Accounting statistics for non-financial limited companies, 2004

Operating expenses constituted NOK 2 450 billions of expenses, financial expenses constituted NOK 146 billions, while extraordinary expenses amount to NOK 2 billions. The total amount of expenses constituted to almost NOK 2600 billion.

Operating expenses increased

Operating expenses are expenses less financial expenses. They arise from the companies’ ordinary operations. From 2003 to 2004, they increased by over 10 per cent. They are made up of raw materials and consumables used, payroll expenses, depreciation and write down of tangible and intangible fixed assets and other expenses like subcontracts, costs of premises, sales and advertising costs. Raw materials and consumables used made up over 50 per cent, payroll expenses 18 per cent, depreciation and write down of tangible and intangible fixed assets 5 per cent, while other expenses constituted 23 per cent.

Financial expenses decreased

Whereas operating expenses increased, financial expenses decreased from 2003 to 2004. Interest expenses comprised almost 50 per cent, while write-down of financial assets made up about 8 per cent of financial expenses in 2004. About 41 per cent of financial expenses are classified as “other financial assets”, a category which includes, among others, losses in daughter companies, value changes and foreign exchange losses. But the biggest values in this category are costs that are not specified.

About the statistical basis

The statistics are based on tax questionnaires on accounting from a sample of 118 695 non-financial limited companies. The tax questionnaire documents revenues, expenses, liabilities and equity for the purposes of tax assessment. The tax questionnaire covers not consolidated, but company accounts. The tax questionnaire shows the accounting values and aggregates based on accounting and tax legislation. The values do not necessarily give a good picture of the real or market value of the assets

There have been classificatory changes in industry codes from 2003 to 2004, and this may affect comparability across industries between the two years. The changes in the classification of industries have affected the balance sheet more than the income statement.

Tables:

• Table 1 Selected accounting figures, income statement. 2000-2004. NOK million
• Table 2 Selected accounting figures. Balance sheet. 2000-2004. NOK million