Pouring Over IFRS - a Case Study on Financial Disclosure in the Wine Industry

MGSM Working Paper No. 2006-8

21 Pages Posted: 14 Oct 2006

Date Written: October 2006


This paper examines the 2005 financial disclosure for Evans and Tate Limited and its controlled entities. The first section of the paper examines the composition of the group, group profit, group taxation, and the impact of IFRS. One key finding is there is no estimate by the company as to the impact of IFRS in future reporting periods.

The second section of the paper examines seven areas; voluntary disclosure, depreciation, expenditure commitments, amendments to goodwill, current asset classification, debt classification, and dividends. The finding from this examination suggests that the financial accounts are at best 'creative', but at worst erroneous and misleading.

The paper concludes by reflecting on the motivation that the company may have adopted in managing its financial disclosure, and the implications for investors and other stakeholders.

Keywords: voluntary disclosure, IFRS

JEL Classification: A20, M41, M43, M44, M45, M47

Suggested Citation

Finch, Nigel, Pouring Over IFRS - a Case Study on Financial Disclosure in the Wine Industry (October 2006). Available at SSRN: https://ssrn.com/abstract=937248 or http://dx.doi.org/10.2139/ssrn.937248

Nigel Finch (Contact Author)

Saki Partners ( email )


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