Barr (A.G.)

A.G. BARR p.l.c Monitor

A.G. BARR p.l.c Annual Report 2016
CR Monitor Issue: 
Company covered: 
A.G. BARR p.l.c
Period End: 
28 January, 2017
Report issued on 03 October 2017 covered the following practice issues:
Disclosure of expected impact of adoption of IFRS 16 "Leases" including quantification.
Pension "curtailment" gain recognised following closure of scheme to future accrual.
Exceptional items highlighted in a separate column on the face of the income statement.
Changes to non-audit fees policy linked to FRC ethical standard

Disclosure of the impacts of IFRS 16 "Leases"

IFRS 16 “Leases” will fundamentally change accounting by lessees as it requires assets previously off balance sheet under operating lease arrangements to be brought on balance sheet as is currently the case for finance leased assets. As a result on application companies will recognise both additional assets and additional liabilities. Consequently there will also be knock on effects in the income statement as operating lease charges are replaced by a depreciation charge and a finance expense. This report analyses the financial statements of a range of companies to firstly establish whether there has been any early adoption and secondly to establish what companies are disclosing in respect of IFRS 16 and its future impacts.