IAS 8 (revised) 'Accounting policies, changes in accounting estimates and errors'

Metro AG Period End 31 December 2010

Submitted by Company Reporting on Wed, 2012-01-18 13:58
Metro AG Annual Report 2010
CR Monitor Issue: 
2012/0107
Company covered: 
Metro AG
Period End: 
31 December 2010
Report issued on 18 January 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Some land leases reclassified from operating to finance leases.
Change
Weighted average cost of capital calculation more differentiated following establishment of new profit centre.
Inconsistent
No disclosure of current year effect as bills of exchange reclassified from financial to trade liabilities with consequent effect on net debt.
Change
Concept of net working capital brought into line with other companies in statement of cash flows.
Divergence
Leasehold improvements reclassified from land and buildings to other plant and equipment, but explanation lacks clarity.

Severn Trent Period End 31 March 2011

Submitted by davids on Thu, 2012-01-12 10:42
Severn Trent plc Annual Report 2011
CR Monitor Issue: 
2012/0103
Company covered: 
Severn Trent Plc
Period End: 
31 March 2011
Report issued on 12 January 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Assets transfered from customers recognised at fair value on IFRIC 18 adoption.
Change
Maturity analysis dropped from financial instrument fair value against book value breakdown.
Change
Disclosure of development expenditure capitalisation criteria expanded.

Scottish and Southern Energy plc Period End 31 March 2011

Submitted by YWang on Wed, 2012-01-11 11:18
Scottish and Southern Energy plc Annual Report 2011
CR Monitor Issue: 
2012/0102
Company covered: 
Scottish and Southern Energy plc
Period End: 
31 March 2011
Report issued on 11 January 2011 covered the following practice issues:
Inconsistent
Correction of prior year non-compliances results in reclassification of 5.4% assets.
Change
Adoption of IFRIC 18 leads to accelerated recognition of revenue.
Change
Disclosure of the impact of changes in tax rates.
Change
Significant impairments classified as exceptional items.
Change
Adjusted earnings per share no longer presented on the face of income statement.

Tele 2 AB Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-12-14 11:06
Tele 2 AB Annual Report 2010
CR Monitor Issue: 
2011/1203
Company covered: 
Tele 2 AB
Period End: 
31 December 2010
Report issued on 14 December 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Revenue recognition policies change for multiple deliveries and 'enhanced fees'.
Change
Revised IFRS 3 "Business combinations" impacts on accounting for non-controlling interests.
Change
Greater detail provided on financial instruments.
Change
Increased disclosure of calls between fixed and mobile networks in segmental disclosures.

Standard Life plc Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-12-13 17:02
Standard Life plc Annual Report 2010
CR Monitor Issue: 
2011/1202
Company covered: 
Standard Life plc
Period End: 
31 December 2010
Report issued on 14 December 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Move from 'underlying profit' to 'operating profit' as non-GAAP measure of performance.
Restatement
Business classified as discontinued operation with income statement restated.
Change
Former reportable segments combined.
Change
Debt and equity investments disclosed separately on face of balance sheet.

BG Group plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-10-26 10:35
BG Group plc Annual Report 2010
CR Monitor Issue: 
2011/1011
Company covered: 
BG Group plc
Period End: 
31 December 2010
Report issued on 26 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Presentation currency changes to US dollars as functional currency remains Sterling.
Change
Intangible asset model adopted for service concession under IFRIC 12 "Service concession arrangements".
Change
Power generation businesses treated as discontinued operations, with remaining power plants transferred to other operating segments.

Allianz SE Period End 31 December 2010

Submitted by YWang on Tue, 2011-09-27 09:44
Allianz SE Annual Report 2010
CR Monitor Issue: 
2011/0910
Company covered: 
Allianz SE
Period End: 
31 December 2010
Report issued on 27 September 2011 covered the following practice issues:
Inconsistent
Changes in policies for index options and related credits to policyholders' accounts but no disclosure of the current year impact.
Change
Separate disclosure for available-for-sale government bonds allocated to Greece, Ireland and Portugal.
Change
Separate note provided for disclosure of accounting estimates and assumptions.
Change
Net run-off triangles of Property-Casualty business disclosed in a note.
Change
Increase in disclosure of significant disposals.

Eni SpA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-09-07 10:07
Eni SpA Annual Report 2010
CR Monitor Issue: 
2011/0904
Company covered: 
Eni SpA
Period End: 
31 December 2010
Report issued on 12 September 2011 covered the following practice issues:
Restatement
Service concession assets reclassified from property, plant and equipment to intangible assets on adoption of IFRIC Interpretation.
Change
Goodwill impaired in light of reduced profitability expectations for cash-generating unit, with disclosure of reduced margins and sales volumes.
Change
Increased disclosure of new pricing and risk management strategies in light of change in market risk profile, following impairment.
Restatement
Revised classification of deferred tax balances by type.
Restatement
Statement of cash flows restated with loss of detail on exchange differences within operating cash flows, but increased disclosure of equity accounted investments.
Change
Transparency of invoices leads to fine, as investigation commenced into final billing and periodicity of billing in gas sector.

Smith & Nephew plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-08-10 15:11
Smith & Nephew plc 2010
CR Monitor Issue: 
2011/0808
Company covered: 
Smith & Nephew plc
Period End: 
31 December 2010
Report issued on 11 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Measure of pension inflation indexation changed.
Change
Deferred tax credit recognised following change of tax rate.
Inconsistent
Geographical analysis of segmental non-current operating assets omitted.

Brisa - Auto-Estradas de Portugal SA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-08-02 09:49
Brisa - Auto-Estradas de Portugal SA Annual Report 2010
CR Monitor Issue: 
2011/0802
Company covered: 
Brisa - Auto-Estradas de Portugal SA
Period End: 
31 December 2010
Report issued on 02 August 2011 covered the following practice issues:
Restatement
Adoption of new Interpretation on service concession arrangements leads to restatement.
Divergence
Senior management remuneration restated after Company Reporting criticism, but without explanation.
Change
Gain on disposal of business included in 'investment income'.
Change
Segmentation changes following change of policy on service concession arrangements.
Restatement
Restated foreign currency sensitivity analysis leads to lack of clarity.