F&C Commercial Property

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.

F&C Commercial Property Trust Limited Monitor

F&C Commercial Property Trust Limited Annual Report 2015
CR Monitor Issue: 
Company covered: 
F&C Commercial Property Trust Limited
Period End: 
31 December, 2015
Report issued on 13 September 2016 covered the following practice issues:
Acquired entity accounted as acquisition of an asset.
Note on ‘List of Subsidiaries’ added, showing pictorial hierarchical relationship.
Disclosure on amendments to the existing Articles of Incorporation given