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ICI » Topics » (l) Inventory provisions

These excerpts taken from the ICI 6-K filed Mar 21, 2007.
(k) Inventory provisions
Under IFRS, reversals of inventory write-downs arose for reasons including product reformulations and movements in market value. Under US GAAP, such reversals are not allowed and as a result a reconciling difference for 2006 for £3m credit (2005 £7m charge) has been included with the income reconciliation within the line item of “Inventory provisions”.

(l) Inventory provisions
Under IFRS, reversals of inventory write-downs arose for reasons including product reformulations and movements in market value. Under US GAAP, such reversals are not allowed and as a result a reconciling difference for 2006 for £3m credit (2005 £7m charge; 2004 £nil) has been included with the income reconciliation within the line item of “Inventory provisions”.

EXCERPTS ON THIS PAGE:

6-K (2 sections)
Mar 21, 2007

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