Day, J.; Ormrod, P. and Taylor, P.
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Considers the potential implications for banks and financial institutions of EC requirements that all companies with listed debt or equity securities adopt international financial reporting standards (IFRS) from January 1, 2005. Examines the likely effects of modified accounting measurement bases on balance sheet based debt covenants and financial statements, including their treatment of preference shares, dividends, employee remuneration and financial instruments. Presents a two page table detailing: (1) key differences between the UK's Generally Accepted Accounting Principles and the IFRS; and (2) the consequences for covenants.
|Item Type:||Journal Article|
|Keywords:||Accounting standards; Corporate finance; Debts; EC law; Financial reporting; Loans; Securities|
|Academic Unit/Department:||Open University Business School|
|Depositing User:||Users 12 not found.|
|Date Deposited:||01 Jun 2006|
|Last Modified:||02 Dec 2010 19:46|
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