IFRIC 5 'Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds'

Wartsila Corporation Monitor

Wartsila Corporation Annual Report 2018
CR Monitor Issue: 
2019/0505
Company covered: 
Wartsila Corporation
Report issued on 03 May 2019 covered the following practice issues:
Restatement
Segmental reporting information is restated following the transfer of activities between segments.
Restatement
Basic and diluted earnings per share figures are rested following a share issue and adoption of IFRS 15 Revenue from contracts with customers.
Pronouncements
IFRS 15 Revenue from contracts with customers is adopted resulting in a change in revenue recognition policy in respect of long-term service and maintenance agreements and oil and gas construction contracts.
Pronouncements
Extended disclosure is given on the expected future impacts of IFRS 16 Leases .
Change
Management judgement and use of estimate disclosures are extended to include additional information in respect of revenue recognition.
Change
A profit is recognised on the disposal of a business.