|
|
25 Feb 2005
BAE Systems will wait until the second quarter before releasing a reconciliation of its 2004 UK GAAP accounts with IFRS.
Link: The eigth annual FTSE350 audit fees survey
After announcing profits of £1.01bn before goodwill amortisation and interest, the group revealed a detailed analysis of how IFRS would impact on its financial accounts without going a step further and providing a full restatement of its 2004 figures.
According to BAE Systems, IFRS is going to affect several of its accounting policies.
The company is going to have to change the way it accounts for post retirement benefit schemes and alter its accounting for long term contracts. The group's derivative financial instruments are also going to have to be accounted for differently and it will be required to include how it handles guarantees on certain commercial aircraft in its consolidated accounts for the first time
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
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. 
Visitor comments Add your comment