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ERICA Working Group

The ERICA WG has published a new “ERICA series” document, under the title: “Different alternatives that IFRS users can adopt: Analysis of the choices taken in Europe”. This note focuses on analysing the use of IFRS alternatives in ERICA+ groups (a sub-set from the ERICA database of around 250 groups with extra accounting details), showing general results by country, sector and size. The IFRS alternatives covered are presentation of the income statement either by nature or by function of expenses, presentation of the cash flow statement by means of the direct or indirect method, presentation of other comprehensive income gross or net of taxes, subsequent measurement of property, plant and equipment at cost or revalued amount, and subsequent measurement of investment property at cost or fair value.

FSA Working Group

The FSA WG has produced this News release that presents the most recent trends in the collection and payment periods on trade credits of European non-financial corporations (Belgium, Germany, France, Italy, Poland, Portugal, Spain and Turkey). This note contains an update of the previous report and covers the period 2014-2015.

Link to the FSA WG publication section

ERICA Working Group

The ERICA WG has published a new “ERICA series” document, under the title: “FLEXIBILITY IN CLASSIFICATION OPTIONS WITHIN THE STATEMENT OF CASH FLOW”. This study examines the impact of the flexibility in classification options within the statement of cash flow. The option in the cash flow statement, according to IFRS, on how to classify interest and dividends paid and received hampers comparability between groups. The amount of operational cash flow reported by a group may differ according to whether the interest paid by the group is considered as an operating cash outflow or as a financial cash outflow. The classification choice can also have an impact on the group's credit risk assessment.

ERICA Working Group

The ERICA WG has published a new “ERICA series” document, under the title: “REVENUE VARIATION DISCLOSURE - PERIOD 2014-2015”. This note conducts an in-depth analysis of the turnover growth of European non-financial listed groups in order to ascertain their intrinsic dynamism. The turnover growth of the main European non-financial listed groups is analysed in terms of its various components: exchange rate effects, changes in the scope of consolidation and organic growth.

FSA Working Group

The FSA WG has produced a user friendly excel tool that helps to explore and navigate through its trade credit data base of non-financial corporations. The database contains indicators of days sales outstanding (DSO) and days payable outstanding (DPO), used as proxies for customer and supplier payment periods.

FSA WG publications

FSA Working Group

The Financial Statements Analysis Working Group (FSA WG) has published a set of documents, under the title: "The Use of Accounting Information to Estimate Indicators of Customer and Supplier Payment Periods" (PowerPoint).

These documents intend to highlight the main results emerging from the studies conducted by the FSA WG over the last few years. The most recent studies of the group relate to trade credits of European non-financial corporations. These studies use accounting information drawn from financial statements in order to prepare indicators of days sales outstanding (DSO) and days payable outstanding (DPO), used as proxies for customer and supplier payment periods, respectively. Results are presented for the eight countries participating in the working group: Belgium, Germany, France, Italy, Poland, Portugal, Spain and Turkey.

IFC/ECCBSO/CBRT Conference on “Uses of Central Balance Sheet Data Offices’ information”

We are pleased to inform you that the proceedings of the IFC-ECCBSO-CBRT Conference on “Uses of Central Balance Sheet Data Offices’ information”, co-organised by the IFC, the European Committee of Central Balance Sheet Data Offices (ECCBSO) and the Central Bank of the Republic of Turkey (CBRT) in Özdere‐İzmir, Turkey, on 26 September 2016 were published in the IFC Bulletin No 45 (http://www.bis.org/ifc/publ/ifcb45.htm) on the IFC Website.

ERICA Working Group

ERICA WG has published its document: "European non-financial listed groups: analysis of 2015 data" together with its annex "European non-financial listed groups: analysis of 2015 data - Annexes".

The study presents some highlights of European non-financial listed groups, on profitability and financial structure in 2015. ERICA (European Records of IFRS Consolidated Accounts), is a database, for internal use within the members of ECCBSO, composed of a dataset of around 1,000 European non-financial groups, fully representative of the stock markets of the countries participating in the project (Austria, Belgium, France, Italy, Germany, Greece, Portugal and Spain). The data are obtained from publicly available financial statements, having been treated manually, by CBSO statistics and accounting specialists, to be fitted on a standard European format (ERICA format); this manual treatment means, in some cases, the interpretation of the original data, a constraint that readers of this document should bear in mind.

ERICA Working Group

The ERICA WG has published a new “ERICA series” document, under the title: “Recalculated data in European non-financial listed groups and the impact of the new IFRS 10-11-12 standards”. This short note takes a closer look at how frequently groups restate their data, in which countries, branches of activity and size class the restatements are more common, what caused the recalculations, and finally what impact ‘important reasons for restatement’ have on the statement of financial position and on the profit and loss statement. 

BACH Working Group

Outlook #4 “European non‐financial corporations from 2007 to 2014”

The Outlook #4 available free of charge at the BACH website, entitled “European non‐financial corporations from 2007 to 2014” uses BACH data to analyse recent developments in ten European economies: Austria, Belgium, Czech Republic, France, Germany, Italy, Netherlands, Poland, Portugal and Spain. This Outlook focuses on the 2008‐2009 financial crisis’ immediate impact over non‐financial corporations’ profitability and funding structure, as well as on the evolution in the subsequent periods, distinguishing short‐term from long‐term effects. A breakdown by sector, size and the distribution quartiles for some ratios are provided in order to better illustrate the diversity of situations among each country.