Rolls-Royce profit was £700m less than stated under new accounting rules



Profits at Rolls-Royce could have been more than £700million lower last year under accounting rules about to come into force, the company is expected to tell shareholders.
Chief executive Warren East is expected to update investors tomorrow on the potential impact of incoming rules on when revenues should be recognised.
The company has typically brought forward earnings from contracts it has servicing jet engines to make up for most being sold at break even or a loss.
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14 November 2016 in Business, Views: 58
Source: Daily Mail
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