Page 71 - Operation Lifesaver Estonia Annual Report 2011

Railway Safety in Estonia - 69 - Annual Report 2011
Note 1: Accounting principles
Note 2: Tax prepayments and liabilities
,Q (XURV ¬
31.12.2011 31.12.2010
Tax liabilities Tax liabilities
Personal income tax 962 995
Social tax 1 684 1 730
Contributions to mandatory funded pension 92 74
Unemployment insurance tax 213 215
Total tax prepayments and liabilities 2 951 3 014
General information
The annual accounts for 2011 have been prepared
in accordance with the Estonian Good Accounting
Practices, using the historical cost principle. The main
requirements of the good accounting practices are set
forth in the Accounting Act endorsed 20 November 2002
and respective regulations of the Estonian Government
and Minister of Finance that are supplemented by the
accounting manuals issued by the Estonian Accounting
Standards Board.
In course of preparing the annual accounts, the non-
profit organisation is treated as an organisation pursuing
its activities and the accounting has used continuously
same accounting methods, evaluation criteria, reporting
methods and reporting schemes.
The annual accounts are prepared on the basis of the
manuals of the Estonian Accounting Standards Board RTJ-
14 (“Non-profit organisations and foundations”) and RTJ-
12 (“Government aid”). Income from members is recorded
in the period for which they were paid.
Targeted financing is recorded as revenue in periods
when occur the costs for which the targeted financing is
earmarked.
The non-current assets acquired for targeted financing
are recorded using the gross method described in
RTJ-12 and -17. Non-current assets are recorded at
acquisition value, depreciation is recorded linearly with
the depreciation rate of 20% per annum. The principle
that the costs of the NPO must be related to its statutory
purposes has been strictly followed. The profit and
revenues are not distributed between the members of the
NPO.
The annual accounts are prepared in Euros.