Demerger

Pirelli & C SpA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-12-15 16:18
Pirelli & C SpA Annual Report 2010
CR Monitor Issue: 
2011/1207
Company covered: 
Pirelli & C SpA
Period End: 
31 December 2010
Report issued on 15 December 2011 covered the following practice issues:
Change
Liability remeasured on demerger following IFRIC 17.

Accor SA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-10-26 09:08
Accor SA Annual Report 2010
CR Monitor Issue: 
2011/1010
Company covered: 
Accor SA
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
Gain recognised as demerger leads to fair valuation of dividend under IFRIC Interpretation.
Change
Duplication omitted from reserve accounting.
Restatement
No explanation of restatement of loan assets.
Inconsistent
Still no comparatives as segmental table left blank in English edition of accounts.

Fiat SpA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-04-26 06:10
Fiat SpA Annual Report 2010
CR Monitor Issue: 
2011/0405
Company covered: 
Fiat SpA
Period End: 
31 December 2010
Report issued on 26 April 2011 covered the following practice issues:
Divergence
Inadequate disclosure as demerger treated as outside scope of IFRIC 17.
Change
Reconciliation of US GAAP and IFRS accounts of associate.
Change
Intentions for share capital disclosed in light of demerger.
Change
Implications of demerger for share-based payments disclosed.
Change
Gain on remeasurement of prior holding recognised on acquisition.
Change
Buy-out of non-controlling interest treated as equity transaction.

Experian Group Ltd Period End 31 March 2007

Submitted by Company Reporting on Wed, 2007-08-15 23:00

UK GAAP invoked to account for demerger under IFRS
Irish IT service provider Experian accounts for the installation of a new parent company as a merger and treats the demerger of a subsidiary of the former parent as a $5.6 billion dividend in specie.

Replacement of share options leads to income statement charge
Irish IT services company Experian recognises a $23 million charge for share-based payments as terms change consequent on a demerger.