Financial Reporting

This assignment (which replaces the exam in 2020) is based on research undertaken on 25 companies (groups) which follow IFRS. The assignment is focused on main topics covered in Financial Reporting module. Students are required to download 25 annual reports of companies that prepare their consolidated financial statements in accordance with IFRS and conduct a research answering the questions set by the tutor.


Don't use plagiarized sources. Get Your Custom Essay on
Financial Reporting
Get a plagiarism free paperJust from $13/Page
Order Essay

1. Discuss the main requirements of following standards:

· IAS 1 Presentation of financial statements

· IAS 16 Property, plant and equipment

· IAS 36 Impairment of assets

· IAS 38 Intangible assets

· IAS 40 Investment property

2. Conduct research based on 25 consolidated financial statements of companies that prepare their financial statements according to IFRS. Companies can be from whichever country in the world.

In your research, use 2019 annual financial statements (which are included in company’s annual reports). Answer the following questions:

· IAS 1: What is the form of company’s Income statement (expenses by the nature or by the function).

· IAS 1: What is the format of company’s statement of comprehensive income (single statement or two statements).

· IAS 16: What measurement model for subsequent measurement of Property, plant and equipment does the company use (cost model or revaluation model)?

· IAS 16: Which method for depreciation of its PPE does the company use?

· IAS 36: Did the company account for impairment in the period covered by its financial statements? If yes, include details about what was the reason that impairment was accounted for.

· IAS 38: What measurement model for subsequent measurement of Intangible assets does the company use (cost model or revaluation model)?

· IAS 40: What measurement model for subsequent measurement of Investment property does the company use (cost model or fair value model)?

3. Prepare a table including the list of companies and sector of their business (industry).

4. Present the findings in the form of charts (where possible), tables or text describing your findings. The form of charts is on your deliberation.

5. Prepare a brief summary of your findings (for example which income statement format is prevalent, what form of statement of comprehensive income is prevalent, what measurement method is prevalent in measurement of PPE, Intangible assets and Investment property, what depreciation method is prevalent with PPE, how many companies did account for impairment and the reasons for it). Discuss how the rights of choice included on some standards can impact the comparability of IFRS financial statements of various companies.

Note: Do NOT include Financial Institutions (i.e. banks, insurance companies and lease companies) in your sample.

When including companies in your sample, please double check that they DO prepare their consolidated financial statements in accordance with IFRS.


What counts towards the word limit?

· Tables and charts presenting the results of your research*)

· All text written by the student

· Footnotes and appendices except where these merely reproduce material from your sources

What does not count towards the word limit?

· Quotations

· Tables presenting purely factual material (e.g. lists of IFRS)

· References

Homework Valley
Calculate your paper price
Pages (550 words)
Approximate price: -

Our Advantages

Plagiarism Free Papers

All our papers are original and written from scratch. We will email you a plagiarism report alongside your completed paper once done.

Free Revisions

All papers are submitted ahead of time. We do this to allow you time to point out any area you would need revision on, and help you for free.


A title page preceeds all your paper content. Here, you put all your personal information and this we give out for free.


Without a reference/bibliography page, any academic paper is incomplete and doesnt qualify for grading. We also offer this for free.

Originality & Security

At Homework Valley, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. Our work is original and we send plagiarism reports alongside every paper.

24/7 Customer Support

Our agents are online 24/7. Feel free to contact us through email or talk to our live agents.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

We work around the clock to see best customer experience.


Flexible Pricing

Our prices are pocket friendly and you can do partial payments. When that is not enough, we have a free enquiry service.


Admission help & Client-Writer Contact

When you need to elaborate something further to your writer, we provide that button.


Paper Submission

We take deadlines seriously and our papers are submitted ahead of time. We are happy to assist you in case of any adjustments needed.


Customer Feedback

Your feedback, good or bad is of great concern to us and we take it very seriously. We are, therefore, constantly adjusting our policies to ensure best customer/writer experience.