VAT number: 19316389-1-20 (EU: HU 19316389)

Valuation Policy

ADRIA INTERCULTURAL ASSOCIATION

  • Date: Hollókő, 2021 december 18., updated on 16.10.2024.
    • Enacted on behalf of the Association: drs. Éva Lilla Kronauer, chairwoman
  1. PURPOSE OF PREPARING THE REGULATIONS

COINTAINS

The purpose of preparing the valuation regulations is to determine the valuation principles and methods by which the ADRIA Intercultural Association the balance sheet value of its assets and liabilities

  1. General rule for valuation of assets in the balance sheet
  2. Procedure for the registration of tangible assets, securities and stocks acquired at the same time, belonging to the same purchase price, with the same parameters and used at the same time
  3. Cost of assets
  4. Valuation of assets received free of charge (without obligation to return) or assets received as gifts or bequests, surplus assets
  5. Cost of an asset acquired in exchange
  6. General rule for valuation of liabilities in the balance sheet
  7. Evaluation of Liabilities Contained in the Balance-sheet
  8. VALUATION RULES

1. General rules for the valuation of assets in the balance sheet

(3) Assets and liabilities shall be controlled and evaluated item by item through stocktaking and reconciliation. The ADRIA Intercultural Association at the average purchase price of assets with the same parameters that are acquired at different times, usually recorded in groups to evaluation is used.

  • Procedure for the registration of tangible assets, securities and stocks acquired at the same time, belonging to the same purchase price, with the same parameters and used at the same time

Simultaneously purchased, at the same purchase price, with the same parameters, used at the same time

  • tangible assets,
  • securities,
  • stocks

it can also be recorded in groups.

In the case of grouped assets, the valuation shall be performed separately for each group. Group valuation may be applied until there is a separate change in the carrying amount of the individual asset.

3. Cost (acquisition, production) of the asset (groups)

Fixed assets and current assets must be valued at cost.

3.1. Date of settlement of items included in cost

Items that are part of the cost value are taken into account in the invoiced amount when they occur, when the economic event occurs (at the latest when they are put into operation).

3.2. Cost of forint funds

The cost of HUF funds is the amount of HUF paid and credited.

4. Valuation of assets received free of charge (without obligation to return) or assets received as gifts or bequests

The acquisition (purchase) value of assets received without payment (without the obligation to return them) or assets received as gifts or bequests – unless otherwise provided by law – is the market and turnover value of the assets known at the time of taking them into stock. The market value must be documented.

5. The cost of an asset acquired in exchange.

The cost of an asset acquired in exchange is the value of the asset under the exchange contract, the selling price of the asset given in exchange.

6. General rules for the valuation of resources in the balance sheet

On the balance sheet

  • equity,
  • the obligation
  • accruals and deferrals

shall be carried at book value.

7. Valuation of each liability in the balance sheet

The balance sheet shall show the initial value of the assets, the retained earnings, the source of the value adjustment of the assets and the profit or loss in the balance sheet within equity.

This Regulation shall enter into force on 18 December 2021.