Accounting policies

The annual financial statements of subsidiaries and special purpose entities included in the Group are governed by uniform accounting policies, the application of which is based on the principle of consistency. In the following we will describe the accounting policies applied, any amendments made to accounting policies in 2013 and major discretionary decisions and estimates. Newly applicable accounting standards in the 2013 financial year are described in the section “General accounting principles and application of International Financial Reporting Standards (IFRS)”, while consolidation principles are discussed in the section “Consolidation”.