IAS 21 'The effects of changes in foreign exchange rates'

BG Group plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-10-26 10:35
BG Group plc Annual Report 2010
CR Monitor Issue: 
2011/1011
Company covered: 
BG Group plc
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
Presentation currency changes to US dollars as functional currency remains Sterling.
Change
Intangible asset model adopted for service concession under IFRIC 12 "Service concession arrangements".
Change
Power generation businesses treated as discontinued operations, with remaining power plants transferred to other operating segments.

SGS SA Period End 31 December 2010

Submitted by Alisdair on Mon, 2011-04-11 07:14
SGS SA Annual Report 2010
Perfunctory disclosures on components of new goodwill
Swiss measurement services provider SGS echoes the language of IFRS 3 “Business combinations” and makes only perfunctory disclosures on CHF149 million goodwill arising on an acquisition, though this represents 10.2% of closing equity.

Beazley plc Period End 31 December 2010

Submitted by Alisdair on Wed, 2011-03-23 08:06
Beazley plc Annual Report 2010
US$33.7 million income statement gain, along with an identical loss through other comprehensive income, arise from changing presentation and functional currency at different dates
Jersey registered insurance company Beazley changes from sterling to US dollar its presentation currency at the start of the year but changes its functional currency 3 months later leading to a US$33.7 million exchange gain in the income statement and “reversal” of this gain through other comprehensive income.

Micro Focus International plc Period End 30 April 2010

Submitted by Company Reporting on Tue, 2010-09-21 16:12
Micro Focus International plc Annual Report 2010
Prior year restatement highlights an error of disclosure of cost of inventories as an expense
Restatement by UK information technology company Micro Focus International highlights a prior period error in that the US$64,000 difference in the opening and closing balances of inventories was disclosed as an expense.

J Sainsbury plc Period End 20 March 2010

Submitted by Company Reporting on Tue, 2010-07-27 08:31
J Sainsbury plc Annual Report 2010
Vehicle company used to create distributable reserves on a share issue
UK retailer J Sainsbury uses a vehicle company in a share issue and applies merger relief under the Companies Act 2006 to create £102 million distributable reserves, bypassing its requirement for application of share premium to a non-distributable reserve.

Pirelli & C SpA Period End 31 December 2009

Submitted by Company Reporting on Thu, 2010-05-20 08:59
Pirelli & C SpA Annual Report 2009
Comparative earnings per share significantly “misprinted”
Italian tyre manufacturer Pirelli adjusts significantly its prior year analysis of earnings per share from continuing and discontinued operations and tells us that the comparative information is a misprint.

Thomas Cook Group plc Period End 30 September 2008

Submitted by Company Reporting on Tue, 2009-03-31 23:00
Thomas Cook Group Annual Report 2008

Pro forma statements published following change of year end date
UK leisure company Thomas Cook changes its reporting date from 31 October to 30 September and publishes pro forma financial statements assuming the year end date had always being 30 September and MyTravel had always been its subsidiary.