Accounting Principles
The Parent Company, Trelleborg AB (publ) is a limited-liability company with its registered office in Trelleborg, Sweden.
The Trelleborg Group’s financial statements have been prepared in accordance with the Swedish Annual Accounts Act, the Swedish Financial Accounting Standards Council’s recommendation RR 30, Supplementary Accounting Regulations for Groups, and International Financial Reporting Standards (IFRS), as approved by the EU. The Group’s financial statements have been prepared in accordance with the cost method, except for in relation to financial assets available for sale, financial assets and liabilities (including derivatives) valued at fair value via the income statement.
In the Group’s multi-year summary, data up to and including 2003 was not prepared in accordance with IFRS, but is recorded in accordance with earlier Generally Accepted Accounting Principles in Sweden.
The Parent Company applies the same accounting policies as the Group, except in the instances stated below under “Parent Company’s accounting policies.” The differences that arise between the Parent Company and the Group’s accounting policies are attributable to the limited opportunities for the application of IFRS in the Parent Company, primarily as a result of the Swedish Annual Accounts Act.
Trelleborg's accounting and valuation policies from Annual Report 2007 (pdf)
Read more on IFRS on International Accounting Standards Board's web site:
www.iasb.org