Associated undertakings

Koninklijke DSM NV Monitor

Koninklijke DSM NV Annual Report 2017
CR Monitor Issue: 
2018/0403
Company covered: 
Koninklijke DSM NV
Period End: 
31 December, 2017
Report issued on 03 April 2018 covered the following practice issues:
Pronouncements
Extended disclosure on the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases".
Restatement
Financial derivatives analysed between current and non-current classifications.
Change
Investing activities cash inflow recognised on disposal of associated undertaking.
Change
Auditors identify disposal of associated undertaking as a key audit matter.

British Land Company PLC Monitor

British Land Company PLC Annual Report 2016
CR Monitor Issue: 
2017/0208
Company covered: 
British Land Company PLC
Period End: 
31 March, 2016
Report issued on 20 February 2017 covered the following practice issues:
Change
Change in format of the income statement.
Change
Cash flow from acquisition of additional interest in subsidiary reclassified to financing activities from investing activities.
Change
Identification of new reportable segment.
Change
Disclosure of new input used for valuation of investment property.
Change
Change in presentation for calculation of leverage ratio and financial covenants applicable for unsecured debt.
Divergence
Disclosure of summarised financial information in respect of subsidiary with material non-controlling interests not fully in line with information suggested by IFRS.

Big Yellow Group PLC Monitor

Big Yellow Group PLC  Annual Report 2016
CR Monitor Issue: 
2016/1007
Company covered: 
Big Yellow Group PLC
Period End: 
31 March, 2016
Report issued on 17 October 2016 covered the following practice issues:
Change
Discussion of a new area of risk in the table of Principal risks.
Change
Restatement of summarised financial information for investment in associate following change in accounting treatment of a lease.
Restatement
Expanded breakdown of cash flows from borrowings within financing activity section of the cash flow statement.
New
Acquisition of new stores identified as post balance sheet event.
Change
Viability statement looking forward for four years presented.
Pronouncements
Presentation of a full list of subsidiaries rather than just principal subsidiaries.

BGEO Group plc Monitor

BGEO Group plc Annual Report 2015
CR Monitor Issue: 
2016/0701
Company covered: 
BGEO Group plc
Period End: 
31 December, 2015
Report issued on 26 July 2016 covered the following practice issues:
Restatement
Statement of financial position as well as income statement are bifurcated into "Banking Business" and "Investment Business" as a result of a change in regulation.
Change
Change in what is considered to be revenue.
Restatement
Segmental information restated following a change of business focus.
Change
Clarity of audit report enhanced through the use of graphical and tabular presentations.
Change
A change in functional currency to reflect the region of primary operation.
Change
Summarised information presented in respect of associated undertaking.

JUST EAT plc Monitor

JUST EAT plc  Annual Report 2015
CR Monitor Issue: 
2016/0509
Company covered: 
JUST EAT plc
Period End: 
31 December, 2015
Report issued on 24 May 2016 covered the following practice issues:
New
Fair value loss on cash flow hedge relating to business combination results in increased goodwill.
Restatement
Segmental information restated to reflect separately businesses at different stages of development.
Divergence
Reference made to joint venture partners in relation to an associated undertaking.
New
Cash outflow on acquisition of minority interest reflected as financing cash flow.
Change
Reasonably possible change in assumption would lead to impairment of cash generating units.

Rexam plc Monitor

Rexam plc Annual Report 2015
CR Monitor Issue: 
2016/0505
Company covered: 
Rexam plc
Period End: 
31 December, 2015
Report issued on 10 May 2016 covered the following practice issues:
Change
Takeover of the company awaiting shareholder's approval.
Divergence
Effect of change in estimated useful life of machinery for future period is not shown.
Change
Deferred tax assets recognised in respect of tax losses now considered recoverable.
Restatement
Settlement of government indirect tax incentive restated from financing cash flow to operating cash flow.
New
Goodwill recognised on business combination.
Change
Extended associated undertaking summary financial information including current and non-current assets.

Loans to Equity Accounted Investments, an emerging issue under IFRS

This report focuses on companies’ presentation of interests in equity accounted investments. More specifically it considers the level of transparency with which loans and advances to such investments are identified as part of the total interests held. It will be examined whether such non-equity financing is combined with equity accounted investments on the face of the statement of financial position leading to IFRS non-compliance. 

Gains And Losses Linked To Associated Undertakings, an emerging issue under IFRS

This report examines where in the income statement gains and losses linked to an associate, that are separate from the share of profit or loss of the associate, are presented.

Randstad Holding NV Period End 31 December 2010

Randstad Holding NV Annual Report 2010
Choice of classification of local value-added tax charge increases pre-tax profit
Dutch recruitment agency Randstad classifies as income tax a €39.2 million tax charge arising from a component of French business tax calculated on value-added, in a treatment that leads to 12.3% increase in profit before tax and illustrates lack of comparability in the absence of specific IFRS guidance.