DGAP-News: Tianbao Holdings Ltd.: Change in accounting policy
(firmenpresse) - DGAP-News: Tianbao Holdings Ltd. / Key word(s): Miscellaneous
Tianbao Holdings Ltd.: Change in accounting policy
01.08.2013 / 09:00
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Zhengzhou China PRC - Thursday - August 1, 2013 - Tianbao Holdings
Change in accounting policy .
(Ticker: 3TB1 ) The board of directors announced today that having
discussed the accounting principles with both their auditors and
consultants , that they have decided to change the basis of the accounting
from GAAP to IFRS .
The board feels that by making this change they will be joining a majority
of companies outside of the US that have already adopted this practice ,
and further , IFRS will allow the company to more accurately portray the
state of the company .
The company will announce its draft accounts by close of business on Monday
August 05 , and would expect the audited accounts to be completed by the
third week in September .
Commenting on this change , the CEO was quoted as saying that he is pleased
that the board shares his views on the presentation of the financial
statements and he is sure that shareholders will meet the change with
enthusiasm
About Tianbao Holdings:
Tianbao Holdings (the 'Company') is an economically-affordable housing
manufacturer in the People's Republic of China. The Company works closely
with the Chinese government in acquiring the land for new housing
developments and constructing the homes per the specifications of the
housing plans of both the national Chinese government as well as the
provincial governments, in particular Henan Province, wherein all of the
Company's projects to date have been located.
Please address questions to : tianbaoholdings(at)gmail.com.
Safe Harbor Statement; The statements contained herein are forward-looking
statements that are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements.
End of Corporate News
End of Corporate News
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Media archive at www.dgap-medientreff.de and www.dgap.de
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223733 01.08.2013
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Datum: 01.08.2013 - 09:00 Uhr
Sprache: Deutsch
News-ID 283730
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Kategorie:
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