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13 Jul 2004
First-quarter net income for 2004 has been re-adjusted to $4.7bn from $4.43bn because of changes in the accounting of inventories.
The changes, which were a follow-through from the adjustments in its 2003 accounts, were done to mainly reflect the cut in its oil and gas reserves.
In May this year, Shell cut its estimates of oil barrel reserves by more than 4 billion barrels, leading to the resignation of senior executives.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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