PR Newswire: news distribution, targeting and monitoring
 

TAM Files 2008 Form 20-F Annual Report in IFRS

 

For the first time, TAM's annual report contains financial statements prepared in accordance with IFRS

SAO PAULO, Brazil, June 30 /PRNewswire-FirstCall/ -- TAM (NYSE: TAM, Bovespa: TAMM4), in accordance with its reporting obligations, filed its annual report on Form 20-F (the 2008 Annual Report) with the U.S. Securities and Exchange Commission (the SEC) today. The 2008 Annual Report can be accessed on TAM's website (www.tam.com.br), and the SEC's website (www.sec.gov).

(Logo: http://www.newscom.com/cgi-bin/prnh/20080221/SPTH002LOGO )

For the first time, and as permitted by the SEC's rules, TAM's 2008 Annual Report contains financial statements prepared in accordance with international financial reporting standards (IFRS) as issued by the International Accounting Standards Board. In prior years, TAM's annual report on Form 20-F contained financial statements prepared in accordance with Brazilian Generally Accepted Accounting Practices (Brazilian GAAP), with a reconciliation to United States Generally Accepted Accounting Practice (US GAAP). TAM is presenting its financial statements in IFRS now ahead of the compulsory requirement in Brazil that registered companies present IFRS financial statements in their CVM filings for the financial statements for the year ended December 31, 2010. TAM believes the adoption of IFRS will increase comparability with its peers internationally, facilitating the valuation and investment decision by TAM's investors.

In accordance with SEC rules, TAM's IFRS financial statements have a footnote (note 4.2) that contains a reconciliation of certain line items between IFRS and Brazilian GAAP. In order to further help investors in TAM's transition to IFRS, TAM is also including an annex to the press release on its website that contains both a summary of key accounting differences as they relate to TAM and a description of a change in TAM's accounting treatment for certain expenses.

In addition, shareholders may receive a hard copy of TAM's complete audited financial statements free of charge by requesting a copy through TAM's Investor Relations Department at +55 11 5582 9715 or email: invest@tam.com.br.

SOURCE TAM

Back to top

RELATED LINKS
http://www.tam.com.br

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

Featured Video

 
  • Print
  • Email
  •   RSS
  • Share it 
  • Blog it 
  • Blog Search 

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Free Investing Newsletter from Investor Uprising!

Learn to navigate the world's financial system and profit from leading companies.  


Register for Investor Uprising, the people's investment site, for a free weekly newsletter, information, education and premium research including our latest IU Confidential Report - "All The Glitters: The Ultimate Gold Report".

Advanced Search
Search
  
  1. Products & Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire