As of January 1, 2005, the Group applies International Financial Reporting Standards (IFRS), previously known as IAS. The transition to the new standards have had limited effect on the Group's income and equity.
The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. Some additional information is disclosed based on the standard RR 30:05 from the Swedish Financial Accounting Standards Council. As required by IAS 1, Electrolux companies apply uniform accounting rules, irrespective of national legislation, as defined in the Electrolux Accounting Manual, which is fully compliant with IFRS.
