Leases

Compagnie Financière Richemont SA Period End 31 March 2011

Submitted by YWang on Fri, 2012-01-27 14:40
Compagnie Financière Richemont SA Annual Report 2011
CR Monitor Issue: 
2012/0113
Company covered: 
Compagnie Financière Richemont SA
Period End: 
31 March 2011
Report issued on 27 January 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Land lease relationships reclassified from operating to financing leases following an amendment to IAS 17.
Change
Adjustment made to time band in a maturity analysis of financial liabilities.

Metro AG Period End 31 December 2010

Submitted by Company Reporting on Wed, 2012-01-18 13:58
Metro AG Annual Report 2010
CR Monitor Issue: 
2012/0107
Company covered: 
Metro AG
Period End: 
31 December 2010
Report issued on 18 January 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Some land leases reclassified from operating to finance leases.
Change
Weighted average cost of capital calculation more differentiated following establishment of new profit centre.
Inconsistent
No disclosure of current year effect as bills of exchange reclassified from financial to trade liabilities with consequent effect on net debt.
Change
Concept of net working capital brought into line with other companies in statement of cash flows.
Divergence
Leasehold improvements reclassified from land and buildings to other plant and equipment, but explanation lacks clarity.

OMV AG Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-12-16 17:08
OMV AG Annual Report 2010
CR Monitor Issue: 
2011/1210
Company covered: 
OMV AG
Period End: 
31 December 2010
Report issued on 16 December 2011 covered the following practice issues:
Change
Gain on remeasurement of prior interest on combination, that increases pre-tax profit by 9.6%, included in net financial result.
Divergence
Belated disclosure of why 10% interest in associate gives significant influence
Change
Land leases reassessed as finance leases, but with little effect.
Change
Enhanced disaggregation of cash flows on acquisitions in note to cash flow statement.

Marks and Spencer Group plc Period End 2 April 2011

Submitted by Company Reporting on Thu, 2011-12-01 10:01
Marks and Spencer Group plc Annual Report 2011
CR Monitor Issue: 
2011/1201
Company covered: 
Marks and Spencer Group plc
Period End: 
02 April 2011
Report issued on 01 December 2011 covered the following practice issues:
Inconsistent
Pension partnership liability added to exclusions from maturity table of financial liabilities.
Change
New disclosure that pension partnership payments will be adjusted against retained earnings when equity instrument exhausted.
Change
Additional disclosure on non-cancellable operating lease payments due after five years.
Change
Provisions table streamlined.

Centrica plc Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-11-10 11:24
Centrica plc Annual Report 2010
CR Monitor Issue: 
2011/1105
Company covered: 
Centrica plc
Period End: 
31 December 2010
Report issued on 10 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Long-term arrangement on power plant classified as operating lease.
Restatement
Segmental information subject to multiple restatements indicated in footnotes, as net assets rather than assets and liabilities disclosed by segment.
Restatement
Commitments presented net of amounts where there is a right of offset with counterparty.
Change
Increased disclosure on renewable obligation certificates.

Orkla ASA Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-10-03 15:17
Orkla ASA Annual Report 2010
CR Monitor Issue: 
2011/1001
Company covered: 
Orkla ASA
Period End: 
31 December 2010
Report issued on 04 October 2011 covered the following practice issues:
Change
Impairment of associate leads to loss for year as market value of associate treated as equivalent to impairment test result.
Change
Impairment assumptions disclosed for individual business units.
Change
Business presented as discontinued operation.
Change
Improved disaggregation of equity reserves.
Change
Significant impact foreseen from expected change to IFRS requirements on operating leases.
Restatement
Correction of misstated figures on share options.

Hammerson plc Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-08-04 09:17
Hammerson plc Annual Report 2010
CR Monitor Issue: 
2011/0804
Company covered: 
Hammerson plc
Period End: 
31 December 2010
Report issued on 04 August 2011 covered the following practice issues:
Divergence
Future operating lease receipts restated without explanation
Divergence
New information on share-based plans indicates previous lack of adequate disclosure.
Change
Explanation of how figures recommended for disclosure by European Public Real Estate Association are calculated.
Change
Gain on sale of associate disclosed in note.

Swedbank AB Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-07-12 09:08
Swedbank AB Annual Report 2010
CR Monitor Issue: 
2011/0705
Company covered: 
Swedbank AB
Period End: 
31 December 2010
Report issued on 12 July 2011 covered the following practice issues:
Restatement
Only cash and balances with central banks classed as cash and cash equivalents.
Divergence
Difference between nominal and carrying amount of financial assets and liabilities described as "discount effect" in unusual presentation.
Change
Section on financial targets added to management commentary.
Change
General discussion of risk discloses enterprise risk management policy.
Change
Buy-out of minority interest accounted for through equity.
Change
New view of variable compensation disclosed and attributed to reflection on financial crisis.

Swisscom AG Period End 31 December 2010

Submitted by YWang on Thu, 2011-07-07 09:05
Swisscom AG Annual Report 2010
CR Monitor Issue: 
2011/0703
Company covered: 
Swisscom AG
Period End: 
31 December 2010
Report issued on 07 July 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Adoption of an amendment to IFRS leads to reclassification of land leases.
Change
Options linked to future acquisitions recognised following adoption of another amendment to IFRS.

Ladbrokes plc Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-05-09 07:43
Ladbrokes plc Annual Report 2010
CR Monitor Issue: 
2011/0505
Company covered: 
Ladbrokes plc
Period End: 
31 December 2010
Report issued on 09 May 2011 covered the following practice issues:
Restatement
Analysis of future minimum operating lease rentals restated.
Change
Exchange rate sensitivity analysis enhanced