1 The European changeover to International Financial Reporting Standards went as expected. 2 CEOs need to fully understand how these accounting and reporting changes could affect the way their financial results look to outsiders. 3 The changeover to IFRS only involved changing a few numbers in the accounts of the companies concerned. 4 Once companies had understood which accounting policies they had to change, the major problems were over. S The changeover experience was the same for each of the companies involved. 6 Many European countries' old reporting standards had been designed mainly with their respective tax authorities in mind.
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