2005 reporting changes
Changes in the reporting of BP's financial data for 2005.14 March 2005 at
14.00 GMT (09.00 EST)
On Monday, 14th March, Byron Grote, BP's Chief Financial Officer, presented a webcast covering changes to the reporting of BP's financial data for 2005. The presentation covered:
View an archive of the presentation using the links on the right.
- adoption of International Financial Reporting Standards (IFRS)
- discontinuation of pro forma reporting
- resegmentation - transfer of the financial results of some operations amongst BP's business segments
View an archive of the presentation using the links on the right.
Presentation Downloads
Forward Looking Statements Cautionary Statement
This presentation and the associated slides and discussion contain certain forward-looking statements regarding the change to international financial reporting standards and their effects and, in particular, the value of net charges in other businesses and corporate, the impact (if any) on the group’s debt levels and financing costs, the impact (if any) on the group’s hedging activities, the impact (if any) on the group’s tax situation, effective tax rate and cash tax rate, the impact (if any) on the economic value of the group’s business, changes (if any) to the cash generated and earnings, and the impact (if any) on the group’s accounting results - earnings and capital employed and consequent changes to ratios derived therefrom. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors, including the timing of bringing new fields on stream; future levels of industry product supply; demand and pricing; operational problems; general economic conditions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; changes in public expectations and other changes in business conditions; the actions of competitors; natural disasters and adverse weather conditions; wars and acts of terrorism or sabotage; and other factors discussed elsewhere in this presentation. This presentation also contains financial information which is not presented in accordance with generally accepted accounting principles (GAAP). A quantitative reconciliation of this information to the most directly comparable financial measure calculated and presented with GAAP can be found on our website at www.bp.com.Download webcast presentation
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