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Goldbach Media: from IFRS to Swiss GAAP FER

Another SIX listed company moving to Swiss GAAP FER from the notoriously inflexible and expensive IFRS (loved by auditors $$$). Previous examples from the third quarter 2013 were Meyer Burger and Burkhalter Holding and in the first quarter 2014 Kaba (see links at bottom of post). Goldbach Group changes over to Domestic Standard on 8 December 2014 Küsnacht-Zürich, 10.11.2014. On 7 November 2014, SIX Swiss Exchange approved the petition of…

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Another Swiss SIX-listed Company Switches from complex IFRS to pragmatic Swiss GAAP FER

After Meyer Burger (SIX: MBTN) at the end of October 2013 and Burckhalter Holding (SIX: BKRN) beginning of October 2013 today a further company has joined the list of those dissatisfied with IFRS rules, complexity and costs: Kaba (SIX: KABN) released this press release today: kaba-switches-from-ifrs-to-swiss-gaap-fer. Kaba Group sells its products and solutions all over the world. Its main markets are Europe, North America and, increasingly, the Asia-Pacific region. The press release: Kaba switches…

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Meyer Burger moves from IFRS to Swiss GAAP FER

Just two weeks after Burkhalter Holding (see post) another SIX listed company has decided to switch from IFRS to Swiss GAAP FER. Meyer Burger has cited growing complexity, the overly detailed rules (costly) of IFRS as factors behind their decision to switch to Swiss GAAP FER. They are convinced that Swiss GAAP FER is a solid framework permitting a true and fair view. The shares of Meyer Burger (Ticker: MBTN)…

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Burkhalter Holding moves from IFRS to Swiss GAAP FER

Today the board of Burkhalter Holding (Ticker: BKRN) announced the switch from IFRS to Swiss GAAP FER. The main reasons given were the treatment of pension plans and of goodwill and in a further remark the steady increase of rules (read: making accounting more tedious and expensive with IFRS). They can now offset the equity capital, which will sink, with goodwill. As they no longer need to adhere to IAS 19…