Associated British Foods

Accounting for Joint Ventures

This report considers recent corporate reporting of joint ventures by a sample drawn from 24 large, listed European companies, supplemented by Company Reporting data and comment. All companies report under IFRS, following European Union requirements. We highlight the accounting methods employed by the companies in our sample. We also comment on company joint venture disclosure practice. 

Impacts Of Changes To Corporation Tax

This report reviews a small sample of UK companies  that disclose the impact of the government’s announced change to corporation tax.

Accounting for business combinations

Focusing on a sample drawn from 24 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses company disclosures in relation to assets acquired and liabilities assumed with particular attention paid to intangible assets. Secondly, it draws on the disclosures provided regarding the reasons why company goodwill arises. A further area of interest is the treatment of non-controlling interests.

Critical judgements and estimates

This report focuses on a sample drawn from 24 large listed European companies and reviews the following: a) whether a company discloses key estimates and other significant judgements and the location of the disclosure is; b) whether disclosures of significant judgements other than those involving estimation and key sources of estimation uncertainty are both made; c) the length of the disclosures and d) the areas covered in terms of key sources of estimation uncertainty. 

Pensions

This report focuses on a sample drawn from 24 large listed European companies and considers recent corporate reporting of pensions. Within this wide area, we first identify 22 companies which have defined benefit schemes and then focus on disclosure of recent expected rates of return on pension assets by country and asset class, and mortality assumptions.

Impairment tests

This report focuses on a sample drawn from 24 large listed European companies and analyses impairment test disclosures with particular attention being paid to goodwill and other intangibles with indefinite useful lives. Firstly, it considers the allocation of assets to cash-generating units (CGUs). Secondly, it examines assumptions made such as cash flow projections, discount rates and growth rates. Finally, it considers the sensitivity of these assumptions to change. 

Change Of Pensions Inflation Index Measure

This report reviews the accounting treatment adopted by those companies that have moved to CPI as the inflation measure on which pension increases are based.