| Publisher | Cartesis | ||
|---|---|---|---|
| Format | 171.7KB PDF | Date added | 01 Jan 2003 |
| Topics | Finance, Accounting Applications | ||
| Downloads | 173 | ||
In June of 2002, the EU adopted a regulation that requires all listed European companies to prepare their consolidated accounts for financial years commencing on or after 1 January 2005 under International Accounting Standards. Subsidiaries of listed companies will therefore also need to prepare IAS accounts for consolidation purposes. The move to IAS represents the most significant change for organisations' accounting functions, and the way businesses present their accounts, since the introduction of the Companies Act 1985. Reporting under International Accounting Standards will require companies to make changes to accounting policies, the type and level of detail of information disclosed and the format in which financial statements are presented.
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