IFRS 3 'Business combinations'

Halfords Group plc Monitor

Halfords Group plc-Annual report-2017
CR Monitor Issue: 
2018/0109
Company covered: 
Halfords Group plc
Period End: 
31 March, 2017
Report issued on 16 January 2018 covered the following practice issues:
Change
Detailed disclosure of asset fair values recognised on acquisition including separate disclosure of intangible asset values.
Change
Presentation of audit report enhanced by inclusion of overview section and diagrams.
Change
Risk management disclosures enhanced by inclusion of risk matrix diagram and flow chart explaining risk management framework.
Change
Like for like sales identified as a new key performance indicator.
Change
Directors remuneration policy statement extended to explain impact of good leaver conditions on share based payment awards.

BTG plc Monitor

BTG plc Annual Report 2017
CR Monitor Issue: 
2018/0104
Company covered: 
BTG plc
Period End: 
31 March, 2017
Report issued on 9 January 2018 covered the following practice issues:
New
Book values, fair value adjustments and fair values disclosed in a tabular format in respect of business acquired.
Pronouncements
Section discussing Alternative Performance Measures introduced to the annual report.
Change
Change in income statement format results in less dis-aggregation.
Change
Enhanced analysis of deferred tax assets.
Change
Change in method for calculating impairment test recoverable amount.
Change
Change in balance sheet format leads to less dis-aggregation.

Royal Dutch Shell PLC Monitor

Royal Dutch Shell PLC Annual Report 2016
CR Monitor Issue: 
2017/1107
Company covered: 
Royal Dutch Shell PLC
Period End: 
31 December, 2016
Report issued on 21 November 2017 covered the following practice issues:
Change
Change in segment reporting following an alteration to the business management structure.
Change
Financial instrument risk disclosures extended to include a value at risk analysis in respect of carbon emission rights trading.
Restatement
Restatement of amounts offset in respect of derivative contracts to align with a new netting methodology applied this year.
Change
Auditors include discussion of key audit matters in their report instead of areas of focus.
Divergence
No qualitative disclosure as to what goodwill recognised on a business acquisition represents.
Restatement
Restatement of statement of changes in equity in relation to shares held in trust.

Johnson Matthey plc Monitor

Johnson Matthey plc Annual Report 2017
CR Monitor Issue: 
2017/1101
Company covered: 
Johnson Matthey plc
Period End: 
31 March, 2017
Report issued on 7 November 2017 covered the following practice issues:
Change
Tabular presentation of principal risks extended by inclusion of two new risk factors, "maintaining our competitive advantage" and "product quality".
Change
Goodwill recognised on business combinations attributed to opportunities to access expertise and anticipated future synergies.
Change
Added disclosure showing year on year comparison of results on a constant exchange rate basis.
Change
Disclosures on social and environmental reporting extended by inclusion of a materiality assessment in the form of a diagram.
Change
Discussion on non-GAAP measures introduced in a new annual report section.

Severn Trent plc Monitor

Severn Trent plc Annual Report Year
CR Monitor Issue: 
2017/1102
Company covered: 
Severn Trent plc
Period End: 
31 March, 2017
Report issued on 7 November 2017 covered the following practice issues:
Restatement
Business disposed of to newly formed joint venture reflected as discontinued operation.
Change
Goodwill on acquisition attributed to anticipated future synergies and future growth potential.
Change
Gain on disposal of Italian operations reflected as exceptional.
Change
New note to the accounts added discussing alternative performance measures.

Experian plc Monitor

Experian plc Annual Report 2017
CR Monitor Issue: 
2017/1011
Company covered: 
Experian plc
Period End: 
31 March, 2017
Report issued on 31 October 2017 covered the following practice issues:
Change
Results of discontinued operations reflected separately on the face of the income statement.
Change
Goodwill arising on business acquisition attributed to the assembled workforce and future growth potential.
Change
Graphical representations introduced to audit report to explain the application of materiality and audit scope.
New
Reconciliation of changes in segment revenue showing the impact of organic revenue growth introduced.

Babcock International Group Monitor

Babcock International Group Annual Report 2017
CR Monitor Issue: 
2017/1006
Company covered: 
Babcock International Group
Period End: 
31 March, 2017
Report issued on 10 October 2017 covered the following practice issues:
Change
Cash outflow on acquisition of non-controlling interest reflected within financing section of the cash flow statement
Change
Goodwill on business acquisition attributed to market position and the value of the workforce.
Pronouncements
Extended disclosure on the future impacts of IFRS 15 and IFRS 16.
Change
Impairment review leads to goodwill write-down.

Air Liquide Monitor

Air Liquide Annual Report 2016
CR Monitor Issue: 
2017/1005
Company covered: 
Air Liquide
Period End: 
31 December, 2016
Report issued on 10 October 2017 covered the following practice issues:
Divergence
Profit contribution of acquired business not disclosed.
New
Discontinued operations highlighted on the face of the income statement.
Change
Enhanced disclosure of non-executive director remuneration.
Change
Managing the environment and climate risks identified as new principal risk factor.

ASML Holding N.V. Monitor

ASML Holding N.V. Annual Report 2016
CR Monitor Issue: 
2017/0911
Company covered: 
ASML Holding N.V.
Period End: 
31 December, 2016
Report issued on 26 September 2017 covered the following practice issues:
Change
Detailed description of what significant goodwill recognised on business combination represents.
Change
Free cash flow added as a new key performance indicator.
New
Introduction of discussion on strategic objectives in respect of stakeholder groups.
Change
Additional principal risks identified in respect of development of new technology and uncertainties in respect of investment to be acquired.
Change
Audit report enhanced by inclusion of extended discussion on audit approach and scope including the use of diagrams.
New
Discussion of directors remuneration policy added to supervisory board report.

Meggitt plc Monitor

Meggitt plc Annual Report 2016
CR Monitor Issue: 
2017/0910
Company covered: 
Meggitt plc
Period End: 
31 December, 2016
Report issued on 26 September 2017 covered the following practice issues:
Restatement
Provisional fair values finalised in respect of prior year business acquisitions.
New
Business disposed not identified as discontinued operation as it did not represent a major line of business or separate geographical location.
Pronouncements
Disclosure of additional information in relation to the future impacts of IFRS 15 “Revenue from contract with customers” including some quantification.
Change
Disclosure of "business interruption" as a separate area of principal risk.