IAS 37 'Provisions, contingent liabilities and contingent assets'

GKN plc Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-12-20 16:24
GKN plc Annual Report 2010
CR Monitor Issue: 
2011/1214
Company covered: 
GKN plc
Period End: 
31 December 2010
Report issued on 23 December 2011 covered the following practice issues:
Change
Pension partnership arrangement boosts total equity as arrangement with pension scheme recognised as non-controlling interest.
Change
Tax relief on special pension contribution explained.
Change
No contingent asset recognised on dispute with UK tax authorities over foreign dividend income.
Change
Control obtained over US business following change in contractual agreement.

Snam Rete Gas SpA Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-12-16 10:31
Snam Rete Gas SpA Annual Report 2010
CR Monitor Issue: 
2011/1208
Company covered: 
Snam Rete Gas SpA
Period End: 
31 December 2010
Report issued on 16 December 2011 covered the following practice issues:
Restatement
Service concession arrangement assets move to intangible asset model.
Restatement
Deferred income subject to decision by Italian authority divided between current and non-current and moved out of provisions.

SAP AG Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-12-15 14:53
SAP AG Annual Report 2010
CR Monitor Issue: 
2011/1206
Company covered: 
SAP AG
Period End: 
31 December 2010
Report issued on 15 December 2011 covered the following practice issues:
Change
New disclosure on ongoing legal cases as significant litigation-related provision impacts profit.
Change
Information given on goodwill and acquired intangible assets on business combination.
Change
Changes to segmental disclosure as use of US GAAP discontinued.

L'Oréal SA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-11-24 13:47
L'Oréal SA Annual Report 2010
CR Monitor Issue: 
2011/1110
Company covered: 
L'Oréal SA
Period End: 
31 December 2010
Report issued on 24 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
New provision recognised for potential fines, with increased disaggregation in note.
Change
New risk disclosures made for natural disasters, external growth and human resource management.
Restatement
Disclosures for former periods reclassified as segmentation changes.
Change
Increase in impairment test disclosures and reallocation of cash-generating unit goodwill and intangibles with indefinite useful lives.

Elan Corporation plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-11-23 11:39
Elan Corporation plc Annual Report 2010
CR Monitor Issue: 
2011/1109
Company covered: 
Elan Corporation plc
Period End: 
31 December 2010
Report issued on 23 November 2011 covered the following practice issues:
Change
Provision recognised for investigation that was an unquantified contingency in previous period.
Inconsistent
No separate line for share of result of associate on income statement.
Change
Change in segmental disclosure of impairments.
Restatement
Exposure to credit risk restated.

Cobham plc Period End 31 December 2010

Submitted by YWang on Mon, 2011-10-24 08:59
Cobham plc Annual Report 2010
CR Monitor Issue: 
2011/1009
Company covered: 
Cobham plc
Period End: 
31 December 2010
Report issued on 24 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Rates of increase in pensions disclosed.
Change
Provisions on business disposals presented as a separate class.
Change
Impact of reduction in tax rate not disclosed with the company telling us that it is immaterial.
Change
Prejudicial override invoked not to provide further information on one contractual breach.
Change
Disclosure of two acquisitions after the year end but impracticable to give detailed information.
Change
Revenue recognition policy expanded.

L’Air Liquide SA Period End 31 December 2010

Submitted by YWang on Fri, 2011-09-16 13:52
L’Air Liquide SA Annual Report 2010
CR Monitor Issue: 
2011/0907
Company covered: 
L’Air Liquide SA
Period End: 
31 December 2010
Report issued on 16 September 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Fair value disclosure no longer covers all financial assets and liabilities but only non-current borrowings.
Change
Fair value hierarchy disclosure now includes net rather than gross position on derivatives.
Change
Silent correction of a prior year error in presentation of available-for-sale financial assets within fair value hierarchy disclosure.
Change
Cash flows from purchase of non-controlling interests classified as financing activities.
Restatement
Bonus share issue prompts restatement of prior year earnings per share.
Change
Total amount of provisions on litigations disclosed.

HeidelbergCement AG Period End 31 December 2010

Submitted by YWang on Thu, 2011-09-15 14:09
HeidelbergCement AG Annual Report 2010
CR Monitor Issue: 
2011/0906
Company covered: 
HeidelbergCement AG
Period End: 
31 December 2010
Report issued on 15 September 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Change in disclosure of contribution of proportionately consolidated joint ventures from relative percentage to absolute numbers.
Change
Analysis of non-recurring income and expenses expanded.
Inconsistent
Maturity analysis of provisions provided without prior year comparatives.
Change
Liabilities on put options presented separately.
Change
Europe reportable segment splitted into two with a geographical analysis of revenue and non-current assets provided.
Change
Cash flows from changes in ownership interests in a subsidiary classified as financing.

Eni SpA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-09-07 10:07
Eni SpA Annual Report 2010
CR Monitor Issue: 
2011/0904
Company covered: 
Eni SpA
Period End: 
31 December 2010
Report issued on 12 September 2011 covered the following practice issues:
Restatement
Service concession assets reclassified from property, plant and equipment to intangible assets on adoption of IFRIC Interpretation.
Change
Goodwill impaired in light of reduced profitability expectations for cash-generating unit, with disclosure of reduced margins and sales volumes.
Change
Increased disclosure of new pricing and risk management strategies in light of change in market risk profile, following impairment.
Restatement
Revised classification of deferred tax balances by type.
Restatement
Statement of cash flows restated with loss of detail on exchange differences within operating cash flows, but increased disclosure of equity accounted investments.
Change
Transparency of invoices leads to fine, as investigation commenced into final billing and periodicity of billing in gas sector.

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.