Finance Jl
LCA Business School – Assignment Submission Form
An electronic copy of this form must be attached to all Turnitin assignment submission files
ARU Student Number: 1354030
LCA student Number: 308697/410348
Module Title: Financial Reporting- An international Approach
Assessment: Final
Lecturer: Feroz Kassam-Kanji
Due Date: 08/01/2015
Statement of Authenticity
I hereby confirm that this assignment is an original piece of my own work which makes full use of appropriate style Harvard Referencing to acknowledge all sources of information used in its compilation.
I also confirm it has not been submitted to another Institution for academic purposes.
I understand that assignments will not be accepted for marking without a completed form.
Signature: Junita Lama
Name: Junita lama
Date: 28/12/2014
Table of Contents
Task 1 3
1. Conceptual framework 3
2. Usefulness of kingfisher’s financial statement 3
Task 2 4
1. Income statement 4
1.1. Revenue (sales): 4
1.2. Gross profit: 4
1.3. Selling Expenses: 4
2. Balance sheet 4
2.1. Assets 4
2.2. Liabilities 5
3. Owner’s equity 5
TASK 2(b) 5
1. Management commentary 5
2. Kingfisher’s management commentary and its effectiveness to fill the information gap 5
TASK 3. 6
1. Revenue and its treatment 6
2. Usefulness of revenue for performance analysis 6
3. Segmental Reporting 7
4. Usefulness of Segmental Reporting in Performance analysis 7
Task 4 7
1. Goodwill and Accounting policy about it by kingfisher plc. to satisfy user’s need 7
2. Intangible assets and Accounting policy about it by kingfisher plc. to satisfy user’s need 8
3. Controversy between goodwill and intangible assets 8
TASK 5 8
1. Income statement 8
2. Cash flow statement and its elements 9
3. Relationship between the cash flow and income statement 9
4. Differences between cash flow and income statement 9
Appendices 10
References 12
Task 1
1. Conceptual framework
The conceptual framework sets out the framework for the preparation of financial statements and comes
An electronic copy of this form must be attached to all Turnitin assignment submission files
ARU Student Number: 1354030
LCA student Number: 308697/410348
Module Title: Financial Reporting- An international Approach
Assessment: Final
Lecturer: Feroz Kassam-Kanji
Due Date: 08/01/2015
Statement of Authenticity
I hereby confirm that this assignment is an original piece of my own work which makes full use of appropriate style Harvard Referencing to acknowledge all sources of information used in its compilation.
I also confirm it has not been submitted to another Institution for academic purposes.
I understand that assignments will not be accepted for marking without a completed form.
Signature: Junita Lama
Name: Junita lama
Date: 28/12/2014
Table of Contents
Task 1 3
1. Conceptual framework 3
2. Usefulness of kingfisher’s financial statement 3
Task 2 4
1. Income statement 4
1.1. Revenue (sales): 4
1.2. Gross profit: 4
1.3. Selling Expenses: 4
2. Balance sheet 4
2.1. Assets 4
2.2. Liabilities 5
3. Owner’s equity 5
TASK 2(b) 5
1. Management commentary 5
2. Kingfisher’s management commentary and its effectiveness to fill the information gap 5
TASK 3. 6
1. Revenue and its treatment 6
2. Usefulness of revenue for performance analysis 6
3. Segmental Reporting 7
4. Usefulness of Segmental Reporting in Performance analysis 7
Task 4 7
1. Goodwill and Accounting policy about it by kingfisher plc. to satisfy user’s need 7
2. Intangible assets and Accounting policy about it by kingfisher plc. to satisfy user’s need 8
3. Controversy between goodwill and intangible assets 8
TASK 5 8
1. Income statement 8
2. Cash flow statement and its elements 9
3. Relationship between the cash flow and income statement 9
4. Differences between cash flow and income statement 9
Appendices 10
References 12
Task 1
1. Conceptual framework
The conceptual framework sets out the framework for the preparation of financial statements and comes
References: Argersinger, M. (2011), How Companies Fake It (With Cash Flow), Daily Finance. [Online] Available from http://www.dailyfinance.com/2011/07/27/how-companies-fake-it-with-cash-flow/ (Accessed on 12/12/2014) Bajpai, P (2014), Goodwill vs Other Intangible Assets: What 's the Difference? , Investopedia.[online] Available from http://www.investopedia.com/articles/investing/100614/goodwill-vs-other-intangible-assets-whats-difference.asp (Accessed on 18/12/2012) Banerjee,B.K. (2010), Financial Accounting : Concepts, Analyses, Methods And Uses, New Delhi: PHI Learning Pvt. Ltd Mohana,R.P.(2008), Financial Statement Analysis and Reporting, New Delhi: PHI Learning Pvt. Ltd Morris,M.(2011), Starting a successful Business: choose a Business, Plan your Business, Manage Operation, 7th edn ,London: Kogan Page Publishers. Ramin, K. and Reiman,C.(2013), IFRS and XBRL: How to improve Business Reporting through Technology and Object Tracking, Oxford: John Wiley & sons ltd