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Assets (mln. bel. rubles)Long-term assets _____________________1 885 430Intangibles assets ___________________ 3 439current assets:- inventories and expenditures________________ 118 045- cash _______________________ 21 726- receivables and other __________________ 161 432Total:assets ___________________________ 2 190 072
Liabilities (mln. bel. rubles)Internal funds ____________1 933 746Long-term obligations ___10 481Payables and other liabilities________________245 845Total: liabilities_________________________2 190 072
Financial statement from January 1, 2005 to January 1, 2006. (mln. bel. rubles)Gross income on sale ___________851 128Production and sale costs___________________ 721 971Profit on sales___________ 129 157Net profit on non-sale and other operations 7 342Balance 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 766Long leased fixed asset (depreciated cost)___________ 0Long-term investments _______6 609Equipment to be installed _________________ 6 398Incomplete capital constructions _____ 50 266Total:________________________________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 988Special-purpose funds ___________ 1 909 865Purpose-oriented credits and returns _____3 342Leases __________________0Reserve sources of internal funds ___2 551Losses born in previous years ___________ 0Accounting year losses____________________0Total: __________________________________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 350Accounts payable ___________________145 193Future income _________________97 659Other short-term liabilities _____________ 0Total: __________________________________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 loansfor major construction or procurement of fixed assetsare 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 needsand 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.
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