Research and development

Rolls-Royce Holdings plc Monitor

Submitted by 609607d4-597e-4... on Tue, 2018-07-17 16:00

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:

Enhanced disclosure with respect to new accounting standards including quantification in respect of IFRS 15 "Revenues from contracts with customers".

Disclosure of a reduction in the number of reporting segments linked to business simplification.

Enhanced disclosure in respect of capitalisation of internally generated development costs.

Restatement of comparative lease amount linked to correction in exchange rate applied.

Bargain purchase gain recognised in respect of step acquisition.

Additional deferred tax asset recognised following a change in UK tax law.

Micro Focus International plc Monitor

Submitted by Pratiksha Mandhane on Mon, 2018-02-12 17:25

CR Monitor Issue:

2018/0204

Company covered:

Micro Focus International plc

Period End:

30 April, 2017

Report issued on 13 February 2018 covered the following practice issues:

Amortisation of capitalised research and development costs reclassified to cost of sales to achieve comparability.

Goodwill recognised on business acquisition represents value of the assembled workforce and expected future economic benefits.

Disclosures on amendments to IFRS 2.

Qualitative disclosures on the future impacts of new revenue standard.

Risk disclosures enhanced by inclusion of flow chart illustrating the risk management cycle.

Disclosure of principal risk factors extended to identify competition as a new risk factor.

Imagination Technologies Group plc Monitor

Submitted by 609607d4-597e-4... on Tue, 2017-04-25 14:27

CR Monitor Issue:

2017/0410

Company covered:

Imagination Technologies Group plc

Period End:

30 April, 2016

Report issued on 25 April 2017 covered the following practice issues:

Breach of a covenant of a borrowing facility results in re-classification of a liability as current.

Discussion of going concern assumption includes reference to covenant breach.

Disclosure of principal risks extended to include discussion of covenant breach.

Income statement format altered with "separately disclosable items" highlighted in a separate column.

Research and development disclosure restated following a more appropriate cost allocation.

Separate disclosure of movements in provisions introduced.

Imagination Technologies Group plc Period End 30 April 2016

Submitted by David Stein on Mon, 2017-04-24 16:35

R&D tax and expenditure credits: an emerging issue under IFRS

This report addresses accounting for the new research and development (R&D) expenditure credit (RDEC) available from Her Majesty's Revenue and Customs (HMRC), the responsible tax authority in the United Kingdom, the previous UK scheme still in force for some companies and a similar scheme in Europe.

WS Atkins plc Group Monitor

Submitted by ea11e72b-32c4-4... on Thu, 2015-10-29 12:44

CR Monitor Issue:

2015/1009

Company covered:

WS Atkins plc Group

Period End:

31 March, 2015

Report issued on 29 October 2015 covered the following practice issues:

R&D tax credits offset against relevant expenditure rather than through tax, but without restatement.

Some joint arrangements classified as joint operations, on adoption of new consolidation Standards.

Novo Nordisk A/S Monitor

Submitted by Company Reporting on Tue, 2015-04-07 14:32

CR Monitor Issue:

2015/0404

Company covered:

Novo Nordisk A/S

Period End:

31 December 2014

Report issued on 07 April 2015 covered the following practice issues:

Research and development costs analysed by nature and segment.

Changes to disaggregation of forward contracts and derivative movements.

Favorable impact of securitisation arrangement on liquidity disclosed.

Interpretative commentary interleaved with financial statements.