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(From Financial Director)
National accounting standards now probably rank as the biggest administrative headache for FDs of quoted companies. The transition from an old, familiar rule book to one that hasn't even been finished yet is causing a certain amount of difficulty - and a great drain on resources - for even the largest quoted companies. Most effort is going into finding out what the rules actually are and how they will affect the reported profit & loss, balance sheet and cash-flow numbers.
But that's just the tip of the iceberg. While most companies have at least started to look at how their reported financials will be affected by IASs - and the ...