Repower - Annual Report 2018

2 Correction of accounting errors and changes in presentation

In 2019 Repower corrected an accounting error. Accruals and deferrals for goods and services delivered or received but not yet invoiced, previously recognised in trade accounts receivable and payable, are now recognised in prepaid expenses and accrued income/deferred income and accrued expenses. In making this change, Repower is adhering to the minimum format recommended in Swiss GAAP FER 3 Presentation and format. According to the Swiss GAAP FER Framework, the prior year figures affected must be restated. The consequences are as follows:

	2018	Restatement	2018 Restated
CHF thousands

Impact on the consolidated balance sheet

Assets
Trade accounts receivable	324,354	–275,493	48,861
Prepaid expenses and accrued income	3,674	275,493	279,167

Liabilities and shareholders' equity
Trade accounts payable	323,990	–255,060	68,930
Deferred income and accrued expenses	16,711	255,060	271,771

There are reclassifications within current assets and current liabilities.

	2018	Restatement	2018 Restated
CHF thousands

Impact on the consolidated cash flow statement

Changes
Trade accounts receivable	54,182	–29,171	25,011
Prepaid expenses and accrued income	–988	29,171	28,183
Trade accounts payable	–50,229	44,442	–5,787
Deferred income and accrued expenses	33	–44,442	–44,409

Cash flow from operating activities remains unchanged.