3353 Automobiles

Bayerische Motoren Werke AG Period End 31 December 2010

Submitted by YWang on Fri, 2011-08-19 09:59
Bayerische Motoren Werke AG Annual Report 2010
CR Monitor Issue: 
2011/0813
Company covered: 
Bayerische Motoren Werke AG
Period End: 
31 December 2010
Report issued on 19 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Divergence
Reassigning hedges to the held for trading category introduces an apparent non-compliance with IFRS.
Change
Fair value hierarchy disclosure improved by inclusion of hedges.
Change
Lack of clarity in disclosure of refinement of the inputs to the model used to fair value derivatives.
Restatement
No explanation for restating comparative maturity analysis of financial liabilities on derivatives.
Change
Disclosure of auditors' fees now includes those paid to auditors of a subsidiary in the CIS counties.
Change
China now reported separately in the geographical segmental disclosures following a significant increase in revenue from that country.

Daimler AG Period End 31 December 2010

Submitted by YWang on Thu, 2011-08-04 10:09
Daimler AG Annual Report 2010
CR Monitor Issue: 
2011/0805
Company covered: 
Daimler AG
Period End: 
31 December 2010
Report issued on 04 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Improved disclosure of "accounting estimates and assessments".
Change
Prejudicial override invoked not to provide full information on the European Commission's anti-trust investigations.
Change
Marketable debt securities now presented separately to help users determine liquidity.
Change
Nominal values of derivative financial instruments disclosed.

Renault SA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-05-31 06:23
Renault SA Annual Report 2010
CR Monitor Issue: 
2011/0519
Company covered: 
Renault SA
Period End: 
31 December 2010
Report issued on 31 May 2011 covered the following practice issues:
Divergence
New tax component treated as operating charge in contrast to several other companies, with no disclosure of amount involved.
Change
Significant capital gain on sale of interest in associate and disclosure of related tax benefit, with significant influence maintained despite holding of under 20%.
Change
Deferred tax assets recognised as taxable profits foreseen in calculations.
Change
New disclosure of environmental information is accompanied by detailed 'reasonable assurance' report from auditors.
Change
Maturity analysis of loan to be repaid early reflects company's current intentions.

Volkswagen AG Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-05-13 09:02
Volkswagen AG Annual Report 2010
CR Monitor Issue: 
2011/0511
Company covered: 
Volkswagen AG
Period End: 
31 December 2010
Report issued on 13 May 2011 covered the following practice issues:
Divergence
Effect of derivative that is not a hedge inaccurately included with disclosures on ineffective hedges.
Change
Cash and cash equivalents reclassified to loans and receivables.
Change
Explanation of significant influence in 19.9% associate.
Change
Revision of segmentation following internal reporting.
Change
Waiver of rights treated as separate transaction to business combination.

Fiat SpA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-04-26 06:10
Fiat SpA Annual Report 2010
CR Monitor Issue: 
2011/0405
Company covered: 
Fiat SpA
Period End: 
31 December 2010
Report issued on 26 April 2011 covered the following practice issues:
Divergence
Inadequate disclosure as demerger treated as outside scope of IFRIC 17.
Change
Reconciliation of US GAAP and IFRS accounts of associate.
Change
Intentions for share capital disclosed in light of demerger.
Change
Implications of demerger for share-based payments disclosed.
Change
Gain on remeasurement of prior holding recognised on acquisition.
Change
Buy-out of non-controlling interest treated as equity transaction.