|as at 31 December 2017||as at 31 December 2016|
|Uninvoiced cost of contracts||27 171||12 697|
|Annual bonuses||8 829||9 731|
|Unused holidays||6 069||5 440|
|Disputed employee claims *||2 000||2 000|
|Losses on contracts **||1 512||1 299|
|Accrued expenses||46 026||31 167|
File in XLSX format
Accrued expenses plik .xlsx11,3 kB
*Details of the created provision for disputed employee claims are presented in Note 42 to these consolidated financial statements.
** Following the adopted accounting principles, the Group creates provisions for losses on contracts, if the budgeted expenses exceed total revenue from a contract.
Completion of contractual works relating to the contract for “Extension and modernization of Skawina 220/110kV electrical substation including connection to 2x2x400kV line” performed for Polskie Sieci Elektroenergetyczne S.A. has been postponed until October 2019 under the contract amendment signed in March 2018. The Amendment does not change the scope of contract or its price. Because of the extension of deadline for completion and the necessity to perform the selected scopes in another way than initially planned, the estimated total costs of the contract performance have increased. Therefore, in the 2017 financial result the Management of the parent company recognized a loss on this contract.
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