Accounting policies

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.

Cable & Wireless Worldwide plc Period End 31 March 2011

Submitted by YWang on Fri, 2011-11-18 14:04
Cable & Wireless Worldwide plc Annual Report 2011
CR Monitor Issue: 
2011/1108
Company covered: 
Cable & Wireless Worldwide plc
Period End: 
31 March 2011
Report issued on 18 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Divergence
Main pension scheme continues to use RPI but potential impact of switching to CPI not disclosed.
Change
Policy for attributing total comprehensive income to owners of the parent and non-controlling interests changed.
Change
Pre-tax eps together with adjusted measures provided.
Change
Current and potential impacts of changes in tax rate disclosed.

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.

Daimler AG Period End 31 December 2010

Submitted by YWang on Thu, 2011-08-04 10:09
Daimler AG Annual Report 2010
CR Monitor Issue: 
2011/0805
Company covered: 
Daimler AG
Period End: 
31 December 2010
Report issued on 04 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Improved disclosure of "accounting estimates and assessments".
Change
Prejudicial override invoked not to provide full information on the European Commission's anti-trust investigations.
Change
Marketable debt securities now presented separately to help users determine liquidity.
Change
Nominal values of derivative financial instruments disclosed.

International Financial Reporting Standards Foundation Period End 31 December 2010

Submitted by YWang on Wed, 2011-07-20 09:02
International Financial Reporting Standards Foundation Annual Report 2010
CR Monitor Issue: 
2011/0709
Company covered: 
International Financial Reporting Standards Foundation
Period End: 
31 December 2010
Report issued on 20 July 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Reclassification of per diem expenses to employee costs.
Change
Improvement made to cash flow statement by moving foreign exchange payments from cash received to cash paid.
Change
Accounting policy of contributions expanded to include donated services.
Change
Change in disclosure of the number of and remuneration to IASB members.

Swedbank AB Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-07-12 09:08
Swedbank AB Annual Report 2010
CR Monitor Issue: 
2011/0705
Company covered: 
Swedbank AB
Period End: 
31 December 2010
Report issued on 12 July 2011 covered the following practice issues:
Restatement
Only cash and balances with central banks classed as cash and cash equivalents.
Divergence
Difference between nominal and carrying amount of financial assets and liabilities described as "discount effect" in unusual presentation.
Change
Section on financial targets added to management commentary.
Change
General discussion of risk discloses enterprise risk management policy.
Change
Buy-out of minority interest accounted for through equity.
Change
New view of variable compensation disclosed and attributed to reflection on financial crisis.

Nordea Bank AB (publ) Period End 31 December 2010

Submitted by YWang on Tue, 2011-07-05 10:53
Nordea Bank AB (publ) Annual Report 2010
CR Monitor Issue: 
2011/0702
Company covered: 
Nordea Bank AB (publ)
Period End: 
31 December 2010
Report issued on 05 July 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Lending commissions previously regarded as compensation for performed services now treated as an integral part of the effective interest rate of a loan.
Change
Change in the categorisation of savings related commissions.
Change
Explanation provided for a €42 million pension curtailment gain.
Restatement
Prior year disclosure of assets pledged as security for liabilities restated without explanation.

Advertising Costs: Changes To Timing Of Recognition As An Expense

This report examines the impact of an IFRS amendment clarifying the point at which expenditure on advertising and promotional activities is recognised.

Koninklijke Philips Electronics NV Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-06-15 10:41
Koninklijke Philips Electronics NV Annual Report 2010
CR Monitor Issue: 
2011/0610
Company covered: 
Koninklijke Philips Electronics NV
Period End: 
31 December 2010
Report issued on 15 June 2011 covered the following practice issues:
Change
Significant gain recognised on sale of available for sale financial asset to own pension fund.
Change
Restriction on pension rights leads to further gain as negative past service costs recognised.
Change
Information on expenses by nature added in accordance with IFRS requirements.
Change
IFRS format adopted for order of items on balance sheet.

Critical judgements and estimates

This report focuses on a sample drawn from 24 large listed European companies and reviews the following: a) whether a company discloses key estimates and other significant judgements and the location of the disclosure is; b) whether disclosures of significant judgements other than those involving estimation and key sources of estimation uncertainty are both made; c) the length of the disclosures and d) the areas covered in terms of key sources of estimation uncertainty.