accounts and consolidated annual accounts likuma5. Annex To the indirect method of cash flow statements prepared scheme i. cash flows from operating activities 1. profit or loss before income tax of enterprises. Correction: a) the asset impairment adjustment b) intangible assets impairment adjustment c) savings (excluding provisions for unsecured receivables), d) profit or loss from foreign currency fluctuations, e) revenue from shares in affiliated companies, associated companies or other public fixed capital formation, f) revenue from other securities and loans forming long-term financial investments, g) other interest income and similar income, h) long-term and short-term financial investments of impairment adjustments i) interest payable and similar charges. 2. profit or loss prior to working capital and short-term accounts payable balance change effects adjustments. Correction: a) the accounts receivable balance increases or decreases, inventory growth) b or c), suppliers, contractors and other creditors to be paid the balance of the debt increase or decrease. 3. Gross operating cash flow. 4. Expenditure on interest payments. 5. Expenses for corporate income tax payments. 6. Operating net cash flow. II.-operating cash flow related to the 1, associated company or another company shares or purchase. 2. income from affiliated companies, associated companies or other company shares or seizures. 3. Fixed assets and intangible investments purchased. 4. income from fixed assets and intangible investments. 5. Loans. 6. income from loan repayments. 7. Interest received. 8. dividends received. 9. Investing activities net cash flow. III. Financing activities cash flow 1. Proceeds from the share and bond issue or capital interests in investment. 2. received loans. 3. Receive subsidies, grants, gifts or donations. 4. Expenses for reimbursement. 5. Expenses for the leased asset redemptions. 6. Dividends paid. 7. Financing activities net cash flow. IV. Foreign currency fluctuations of the financial year net cash flows VI. Cash and cash equivalents balance at beginning of the financial year VII. Cash and cash equivalents balance at the end of the year the annual accounts and consolidated annual accounts likuma6. Annex statement of changes in equity scheme I. Shares or capital (share capital) 1. Prior year balance sheet indicated amount. 2. Prior year amounts in the balance sheet correction. 3. The shares or capital (share capital) to increase/decrease. 4. the balance sheet for the year indicated amount at the end of the period. II. share (part of) the premium 1. balance sheet of the previous year's amount. 2. Prior year amounts in the balance sheet correction. 3. share (part of) the premium increase/decrease. 4. the balance sheet for the year indicated amount at the end of the period. III. Long-term investment revaluation reserve 1. balance sheet of the previous year's amount. 2. Prior year amounts in the balance sheet correction. 3. the long term investment revaluation reserve surplus increase/decrease. 4. the balance sheet for the year indicated amount at the end of the period. IV. Fair value of financial instruments the margin 1. balance sheet of the previous year's amount. 2. Prior year amounts in the balance sheet correction. 3. Fair value of financial instruments the reserve balance increase/decrease. 4. the balance sheet for the year indicated amount at the end of the period. V. spare 1. balance sheet of the previous year's amount. 2. Prior year amounts in the balance sheet correction. 3. the balance of the reserves increase/decrease. 4. the balance sheet for the year indicated amount at the end of the period. Vi. Retained earnings previous year 1 of the amount in the balance sheet. 2. Prior year amounts in the balance sheet correction. 3. Retained earnings increase/decrease. 4. the balance sheet for the year indicated amount at the end of the period. VII. Equity 1. balance sheet of the previous year's amount. 2. Prior year amounts in the balance sheet correction. 3. balance sheet of the reporting year specified amount at the end of the period.