IAS 29 'Financial reporting in hyperinflationary economies'

Pernod Ricard SA Period End 30 June 2010

Submitted by YWang on Tue, 2010-10-26 09:20

Change in the functional currency of a subsidiary in hyperinflationary economy not fully explained
French drinks company Pernod Ricard does not fully explain the reason for changing the functional currency of a Venezuelan subsidiary from bolivar to the US dollar.

Diageo plc Period End 30 June 2010

Submitted by YWang on Mon, 2010-10-04 14:40

Pension funding agreement reached after the balance sheet date
UK drinks company Diageo discloses post balance sheet funding agreements reached with the Trustees of its UK and Irish pension schemes which involve transfer of assets and cash contributions.

Pirelli & C SpA Period End 31 December 2009

Submitted by Company Reporting on Thu, 2010-05-20 08:59

Comparative earnings per share significantly “misprinted”
Italian tyre manufacturer Pirelli adjusts significantly its prior year analysis of earnings per share from continuing and discontinued operations and tells us that the comparative information is a misprint.

Banco Bilbao Vizcaya Argentaria SA Period End 31 December 2009

Impairments heightened by write-down of goodwill
Spanish Bank Banco Bilbao Vizcaya Argentaria recognises €1.1 billion impairment of goodwill in businesses in the USA that reduces pre-tax profit by 16%, adding that reasonably possible changes to key assumptions may lead to further charges in the future.

Disclosures on contracts with resale and repurchase commitments revised and extended
Spanish bank Banco Bilbao Vizcaya Argentaria restates upwards by 2.3% the comparative amount of financial instruments purchased with resale commitments, telling us that it now includes contracts with the Bank of Spain.