2733 Electrical Components & Equipment

Schneider Electric SA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-05-05 06:35
Schneider Electric SA Annual Report 2010
CR Monitor Issue: 
2011/0504
Company covered: 
Schneider Electric SA
Period End: 
31 December 2010
Report issued on 05 May 2011 covered the following practice issues:
Restatement
Deferred tax restated for new policy on value-added levy.
Change
French market authority recommendation on minority put options followed.
Divergence
No disclosure of primary reasons for business combination and factors making up goodwill.
Change
New Russian associate to be accounted for with three month delay.
Change
Business acquired provisionally presented as separate segment and not tested for impairment as lack of impairment risk stressed.

Siemens AG Period End 30 September 2010

Submitted by Alisdair on Tue, 2011-03-22 08:00
Siemens AG Annual Report 2010
Restatements not fully explained
German engineering company Siemens increases comparative commitments by €450 million without explanation and moves some derivative instruments from current to non-current, but with a discrepancy between the net changes in the balance sheet and the amounts disclosed in an accounting policy note.
Lower growth estimate leads to goodwill impairment
German engineering company Siemens explains the background to a lower growth estimate that has led to €1.15 billion goodwill impairment that significantly reduces profit.

Siemens AG Period End 30 September 2009

Submitted by Company Reporting on Tue, 2009-12-29 00:00

Fair value hierarchy of financial instruments disclosed and a parametric VaR used to manage market risks
German engineering company Siemens discloses its use of a three-level hierarchy to fair value financial instruments and changes to implement variance-covariance Value at Risk methodology to manage its market risks.