Annual Report 2019-2020

46 E F L I N G A N N U A L R E P O R T 2 0 1 9 – 2 0 2 0 2. ACCOUNTING POLICIES (FRAMHALD) Financial assets Securities, other than shares, listed on a regulated securities market are capitalized on market prices at year end, which is considered to be the price on the last registration date of the year. Other securities are recognized as an asset based on their yield on the purchase date. Shares are capitalized at the original purchase price. Union fees receivables Union fees receivables are stated at nominal value. Trade payables Trade payables are valued at normal value and accounts payable in other currencies have been booked at the exchange rates prevailing on the balance sheet date. 3. OTHER INCOME 2019 2018 Rental income .............................................................................................................................. 35,978,209 36,086,1 2 1 Commission from Virk ................................................................................................................. 79,675,1 1 5 91,02 1,032 Gain on sale on assets ........................................................................................................... 0 17,1 24,232 115,653,324 144,23 1,385 4. SALARIES AND RELATED EXPENSES 2019 2018 Salaries................................................................................................................................................. 467,868,372 378,319,548 Pension fund ............................................................................................................................. 65,251,904 51,44 1,442 Other salary-related expenses.................................................................................................. 43,948,503 35,930,536 Other employee expenses................................................................................................. 7,31 8,339 7,089,739 584,387,1 1 8 472,78 1,265 Average number of positions........................................................................................... 50 42