2005 Annual Report - Touax

note 28. Reconciliation of the 2004 information
published under French GAAP and IFRS data
The reconciliation of the balance sheet and shareholders’
equity, the income statement and the cash
flow statement as at 31 December 2004 was presented
in the reference document filed on 3 June 2005
under the number D 05-820.
The purpose of the present memorandum is to recall
the information required in respect of the transition
to IFRS, in accordance with the recommendations of
the CESR – Committee of European Exchange
Securities Regulators – and the AMF.
note 28.1. Objective and content
The details given below of the impact of the transition
to IFRS in figures (cf. notes to the consolidated
financial statements note 28.2 page 97) relate to:
2 the preparation of the opening balance sheet
under IFRS as at 1 January 2004,
2 the impact on the presentation and valuation of
the main aggregates of the balance sheet as at 31
December 2004 and the Income statement for the
period from 1 January to 31 December 2004.
The purpose of the transition tables below is to set
out and explain the main impacts of the change in
accounting standards on the Group’s financial situation
and financial performance.
note 28.2. Impacts of the transition to IFRS
In accordance with standard IAS 1 “Presentation of
Financial Statements”, the presentation of the consolidated
balance sheet of TOUAX complies with the
classification of assets and liabilities into current and
non-current elements. The balances in the balance
sheet under French GAAP have been reclassified on
the basis of these criteria (cf. notes to the consolidated
financial statements note 29.5.1 page 106).
The presentational differences in the income statement
under IFRS compared to French standards, set
out in the notes to the consolidated financial statements
note 29.5.2 page 106, are limited, as the
TOUAX Group did not present an “Exceptional result”
under French standards. Capital gains and losses on
disposals of equipment were considered to be everyday
management operations because of the Group’s
leasing activity and contributed to the operating
income in the consolidated income statements
published by the TOUAX Group under French GAAP.
The differences in the conditions governing the
recording and valuation of their impacts are described
in the notes to the consolidated financial statements
note 29.5.3 page 107.
note 28.2.1. Transition table for the consolidated
balance sheet as at 1 January 2004
The exceptions to the retrospective application used
in the preparation of the opening balance sheet as at
1 January 2004 are stated in the notes to the consolidated
financial statements note 1 page 52.
annual report 2005
Consolidated accounts
97