Got a tricky question? Receive an answer from students like you! Try us!

Financial Information: Coursework Assignment - Essay Example

Only on StudentShare
Finance & Accounting
Pages 5 (1255 words)


Financial Information: Coursework Assignment [Instructor Name] Financial Information: Coursework Assignment Principal Activities of Tesco Plc.: Tesco Plc. Is one of the leading international retailers with its core business as in retailing of grocery…

Extract of sample
Financial Information: Coursework Assignment

The company has also recently initiated its telecom and data manager and distributions business lines (Bloomberg 2012). The company sells its products and services through its physical stores and also online ecommerce solutions to its millions of customers worldwide. The company operates for achieving its visions that is “to create value for customers to earn their lifetime loyalty” (Tesco Plc., 2011) and deliver its values “no one tries harder for customers and treat people how we like to be treated” (Tesco Plc. 2011). Auditors Report and its Importance The auditors of Tesco Plc are from the London office of PricewarehouseCoopers LLP. The independent auditor’s report briefly provides the responsibilities of directors and auditors along with the scope of the audit of the financial statements. The opinion of the independent auditors indicated that the company’s financial statements have been prepared according to IFRSs, which have been adopted by the EU and the information provided by the company represents true and fair view of the company’s operations and other affairs. The opinion of the external auditors also indicate that the directors report has been prepared in accordance with the requirements under the Companies Act 2006 however there are certain exceptions which the auditors have noted and reported. ...
Download paper
Not exactly what you need?

Related Essays

Working capital trade-offs of. Porsche AG, Daimler AG, and BMW.
This section would be discussing the working capital trade-offs of three luxury car manufacturing companies Porsche AG, Daimler AG, and BMW. …
12 pages (3012 words)
Finance and accounting assignment: Advanced financial reporting & regulation
11 PSA Peugeot and Vodafone cases……………………………………………… 14 References……………………………………………………………………… 17 Question 1: A common technique to manage earnings is to ‘stuff the channels’, that is, to ship prematurely to dealers and customers, thereby inflating sales for the period. A case in point is Bristol-Myers Squibb co. (BMS), a multinational pharmaceutical company head-quartered in New York. In August 2004, the Securities Exchange Commission (SEC) announced a USD 150 million’s penalty levied against BMS.…
10 pages (2510 words)
Financial Information for Managers Ref/Def assignment
In the business world it is important to be able to evaluate the financial performance of company. Managers and other stakeholders such as suppliers and lenders depend on financial information in order to made decisions. The four basic financial statements are the income statement, the balance sheet, the statement of retained earnings, and the statement of cash flow (Weygandt & Kieso & Kimmel, 2002). These statements are published in the annual reports of public corporations. The data contained in the financial statements can be utilized by financial analyst to make financial analysis such as…
3 pages (753 words)
Financial Accounting Coursework
It was also decided that the auditors would also have to follow the International Standards of Auditing (ISA), so that it would be easier to analyze the financial statements of the company on a global platform. The objective of this study is to discuss the improvement in the quality of information that users of financial statement get in IAS environment. Developing a strong accounting system is of significant importance because ability of the investors and the banks to calculate and assess the financial strengths and the performances of the companies depends on the transparent corporate…
9 pages (2259 words)
During the period of tulip mania it has been observed that the cost of a single tulip had surpassed the average income of an expert employee. The period of tulip mania was considered to be a golden age in the Dutch calendar where the prices of the tulip bulbs reached to an unexpected extent (Thompson, 2006). Literature Review and Explanation of Tulip Mania (of the 17th century) At present time, Dutch flower industry comprise about 70% of global flower production and about 90% of global flower trade. From the past time, Dutch flowers were traded to Europe, where the bulbs of flowers were sold…
4 pages (1004 words)
Financial Accounting coursework
Thus the accrual method of accounting measures the position and performance of the company based on the transactions made in the course of business irrespective of the cash receipts and payments done for the business transaction. The accrual method of accounting combines the current and expected cash inflows and outflows to determine the consolidated financial position of the company (Sofat and Hiro, 2008, p.36). Marks and Spencer has used the accrual method to determine the expected value of the cash flows based on the historical sales returns so that the accrued figures could be allocated…
5 pages (1255 words)
Financial Accounting coursework
References……………………………………………………………………………….7 1. Executive Summary This report includes some of the basic principles and conventions that must be adhered to while preparing the financial statements. It includes analysis and evaluation of some of the accounting practices and conventions. This report also analyses and evaluates some of the accounting practices in Marks & Spencer Plc. 2.1 Accrual Accounting Accrual concept includes recognition of revenue when earned while expenses are only acknowledged when they are suffered or incurred.…
5 pages (1255 words)