RBS 2013 Annual Report Download - page 103
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Presentation of information
101
In the Report and Accounts, and unless specified otherwise, the term
‘company’ or ‘RBSG’ means The Royal Bank of Scotland Group plc,
‘RBS’, ‘RBS Group’ or the ‘Group’ means the company and its
subsidiaries, ‘the Royal Bank’ or ‘RBS plc’ means The Royal Bank of
Scotland plc and ‘NatWest’ means National Westminster Bank Plc.
The company publishes its financial statements in pounds sterling (‘£’ or
‘sterling’). The abbreviations ‘£m’ and ‘£bn’ represent millions and
thousands of millions of pounds sterling, respectively, and references to
‘pence’ represent pence in the United Kingdom (‘UK’). Reference to
‘dollars’ or ‘$’ are to United States of America (‘US’) dollars. The
abbreviations ‘$m’ and ‘$bn’ represent millions and thousands of millions
of dollars, respectively, and references to ‘cents’ represent cents in the
US. The abbreviation ‘€’ represents the ‘euro’, the European single
currency, and the abbreviations ‘€m’ and ‘€bn’ represent millions and
thousands of millions of euros, respectively.
The geographic analysis in the Business Review, including the average
balance sheet and interest rates, changes in net interest income and
average interest rates, yields, spreads and margins in this report have
generally been compiled on the basis of location of office - UK and
overseas – unless indicated otherwise. ‘UK’ in this context includes
transactions conducted through the offices in the UK which service
international banking transactions.
The results, assets and liabilities of individual business units are
classified as trading or non-trading based on their predominant activity.
Although this method may result in some non-trading activity being
classified as trading, and vice versa, the Group believes that any
resulting misclassification is not material.
International Financial Reporting Standards
As required by the Companies Act 2006 and Article 4 of the European
Union IAS Regulation, the consolidated financial statements of the Group
are prepared in accordance with International Financial Reporting
Standards issued by the International Accounting Standards Board
(IASB) and interpretations issued by the IFRS Interpretations Committee
of the IASB as adopted by the European Union (together ‘IFRS’). They
also comply with IFRS as issued by the IASB.