LensCrafters 2015 Annual Report Download - page 96

Notes to the consolidated financial statement as of December 31, 2015 Page 2 di 68
These consolidated financial statements were authorized to be issued by the Board of Directors of the Company at its meeting
on March 1, 2016.
BASIS OF PREPARATION
The consolidated financial statements as of December 31, 2015 have been prepared in accordance with the International
Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) as of the date of
approval of these consolidated financial statements by the Board of Directors of the Company.
IFRS are all the international accounting standards (“IAS”) and all the interpretations of the International Financial Reporting
Interpretations Committee (“IFRIC”), previously named the Standing Interpretation Committee (“SIC”).
The principles and standards utilized in preparing these consolidated financial statements have been consistently applied
through all periods presented.
These consolidated financial statements are composed of a consolidated statement of income, a consolidated statement of
comprehensive income, a consolidated statement of financial position, a consolidated statement of cash flows, a consolidated
statement of changes in equity and related notes to the Consolidated Financial Statements.
The Company’s reporting currency for the presentation of the consolidated financial statements is the Euro. Unless otherwise
specified, the figures in the statements and within these Notes to the Consolidated Financial Statements are expressed in
thousands of Euro.
The Company presents its consolidated statement of income using the function of expense method. The Company presents
current and non-current assets and current and non-current liabilities as separate classifications in its consolidated statements of
financial position. This presentation of the consolidated statement of income and of the consolidated statement of financial
position is believed to provide the most relevant information. The consolidated statement of cash flows was prepared and
presented utilizing the indirect method.
The financial statements were prepared using the historical cost convention, with the exception of certain financial assets and
liabilities for which measurement at fair value is required.
The consolidated financial statements have been prepared on a going concern basis. Management believes that there are no
financial or other indicators presenting material uncertainties that may cast significant doubt upon the Group’s ability to meet
its obligations in the foreseeable future and in particular in the next 12 months.