IAS 18 'Revenue'

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.

Telekom Austria AG Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-11-29 16:30
Telekom Austria AG Annual Report 2010
CR Monitor Issue: 
2011/1113
Company covered: 
Telekom Austria AG
Period End: 
31 December 2010
Report issued on 30 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Segmentation changes to geographical basis following increasing demand for convergent products.
Change
Gain recognised on remeasuring former interest in company acquired in the year.
Restatement
Some comparative revenue from sale of merchandise reclassified as service revenue.
Restatement
Comparative revenue of associates restated significantly without explanation.

National Bank of Greece SA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-11-02 12:20
National Bank of Greece SA Annual Report 2010
CR Monitor Issue: 
2011/1102
Company covered: 
National Bank of Greece SA
Period End: 
31 December 2010
Report issued on 02 November 2011 covered the following practice issues:
Divergence
Credit rating bands in debt security disclosures changed without explanation, leading to mixture of "investment" and "speculative" graded securities.
Change
Change in classification of some former fee income as interest income.
Restatement
Financial instruments changed to "non-interest bearing" in table showing exposure to interest rate risk.

ARM Holdings plc Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-10-31 14:43
ARM Holdings plc Annual Report 2010
CR Monitor Issue: 
2011/1015
Company covered: 
ARM Holdings plc
Period End: 
31 December 2010
Report issued on 31 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Normalised profit disclosed by segment and additional geographical information.
Change
Improved disclosure of timing of revenue recognition.
Change
Limited information on effects of changes to UK corporation tax and capital allowance rates.
Restatement
Change in classification of short-term investments from available for sale to loans and receivables.
Restatement
Operating cash flows calculated from profit before tax rather than profit from operations.

Vestas Wind Systems A/S Period End 31 December 2010

Submitted by Alisdair on Wed, 2011-03-30 06:49
Vestas Wind Systems A/S Annual Report 2010
Change in revenue recognition policy significantly reduces prior year profit and equity
Danish wind turbine manufacturer Vestas Wind Systems changes its policies to delay the timing of recognising revenue from supply-and-installation projects and to record warranty provisions at an earlier time and the resultant restatements of prior year comparatives reduce pre-tax profit by 75% and equity by 24%.
Restructuring costs reduce profit by 40%
Danish wind turbine manufacturer Vestas Wind Systems records €158 million costs on a restructuring, mainly relating to impairments and staff costs, and reports them as a separate line item titled “one-off costs”.

Wolseley plc Period End 31 July 2010

Submitted by Alisdair on Mon, 2010-11-22 10:07
Wolseley plc Annual Report 2010
Inventory expensed corrected to include deliveries between third parties
UK building materials supplier Wolseley has changed its accounting policy to include £901 million arising from deliveries between its suppliers and customers in inventory expensed, increasing the comparative total by 9.5%, with no effect on cost of sales or profit.
Associate impaired below net asset value
UK building materials supplier Wolseley writes off the £41 million net asset value of an interest in an associate as it considers the amount may be irrecoverable, reducing profit before tax by 14%.

PZ Cussons plc Period End 31 May 2010

Submitted by Company Reporting on Mon, 2010-09-06 10:37
PZ Cussons plc Annual Report 2010
Restatement of figures leads to prior year revenue reduction of £56.3 million
Review of distribution agreement leads UK personal products company PZ Cussons to treat subsidiary as agent rather than principal and results in restatement that reduces prior year revenue by 6.7%.

London Stock Exchange Group plc Period End 31 March 2010

Submitted by Company Reporting on Wed, 2010-07-21 08:59
London Stock Exchange Group plc Annual Report 2010
Life expectancy assumptions reduced following change of tables used
London Stock Exchange changes the tables used for mortality assumptions resulting in lower life expectancies.