IAS 2 'Inventories'

Yara International ASA Monitor

Yara International ASA Annual Report 2017
CR Monitor Issue: 
2018/0718
Company covered: 
Yara International ASA
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Pronouncements
Disclosure of impact of new standards namely IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", and IFRS 16 "Leases".
Change
Extended disclosure in respect of restructuring provision linked to decision to close industrial site.
Change
Extended disclosure in respect of contingent liabilities and contingent assets.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows"
Restatement
Restatement of gains and losses on financial instruments without explanation.
Restatement
Restatement of quantitative information linked to liquidity and currency risk disclosures.

BT Group plc Monitor

BT Group plc Annual Report 2016
CR Monitor Issue: 
2017/0403
Company covered: 
BT Group plc
Period End: 
31 March, 2016
Report issued on 04 April 2017 covered the following practice issues:
Change
Business combination disclosures include detailed goodwill explanation and fair value information.
Change
New mobile reporting segment identified following business combination.
Change
Commissions paid to dealers identified as an area of audit focus.
Change
Disclosure of critical accounting estimates and judgements extended.
Pronouncements
Detailed disclosure on the future impacts of IFRS 15.
Change
Extended disclosure of inventory information including disaggregation.

Brexit Disclosures in Listed Company Annual reports

The referendum vote to leave the European Union (EU) has undoubtedly led to uncertainty for business and will potentially have far reaching impacts for companies from many different industries. This report, pulled together in March 2017, focuses on the information that companies have disclosed within their annual reports during the latter half of 2016. It sets out disclosures around risk as well as the disclosure of Brexit impacts which have already been felt and the resulting ramifications.

Halfords Group plc Monitor

Halfords Group plc Annual Report 2016
CR Monitor Issue: 
2017/0110
Company covered: 
Halfords Group plc
Period End: 
1 April, 2016
Report issued on 23 January 2017 covered the following practice issues:
Change
Discussion of business model altered to include reference to integrated approach to sustainable growth.
Change
Performance criteria for share based payments altered to reflect compound annual growth rate in EBITDA target over the vesting period.
Restatement
Total future minimum income receipts from sublet restated without explanation.
Restatement
Provision to carry inventories at fair value less costs to sell restated although there is no specific disclosure of the carrying value of inventories carried at fair value less costs to sell.
Change
Unsecured bank overdraft carried at amortised cost included in analysis of fair values.

Vesuvius plc Monitor

Vesuvius plc Annual Report 2015
CR Monitor Issue: 
2016/0801
Company covered: 
Vesuvius plc
Period End: 
31 December, 2015
Report issued on 12 August 2016 covered the following practice issues:
Change
Option pricing models employed when valuing share-based payments identified.
Change
Malus provision added to existing clawback arrangements in respect of directors remuneration.
New
Restructuring costs identified as a separately reported item.
Change
Obsolete stock provision identified and quantified.
Change
Explanation of what goodwill on business combinations represents.

Inventories - UCB SA

Period End: 
31 December, 2015
Period End Date: 
2015-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
4573 Biotechnology
Auditor: 
PricewaterhouseCoopers

Electrocomponents plc Monitor

Electrocomponents plc Annual Report 2015
CR Monitor Issue: 
2015/1106
Company covered: 
Electrocomponents plc
Period End: 
31 March, 2015
Report issued on 24 November 2015 covered the following practice issues:
New
Past service gain on defined benefit pension plan increases profit before tax by 26.9%.
Change
Vendor rebates recognised on accruals basis under new guidelines.

Infineon Technologies AG Monitor

Infineon Technologies AG Annual Report 2013
CR Monitor Issue: 
2013/0106
Company covered: 
Infineon Technologies AG
Period End: 
30 September 2013
Report issued on 13 January 2014 covered the following practice issues:
Change
Suit against the company under insolvency law disclosed and quantified.
Change
Gain on reversal in allowance for slow moving inventories disclosed.
Restatement
Correction of prior period error in table of property, plant and equipment, but no impact on net book values.

Sierra Rutile Limited Monitor

Sierra Rutile Limited Annual Report 2012
CR Monitor Issue: 
2013/0705
Company covered: 
Sierra Rutile Limited
Period End: 
31 December 2012
Report issued on 08 July 2013 covered the following practice issues:
Change
Non-controlling interest eliminated as share-based tax arrangement ends.
Change
Some inventory reclassified prospectively from main product to by-product.

Valiant Petroleum plc Monitor

Valiant Petroleum plc Annual Report 2012
CR Monitor Issue: 
2013/0414
Company covered: 
Valiant Petroleum plc
Period End: 
31 December 2012
Report issued on 22 April 2013 covered the following practice issues:
Change
Inventory valuation policy amended for petroleum products.
Change
Terms of recommended takeover disclosed.
Change
Exploration and evaluation expenses disclosed on face of income statement.