Barclays 2011 Annual Report Download - page 196

Presentation of information
BBA Code for Financial Reporting Disclosure
In September 2010, the British Bankers’ Association published a Code
for Financial Reporting Disclosure (the Code). The Code sets out five
disclosure principles together with supporting guidance. The principles
are that UK banks will:
– provide high quality, meaningful and decision-useful disclosures;
– review and enhance their financial instrument disclosures for key areas
of interest;
– assess the applicability and relevance of good practice
recommendations to their disclosures acknowledging the importance
of such guidance;
– seek to enhance the comparability of financial statement disclosures
across the UK banking sector; and
– clearly differentiate in their annual reports between information that
is audited and information that is unaudited.
Barclays has adopted the BBA Code for Financial Reporting Disclosure and
has prepared the 2011 Annual Report and Accounts in compliance with
the Code.
The Group aims to continually enhance its disclosures and their
usefulness to the readers of the financial statements in the light of
developing market practice and areas of focus. In 2011 we have:
– continued to streamline disclosure to focus on significant decision-
useful information, for example providing detailed disclosure on
individual employee share schemes only where material in the context
of the income statement charge, dilution of capital or Executive
remuneration;
– included certain more detailed or static information in other published
documents with clear references to where these may be found,
for example risk management methodologies (included in Pillar 3
reporting) and the glossary (published separately on-line);
– reorganised the information in the Notes to the Accounts under
common topics to facilitate readers’ understanding;
– included descriptions of significant accounting policies, critical
accounting estimates and future accounting developments within
the note to which they relate, thereby including related information
in one place;
– continued to enhance our disclosures, with specific focus on:
– the effects of collateral on our maximum exposure to credit risk
following amendments to IFRS 7 Financial Instruments (page 80);
– exposures to selected countries (page 112);
– liquidity disclosures including information on funding structure and
secured funding (page 139);
– credit risk and loans subject to forbearance (pages 99 and 103);
– provisions relating to PPI redress (page 246);
– reconciliation of balance sheet figures to regulatory capital resources
(page 133);
– accounting for deferred employee remuneration and the
reconciliation of awards to performance costs (page 65); and
– accounting for deferred tax assets (page 213).
Statutory Accounts
The consolidated accounts of Barclays PLC and its subsidiaries are set out
on pages 197 to 201along with the accounts of Barclays PLC itself on
pages 202 to 203. The accounting policies and the notes commencing on
page 204 apply equally to both sets of accounts unless otherwise stated.
194 Barclays PLC Annual Report 2011 www.barclays.com/annualreport