Send us Feedback

Imperial Chemical Industries (ICI)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

ICI » Topics » International Financial Reporting Standards

This excerpt taken from the ICI 6-K filed Mar 16, 2005.
International Financial Reporting Standards
The Company will implement International Financial Reporting Standards (IFRS) for Group financial reporting with effect from 1 January 2005. The transition date for adoption of IFRS has been determined, in accordance with IFRS 1, as 1 January 2004 (subject to finalisation of a proposed Securities Exchange Commission rule on the exemption from provision of a second year of IFRS comparatives). The Group’s approach to this transition together with the principal differences between UK GAAP and IFRS and their effect are set out on page 122.

As regards the financial statements of the parent company, for the year to 31 December 2005, which comprise the balance sheet published with the consolidated financial statements and the profit and loss account which is presented to the Board of Directors in accordance with section 230 of the Companies Act 1985, it is the Company’s intention that these will continue to be prepared in accordance with UK GAAP. The only new UK Accounting Standards currently in issue which will materially affect future financial statements of the Company are FRS 17

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki