Impact of the international accounting standards on the standard by v5rXH5

VIEWS: 0 PAGES: 9

									  Impact of the international
  accounting standards on the
standard format of the Belgian
        annual accounts

      Eurostat, Luxemburg, 22 September 2003
                   Saskia Vennix
          Useful real case
  Barco's Annex to the Report 1st
    Half 2003 : change to IFRS


http://www.barco.com/investors/en/downloads/
       Impact of IAS/IFRS on Belgian
           questionnaire : general

• Additional statements :
   – cash flow statement
   – statement of changes in equity
• What about our social balance sheet ?
• Current/non-current presentation of the balance
  sheet  consequences for the liability-side :
   – provisions
   – deferred tax liabilities
   Impact of IAS/IFRS on Belgian
questionnaire : valuation of inventories

      IAS/IFRS                      BEGAAP
purchase costs + all        permissible to omit all
direct    and   indirect    or     some     of    the
production costs + costs    (indirect)      overhead
for bringing inventories    costs      (precautionary
to current location or      principle)
condition
Impact on Barco's net equity per Dec 31, 2002 :
                +8,031 K € or +2.38%
    Impact of IAS/IFRS on Belgian
     questionnaire : capital grants

      IAS/IFRS                       BEGAAP
either presented as         presented as part of
deferred   income   or      the       equity,  after
deducted from the book      deduction       of   the
value of the related        corresponding        tax
asset                       liability

Impact on Barco's net equity per Dec 31, 2002 :
               -3,144 K € or -0.93%
    Impact of IAS/IFRS on Belgian
     questionnaire : deferred taxes

     IAS/IFRS                         BEGAAP
both    deferred       tax   only      deferred    tax
assets and liabilities are   liabilities are accounted
recognised                   for



Impact on Barco's net equity per Dec 31, 2002 :
                 +7,800 K € or +2.32%
   Impact of IAS/IFRS on Belgian
questionnaire : appropriation of results

      IAS/IFRS                     BEGAAP
the balance sheet is         the balance sheet is
drawn up before the         drawn up after the
appropriation of the        appropriation of the
profit/loss of the year     profit/loss of the year


Impact on Barco's net equity per Dec 31, 2002 :
               +23,831 K € or +7.07%
        Impact of IAS/IFRS on Belgian
         questionnaire : miscellaneous


•   Research and development costs
•   Treasury shares
•   Provisions for major repairs and maintenance
•   Construction contracts
•   Extraordinary income/expenses
•   ...
        Impact of IAS/IFRS on Belgian
          questionnaire : conclusion

Impact on :
   – balance sheet items (inventories, capital grants,...)
   – P&L items (extraordinary income/expenses, research
     costs,...)
   – additional disclosures are required (construction
     contracts,...)
 participation of the belgian CSBO in WGIII to create
  a new "format" (cfr. presentation of Manuel Ortega and Camille
  Dümm)

								
To top