3. Summary of significant accounting policies
Major accounting policies and estimates and judgements applied in the preparation of these consolidated financial statements are presented in the notes and below. These policies were applied consistently in all the years presented, with the exception of the changes which followed from the implementation of IFRS 9 “Financial Instruments” and IFRS 15 “Revenue from Contracts with Customers” which are described in Notes 4 and 5 and in the notes to the consolidated income statement and to the consolidated statement of financial position. Below is a summary of accounting policies and major estimates and judgements for the individual items of the consolidated income statement and the consolidated statement of financial position.