Basis of preparation
- Significant accounting policies
- Change in accounting policy
- Seasonality of operations
Basis of preparation
The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.
The consolidated financial statements were prepared in accordance with International Accounting Standard IAS 34 Interim Financial Reporting (“IAS 34”).
The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group´s annual financial statements as at 31 December 2009.
The amounts shown in these consolidated financial statements are presented in millions Czech Crowns (“CZK”), if not stated otherwise.
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Significant accounting policies
The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the consolidated annual financial statements for the year ended 31 December 2009.
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Change in accounting policy
No significant changes in accounting policies were applied in the interim period of 2010 and 2009.
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Seasonality of operations
There is no seasonal nature either in fixed line segment or mobile telecommunication segment. Telecommunication business of the Group is not regarded as highly seasonal.