Scandic

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Scandic Europa, Gothenburg, SwedenScandic Europa, Gothenburg, Sweden

Accounting principles

The Group applies International Financial Reporting Standards, IFRS, as endorsed by the EU.

The Parent Company applies the Annual Accounts Act and RFR 2 Accounting for legal entities, which means that IFRS is applied with certain exceptions and additions.

From January 1, 2019 IFRS 16 Leases replaced, which means that almost all of the Group's leasing contracts are reported in the balance sheet, as no distinction is made between operational and financial leasing agreements.