Just Eat

Disclosure of judgements and estimates

At the end of 2017, the FRC published a thematic review which focused on the disclosure of critical judgements and sources of estimation uncertainty, a requirement of IAS 1 Presentation of Financial Statements. This review was carried out in part because, in its 2016-17 corporate reporting review, the FRC found that companies were not making sufficiently clear disclosures in this area.

Unfortunately, despite this, judgements and estimates still represent an area of difficulty for companies, remaining the area most commonly raised by the Corporate Reporting Review Panel in reviewing company accounts during 2017–18. Common issues include poor explanations, a failure to separate judgements and estimates clearly and discussion of judgements and estimates that were not considered by the company to be significant or material. In some cases the FRC noted that disclosures elsewhere in the accounts suggested that significant judgements were made but these were not included in or referred to in the IAS 1 disclosures.

As a result of this, the FRC can be expected to continue its scrutiny of these disclosures and to challenge companies that do not provide clear, specific disclosures that meet the requirements of IAS 1.

This report analyses the disclosures about judgements and estimates which have been included in the consolidated annual reports of 20 UK listed companies selected at random from the FTSE 350.

JUST EAT plc Monitor

JUST EAT plc  Annual Report 2015
CR Monitor Issue: 
Company covered: 
Period End: 
31 December, 2015
Report issued on 24 May 2016 covered the following practice issues:
Fair value loss on cash flow hedge relating to business combination results in increased goodwill.
Segmental information restated to reflect separately businesses at different stages of development.
Reference made to joint venture partners in relation to an associated undertaking.
Cash outflow on acquisition of minority interest reflected as financing cash flow.
Reasonably possible change in assumption would lead to impairment of cash generating units.