Aggreko

Aggreko plc Monitor

Company Name Annual Report Year
CR Monitor Issue: 
2018/0605
Company covered: 
Aggreko plc
Period End: 
31 December, 2017
Report issued on 05 June 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in relation to new standards not yet effective, IFRS 15, IFRS 9, and IFRS 16.
Change
Disclosure of business acquisition in post balance sheet events note.

Aggreko Plc Monitor

Aggreko Plc Annual Report 2016
CR Monitor Issue: 
2017/0909
Company covered: 
Aggreko Plc
Period End: 
31 December, 2016
Report issued on 19 September 2017 covered the following practice issues:
Restatement
Change in contract organisational management structure leads to restatement of segment disclosures.
Change
Segment disclosures expanded to include geographic breakdown of revenue and non-current assets.
Change
Change in depreciation life of tangible fixed asset accounted for prospectively.
Pronouncements
Expanded disclosure of future impending impacts of new standard IFRS 15 "Revenue from contracts with customers" without quantification.
Change
Auditors discussion of audit scope enhanced by inclusion of pie charts.
Change
Sensitivity analysis included in discussion of area of significant judgement and estimate in relation to taxation.

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.

Aggreko plc Monitor

Aggreko plc Annual Report 2015
CR Monitor Issue: 
2016/1002
Company covered: 
Aggreko plc
Period End: 
31 December, 2015
Report issued on 03 October 2016 covered the following practice issues:
Change
Change in segmental analysis following company reorganisation.
New
Change in income statement format to highlight exceptional items.
Change
Business combination disclosures including the fair value of net assets acquired and revenues form the acquired entity disclosed in a separate note.
Change
Extended disclosure of deferred tax by individual temporary difference.

FRS 101 "Reduced disclosure framework"- A review of application in parent company accounts of IFRS groups

The preparation of parent company financial statements is something that all consolidated IFRS groups have to consider. In light of the great level of recent change in this area in the UK this represents a one-off report giving guidance on the preparation of parent company financial statements under FRS 101 "Reduced Disclosure Framework". It focuses on UK groups that prepare IFRS consolidated accounts.

The report sets out the key findings from our review of the first-time application of FRS 101 “Reduced Disclosure Framework” by a group of 29 parent companies that prepare consolidated financial statements under IFRS.  We consider a number of points including: how companies informed shareholders of the intention to implement FRS 101; the format of the primary financial statements; disclosure of the list of exemptions taken; the concept of equivalent disclosure in the consolidated financial statements; the length of company financial statements under FRS 101; and changes in accounting policy on adoption. 

Aggreko plc

Aggreko plc Annual Report 2011
CR Monitor Issue: 
2012/0803
Company covered: 
Aggreko plc
Period End: 
31 December 2011
Report issued on 06 August 2012 covered the following practice issues:
Change
Change in legislation leads to exceptional tax gain.
Change
Tax recognised directly in equity identified in table as relating to share-based payments.
Restatement
Cash flows from interest paid and received treated as operating activities.