Royal DSM

Koninklijke DSM NV Monitor

Koninklijke DSM NV Annual Report 2017
CR Monitor Issue: 
Company covered: 
Koninklijke DSM NV
Period End: 
31 December, 2017
Report issued on 03 April 2018 covered the following practice issues:
Extended disclosure on the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases".
Financial derivatives analysed between current and non-current classifications.
Investing activities cash inflow recognised on disposal of associated undertaking.
Auditors identify disposal of associated undertaking as a key audit matter.

Koninklijke DSM N.V. Monitor

Koninklijke DSM N.V. Annual Report 2016
CR Monitor Issue: 
Company covered: 
Koninklijke DSM N.V.
Period End: 
31 December, 2016
Report issued on 24 October 2017 covered the following practice issues:
Income statement format altered to exclude disclosure of exceptional items.
Cash received following reduction of holding in associated undertaking reflected as a cash flow from investing activities.
Presentation of related party disclosures enhanced to show transactions with associates and joint ventures separately.
Reconciliation of movements in financial instruments extended to include an analysis of loans to associates and joint ventures.
Disclosure of key audit matters extended to include "valuation of a joint venture" and "alternative performance measures" as new areas.
Post balance sheet business acquisition highlighted in subsequent events note.

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.

Joint Arrangements: An emerging issue under IFRS

This report focuses on the financial reporting by entities that have an interest in arrangements which are controlled jointly with another party, in light of the requirements of IFRS 11 “Joint arrangements”. It covers company application of the concept of joint control taking into account the guidance given by IFRS to companies to determine whether arrangements fall within the scope of IFRS 11. It further covers the review undertaken by companies based on the rights and obligations held to determine whether the joint arrangements that exist are considered joint ventures or joint operations and the subsequent accounting of such arrangements in line with the equity accounting method as per IAS 28 “Investments in associates and joint ventures” or of the entities proportionate share of assets, liabilities, revenue and expenses respectively. Finally it considers the financial and presentational impacts of IFRS 11 adoption.   

The classification of acquisition transaction costs, an emerging issue under IFRS

This report focuses on companies’ presentation of acquisition-related costs both in the income and cash flow statements. More specifically it considers where such costs are reflected in the income statement and whether they are identified as operating or investing in nature within the cash flow statement.  

Related Party Disclosures under IFRS

Focusing on a sample of 30 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses the types of related parties identified and the form that company disclosures take.

Accounting for Property Plant and Equipment under IFRS

Focusing on a sample of 30 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses the types of Property Plant and Equipment recognised by companies and the disclosures given in their respect including those relating to the determination of carrying amounts and depreciation charges as well as the clarity of disclosures in relation to movements during the year.

Royal DSM NV Period End 31 December 2008

Royal DSM Annual Report 2008

Impending increase in pension charge equals 9.7% of profit
Dutch life and materials sciences company Royal DSM discloses that its defined benefit pension charge will increase 24-fold to €73 million, representing 9.7% of current year profit, following actuarial losses that reduce equity by over a fifth.