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.

Rotork plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
Period End: 
30 June 2013
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
2757 Industrial Machinery
Revised IAS 19 adopted prospectively, with disclosures of retrospective impacts.
Summary information disclosed about post balance sheet date acquisitions.

Rotork plc

Rotork plc Annual Report 2011
CR Monitor Issue: 
Company covered: 
Rotork plc
Period End: 
31 December 2011
Report issued on 22 June 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Contingent consideration recognised as liability following business combination.
Additional earnings per share measure introduced.
Authorised share capital omitted from accounts.
Corporate governance report addresses gender balance on board.