British Sky Broadcasting

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. 

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. 

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. 

British Sky Broadcasting Group plc Period End 30 June 2010

Submitted by SCowley on Thu, 2010-10-21 09:56
British Sky Broadcasting Group plc Annual Report 2010
Related party disclosures scattered through annual report
UK broadcaster British Sky Broadcasting discloses how it intends to manage a potential offer by its largest shareholder to buy out other shareholders but does not, and is not required by IFRS, to concentrate disclosure of all relevant facts within the related parties note.
Litigation settlement boosts profit by 37%
UK broadcaster British Sky Broadcasting discloses that settlement in the current year of litigation, for which it previously disclosed an unquantified contingent asset, increases pre-tax profit by £318 million, or 37%.

British Sky Broadcasting Group plc Period End 30 June 2009

Submitted by Company Reporting on Sun, 2009-09-27 23:00

Impairments against an investment not reversed on the subsequent recovery of its value

UK broadcasting company British Sky Broadcasting (BSkyB) does not reverse the £191 million impairments recognised against an equity instrument classified as available for sale on the subsequent partial recovery in its value that follows IFRS.