User Account

All Pages

Determine that the accounting principles used by m&s

Assignment Help Financial Accounting
Reference no: EM13510789

The financial statements of Marks and Spencer plc (M&S) are available at the book's companion website or can be accessed at

https://corporate.marksandspencer.com/documents/publications/2010/Annual_Report_2010.

Instructions

Refer to M&S's financial statements and the accompanying notes to answer the following questions.

(a) Using the notes to the consolidated financial statements, determine M&S's revenue recognition policies.

(b) Give two examples of where historical cost information is reported in M&S's financial statements and related notes. Give two examples of the use of fair value information reported in either the financial statements or related notes.

(c) How can we determine that the accounting principles used by M&S are prepared on a basis consistent with those of last year?

(d) What is M&S's accounting policy related to refunds and loyalty schemes? Why does M&S include the accounting for refunds and loyalty schemes in its critical accounting estimates and judgments?

Reference no: EM13510789

Questions Cloud

What was the amount of the adjustment : Time Warner Inc. reported short-term deferred revenue of $1,497 million and $1,731 million as of December 31, 2004 and 2003, respectively. For the year ending December 31, 2004, Time Warner reported total revenues of $42,089 million.
Determine the stockholders equity of walt disney : If assets increased by $3,914 and stockholders' equity increased by $2,290, what was the increase or decrease in liabilities for the year ending September 30, 2004?
Obtain how much kinetic energy is lost in the collision : A railroad car of mass 2.5 104 kg moving at 3.50 m/s collides and couples with two coupled railroad cars, How much kinetic energy is lost in the collision
Write the accounting equation for the following transactions : Turtle Creek Kennel, Inc., earns service revenue by caring for the pets of customers. Turtle Creek's main expense is the salary paid to an employee.
Determine that the accounting principles used by m&s : What is M&S's accounting policy related to refunds and loyalty schemes? Why does M&S include the accounting for refunds and loyalty schemes in its critical accounting estimates and judgments?
Decision-making case study : Should directly connect with the customer and should talk about the two important events - Contents must give a clear idea about the best deals and new product range which will help in attracting the customer.
Estimate the wavelength of argon laser light : Light from an argon laser strikes a diffraction grating that has 5330 grooves per centimeter. Determine the wavelength of the laser light
Uniformity and disclosure policy-making directions : The SEC requires disclosure of both retrospective and prospective information in the Management’s Discussion and Analysis section of the annual report.
Determine net purchases and cost of goods purchased : Purchases $450,000; Purchase Returns and Allowances $11,000; Purchase Discounts $8,000; and Freight-in $16,000. Determine net purchases and cost of goods purchased.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd