Let me see if I understand the situation. When their shareholders told them to have debt ratios based on capital, adjusted for debt, BAE decided that they did not need to take into account certain off balance sheet obligations.
Now that the new accounting regulations require them to take ALL debt into their balance sheet and into account, they want approval from their shareholders to ignore it.
BAE know better and so why follow the new accounting rules!
Are shareholders really going to let them get away with this?
Onésimo Alvarez-Moro
Related links:
BAE seeking permission to ignore IFRS rules
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