Denmark

AP Moller Maersk A/S Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-07-27 15:19
AP Moller Maersk A/S Annual Report 2010
CR Monitor Issue: 
2011/0713
Company covered: 
AP Moller Maersk A/S
Period End: 
31 December 2010
Report issued on 27 July 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Pre-acquisition book values not identified.
Change
Impairment test basis altered.
Restatement
Provisions relating to legal disputes identified separately.
Restatement
Deferred tax assets and liabilities grossed up.
Restatement
Amounts on the face of the income statement no longer aggregated.
Change
Financial impact of post balance sheet event not quantified.

Carlsberg A/S Period End 31 December 2010

Submitted by YWang on Tue, 2011-07-05 08:40
Carlsberg A/S Annual Report 2010
CR Monitor Issue: 
2011/0701
Company covered: 
Carlsberg A/S
Period End: 
31 December 2010
Report issued on 05 July 2011 covered the following practice issues:
Change
Revaluation of previously held interests in companies acquired this year increases profit by 8.3%.
Change
Revised disclosure of remuneration to executive board and key management personnel.
Change
Total comprehensive income now disaggregated in statement of changes in equity.
Change
Disclosure of allocation of goodwill to cash-generating units no longer aggregated into segments.
Restatement
Restatement of prior year deferred tax set-off amount without explanation.
Change
Increase in impairments prompts disclosure of the events and circumstances that led to their recognition.

Novozymes A/S Period End 31 December 2010

Submitted by YWang on Fri, 2011-06-24 10:55
Novozymes A/S Annual Report 2010
CR Monitor Issue: 
2011/0613
Company covered: 
Novozymes A/S
Period End: 
31 December 2010
Report issued on 24 June 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Impairments recorded against know-how intangible assets and empty buildings.
Change
Useful lives of several know-how intangible assets reassessed and reduced.
Change
Improved disclosure of management remuneration.

Danske Bank A/S Period End 31 December 2010

Submitted by YWang on Tue, 2011-05-03 07:22
Danske Bank A/S Annual Report 2010
CR Monitor Issue: 
2011/0502
Company covered: 
Danske Bank A/S
Period End: 
31 December 2010
Report issued on 03 May 2011 covered the following practice issues:
Change
Significant gain recognised after losing significant influence as a result of a previous associate merging with another company.
Change
Total comprehensive income disaggregated within statement of changes in equity.
Change
Analysis of exposure of credit risk disaggregated further.
Change
Components of "deposits" balance sheet line item now analysed in a note.
Change
Consolidation of a company acquired last year and classified as held for sale as it has not been sold after 12 months.
Change
Additional ratio analysis in segmental disclosures.

Novo Nordisk A/S Period End 31 December 2010

Submitted by Alisdair on Wed, 2011-04-06 07:43
Novo Nordisk A/S Annual Report 2010
Gain on disposal included in share of profit of associates income statement line item
Danish healthcare company Novo Nordisk includes a DKK1.06 billion gain on disposal of an associate in its income statement line share of profit of associated companies.

Vestas Wind Systems A/S Period End 31 December 2010

Submitted by Alisdair on Wed, 2011-03-30 06:49
Vestas Wind Systems A/S Annual Report 2010
Change in revenue recognition policy significantly reduces prior year profit and equity
Danish wind turbine manufacturer Vestas Wind Systems changes its policies to delay the timing of recognising revenue from supply-and-installation projects and to record warranty provisions at an earlier time and the resultant restatements of prior year comparatives reduce pre-tax profit by 75% and equity by 24%.
Restructuring costs reduce profit by 40%
Danish wind turbine manufacturer Vestas Wind Systems records €158 million costs on a restructuring, mainly relating to impairments and staff costs, and reports them as a separate line item titled “one-off costs”.

Carlsberg A/S Period End 31 December 2009

Submitted by Company Reporting on Thu, 2010-04-15 13:19
Carlsberg A/S Annual Report 2009
Reallocation of goodwill for which impairment testing assumptions not disclosed previously
Danish brewer Carlsberg reallocates the goodwill in a separate cash-generating unit (CGU) to its Northern & Western Europe CGU and, although not stated explicitly in its previous disclosure, tells us that the assumptions used in testing goodwill for impairment in prior years were the same for both CGUs.

Novo Nordisk A/S Period End 31 December 2009

Submitted by Company Reporting on Wed, 2010-03-31 14:00
Aggregation criteria applied to disclosure of other comprehensive income and tax effects
Danish healthcare company Novo Nordisk applies aggregation to the components and tax effects of other comprehensive income that, on the face of it, conflicts with IFRS but tells us that this is on the grounds of materiality.

Danske Bank A/S Period End 31 December 2009

Submitted by Company Reporting on Thu, 2010-03-18 14:53

Proposal to end deferral loophole on corporate bonds draws comment
Danish Bank Danske Bank draws attention, in its discussion of impending changes in IFRS, to the implicit intention of the International Accounting Standards Board no longer to permit deferral of movements in the fair value of corporate bonds, the company having last year adopted this classification for DKK117 billion corporate bonds.