REGULATIONS CONCERNING TERMINOLOGY, FORMS AND METHODS OF PREPARATION OF FINANCIAL STATEMENTS, ETC. Copyright Roderick Seeman

Article 49 Indication of Classifications of Current Liabilities

1. Liabilities which come under current liabilities must be entered as a subject to which is attached a name showing the said liability, in accord with the classification of items listed hereunder.

However, concerning accrued taxes, accrued dividends, and unredeemed bonds the term for which has expired, the monetary value of which exceeds 1% of total liabilities and capital, they must be entered separately via a title to which is attached a name showing the said liability.

i. Notes payable trade

ii. Accounts payable trade.

iii. Short term loans payable (including financial notes and callable overdrafts. Hereinafter the same). However, excluding short term loans from shareholders, executives or employees.

iv. Accounts payable other.

v. Accrued expenses.

vi. Advances received.

vii. Deposits received. However, excluding deposits from shareholders, executives or employees.

viii. Deferred income

ix. Reserves

x. Others.

2. The provisions of the previous Paragraph concerning matters deemed suitable for entry separately from the headings listed in each of the items of the previous Paragraph, do not bar entries separately with headings bearing names showing the said liabilities.

3. The liability reserves of Item ix of Paragraph 1 must be entered with headings bearing names showing the reserve for repairs or the objective of establishment of the other said reserves.