Société Générale

Société Générale Period End 31 December 2007

Société Générale Annual Report Year 2008

€6.4 billion loss incurred in 2008 recognised in 2007

French financial services company Société Générale invokes true and fair override to recognise a loss of €6.4 billion arising in 2008, reducing profit by 77%, but does not explain fully its reasons for non-compliance with IFRS.

 

 

Société Générale Period End 31 December 2006

Treating acquisition of minority interests as movement in equity anticipates proposed amendments to IFRSs

French financial services company Société Générale accounts for any surplus paid for acquisition of minority interests as movement in equity rather than as goodwill.

Société Générale Period End 31 December 2005

Debt or equity: the question remains
French banking and insurance company Société Générale classifies €11.6 billion perpetual subordinated notes, issued by a subsidiary, as debt instruments.


Provision made under shadow accounting
French banking and insurance company Société Générale adopts shadow accounting under IFRS 4 "Insurance contracts" and recognises €3.2 billion provision.