4 - Refresco.de

Notes to the reconciliation of balance sheet and the income statement
The main impacts of reporting under IFRS as adopted by the European Union as compared to reporting under
Book 2 of the Dutch Civil Code (Dutch GAAP) are:
a) The components method has been used for property, plant and equipment, resulting in a change in
book value and depreciation. Furthermore, property, plant and equipment held for sales is classified to
assets classified as held for sale.
b) Annual amortization of goodwill has been reversed under IFRS and replaced by annual testing for impairment.
c) Interest rate swaps and foreign currency instruments are measured at fair value under IFRS, rather than
reported off balance as allowed under Book 2 of the Dutch Civil Code.
d) Deferred tax assets and liabilities are impacted by reclassifications within the balance sheet and by changes
in the profit before tax under IFRS.
e) Inventories under IFRS exclude certain cost items, resulting in a lower aggregate valuation.
f) The impact on trade receivables and prepayments, trade and other payables and other provisions relate to
reclassifications within the balance sheet.
g) The costs related to long-term liabilities have been measured using the effective interest method rather than
amortizing these costs on a straight line basis.
h) Most of the unrecognized gains and losses included in employee benefits as at January 1, 2008 have been
included in other reserves (IFRS 1).
i) Revenue is impacted by recognizing sales commissions and rebates as revenue under IFRS, rather than as
operating expenses as allowed under Book 2 of the Dutch Civil Code and by changing the method of contract
manufacturing revenue recognition.
j) Change in inventories of finished goods is reclassified to raw materials and consumables used.
There are no significant changes in the cash flow statement as result of the adoption of IFRS.
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