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Essay example - Burberry

Finance & Accounting
Pages 5 (1255 words)
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It is mainly a British company with outerwear as its core product. The brand has a luxurious digital positioning in the market with innovative trench coats, Prorsum knight heritage icon as its brand symbol and trademark check which have…

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In case of product diversification it has a rich source of women, men and children’s apparel and accessories and beauty products. The group operates into different functional areas like designing and marketing of its apparel, store architecture, supply chain management, IT, HR, Corporate affairs and strategy and finance section. For the financial year 2012-2013 its retail sales have earned 71% of total revenue and wholesale has earned 24%. Burberry has made a transition in its make-up and fragrance business by transferring it into direct operating structure. an online store of the group delivers it services to more than 100 countries in the world and further expansion of 84 more retail stores. Burberry is the most preferred luxury brand with more than 15 million fans on Facebook. It is also expanding its business in Middle East countries and has been listed as Top 100 Global Brands for consecutive four years by Interbrand (Burberry, 2013, pp. 17-26).
According to the auditor’s report of Burberry PLC, it was prepared by following the rules of IFRSs as adopted by EU. The report includes opinions which were prepared for the members of the company as per Companies act 2006. Auditors have analyzed all financial and non financial information of the company to identify whether it has any material misstatements with audited financial statements. Auditor’s report has given some opinion about the group’s financial statement that it has got a true view of the group’s profit and cash flows for the financial year 2013 and it was prepared as per the requirements of Companies Act 2006. Auditor’s report also has some matters like it has identified that director’s remuneration in some cases was not abide by law and auditors didn’t receive all the information they required for audit. Auditors need to review the director’s ...
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