hse group

3. FINANCIAL REPORT OF HSE D.O.O.
3.1 INTRODUCTORY EXPLANATIONS
46
Ground basis
The financial statements have been
prepared in accordance with the provisions
of the Companies Act (hereinafter
referred to as the CA) and the
valid Slovene Accounting Standards
2001 (hereinafter referred to as the
SAS) issued by the Slovene Institute
of Auditors.
The Company is subject to taxation
under the Corporate Income Tax Act
and the VAT Act.
Accounting policies
The following fundamental accounting
assumptions have been taken into
account during the preparation of the
financial statements:
• Accrual basis
• Going concern
• Fair presentation under the circumstances
of changes occurring in the
Euro value and in individual prices
The Company has considered the
general valuation rules for the valuation
of items in the financial statements:
• The company is viewed as a going
concern, i.e. as continuing in operation
for the foreseeable future
• Consistency
• Prudence
• Consideration of revenues and
expenses irrespective of their payment
• Individual valuation of assets and liabilities
Methods valuating
economic categories
The items in the balance sheet, income
statement and/or other statements
are to be recorded and valued
in compliance with the provisions of
the Slovene Accounting Standards, except
for those items that may be, in
accordance with the respective standards,
accounted for at freely selected
methods. The Company has determined
valuation methods for these cases in
its Accounting rules or in the decisions
taken by the Management Board.