There is a need to be careful in the analysis effected with the varying effects that the new rules cause.
OAM
British Airways said on Monday a switch to IFRS accounting standards had boosted its 2004 profits but chopped its net assets by almost 50 percent as employee benefits were moved to its balance sheet.
Operating profit under International Financial Reporting Standards (IFRS) rose to 556 million pounds from 540 million under the former UK GAAP rules, BA said in a statement to the stock exchange.
Pretax profit rose to 513 million from 415 million.
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