Philips 2004 Annual Report Download - page 105
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Use of estimates
The preparation of financial statements requires management to
make estimates and assumptions that affect amounts reported in
the consolidated financial statements in order to conform with
generally accepted accounting principles. Actual results could
differ from those estimates.
Reclassifications
Certain items previously reported under specific financial
statement captions have been reclassified to conform with the
2004 presentation.
104 Philips Annual Report 2004
Financial statements of the Philips Group