204,- is reversed under financial income. The financial statements, which have been presented in compliance with the Norwegian Companies Act, the Norwegian Accounting Act and Norwegian generally accepted accounting principles in effect as of 31 December 1999, consist of the profit and loss account, balance sheet, cash flow statement and notes to the accounts. The necessary specification has been provided in notes to the accounts, thus making the notes an integrated part of the financial statements. The financial statements have been prepared based on the fundamental principles governing historical cost accounting, comparability, contin- ued operations, congruence and caution.
Income is recognised at the time goods are delivered or services sold.
Costs are expensed in the same period as the income to which they relate. Costs that cannot be directly related to income are expensed as incurred. Contingent losses which are probable and quan- tifiable are taken to cost. Costs that cannot be directly related to income are expensed as incurred. Assets are capitalised when the economic useful life is more than 3 years, and the cost is greater than NoK 15 000.