Note 1. Summary of significant accounting policies
Significant Accounting Policies - For establishing the principles for the recognition and measurement of assets and liabilities and determination of the result for its Company annual accounts, ASMI makes use of the option provided in Section 362, Part 9, of Book 2 of the Dutch Civil Code. This means that the principles for the recognition and measurement of assets and liabilities and determination of the result (hereinafter referred to as principles for recognition and measurement) of the Company Financial statements of are the same as those applied for the Consolidated annual accounts (see Note 1 of the Consolidated annual accounts). The Consolidated annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union.
Investments in subsidiaries are stated at net asset value as we effectively exercise significant influence over the operational and financial activities of these investments. The net asset value is determined on the basis of the IFRS accounting principles applied by ASMI.