UNITED INDUSTRIAL CORPORATION LIMITED AND ITS SUBSIDIARIES SUMMARY FINANCIAL STATEMENT
NOTES TO THE SUMMARY FINANCIAL STATEMENT For the financial year ended 31 December 2005
MATERIAL CHANGES IN ACCOUNTING POLICIES
The adoption of FRS 103 Business Combination resulted in the Group’s negative goodwill balance as at 31 December 2004 of $81.9 million being transferred directly to the retained earnings on 1 January 2005. The negative goodwill for the year 2005 of $2.8 million was recognised immediately in the income statement in accordance with FRS 103.
- United Industrial Corporation Limited summary financial report 2005