For listed companies at least, reporting group results under UK GAAP is now a distant memory. With the first wave of AIM companies' consolidated annual reports presented under International Financial Reporting Standards having been recently published, one might expect that by now financial reporting under IFRS for UK companies would have become almost second nature. But, as always with IFRS, the devil is in the detail. Even in areas where, initially at least, there appear to be limited differences between IFRS and UK GAAP, some of the more subtle requirements of IFRS are potentially being overlooked.
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