Novozymes

Novozymes A/S Monitor

Novozymes A/S Annual Report 2017
CR Monitor Issue: 
2018/0318
Company covered: 
Novozymes A/S
Period End: 
31 December, 2017
Report issued on 27 March 2018 covered the following practice issues:
Pronouncements
Extended disclosure made in respect of new standards issued but not yet adopted namely IFRS 9, IFRS 15 and IFRS 16.
Change
Expansion of risk management disclosures.

Fair value measurement information under IFRS

IFRS 13 “Fair value measurement” sets out a single consistent framework for measuring fair value within IFRS financial statements and outlines a standardised set of disclosures in respect of fair value measurements. IFRS 13 has been mandatory now for some years, with application being required for annual reporting periods beginning on or after 1 January 2013. This report sets out the results of how requirements of the standard have been put into practice, both in terms of measurement and disclosure, in the consolidated financial statements of 139 large public limited companies with year ends between 31 March 2016 and 1 April 2017. It is not an exhaustive study of all aspects of IFRS 13 application and its conclusions are limited to our findings in respect of the areas analysed within the financial statements reviewed.

Novozymes A/S Monitor

Novozymes A/S Annual Report 2016
CR Monitor Issue: 
2017/0709
Company covered: 
Novozymes A/S
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Pronouncements
Introduction of new section "key audit matters" in auditors' report as a result of change in audit standards.
Change
Allocation of goodwill to cash generating units for impairment test purposes changed.
Change
Breakdown of key management remuneration includes "severance costs"
Change
New principal risk factor added in respect of "Delay of BioAg commercialisation"
Pronouncements
Extended discussion on the impacts of new standards including IFRS 9 and IFRS 16.
Change
Goodwill on acquisition of business attributed to synergy benefits.

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.

Accounting estimates and judgements - Novozymes

Period End: 
31 December 2014
Period End Date: 
2014-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
4577 Pharmaceuticals
Auditor: 
PricewaterhouseCoopers

Other Comprehensive Income Novozymes

Period End: 
31 December 2014
Period End Date: 
2014-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
4577 Pharmaceuticals
Auditor: 
PricewaterhouseCoopers

Financial risk disclosures - Novozymes A/S

Period End: 
31 December 2011
Period End Date: 
2011-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
4573 Biotechnology
Auditor: 
PricewaterhouseCoopers

Impairment test - Novozymes A/S

Period End: 
31 December 2010
Period End Date: 
2010-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
4573 Biotechnology
Auditor: 
PricewaterhouseCoopers

Joint Ventures - Novozymes A/S

Period End: 
31 December 2010
Period End Date: 
2010-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
4573 Biotechnology
Auditor: 
PricewaterhouseCoopers