Report to the Board of Directors - 3M Company - Coursework Example

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Report to the Board of Directors - 3M Company

In case of determination of impairment of assets, the management has adopted separate measurement techniques of evaluating the different units by categorizing them as profit making or loss making. The price-earnings ratio method has been used for profit-making units, the discounted cash flow method has been used for the loss-making units and the relative fair value method has been used for the changes in products offerings of the different units (Sofat and Hiro, 2008, p.84). The influence of the institutional context and the social context on the measurement choices for accounting treatment have been considered in the process of financial reporting. The necessary changes in the accounting treatment of the company to comply and align with the norms under IFRS have been suggested to improve the process of accounting and financial reporting. ...Show more


Report to the Board of Directors - 3M Company Contents Executive summary to Board of Directors 3 Evaluation of selected measurement model 1: PPE valuation and recognition 4 Evaluation of selected measurement model 2: Differences permitted in Asset Impairment methods and accounting treatment 5 Discussion of influence of institutional context on measurement choices 6 6 Discussion of influence of social context on measurement choices 7 Recommendations to Board of Directors 8 References 9 Executive summary to Board of Directors The financial reporting on PPE and asset impairment of 3M Company has been presented below…
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