122 financial information 2005 activity report ppr 123 foreword transition to ifrs pursuant european regulation no 1606 2002 of july 19 the consolidated fi nancial statements for year ended december 31 were prepared in accordance with applicable international accounting standards adopted by union as that date comprise reporting ias and interpretations standing committee sic ifric 2004 comparative has been on annual drawn up compliance 1 rst time adoption excluding 32 instruments disclosure presentation 39 recognitionand measurement which have applied group prospectively january pro forma gures change gucci closing dates luxury goods division aligned scal period ends all its subsidiaries hence s include different consolidation
