Link: The great FRS 17 debate
The controversial pension accounting standard, combined with what BAA called ‘significant investment’ in its operation base, reduced profits by £54m for the year ending 31 March 2004.
Under FRS 17, pension assets and liabilities must be accounted for on the balance sheet.
The standard will become a mandatory in 2005, but many companies have already begun to phase it in.
BAA also announced that Tony Ball, the former chief executive of BSkyB, has been appointed as a non-executive director.
BAA will open Terminal 5 at Heathrow in 2008 increasing capacity at the UK’s biggest airport by 50%.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements