Mba - Corporate Reporting

ADVANCED CORPORATE REPORTING

TABLE OF CONTENTS

Executive Summary 2
Table of Contents 3
Section 1- Consolidated Statement of Financial Position 4
Section 1.2- Workings 5
Section 1.3-Adoption of IFRS 6
Section 2 – Statement of Cash Flow 7
Section 2.1 - Workings 8
Section 2.2 – FRS 1 – Cash Flow Statements 8
Section 3- FRS 15 – Tangible Fixed Assets 10
Section 3.1 – IAS 36 Impairment of Assets 11
Section 3.2 – IAS 37 Provisions and Contingent Liabilities 12
Section 14 – IASB’s Framework 14
References 16

                                              Executive Summary

The first section of this set of tasks was carried out to draw up the Consolidated Statement of Financial Position for Ridge as at 31st March 2013. The advantages of adopting IFRS for financial reporting purposes were then identified for Aboagye & Co.

The second section consisted of the preparation of cash flow statements for Dansoman Limited for the year ended 30th September 2011, in accordance with IAS 7 Statement of Cash Flows. The second part of this task consisted of differentiating between UK cash flows to IAS 7 and describing how it helped users to understand a cash flow position.

The third section analysed several accounting standards and how each work for the preparation of financial information, namely FRS 15 Tangible Fixed assets, IAS 36 Impairment of assets, IAS 37 Provisions, contingent Liabilities and contingent assets and finally the IASB’s Framework.

SECTION 1 - TASK A
(a)
RIDGE
Consolidated Statement of Financial Position as at 31 March 2012
£’000           £’000
Assets
Non-current Assets:
Property, Plant and Equipment
(38,100+28,500+3000(fair value)-600 depreciation)                                           69,000
Goodwill (W1)                                                                                                       7,400          
Investments: - Associate (W2)                                                               6,600...