Discounted cash flows used to measure fair value less costs to sell

Dutch telecommunications company KPN measures recoverable amount of goodwill at fair value less costs to sell but uses a technique similar to value in use calculation.

Swiss financial services company Julius Baer publishes pro forma information on acquisitions which shows that operating income and profit would have increased by 72% and 137% respectively had they been made at the beginning of the year.

Swiss Reinsurance Company Zurich takes advantage of an exemption granted by the Swiss Stock Exchange and retains Swiss GAAP.

Emissions rights measured at fair value

Finnish paper and forest products company Stora Enso measures at fair value CO2 emission allowances received free of charge and recognises a gain on sale of €1.6 million.

Taxation benefit of share-based payments

Semiconductor company ASML recognises an expense of €9.4 million for the fair value of its share-based payments but increases equity by €16.1 million.

Emissions rights enlighten profits

Finnish electricity company Fortum measures CO2 emission allowances received free of charge at nil value and recognises a gain on sale of €25 million for the year.

Emissions rights measured at nil

German electricity and gas supplier RWE measures at nil CO2 emission allowances granted free of charge.

Ambiguity results in classification of preference shares as debt

Dutch speciality chemicals company Royal DSM initially classifies preference shares as debt on transition to IFRS but renegotiates terms and reclassifies them as equity.

Warning of significant IFRS transition impact but no quantification

German vehicle manufacturer DaimlerChrysler discloses that, when it moves to IFRS, there will be a significant impact arising from recognition of all cumulative pension actuarial gains and losses in equity although it does not quantify the effect.