Minority interests

Lafarge SA Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-12-16 15:15
Lafarge SA Annual Report 2010
CR Monitor Issue: 
2011/1209
Company covered: 
Lafarge SA
Period End: 
31 December 2010
Report issued on 16 December 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Reconciliation of effective and actual tax charges based on pre-tax profit excluding results of associates.
Change
Sale of interest in subsidiary without losing control accounted for through equity, with resulting cash flows classed under financing activities.
Change
New disclosures on social and environmental responsibility follow shareholder recommendations and incorporate Global Reporting Initiative recommendations.

Établissements Delhaize Frères et Cie “Le Lion” SA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-10-13 16:04
Établissements Delhaize Frères et Cie “Le Lion” SA Annual Report 2010
CR Monitor Issue: 
2011/1005
Company covered: 
Établissements Delhaize Frères et Cie “Le Lion” SA
Period End: 
31 December 2010
Report issued on 14 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Restatement
Change of policy on buy-outs of non-controlling interests following change to IFRS rules leads to restatement of statement of cash flows.
Change
Additional disclosure on revenue in segmental disclosures.
Change
Pre-tax discount rate disclosed for impairment testing of goodwill.
Change
Gain recognised following move to defined contribution scheme by some employees.
Change
Exchange of debt instruments treated as debt modification.

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.

Groupe Danone Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-08-24 09:17
Groupe Danone Annual Report 2010
CR Monitor Issue: 
2011/0815
Company covered: 
Groupe Danone
Period End: 
31 December 2010
Report issued on 24 August 2011 covered the following practice issues:
Restatement
Goodwill eliminated as policy on previous put option liabilities brought into line with policy for options issued in current year, in line with local GAAP recommendation.
Change
Creation of combined business treated as a business combination with non-controlling interests arising.
Change
Grouping of significant items in 'other operating income and expenses' explained by reference to local GAAP recommendation issued in light of revised IAS 1 "Presentation of financial statements".
Change
End to offsetting of financial assets against financial debt on face of balance sheet.
Change
Cash flows from transactions with non-controlling interests classed together in financing activities.

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.

DnB NOR ASA Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-06-27 10:28
DnB NOR Annual Report 2010
CR Monitor Issue: 
2011/0614
Company covered: 
DnB NOR ASA
Period End: 
31 December 2010
Report issued on 28 June 2011 covered the following practice issues:
Divergence
Gain on business disposal included in other operating income, although smaller one-off gains given separate line on income statement.
Change
Buy-out of non-controlling interest accounted for through equity under revised IAS 27 "Consolidated and separate financial statements".
Change
Change to defined benefit pension arrangements treated as curtailment with gain arising.
Change
Maturity analysis of financial instruments in liquidity disclosures includes financial assets, as maturity policies and concerns over sovereign debt disclosed.

Deutsche Post AG Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-05-18 09:37
Deutsche Post AG Annual Report 2010
CR Monitor Issue: 
2011/0515
Company covered: 
Deutsche Post AG
Period End: 
31 December 2010
Report issued on 18 May 2011 covered the following practice issues:
Change
IFRS Amendment on financial instruments leads to recognition of forward contract related to future acquisition.
Change
Amendment to cash flow Standard impacts classification of cash flows.
Change
Impairments of associates included in net financial income.
Change
Increase in disclosure as related party amendment adopted.

The Swatch Group SA Period End 31 December 2010

Submitted by YWang on Wed, 2011-05-18 06:35
The Swatch Group SA Annual Report 2010
CR Monitor Issue: 
2011/0514
Company covered: 
The Swatch Group SA
Period End: 
31 December 2010
Report issued on 18 May 2011 covered the following practice issues:
Inconsistent
Revised maturity analysis of financial liabilities still falls short of IFRS.
Change
Comparative analysis of movements in provisions no longer provided.
Change
Cash flow disclosures on business disposals.
Change
Purchases of non-controlling interests accounted for as equity transactions with cash flows included in financing activities.
Change
Change in reportable segments prompts restatement of prior year comparatives.

Volkswagen AG Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-05-13 09:02
Volkswagen AG Annual Report 2010
CR Monitor Issue: 
2011/0511
Company covered: 
Volkswagen AG
Period End: 
31 December 2010
Report issued on 13 May 2011 covered the following practice issues:
Divergence
Effect of derivative that is not a hedge inaccurately included with disclosures on ineffective hedges.
Change
Cash and cash equivalents reclassified to loans and receivables.
Change
Explanation of significant influence in 19.9% associate.
Change
Revision of segmentation following internal reporting.
Change
Waiver of rights treated as separate transaction to business combination.

Schneider Electric SA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-05-05 06:35
Schneider Electric SA Annual Report 2010
CR Monitor Issue: 
2011/0504
Company covered: 
Schneider Electric SA
Period End: 
31 December 2010
Report issued on 05 May 2011 covered the following practice issues:
Restatement
Deferred tax restated for new policy on value-added levy.
Change
French market authority recommendation on minority put options followed.
Divergence
No disclosure of primary reasons for business combination and factors making up goodwill.
Change
New Russian associate to be accounted for with three month delay.
Change
Business acquired provisionally presented as separate segment and not tested for impairment as lack of impairment risk stressed.