COUNCIL REGULATION (EEC) No 2830/77  of 12 December 1977  on the measures necessary to achieve comparability between the accounting systems and annual accounts of railway undertakings
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community, and in particular Article 75 thereof,
Having regard to Council Decision 75/327/EEC of 20 May 1975 on the improvement of the situation of railway undertakings and the harmonization of rules governing financial relations between such undertakings and States (1), and in particular Article 8 (2) thereof,
Having regard to the proposal from the Commission,
Having regard to the opinion of the European Parliament (2),
Having regard to the opinion of the Economic and Social Committee (3),
Whereas the harmonization of rules concerning financial relations between States and railway undertakings should be based as far as possible on the financial and accounting principles applicable to industrial and commercial undertakings ; whereas this harmonization requires the implementation of the necessary measures to achieve comparability between the annual accounts of railway undertakings;
Whereas comparability of the annual accounts of railway undertakings should contribute towards improving the transparency of the financial results of such undertakings and of the financial interventions of the State;
Whereas comparability of these annual accounts may be established by transposing the annual results of railway undertakings to a standard form;
Whereas an advisory committee should be set up to assist the Commission in improving the comparability and the harmonization of the annual accounts of railway undertakings,
The aim of this Regulation is to make the annual accounts of railway undertakings comparable. For the purpose of this Regulation annual accounts shall mean the balance sheet and the profit and loss account drawn up in accordance with Articles 3 and 4.
This Regulation shall apply to the following railway undertakings:    - Société nationale des chemins de fer belges (SNCB)/Nationale Maatschappij der Belgische Spoorwegen (NMBS),
- Danske Statsbaner (DSB),
- Deutsche Bundesbahn (DB),
- Société nationale des chemins de fer français (SNCF),
- Coras Iompair Éireann (CIE),
- Azienda autonoma delle ferrovie dello Stato (FS),
- Société nationale des chemins de fer luxembourgeois (CFL),
- Naamloze Vennootschap Nederlandse Spoorwegen (NS),
- British Railways Board (BRB),
- Northern Ireland Railways Company Ltd (NIR).
Railway undertakings shall, each year taking effect for the first time for the accounting year 1977, transpose their annual results, established in accordance with national regulations, to the forms of annual accounts shown in Annexes I and III.
1. The balance sheet shall be transposed in accordance with Annex I on the basis of the elements of the nomenclature set out in Annex II.  (1)OJ No L 152, 12.6.1975, p. 3. (2)OJ No C 163, 11.7.1977, p. 33. (3)OJ No C 180, 28.7.1977, p. 34.
2. The profit and loss account transposed in accordance with Annex III shall be drawn up on the basis of the elements of the nomenclature set out in Annex IV.
3. Railway undertakings shall add explanatory notes to the transposed annual accounts. These notes shall indicate in particular:    - deviations from the nomenclature arising in drawing up the transposed accounts, as well as the reasons for such derogations, and possible repercussions which such derogations may have on the comparability of the transposed accounts;
- the methods of evaluation used for items the value of which is estimated, such as depreciation work in progress and fixed assets.
In order to achieve the objective of comparability referred to in Article 1 the Commission may ask for additional explanations.
1. Railway undertakings shall, within 12 months of the end of the accounting year in question, transmit to the Commission the transposed annual accounts referred to in Article 3.
2. Six months after receipt of the information provided for in paragraph 1, the Commission shall submit a synopsis of it to the Council.
1. An Advisory Committee shall be set up to assist the Commission in the implementation of this Regulation.
2. The Committee shall give its opinion on any question relating to the problems and solution connected with improving the comparability of the transposed annual accounts of railway undertakings and making progress towards greater harmonization of their accounting systems.
3. The Committee shall be chaired by a representative of the Commission and shall consist of two representatives designated by each Member State. The Members of the Committee may be assisted by experts designated by them. The Committee shall be convened by the Commission which shall provide the necessary secretarial services.
4. The Committee's conclusions shall be noted in the report which the Commission is to submit to the Council every two years pursuant to Article 14 (1) of Council Decision 75/327/EEC.
Before 1 January 1983 the Commission shall, in the light of experience gained and of accountancy developments in general and taking into account the opinion of the Committee, submit, where appropriate, proposals for amending this Regulation and the Annexes thereto with a view to improving the comparability of transposed annual accounts.
This Regulation shall be binding in its entirety and directly applicable in all Member States.