IFRS 3 (Business Combination) is considered effective for annual reports issued on or after 1 July 2009. This revised method is currently applicable to business combinations with some considerable changes. For instance, all payments made to acquire a business must be recorded at fair value at the date of acquisition. And the contingent payments need to be classified as ‘debt’ which is measured sequentially through the income statement. All costs pertaining to acquisitions are expensed.
This standard prescribes accounting policies for treating intangible assets that are not supervised in particular by any other standard. A firm can only recognize an intangible asset if it meets some specific standard requirements. This standard also guides in measuring the amount at which to report the intangible asset and specific disclosure requirements related to that intangible asset.
IAS 38 (amendments)
IAS 38 (Intangible assets) amendments are a part of annual improvement process of IASB that was published in April 2009. This amendment provides guidance for measuring the fair value of any intangible that is acquired through a business combination. It allows making a single group of all relevant intangibles that have similar economic lives.
Charles Stanley Group PLC, (along with their subsidiaries) is in the investment business. They are headquartered and operate in the UK. Last year Matterley Asset Management (Fund Management Company) joined CSG. This company (CSG) is registered as a public company on London Stock Exchange.
Charles Stanley Group PLC follows International Financial Reporting Standards (IFRS).
Cite this document
(“IFRS 3 and IAS 38 Standards: Charles Stanley Group, Marks and Spencer, Coursework”, n.d.)
Retrieved from https://studentshare.net/finance-accounting/38711-ifrs
(IFRS 3 and IAS 38 Standards: Charles Stanley Group, Marks and Spencer, Coursework)
“IFRS 3 and IAS 38 Standards: Charles Stanley Group, Marks and Spencer, Coursework”, n.d. https://studentshare.net/finance-accounting/38711-ifrs.
Cited: 0 times
The writer of the essay presents an analysis of the accounting standards in Charles Stanley Group, Marks and Spencer, TESCO and Domino’s Pizza Inc. and gives recommendations. The essay begins with the explanation on the IFRS 3 and IAS 38…
The goal of this report is to assess the performance of Dominos Pizza Inc. from 2008-2010. All values in the report are taken from financial statements published by the company annually. These statements are studied thoroughly and interpreted in light of company’s background and current performances.
Formally working on the slogan of "30 minutes or free" Domino's Pizza has ensured taste with speedy transportation to their client which in return has led to its popularity. (Donald J Vlcek, 1992) The company is one of its own kind specially in Latin America but still faces tough resilience from their counter parts namely McDonald’s, Kentucky Fried Chicken, Subway and Hardees.
In all the methods available to investors, investment analysts provide an almost endless stream of information and recommendations for investors to sort out. There are often claims that some shares are undervalued, some overvalued while the others value represent a true market value.
The desire to achieve comparability and its over-time counterpart, consistency, is the reason to have reporting standards. Recognition and measurement requirements of accounting standards are to be based on the qualitative characteristics of accounting information laid out in Concepts Statement.
Sales decline was 4.8 % in 2000.
The tools and frameworks applied to marketing in the UK do not differ to those used to market products in other countries. Identifying these issues and assessing their effect on strategy provides the basis for the M&S to analyse the causes of sales decrease and possibility to develop a new strategic plan in order to obtain a strong market position.
Everybody knows that retail is one of the most competitive economics sector. Shops, marketplaces, boutiques, super- and hypermarkets offer us great choice of different goods. That's why if any company has been taking the top positions for almost 10 years, - it is considered as a great success.
An intangible asset is, therefore, majorly a concept that can be turned into revenue. An intangible asset is thus identifiable only when it is separable in that it can be separated or sold, transferred, rented or exchanged
Marks & Spencer PLC is a United Kingdom based retailer with over 700 branches in the UK and over 360 in more than 42 nations. The product range of Marks & Spencer PLC is grouped into food and general merchandise.
The author states that highly effective selection and recruitment process are used by both the companies, i.e., M&S and Tesco. Career planning and motivation, hiring according to the required skill set maintained by the companies, are some of the main aspects that reflect upon the effectiveness of recruitment process of both the companies.
3 pages (750 words)Assignment
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you another Coursework on topic IFRS 3 and IAS 38 Standards: Charles Stanley Group, Marks and Spencer, TESCO and Dominos Pizza Inc for FREE!