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| Author: | Aisbitt, S. |
| Title: | Assessing the effect of the transition to IFRS on equity: The case of the FTSE 100 |
| Journal: | Accounting in Europe
2006 : VOL. 3, p. 117-133 |
| Index terms: | accounting standards regulations companies United Kingdom |
| Language: | eng |
| Abstract: | This paper presents the results of an analysis of the reconciliations of equity presented as part of the transition from U.K. Generally Accepted Accounting Principles (UK GAAP) to International Financial Reporting Standards (IFRS) by the largest U.K. companies. While the overall effect on equity is not significant, the effect of the change in convention on individual line items could have important consequences for financial analysis and contractual obligations. The level of variability btw. companies means that this change will demand attention to detail by users of financial statements. The paper provides a benchmark for comparison with companies from other accounting traditions making the transition to IFRS. |
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