A provision is made to cover the risk of unoccupied premises during
the period between completion of development projects and their first
lease. The amount of this provision is fixed annually in proportion to
the balance sheet value of the qualifying projects.
WIR-premiums are accounted for on the Equalization account WIR.
For short-term investments amounts released on the expiry of the period
of refund are added to the result. Premiums bearing on long-term
investments are annually added to the result in proportion to the period
of refund.
The other gains and charges are generally accounted for in the year to
which they relate.
The company income tax figuring in the profit and loss account has been
calculated on the balance of this account with due observance of
exempted components of profit.
The security positions are valued in such a way that losses on market
value recorded on the balance sheet date are reflected in the result but
unrealised profits on market value are not reflected in the result.
The dividends from non-consolidated participations are accounted for
in the year of distribution.
