ING Direct 2011 Annual Report Download - page 291

BASIS OF PRESENTATION
The parent company accounts of ING Group are prepared in accordance with the financial reporting requirements included in Part 9 of
Book 2, of the Dutch Civil Code. The accounting policies applicable to presentation and disclosures are in accordance with the financial
reporting requirements included in Part 9 of Book 2, of the Dutch Civil Code. The principles of valuation and determination of results
stated in connection with the consolidated balance sheet and profit and loss account are also applicable to the parent company balance
sheet and profit and loss account with the exception of Investments in group companies and investments in associates which are
recognised at net asset value with goodwill, if any, recorded under intangible assets.
The profit and loss account is drawn up in accordance with Section 402, Book 2, of the Dutch Civil Code.
A list containing the information referred to in Section 379 (1), Book 2, of the Dutch Civil Code has been filed with the office of the
Commercial Register of Amsterdam, in accordance with Section 379 (5), Book 2, of the Dutch Civil Code.
Changes in balance sheet values due to changes in the Revaluation reserve of the associates are reflected in the Share of associates
reserve, which forms part of Shareholders’ equity. Changes in balance sheet values due to the results of these associates, accounted
for in accordance with ING Group accounting policies, are included in the profit and loss account. Other changes in the balance sheet
value of these associates, other than those due to changes in share capital, are included in Share of associates reserve in Other reserves.
A legal reserve is carried at an amount equal to the share in the results of associates since their first inclusion at net asset value less the
amount of profit distributions to which rights have accrued in the interim. Profit distributions which can be repatriated to the Netherlands
without restriction are likewise deducted from the Share of associates reserve.
The comparative amounts for 2010 are restated for the change in accounting policy as disclosed in the section ‘Changes in accounting
policies’ in the Accounting principles for the consolidated annual accounts.
Accounting policies for the parent company
annual accounts of ING Group
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information
289ING Group Annual Report 2011