IAS 38 'Intangible assets'

DS Smith Plc Monitor

 DS Smith Plc Annual Report 2018
CR Monitor Issue: 
2019/0117
Company covered: 
DS Smith Plc
Period End: 
30 April, 2018
Report issued on 29 January 2019 covered the following practice issues:
Change
Detailed disclosure in respect of business acquisitions made during the year.
New
Recognition of biological assets linked to business acquisitions.
Change
Acquisition accounting identified as key audit matter.
Change
Alteration to reporting segments.
Pronouncements
Additional disclosure in respect of the expected impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers, IFRS 16 “leases”, and IFRIC 23 “Uncertainty over income tax treatment”.
Change
Change in allocation of goodwill to cash generating units for impairment test purposes.

UBM plc Monitor

UBM plc Annual Report 2017
CR Monitor Issue: 
2018/1012
Company covered: 
UBM plc
Period End: 
31 December, 2017
Report issued on 16 October 2018 covered the following practice issues:
Change
Discussion of a new key audit matter included in audit report.
Change
Separate sections outlining director and auditor responsibilities included in auditors' report.
Restatement
Finalisation of prior year business combination amounts results in prior year adjustments.
Change
Changes recognised in respect of operating segments following disposal.
Change
Deferred tax changes recognised following changes to US tax legislation.
Change
Re-appraisal of brands acquired in the previous year resulting in an increase in the useful economic life.

Drax Group plc Monitor

Drax Group plc Annual Report 2017
CR Monitor Issue: 
2018/0811
Company covered: 
Drax Group plc
Period End: 
31 December, 2017
Report issued on 20 August 2018 covered the following practice issues:
Pronouncements
Extended disclosure in relation to the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Discussion of key audit matters included in auditor's report.
Change
Disclosure of a qualitative description of the factors that make up business acquisition goodwill.
Change
Expansion of detail in the income statement linked to inclusion of additional line items.
Change
Detailed disclosure of new share-based payment plans.
Change
Enhanced segmental reporting including disclosure of capital expenditure by segment.

Deutsche Post AG Monitor

Deutsche Post AG Annual Report 2017
CR Monitor Issue: 
2018/0805
Company covered: 
Deutsche Post AG
Period End: 
31 December, 2017
Report issued on 07 August 2018 covered the following practice issues:
Pronouncements
Disclosure of the future impacts of new standards that are currently not effective: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 Statement of cash flows".
Change
Detailed disclosure in respect of business acquired during the year.
Restatement
Restatement of segmental disclosures following reclassification of businesses between segments.
Change
Reduction in useful life of intangible asset results in additional amortisation.

Rolls-Royce Holdings plc Monitor

Rolls-Royce Holdings plc Annual Report 2017
CR Monitor Issue: 
2018/0715
Company covered: 
Rolls-Royce Holdings plc
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure with respect to new accounting standards including quantification in respect of IFRS 15 "Revenues from contracts with customers".
Change
Disclosure of a reduction in the number of reporting segments linked to business simplification.
Change
Enhanced disclosure in respect of capitalisation of internally generated development costs.
Restatement
Restatement of comparative lease amount linked to correction in exchange rate applied.
Change
Bargain purchase gain recognised in respect of step acquisition.
Change
Additional deferred tax asset recognised following a change in UK tax law.

BAE Systems plc Monitor

BAE systems plc Annual Report 2017
CR Monitor Issue: 
2018/0620
Company covered: 
BAE systems plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenues from contracts with customers" including detailed quantification.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Software assets and development costs identified as separate classes of intangible asset.

Beazley plc Monitor

Beazley plc Annual Report 2017
CR Monitor Issue: 
2018/0616
Company covered: 
Beazley plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of new standards: IFRS 17 "Insurance contracts"; IFRS 16 "Leases"; IFRS 9 "Financial instruments"; and IFRS 15 "Revenues from contracts with customers".
New
Recognition of intangible assets following a business combination.
Restatement
Restatement of segmental reporting structure.
Change
High yield bond funds included in analysis of unconsolidated structured entities.
Change
Auditors' report includes separate sections discussing director and auditor responsibilities.
Change
Extended disclosure of principal risks.

Associated British Foods plc Monitor

Associated British Foods plc Annual Report 2017
CR Monitor Issue: 
2018/0112
Company covered: 
Associated British Foods plc
Period End: 
16 September, 2017
Report issued on 23 January 2018 covered the following practice issues:
Change
Change in length of reporting period results in lack of comparability.
Change
Aggregate information disclosed in respect of business combinations.
Change
Disposal gain on sale of two businesses previously classified as held for sale separately highlighted on the face of the income statement.
Change
Tabular disclosure of principal risks includes new risk factor in respect of "Socio-political uncertainty".
Change
Key audit matters section included in the auditors' report.

Bunzl plc Monitor

Bunzl plc Annual Report 2016
CR Monitor Issue: 
2017/0813
Company covered: 
Bunzl plc
Period End: 
31 December, 2016
Report issued on 28 August 2017 covered the following practice issues:
Pronouncements
Change in accounting policy in respect of cash pooling balances in line with IFRIC guidance.
Change
Software assets re-classified from property plant and equipment to intangible assets.
Pronouncements
Disclosure of future impacts of impending standards, IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases", with no quantification.
Change
Results from US arm of European based business reclassified from European to North American segment following change in management location.
New
Tabular disclosure added summarising business acquisitions completed during the year.

Travis Perkins plc Monitor

Travis Perkins plc Annual Report 2016
CR Monitor Issue: 
2017/0808
Company covered: 
Travis Perkins plc
Period End: 
31 December, 2016
Report issued on 15 August 2017 covered the following practice issues:
Change
Disclosure of a new note on "revenue reconciliation and like-for-like sales".
Change
Identification of "UK decision to leave the European Union", "Legislation" and "Corporation tax" as new areas of principal risk.
Change
Disclosure of software “assets under construction” as a separate class of intangible asset.
Change
Introduction of graphical presentations to the audit report illustrating materiality and audit scope.
Restatement
Restatement of segment disclosure of capital expenditure without explanation.