IAS 41 'Agriculture'

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.

Genus plc Monitor

Genus plc Annual Report 2018
CR Monitor Issue: 
2018/1119
Company covered: 
Genus plc
Period End: 
30 June, 2018
Report issued on 27 November 2018 covered the following practice issues:
Change
Reclassification in balance sheet as a result of "refining" biological assets accounting policy.
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenue from contracts with customers", IFRS 16 "Leases"and IFRS 9 "Financial instruments.
Change
Revaluation of deferred tax liabilities following reduction in US corporate tax rate.
Change
Amounts linked to post balance sheet event recognised during the year.
Change
Changes made in segmental reporting disclosure.

Pernod Ricard SA Monitor

Pernod Ricard plc Annual Report 2017
CR Monitor Issue: 
2017/1209
Company covered: 
Pernod Ricard SA
Period End: 
30 June, 2017
Report issued on 19 December 2017 covered the following practice issues:
Pronouncements
Audit report enhanced by inclusion of disclosure on key audit matters.
Pronouncements
Change in accounting policy results in bearer plants being accounted for as property plant and equipment rather than biological assets.
New
Introduction of tabular breakdown of fees paid to auditors.

Fair value measurement disclosures - other assets: an emerging issue under IFRS

This report surveys fair value measurement disclosures on assets other than financial instruments, investment property and bearer plants.  Our sample covers biological assets, land and buildings, non-financial assets held in defined benefit pension schemes and cash-generating units whose recoverable amount is calculated using fair value less costs to sell. We note a predominance of classification at Level 3, indicating use of unobservable inputs.

Bearer plants: an emerging issue under IFRS

This report analyses corporate disclosures on the expected or actual effects of Agriculture: Bearer plants (Amendments to IAS 16 and IAS 41), issued in June 2014, including one case of early adoption and four pre-adoption disclosures.

Svenska Cellulosa Aktiebolaget SCA (PUBL) Period End 31 December 2008

Svenska Cellulosa Aktiebolaget Annual Report 2008

Sales and employee numbers disclosed by country in accounts
Swedish paper manufacturer Svenska Cellulosa Aktiebolaget includes in its audited accounts disclosure of its activities by country, including net sales, average employee numbers, percentage of women employees and salaries.

Associated British Foods plc Period End 15 September 2007

Associated British Foods Annual Report 2007

A badly timed change in health & safety disclosures

UK food producer Associated British Foods reports six fatalities amongst its workforce in a newly acquired business, but excludes the information from its annual report.


No consensus on financial instruments disclosure formats

UK food producer Associated British Foods changes the format of its financial instruments disclosures and relocates information on the risks they are used to manage outside the audited accounts.

Pernod Ricard SA Period End 30 June 2006

Deferred tax recognised on brands
Following acquisition of €6.3 billion brands, French drinks company Pernod Ricard recognises €1.8 billion deferred tax liability that equals 30% of net assets.


Induced conversion costs recognised in income statement
French drinks company Pernod Ricard recognises the €34 million costs of inducing conversion of a convertible bond in its income statement.