Operating leases

Compagnie Financière Richemont SA Period End 31 March 2010

Submitted by YWang on Wed, 2010-09-01 13:24
Compagnie Financière Richemont SA Annual Report Year
Policy for whether to classify investments as cash equivalents conflicts with IFRS
Swiss luxury goods company Compagnie Financière Richemont newly discloses a policy to apply a threshold in determining when to reclassify its investments in funds specialising in government bonds out of cash equivalents, which conflicts with IFRS and results in significant fluctuation in its cash balances.
Disclosure of a future significant gain from a post balance sheet acquisition
Swiss luxury goods company Compagnie Financière Richemont discloses a €102 million gain on revaluing its previous interest in a company acquired after the balance sheet date and application of a new IFRS to the acquisition means this will be recorded in the income statement rather than directly in equity.

Northgate plc Period End 30 April 2009

Submitted by Company Reporting on Mon, 2009-10-19 23:00
Northgate plc Annual Report 2009

Impairments bite deep as goodwill in six businesses written off

Following a sudden and prolonged period of reduced vehicle utilisation and declines in the residual values of used vehicles, UK vehicle rental company Northgate recognises £181 million impairments of goodwill, intangibles and vehicle fleet, leading to a pre-tax loss for the year.

Treasury share reserve and retained earnings reduced to reflect fall in share price

UK vehicle rental company Northgate transfers £5.5 million out of its “own shares” reserve to in respect of a “market value adjustment”, reducing retained earnings by 11%.

Ryanair Holdings plc Period End 31 March 2009

Submitted by Company Reporting on Thu, 2009-09-10 23:00

Resolutions on investee management inappropriately disclosed as post balance sheet event

Irish airline Ryanair uses its post balance sheet events note inappropriately to disclose resolutions proposed at an investee’s AGM to reduce the remuneration of directors, in a year that has seen €223 million impairment of the investment by Ryanair, leading it to a loss for the year.

Two restatements described as reclassifications
Irish airline Ryanair restates by significant amounts a summary of senior executive pay and its capital redemption reserve, inaccurately describing both changes as reclassifications.

Air France-KLM SA Period End 31 March 2009

Submitted by Company Reporting on Mon, 2009-07-13 23:00
Air France-KLM Annual Report 2009

Equity reduced 6% by revised treatment of loyalty programme
French airline Air France-KLM restates its accounts on early adoption of IFRIC 13 "Customer loyalty programmes", reducing comparative equity by 6% and increasing deferred revenue on ticket sales by 41.1%.

Increased disclosure as regulators act on rating agencies
French airline Air France-KLM publishes a policy on counterparty risk management that includes information from a credit rating agency, as European regulators consider action to improve agencies' performance.

RM plc Period End 30 September 2007

Submitted by Company Reporting on Mon, 2008-02-18 16:34
RM Annual Report Year 2008

Pension curtailment gain represents 19% of profit before tax
UK software supplier RM recognises a gain of £3.5 million that represents 19% of pre-tax profit following introduction of a 5% cap on pensionable salary inflation.