UK - The £1.4bn Coats Viyella scheme had its £85.4m surplus, under old accounting rule SSAP24, slashed to an FRS17 deficit of £2.2m.
As a result, the scheme's sponsor company - textiles giant Coats - has had its pre-tax profits hit by 18% following the full implementation of FRS17. Under SSAP24 its operating profit would have b...
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