GB00_erste lage_E - Erste Group

Scope of Consolidation
The impact of this change on 1 January 2001 is detailed below:
in EUR million
Derivative positions (Interest rate swaps) (170)
Securities valuation (22)
Deferred tax assets 65
Total (127)
IAS 40 “Investment Properties” was adopted early (mandatory as of 1 January 2001), but the
impact was immaterial.
Points where the Consolidated Financial Statements according to IAS deviate from Austrian Accounting
Principles are outlined in VI.
Unless otherwise indicated, all amounts are stated in EUR million. Rounding differences may
occur in the following tables.
Assets and liabilities stated in foreign currencies and pending foreign currency spot transactions
are converted at the mean rate of exchange and forward exchange contracts at the forward
rate at the balance sheet date.
In translating the financial statements of foreign subsidiaries prepared in foreign currencies,
the mean rate of exchange at the balance sheet date was applied in the case of the Balance
Sheet and the annual average rate was used for the Income Statement. Translation gains and
losses resulting from the inclusion of foreign subsidiaries in the Consolidated Financial Statements
are netted with retained earnings.
The accounting policies applied uniformly throughout the Group observe the going concern
principle.
Revenue and expenses are recognised and reported in the period in which they are earned
and incurred, respectively.
Expenditures that are reimbursed on the basis of contractual agreements with third parties
are netted with the corresponding amount reimbursed.
In 2000 the scope of consolidation encompassed 263 domestic and foreign subsidiaries in addition
to Erste Bank AG. In the reporting period 29 subsidiaries were included in the Consolidated
Financial Statements for the first time and 6 companies were eliminated from the scope of consolidation.
Erste Bank 2000 73