Submitted by: Submitted by memphis
Views: 163
Words: 650
Pages: 3
Category: Business and Industry
Date Submitted: 04/20/2013 06:03 AM
| Significant accounting policies | Are there significant differences? (yes/no) |
| LVMH | PPR | |
Accounting principles | IAS/IFRS adopted by the European Union. | IFRIC & IFRS/IAS published and adopted by the European Union. | NO |
Revenue | Direct sales to customers are recognized at the time of purchase. | Sales of goods are recognized when a Group entity has transferred the risks and rewards to the buyer. | NO |
| Wholesale sales through distributors are recognized upon shipment. | | |
| Revenue is presented net of all forms of discount. | Revenue is valued at the fair value, excluding inter-company sales and taxes, net of rebates and discounts. | |
EPS | Based on the weighted average number of shares outstanding during the period, excluding treasury shares. | Dividing net income by the weighted average number of outstanding shares during the year, after deduction of treasury shares. | No |
| Dilutive EPS is based on basic EPS and adding the weighted average number of shares that would result from the exercise of any dilutive instruments | To get dilutive EPS, adjusts basic EPS for all instruments granting deferred access to the share capital of the Company. | |
Brands and other intangible assets | Intangible assets with finite useful lives are amortized over their estimated useful lives. | Intangible assets are amortized over their useful life if it is finite. | No |
| Intangible assets other than brands and trade names are amortized. | Intangible assets with indefinite useful lives are not amortized | Yes |
| Development expenditure is not capitalized unless the final decision to launch the product has been taken. | Software developed in-house is capitalized and amortized on a straight-line basis over its useful life. | No |
Property, plant and equipment | The gross value of property, plant and equipment is stated at acquisition cost. | Property, plant and equipment are recognized at cost less accumulated depreciation...