Cash isn't king unless you have no outstanding liabilities.
Accounting 101: "What you are worth is the difference between what you own and what you owe."
As for accounting policy changes, I haven't looked, however my BS meter ticks up a few notches every time I hear someone say that Ryanair is sitting on a mountain of cash. I would also like to know about it's liabilities, and how any off balance sheet transactions are reflected in them.