The company’s interims, which today show operating profit up 37% to £402.7m, reveal Enterprise believed FRS2 would characterise its share of retained profits from Unique, an associated company, as goodwill.
Consequently, Enterprise has included £40.5m of retained profits and revaluation surplus within the total costs of acquisition for Unique when calculating goodwill.
The company, which operates more than 5,000 pubs across the country, notes this is a ‘departure from the statutory method’.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.