• Service: Audit
  • Industry: Chemicals, Pharmaceuticals
  • Type: Business and industry issue
  • Date: 11/16/2011

The Application of IFRS: for Chemicals companies 

This publication is intended to guide you through some of the accounting challenges facing chemicals companies that report under IFRS.
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This survey, which is based on a review of the consolidated financial statements of 27 companies from 18 countries, will assist you in understanding the accounting issues relevant to the industry and the approaches taken by companies to address them.


As basic chemical products have remained relativly unchanged for decades, improvements in production methods and innovation up the value chain are occurring at a seemingly ever-increasing rate.


This challenges the business models of chemical companies, and when coupled with ever-increasing regulation, puts pressure on a number of accounting areas. KPMG shares knowledge and insight on key topics including: 

  • Inventories 
  • Property, plant and equipment 
  • Impairment of non-financial assets
  • Interests in joint ventures 
  • Provisions


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