Tangible fixed assets

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.

Severn Trent Period End 31 March 2011

Submitted by davids on Thu, 2012-01-12 10:42
Severn Trent plc Annual Report 2011
CR Monitor Issue: 
2012/0103
Company covered: 
Severn Trent Plc
Period End: 
31 March 2011
Report issued on 12 January 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Assets transfered from customers recognised at fair value on IFRIC 18 adoption.
Change
Maturity analysis dropped from financial instrument fair value against book value breakdown.
Change
Disclosure of development expenditure capitalisation criteria expanded.

Accounting for Property Plant and Equipment

Focusing on a sample of 30 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses the types of Property Plant and Equipment recognised by companies and the disclosures given in their respect including those relating to the determination of carrying amounts and depreciation charges as well as the clarity of disclosures in relation to movements during the year.

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.

Anglo American plc Period End 31 December 2010

Submitted by YWang on Wed, 2011-09-21 16:18
Anglo American plc Annual Report 2010
CR Monitor Issue: 
2011/0908
Company covered: 
Anglo American plc
Period End: 
31 December 2010
Report issued on 21 September 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Simplified disclosures relating to special items and remeasurements.
Change
Segmental information about capital expenditure on a cash basis changed to include cash flows on derivatives.
Change
Cash flows from changes in ownership interests in subsidiaries that do not result in loss of control treated as financing activities.
Restatement
The aggregate amount of tax relating to other comprehensive income now includes tax on net exchange gain.
Change
Changes in reconciliations of movements in tangible and intangible assets.
Change
Improved disclosure of the key assumptions used in testing goodwill for impairment.

Investor AB Period End 31 December 2010

Submitted by YWang on Tue, 2011-08-09 15:09
Investor AB Annual Report 2010
CR Monitor Issue: 
2011/0806
Company covered: 
Investor AB
Period End: 
31 December 2010
Report issued on 09 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Two acquisitions made during the year with SEK2.4 billion income statement gain arising from remeasuring previous interest in one company acquired.
Change
Financial statements layout changed following the acquisitions to distinguish operating and investing activities.
Change
The effects of acquisitions on deferred tax disclosed separately.
Change
Land and buildings now reported as separate classes of tangible fixed assets with additions through acquisitions shown separately.

Hikma Pharmaceuticals plc Period End 31 December 2010

Submitted by YWang on Mon, 2011-06-27 12:29
Hikma Pharmaceuticals plc Annual Report 2010
CR Monitor Issue: 
2011/0615
Company covered: 
Hikma Pharmaceuticals plc
Period End: 
31 December 2010
Report issued on 27 June 2011 covered the following practice issues:
Inconsistent
Non-controlling interests that have waived voting rights not recognised.
Change
Acquisition-related costs and gains on revaluation of previously held interest in companies acquired classified as exceptional.
Change
New adjusted earnings per share measure provided.
Change
Depreciation rates on machinery disclosed.
Change
Simplified disclosure for share-based payment transactions.
Change
A previously disclosed dispute resolved to the relevant parties' "mutual satisfaction" but no financial effect indicated.

Renault SA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-05-31 06:23
Renault SA Annual Report 2010
CR Monitor Issue: 
2011/0519
Company covered: 
Renault SA
Period End: 
31 December 2010
Report issued on 31 May 2011 covered the following practice issues:
Divergence
New tax component treated as operating charge in contrast to several other companies, with no disclosure of amount involved.
Change
Significant capital gain on sale of interest in associate and disclosure of related tax benefit, with significant influence maintained despite holding of under 20%.
Change
Deferred tax assets recognised as taxable profits foreseen in calculations.
Change
New disclosure of environmental information is accompanied by detailed 'reasonable assurance' report from auditors.
Change
Maturity analysis of loan to be repaid early reflects company's current intentions.

Marston's plc Period End 2 October 2010

Submitted by Alisdair on Mon, 2011-02-14 08:03
Marston's plc Annual Report 2010
Imprudent treatment to recognise income on a VAT refund boosts profit
UK pub company Marston’s recognises a £4.7 million VAT refund as income, representing 9% of profit, although we consider this treatment, which contrasts with peers, imprudent in the light that it would be repaid if the tax authorities win an appeal.
Counter-intuitive disclosure that the fair value of nil cost options is zero
UK pub company Marston’s granted 2.9 million nil cost options under a Long Term Incentive Plan but states that the fair value per option granted is zero, although share price at the date of grant was 94.6p.

Enterprise Inns plc Period End 30 September 2010

Submitted by Alisdair on Tue, 2011-01-25 14:27
Enterprise Inns plc Annual Report Year
Recognition of a VAT refund as current provision contrasts with peers
UK pub company Enterprise Inns recognises a £6 million VAT refund as a current provision in treatment that contrasts with one group of peers which records a non-current payable or other liability and another group which recognises income.
Net charge on cancellation of swaps as a result of refinancing debt represents 45% of loss
Following refinancing its debt, UK pub company Enterprise Inns cancelled interest rate swaps relating to the original debt and recognises a £14 million net charge on one swap previously accounted for as a cash flow hedge, that represents 45% of pre-tax loss.