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.
Profiting at employees’ expense Dutch consumer electronics company Philips Electronics recognises €134 million curtailment gains on retiree medical benefit plans that increase its pre-tax profit by 20%, with further decreases in amounts recognised for obligations attributed to unidentified “plan amendments”.
No disclosure of the current year impact of a change in policy UK tobacco company Imperial Tobacco changes to include the foreign exchange element of derivative fair value movements and exchange differences on borrowings not designated as hedges in net finance costsrather than operating profitbut discloses only the impact on its prior year comparatives.
Derivative assets included in maturity analysis of financial liabilities UK soft drinks company Britvic includes in its maturity analysis of financial liabilities cash flows from derivatives used to hedge private placement notes that are in an asset position.
Disclosure about use of post balance sheet sale price of options as their balance sheet date fair value lacks clarity German car manufacturer Porsche uses post-balance sheet sale price as the fair value of stock options at the balance sheet date but information to support this decision lacks clarity.
Change in policy for several joint ventures shows silent change in previous classification UK housebuilder Bellway discloses achange in accounting policy for non-significant joint ventures which were disclosed as equity accounted entities last year but classified as associates the year before.
Advance consideration for disposal classed as provision UK food manufacturer Associated British Foods classes £122 million advance consideration for an expected disposal as a provision and combines it with deferred consideration for business combinations.