2006 - Interparfums

1.
accounting
principles
1.1
General
In accordance with EC regulations 1606/2002 of
July 19, 2002 on international accounting standards,
the 2006 and 2005 consolidated financial statements
of the Inter Parfums Group are established in compliance
with IAS/IFRS (International Accounting Standards/International
Financial Reporting Standards) applicable as of
December 31, 2005 as endorsed by the European Union.
Financial information presented herein has been based on:
■ IFRS standards and interpretations whose application was
mandatory starting in 2005,
■ options retained and exemptions used by the Group for the
preparation of IFRS consolidated financial statements.
The consolidated financial statements of December 31, 2006
were approved by the Board of Directors on March 8, 2007.
1.2
Changes in accounting standards
The following standards, amendments and interpretations
entered into force on January 1, 2006:
■ amendment to IAS 19 Employee Benefits: Actuarial Gains
and Losses, Group Plans and Disclosures,
■ amendments to IAS 39 and IFRS 4 Financial
Guarantee Contracts,
■ amendment to IAS 39 The Fair Value Option.
Their application did not have a material impact on the
consolidated financial statements.
The following standards, amendments and interpretations
will only be applied to the consolidated financial statements
starting in 2007:
■ IFRS 7 Financial Instruments: Disclosures,
■ amendment to IAS 1 Presentation of Financial Statements
Capital Disclosures,
■ IFRIC 11 Group and Treasury Share Transactions.
The Group plans to adopt these texts when they become
applicable. The quantitative impacts of these changes
on the financial statements is currently being assessed.
67