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Transition to IFRSs in the retailing sector

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02 Dec 2005

We have posted On Your Marks–Get Set?, a booklet prepared by Deloitte & Touche LLP (United Kingdom) that identifies issues likely to arise as entities in the retailing sector make the transition to International Financial Reporting Standards.

Specific issues examined include segment reporting (IAS 14); revenue recognition (IAS 18); inventories (IAS 2); impairment of assets (IAS 36); property, plant, and equipment (IAS 16); and goodwill and intangible assets (IFRS 3 and IAS 38). The booklet also summarises the results of a 2004 Deloitte benchmarking study of retailing groups to identify just how ready the retailing sector was to make the transition to IFRSs. Click to download:

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