Hyperinflation

Peugeot S.A. Monitor

Peugeot S.A. Annual Report 2018
CR Monitor Issue: 
2019/0515
Company covered: 
Peugeot S.A.
Period End: 
31 December, 2018
Report issued on 20 May 2019 covered the following practice issues:
Restatement
IAS 29 Financial Reporting in Hyperinflationary Economies is applied to operations in Argentina.
Pronouncements
IFRS 9 Financial instruments is adopted with effect from 1 January 2018 on a prospective basis.
Pronouncements
IFRS 15 Revenue from contracts with customers is adopted with effect from 1 January 2018 on a full retrospective basis.
Pronouncements
Disclosures are included in respect of the expected future impact of IFRS 16 Leases which will be adopted from 1 January 2019.
Change
A change in the estimated useful lives of property plant and equipment is recognised.
Change
Material impairments recognised are explained.

Symrise AG Monitor

Symrise AG Annual Report 2018
CR Monitor Issue: 
2019/0511
Company covered: 
Symrise AG
Period End: 
31 December, 2018
Report issued on 17 May 2019 covered the following practice issues:
Pronouncements
IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers are adopted from 1 January 2018.
Pronouncements
The expected impact of adopting IFRS 16 Leases is disclosed.
Change
The auditors’ report discusses a new key audit matter identified in the current period.
Change
The impact of hyperinflationary conditions existing in two subsidiaries is disclosed.
Change
In the pension disclosures a reconciliation is presented to show the effect of the asset ceiling on plan assets.

LafargeHolcim Ltd Monitor

LafargeHolcim Ltd Annual Report 2018
CR Monitor Issue: 
2019/0406
Company covered: 
LafargeHolcim Ltd
Period End: 
31 December, 2018
Report issued on 9 April 2019 covered the following practice issues:
Restatement
IAS 29 Financial Reporting in Hyperinflationary Economies has been applied to the Argentinian figures included in the consolidation.
Pronouncements
IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments at 1 January 2018: the Report discloses the expected impact of new standards as well as amendments to standards to be adopted in the 2019 and 2020 annual reports.
Change
The retirement benefit plan disclosure presenting the disaggregation of plan assets has changed from the prior year. Additional disclosure is provided on the recent High Court ruling on equal guaranteed minimum pensions in the UK.
Change
An additional product line has been included within segmental reporting.
Change
After a reassessment of strategy, two cement factories in China are no longer classified as held-for-sale.

Pirelli & C SpA Period End 31 December 2009

Pirelli & C SpA Annual Report 2009
Comparative earnings per share significantly “misprinted”
Italian tyre manufacturer Pirelli adjusts significantly its prior year analysis of earnings per share from continuing and discontinued operations and tells us that the comparative information is a misprint.

Banco Bilbao Vizcaya Argentaria SA Period End 31 December 2009

Banco Bilbao Vizcaya Argentaria SA Annual Report 2009
Impairments heightened by write-down of goodwill
Spanish Bank Banco Bilbao Vizcaya Argentaria recognises €1.1 billion impairment of goodwill in businesses in the USA that reduces pre-tax profit by 16%, adding that reasonably possible changes to key assumptions may lead to further charges in the future.

Disclosures on contracts with resale and repurchase commitments revised and extended
Spanish bank Banco Bilbao Vizcaya Argentaria restates upwards by 2.3% the comparative amount of financial instruments purchased with resale commitments, telling us that it now includes contracts with the Bank of Spain.

Banco Bilbao Vizcaya Argentaria SA Period End 31 December 2009

Banco Bilbao Vizcaya Argentaria SA Annual Report 2009
Impairments heightened by write-down of goodwill
Spanish Bank Banco Bilbao Vizcaya Argentaria recognises €1.1 billion impairment of goodwill in businesses in the USA that reduces pre-tax profit by 16%, adding that reasonably possible changes to key assumptions may lead to further charges in the future.

Disclosures on contracts with resale and repurchase commitments revised and extended
Spanish bank Banco Bilbao Vizcaya Argentaria restates upwards by 2.3% the comparative amount of financial instruments purchased with resale commitments, telling us that it now includes contracts with the Bank of Spain.