Cloud and software revenue grew 11 percent year-on-year to pound 5.49 billion (IFRS
), or more than 11 percent (non-IFRS) and 8 percent (non-IFRS at constant currencies).
Cloud revenue grew 45% year over year to [euro]1.56 billion (IFRS
), up 48% (non-IFRS) and 41% (non-IFRS at constant currencies).
The new reporting standard under IFRS
17 will undoubtedly be a significant change for accounting requirements.
17 provides unified standards for accounting of all insurance contracts including reinsurance contracts, allowing comparability for the benefit of investors and insurers.
However, even with the progress many insurers have made, major hurdles remain in making IFRS
17 and IFRS
Research by Moqbel, Charoensukmongkol, and Bakay (2013) has also suggested that, regardless of whether IFRS
has been adopted by the SEC, accountants must be able to understand cross-border business transactions and interpret the financial statements of multinational companies.
is being used by at least 120 countries, such as the European Union and many countries in Asia and South America.
GAAP.That makes IFRS
the accepted standard for SEC reporting for more than 450 international companies such as Unilever, a British-Dutch multinational consumer goods company, and requires that accountants be fluent in IFRS
Since January 1, 2005, most US-listed European Union (EU) companies started using International Financial Reporting Standards (IFRS
) as required by the Council of Ministers of the EU and provided reconciliation to US-GAAP in their 20-F form until the reconciliation requirement was removed since November 15, 2007.
International Financial Reporting Standards (IFRS
) are an instrument for facilitating border crossing for SMEs.