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Marks and spencer assignment
Finance & Accounting
Pages 8 (2008 words)
Marks & Spencer: Introduction Marks & Spencer came into existence on 28th September 1884 (Corporate, web). Aggregately, operating with more than 600 UK stores, and serving more than 21 million customers each week, M&S has employed more than 75,000 people in more than 41 countries.
In the consolidated statement of financial position of M&S, the company have many subsidiaries or associate companies. However, when the consolidated cash flows are analysed, they reflect ‘acquisition of subsidiaries’ amounting to 5.4 million pounds in 2010. Operating segments-IFRS 8 Marks & Spencer Group Plc adopted International Financial Reporting Standard (IFRS) 8- operating segments on 29 March 2009. This Standard requires the internal reporting should be used as a base to report the performance of operating segments of an entity. The Group has reshaped its operating segments as UK and International and their performance is reviewed by the executive directors. On the basis of review, the chief executives ascertain the amount of the further resources. The UK segment comprises of the UK franchise operations and UK retail business. The International segment operates in the Republic of Ireland, Asia and Europe, together with international franchise operations. In the year of 2009 and 2010, the Group made revenue of 8164.3 and 8567.9 billion pounds from UK operations respectively, and from the International segment, the Group posted 897.8 and 968.7 billion pounds in the year 2009 and 2010 respectively. Analysis The Group has shown less attractive financial performance. ...
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