IAS 8 'Net profit or loss for the period, fundamental errors and changes in accounting policies'

Beazley plc Period End 31 December 2010

Submitted by Alisdair on Wed, 2011-03-23 08:06
Beazley plc Annual Report 2010
US$33.7 million income statement gain, along with an identical loss through other comprehensive income, arise from changing presentation and functional currency at different dates
Jersey registered insurance company Beazley changes from sterling to US dollar its presentation currency at the start of the year but changes its functional currency 3 months later leading to a US$33.7 million exchange gain in the income statement and “reversal” of this gain through other comprehensive income.

Banco Bilbao Vizcaya Argentaria SA Period End 31 December 2009

Submitted by Company Reporting on Thu, 2010-04-22 13:48
Banco Bilbao Vizcaya Argentaria SA Annual Report 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.

Northgate plc Period End 30 April 2009

Submitted by Company Reporting on Mon, 2009-10-19 23:00
Northgate plc Annual Report 2009

Impairments bite deep as goodwill in six businesses written off

Following a sudden and prolonged period of reduced vehicle utilisation and declines in the residual values of used vehicles, UK vehicle rental company Northgate recognises £181 million impairments of goodwill, intangibles and vehicle fleet, leading to a pre-tax loss for the year.

Treasury share reserve and retained earnings reduced to reflect fall in share price

UK vehicle rental company Northgate transfers £5.5 million out of its “own shares” reserve to in respect of a “market value adjustment”, reducing retained earnings by 11%.

London Stock Exchange Group plc Period End 31 March 2009

Submitted by Company Reporting on Wed, 2009-07-22 23:00

Reclassification of a bond as a fixed rate instrument prompts prior year adjustment

London Stock Exchange changes to account for a bond as a fixed rather than a floating rate instrument and restates its prior year comparatives whereby pre-tax profit reduces by £7.7 million.

£484 million goodwill impairments lead to a loss for the year

London Stock Exchange recognises £484 million impairments against goodwill, mostly relating to a prior year acquisition, leading to a loss for the year.

St Modwen Properties plc Period End 30 November 2007

Submitted by Company Reporting on Fri, 2008-04-25 13:51
St Modwen Properties Annual Report Year 2008

How does market uncertainty affect recognition of pension surplus?
UK property developer St Modwen Properties invokes uncertainty within property and equity markets as a reason for not recognising its £6 million pension surplus.

Talent Group plc Period End 30 September 2007

Submitted by Company Reporting on Tue, 2008-03-11 16:12
Talent Annual Report Year 2008

A bright light shed on impact of new Standards

UK television production company Talent provides clear disclosure on the impact on its operations of new Standards, amendments and Interpretations.