MOL to use IFRS for unconsolidated reports
Hungarian oil and gas company MOL announced yesterday that it would start using the International Financial Reporting Standards (IFRS) in its unconsolidated annual reports from January 1, 2016.
The company has already begun drawing up its consolidated annual reports based on IFRS.
A government resolution in June 2015 made it possible for Hungarian companies listed on a regulated market in any country within the European Economic Area to use IFRS for unconsolidated reporting from January 1. The use of IFRS for such companies will be mandatory from the beginning of 2017.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.