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Financial Statements
83
annual report
2013
Employee Benefits
All employee benefits are accounted as current ones according to IAS 19.
In the course of economic activities, the Company shall pay obligatory payments to the State Pension fund for its em-
ployees in the amount stipulated by Laws of Ukraine.
Recognition of Incomes and Expenses
Incomes of the Company are recognized on the accrual basis when it is probable that economic benefits will increase
as a result of transaction, and when the income can be measured reliably.
Income arising from the sale of goods is recognized when the seller has actually transferred to the buyer significant risks,
benefits and control over assets (the goods are shipped and ownership is transferred), and when all recognition crite-
ria of the income have been satisfied according to IAS 18.
When the Company renders services and performs works under the contract during agreed time, income is recognized
in the accounting period in which the services are rendered, and is calculated based on total value of the contract or the
completed stage. Acceptance Report signed by the both Parties is documentary evidence that the customer has ac-
cepted results of performed works and rendered services.
Interest income is recognized in the period which it refers to on the accrual basis.
Dividend income is recognized when the shareholder's right to receive payment is established.
Sales of Goods, Products, Work, Services (thous. UAH)
Item
2013
Sales of goods, products, work, services
- of production and repairing of aircraft engines
7 167 537
- of production and repairing of general-purpose technical products
449 258
- of production of consumer goods
39 975
- of other goods, products, work, services
291 177
Total
7 947 947