IAS 16 'Property, plant and equipment'

Accounting for Property Plant and Equipment under IFRS

Focusing on a sample of 30 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses the types of Property Plant and Equipment recognised by companies and the disclosures given in their respect including those relating to the determination of carrying amounts and depreciation charges as well as the clarity of disclosures in relation to movements during the year.

Anglo American plc Period End 31 December 2010

Submitted by YWang on Wed, 2011-09-21 16:18
Anglo American plc Annual Report 2010
CR Monitor Issue: 
2011/0908
Company covered: 
Anglo American plc
Period End: 
31 December 2010
Report issued on 21 September 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Simplified disclosures relating to special items and remeasurements.
Change
Segmental information about capital expenditure on a cash basis changed to include cash flows on derivatives.
Change
Cash flows from changes in ownership interests in subsidiaries that do not result in loss of control treated as financing activities.
Restatement
The aggregate amount of tax relating to other comprehensive income now includes tax on net exchange gain.
Change
Changes in reconciliations of movements in tangible and intangible assets.
Change
Improved disclosure of the key assumptions used in testing goodwill for impairment.

Investor AB Period End 31 December 2010

Submitted by YWang on Tue, 2011-08-09 15:09
Investor AB Annual Report 2010
CR Monitor Issue: 
2011/0806
Company covered: 
Investor AB
Period End: 
31 December 2010
Report issued on 09 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Two acquisitions made during the year with SEK2.4 billion income statement gain arising from remeasuring previous interest in one company acquired.
Change
Financial statements layout changed following the acquisitions to distinguish operating and investing activities.
Change
The effects of acquisitions on deferred tax disclosed separately.
Change
Land and buildings now reported as separate classes of tangible fixed assets with additions through acquisitions shown separately.

Hellenic Telecommunications Organisation SA Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-07-18 15:30
Hellenic Telecommunications Organisation SA Annual Report 2010
CR Monitor Issue: 
2011/0708
Company covered: 
Hellenic Telecommunications Organisation SA
Period End: 
31 December 2010
Report issued on 19 July 2011 covered the following practice issues:
Restatement
Move from corridor method to immediate recognition of actuarial movements on defined benefit pension commitments.
Change
Improved disclosure of risks includes discussion of regulatory framework, impairments, pensions and tax.
Restatement
Goodwill adjustment shown separately as business combination finalised.
Change
Provision recognised following pension negotiations with Greek government, with further contingent liability disclosed.
Change
Indications of impairment leads to significant income statement charge.

Hikma Pharmaceuticals plc Period End 31 December 2010

Submitted by YWang on Mon, 2011-06-27 12:29
Hikma Pharmaceuticals plc Annual Report 2010
CR Monitor Issue: 
2011/0615
Company covered: 
Hikma Pharmaceuticals plc
Period End: 
31 December 2010
Report issued on 27 June 2011 covered the following practice issues:
Inconsistent
Non-controlling interests that have waived voting rights not recognised.
Change
Acquisition-related costs and gains on revaluation of previously held interest in companies acquired classified as exceptional.
Change
New adjusted earnings per share measure provided.
Change
Depreciation rates on machinery disclosed.
Change
Simplified disclosure for share-based payment transactions.
Change
A previously disclosed dispute resolved to the relevant parties' "mutual satisfaction" but no financial effect indicated.

Renishaw plc Period End 30 June 2010

Submitted by SCowley on Tue, 2010-09-28 09:54
Renishaw plc Annual Report 2010
Wait and see approach to pension deficit contributions
UK engineering company Renishaw discloses that a charge over some company properties can be exercised in 2016 if the pension scheme deficit is not made up by that date, despite which it notes that it expects to make no contributions in the coming year and is silent on its plans thereafter.

Kingfisher plc Period End 30 January 2010

Submitted by Company Reporting on Mon, 2010-06-28 08:31
Kingfisher plc Annual Report 2010
£148 million tax receipt not recognised as income
UK retailer Kingfisher reports a £148 million tax receipt after winning an appeal against a payment to French tax authorities in 2004 but, because of a counter-appeal, does not record it as income.