Carillion

Carillion plc Monitor

Carillion plc Annual Report 2016
CR Monitor Issue: 
2017/0708
Company covered: 
Carillion plc
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Restatement
Finalisation of business acquisition fair values including contingent consideration leads to change in goodwill.
Change
Revenue recognition under licensing agreements identified as a risk of material misstatement by the auditors.
New
Introduction of discussion on alternative performance measures.
Change
Non-recurring items including restructuring costs highlighted separately.
Pronouncements
Improved discussion on new standards covering leases, revenue from contracts with customers and financial instruments.
Change
Brexit identified as new risk factor within tabular disclosure of principal risks.

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.

Carillion plc Monitor

Carillion plc Annual Report 2012
CR Monitor Issue: 
2013/0810
Company covered: 
Carillion plc
Period End: 
31 December 2012
Report issued on 20 August 2013 covered the following practice issues:
Restatement
Reclassification of gains on Public Private Partnership disposals increases operating profit by 8.7%.
Pronouncements
Impact of revised IAS 19 on pensions costs quantified.
Divergence
Disclosure of key management compensation collected in one note.
Change
Tabular explanation of elements of directors' remuneration.

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.  

Carillion plc

Carillion plc Annual Report 2011
CR Monitor Issue: 
2012/0602
Company covered: 
Carillion plc
Period End: 
31 December 2011
Report issued on 08 June 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Reduction in value of prior holding recognised in income statement in context of business combination.
Change
Dividend waiver used to fund share-based payments leads to recognition of operating charge.
Change
Accounting policies for revenue and inventory elaborated following acquisition.
Divergence
Unquantified disclosures on impending changes to pensions accounting.
Restatement
Unexplained reclassification of amounts formerly classified as owed to and by joint ventures.