1730 Forestry & Paper

Holmen AB Period End 31 December 2009

Submitted by Company Reporting on Fri, 2010-04-09 10:53
Holmen AB Annual Report 2009
Liquidity disclosures significantly at odds with IFRS
Swedish paper manufacturer Holmen discloses explicitly that it includes only carrying amounts and not undiscounted cash flows in its maturity analysis of SEK5.8 billion financial liabilities, in a presentation that differs from that of other companies and conflicts with IFRS.

UPM-Kymmene Oyj Period End 31 December 2009

Submitted by Company Reporting on Tue, 2010-03-23 12:59
Gain on revaluation of previously held interest in an acquiree not reported as income
Finnish paper company UPM-Kymmene understates by 52% total comprehensive income by excluding a €358 million gain arising from revaluing its previously held interest in a company acquired during the year, thus falling short of IFRS.