General accounting  policies CHANGED ACCOUNTING POLICIES  AND PRESENTATION OF THE ANNUAL  REPORT 2013  CONSOLIDATED FINANCIAL STATEMENTS Consolidated financial statements SECTION 9: BASIS FOR PREPARATION 131 Carlsberg Group Annual Report 2013 The 2013 consolidated financial statements  of the Carlsberg Group have been prepared  in accordance with International Financial  Reporting Standards (IFRS) as adopted by  the EU and Danish disclosure requirements  for listed companies, cf. the statutory order  pursuant to the Danish Financial State- ments Act. The consolidated financial statements are  presented in Danish kroner (DKK), which is  the Parent Company’s functional currency. tion provided. The comparative figures have  been restated accordingly.  Apart from the implementation of the  amended IAS 19 “Employee Benefits”, the  Annual Report has been prepared using  the same accounting policies for recogni- tion and measurement as those applied to  the consolidated financial statements for  2012. The amended standard has changed  the recognition of the expected return on  pension plan assets. Under the changed  accounting policy applicable from 1 January  2013, the expected return on plan assets is  calculated on the basis of the discount rate  used to measure retirement benefit obliga- tions, whereas previously the return was  based on the expected return on the specific  plan assets. The change did not have any  significant impact on the Annual Report. The consolidated financial statements  have been prepared on the historical cost  basis except for the following assets and  liabilities measured at fair value: derivative  financial instruments, financial instruments  in the trading portfolio and financial instru- ments classified as available-for-sale.  Non-current assets and disposal groups  classified as held for sale are measured at  the lower of the carrying amount before the  changed classification and fair value less  costs to sell. The presentation format has been changed  for the Annual Report 2013, resulting in minor  changes to the classification of elements in  the financial statements. Furthermore, the  structure of the explanatory notes has been  changed significantly to improve the informa- IFRS 13 “Fair Value Measurement” and the  amendments to IAS 1 “Other Comprehensive  Income”, IFRS 7 “Disclosures – Offsetting  Financial Assets and Financial Liabilities”  and IAS 32 “Offsetting Financial Assets  and Financial Liabilities”, and the “Annual  Improvements to IFRSs 2009-2011” have  been implemented from 1 January 2013. The  new and amended standards have changed  the presentation of other comprehensive  Furthermore, the Carlsberg Group has  changed the presentation of listing fees  in Russia as of 1 January 2013. Following  changes in Russian marketing regulation, the  nature of the cooperation with and services  provided by retailers has changed. Specific  listing fees closely related to the sale of beer  are therefore now presented as discounts  that reduce net revenue. Listing fees in Russia  were previously included in sales and distri- bution expenses in line with the main nature  of the activities. Comparative figures for 2012  have been restated accordingly. income. The changes did not have any significant impact on the Annual Report. The accounting policies set out below have  been used consistently in respect of the  financial year and the comparative figures. The consolidated financial statements comprise  the Parent Company, Carlsberg A/S, and sub- sidiaries in which Carlsberg A/S has control, i.e.  the power to govern the financial and operat- ing policies. Control is obtained when Carlsberg  A/S directly or indirectly owns or controls more  than 50% of the voting rights in the subsidiary  or has control in some other way. Entities over which the Group exercises a  significant influence, but which it does not  control, are considered associates. Significant  influence is generally obtained by direct or  indirect ownership or control of more than  20% but less than 50% of the voting rights.  When assessing whether Carlsberg A/S exer- cises control or significant influence, potential  voting rights exercisable at the end of the  reporting period are taken into account.