Marks and Spencer - Essay Example

Only on StudentShare

Extract of sample
Marks and Spencer

This report analyses the accounting policies of Marks and Spencer from two sides: in order to assess their usefulness, and to determine the degree of transition towards international financial reporting standards (IFRS). The first part of the report analyses the development of two accounting policies regarding tangible fixed assets and intangible one. To make the analysis more critical, comparisons with the main competitors of Marks and Spencer are drawn illustrating the controversial development of the selected policies. The second part of the report deals with the analysis of transition from UK GAAP to IFRS with specific respect to the following issues: treatment for property, property leases, employee benefits, share-based payments, intangible assets, and financial instruments.
During their lifetime companies acquire property, which should be treated as assets according to the accounting standards. Meanwhile most of the property types have a 'lifetime' span, a time period, called useful economic life, during which an asset is used. To reflect the useful economic life in financial statements, profit and loss account receives regular portion of the cost of an asset. This expense is known as depreciation. In other words, depreciation represents the extent to which economic value of an asset has been consumed by the business. ...Show more

Summary

Bringing accounting policies to single standard has become a basis of free competition. When financial statements of every company is prepared in accordance to same standards, it easier for investors to analyse the current performance of the company and to forecast its future…
Author : zulaufsigmund
Marks and Spencer Essay essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Marks and Spencer Essay"
with a personal 20% discount.
Grab the best paper

Related Essays

Marks and Spencer
However, the firm faced significant challenges throughout the 80s due to many factors like poor show of its own brand in the Canadian operations as opposed to its other local brands viz., Peoples/D’Alliard’s, failure to reach profitable customers in France, and the need to refurbish stores across UK for greater customer satisfaction.
2 pages (500 words) Essay
Marks and Spencer
In the context of the first category, a country’s existing unions are merger so that strong social units are established (Towers and Terry 1991). Such practice is common in Austria and Germany. In Germany, the most important merger of unions developed in 1998; three were the unions participated in this merger:’ the Textile and Clothing Union, the IG Metall and the Wood and Plastics Union’ (Towers and Terry 1991, p.53).
7 pages (1750 words) Essay
Marks and Spencer Finance and Accounting Essay
This statement may not seem to reflect the company’s commitment in terms of pricing its people, when we look at the financial statement of the company for the year 2011. This statement would be reveiwed and analyzed against the framework for preparation and presentation of financial statements that aim to apply the qualitative characteristics and the most appropriate accounting standards to convey a true and fair view of the company to its shareholders and the general public.
5 pages (1250 words) Essay
Marks and Spencer
M&S has over 21 million people visiting their stores every week. They are the leading sellers of women’s wear and lingerie in the UK with 700 stores operative in UK. M&S is an expanding business internationally and has started its operations in many countries of the world with around 390 stores in Europe, Middle East and Asia.
6 pages (1500 words) Essay
Marks & Spencer
It has been facing survival crisis amidst intense competition (Mellahi, Jackson and Sparks, 2002). In addition they have not been spending on marketing. Its competitors include the traditional rivals such as John Lewis and Next, and in addition very recently Primark, with its low-cost clothing has changed the face of British High Streets (Ruddick, 2012a).
6 pages (1500 words) Essay
Marks and Spencer College Essay
The company also takes pride in the fact that it is doing the business in a responsible manner, thoughtful about the environmental concern and taking due care to make sure that the company is able to reduce the carbon footprints. In fact it has set for itself a target of becoming carbon neural and sending no waste to landfill by 2012.
5 pages (1250 words) Essay
E-commerace of Marks & Spencer
By the end of this year, it has been predicted that e-commerce will bring close to eight hundred billion US dollars for businesses. In relation to the above facts, Marks and Spencer- one of the most influential retailers in the world and also in the UK- has not been left behind in this regard.
4 pages (1000 words) Essay
Marks & Spencer
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.
11 pages (2750 words) Essay
Marks & Spencer
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.
6 pages (1500 words) Essay
The Treasury Profile For Marks & Spencer PLC
It is having about 2,000 suppliers and employs about 78,000 employees. M& S controls about 11.2 percent market share in retail clothing and about four percent of UK food market. The major financial risks encountered by the M&S group are funding, liquidity,
14 pages (3500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT