This excerpt taken from the BP 6-K filed Sep 7, 2005.
Other non-financial contracts no longer at fair value
Certain non-financial contracts held for trading purposes are marked to market under UK GAAP. However, under IFRS they will no longer be able to be recorded at fair value as they do not meet the definition of financial assets or financial liabilities. These contracts will be accounted for on an accruals basis.
Increase (decrease) in caption heading