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Balance sheet on 01.01.2006
Assets
(mln. bel. rubles)
Long-term assets
_____________________1 885 430
Intangibles assets
___________________ 3 439
current assets:
- inventories and expenditures________________ 118 045
- cash
_______________________ 21 726
- receivables and other
__________________ 161 432
Total: assets ___________________________ 2 190 072
Liabilities
(mln. bel. rubles)
Internal funds
____________
1 933 746
Long-term obligations
___
10 481
Payables and other liabilities________________ 245 845
Total: liabilities_________________________
2 190 072
Financial statement from January
1, 2005 to January 1, 2006.
(mln. bel. rubles)
Gross income on sale
___________ 851 128
Production and sale costs___________________ 721 971
Profit on sales
___________ 129 157
Net profit on non-sale and other operations
7 342
Balance profit
______________________ 121 815
Long-term assets
Long-term assets include: depreciated cost of fixed capital and long
leased fixed assets, long-term investments, equipment to be
installed, capital construction in progress.
(mln. bel. rubles)
Fixed capital (depreciated cost)
__
1 828 766
Long leased fixed asset (depreciated cost)___________ 0
Long-term investments
_______ 6 609
Equipment to be installed _________________
6 398
Incomplete capital constructions
_____ 50 266
Total: ________________________________ 1 892 039
Intangibles
Intangibles represent residual cost of tangible assets
(mln. bel. rubles)
3 439
Internal funds
Internal funds include: registered stock, special-purpose funds,
purpose-oriented credits and returns, leases.
(mln. bel. rubles)
Registered stock ________________________
17 988
Special-purpose funds
___________ 1 909 865
Purpose-oriented credits and returns
_____
3 342
Leases
__________________
0
Reserve sources of internal funds
___
2 551
Losses born in previous years ___________
0
Accounting year losses ____________________
0
Total: __________________________________1 933 746
Long-term financial obligations
Long term obligations are long-term bank credits, taken by the
branches for implementation of capital investment programs.
(mln. bel. rubles)
10 481
Payables and other liabilities
Payables and other liabilities include: short-term credits and loans,
accounts payable, future income and и other short-term liabilities.
(mln. bel. rubles)
Short-term credits and loans ___________
8 350
Accounts payable ___________________
145 193
Future income
_________________ 97 659
Other short-term liabilities
_____________
0
Total: __________________________________ 251 202
Production and sale costs
Cost of production and sale of telecommunications services
include VAT and deductions to various funds.
Operating receipts / expenses
Operating receipts associated with any delivered/received services
are recognized in the same period when they have been paid.
Expenses are recognized in the period they have been actually
incurred regardless of the time of payments (advance or next).
Fixed assets
Initial value of fixed assets includes total expenditures for settlements
and allowance for contractors, material and labor cost, and interest
paid up to the date of putting the perspective assets into operation.
Retired fixed assets (depreciation or salvaging) are removed from the
balance with account of depreciation. Profit or loss resulting from the
fixed assets retirement is recognized in the profit-loss for the period
when depreciation or salvaging occurred.
Depreciation
Subject to normative life, fixed assets depreciation is calculated by a
straight-line method starting from the first day of month following the
one when the respective asset has been put into operation.
Accounts receivable
Accounts receivable are estimated in the balance sheet on the basis
of the amount due.
Cost of borrowings
Costs of attracting loans for major construction or procurement of
fixed assets are capitalized as part of the initial cost of the respective
fixed assets and are charged to expenditures throughout the
depreciable life of the asset.
Foreign exchange operations
Foreign currency and assets acquired for foreign currency,
receivables and payables are reported at the National Bank
exchange rate in effect on the business transaction date of regular
accounting.
Taxation
Taxable profit is calculated from the balance profit, which
is made up of the revenue from all telecommunications services,
other values (including fixed assets, inventories, intangibles,
securities) and revenues from nontrading transactions, less
expenses on the said transactions. The method applied for
calculation of revenue from services is a component part of the
Beltelecom accounting policy. In 2004, Beltelecom recognized
delivered services as the associated service bills had been paid.
Allocation to the budget for social
needs and extra –budgetary funds
Beltelecom makes allocations to the fund of social
protection of population and employment fund from its wages fund.
The allocations are charged against the period for which wages
have been calculated. All deductions are made in accordance with
the standards in effect in the reporting period.
Allocations to the budget for social
needs
and extra-budgetary funds
Beltelecom makes contributions to the fund for support of
agricultural food producers, agricultural science, highway fund;
purpose-oriented local budget funds for stabilization of agricultural and
food producers economics; to housing investment funds and living-space
unkeeping and repair funds, from products paid. Beltelecom makes
deductions to the innovation fund from the previous period products by
charging them against the cost and to the stabilization fund from
proceeds from accumulation of profit tax.
Thank you for your attention
http://www.beltelecom.by