ARTICLE · 15 OCTOBER 2008

Financial Reporting - Aiming High - The First IFRS Financial Statements

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The first IFRS financial statements Aim companies appear to be standing up well to the challenge of reporting under IFRS.

United KingdomAccounting and Audit

The first IFRS financial statements Aim companies appear to be standing up well to the challenge of reporting under IFRS.

The revised Aim Rules require Aimlisted companies to present their financial statements in compliance with IFRS. This applies to periods beginning on or after 1 January 2007.

In the spring edition of this newsletter, we looked at some of the choices available to Aim companies for presenting their interim results and discussed the findings of our survey of 100 Aim companies' interim reports. We have since continued our research into the accounting choices available under IFRS by reviewing the annual reports of 100 Aim companies with December 2007 year ends, including the top 20 by market capitalisation as at April 2008.

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