International Accounting (Asset Valuation and Segmental Reporting with cases)

소개

현재 영국에서 경영학 석사 공부하고 있는 학생입니다.

Asset Valuation and Segmental Reporting을 IAS 와 FAS에 맞추어 비교분석하였고
Tesco & Sainsbury를 사례로 제시하였습니다.

레퍼런스도 첨부되어 있습니다.

회계 공부하시는 분들에게 많은 도움이 되었으면 합니다. ^^*

목차

Introduction

1.Asset Valuation Principles

1.1 Outline of property, plant and equipment
1.2 Outline of Goodwill
1.3 Property, plant and equipment in two standards
1.4 Goodwill in two standards

2. Segmental reporting
2.1 IAS 14 and SSAP 25
2.2 Segment reporting of TESCO and Sainsbury

3.Relevant Comparisons
3.1 Profitability ratios
3.2 Working capital ratios

Conclusion

본문내용

Introduction

Historically, the regulatory framework in UK started professionally in 1976 when the Accounting Standards Committee (ASC) was. It was responsible for preparing standards of accounting and narrows the differences in accounting practice and requires full disclosure accounting basics. It issued statements of Standard Accounting Practice (SSAPs). In 1990, it was replaced by Accounting Standards Board (ASB) and its function was to develop and promulgate ‘standards’ for financial accounting which are Financial Reporting Standards (FRSs).

The international framework gained popularity as investors seek to invest in global markets and hence needed more comparable information between companies. Therefore, it led to the formation of the International Accounting Standards Committee (IASC) in 1973 and issued IASs. In 2000, it was superseded by International Accounting Standards Board (IASB). From 2005 onwards, approximately 8,000 listed European corporations on a stock market have adopted IASs as their accounting standard, except for those companies that are listed in the EU and non-EU exchange, and companies that publish the only publicly-traded debt securities (Alfredson et al., 2005).

Both TESCO and Sainsbury are from Supermarket Retail industry with significant market share, 31.4% and 15.7% (2008), respectively. Despite the economic decline in UK and the global market, the figure reveals that both Sainsbury and TESCO still adopt aggressive attitudes on expansion, with Sainsbury setting within UK and TESCO targeting in overseas market.
Impressively, neither the rising cost of materials, administration, nor the diminishing confidence affected too much on their total operation. The rigorous plans from both retail giants have developed on track with great satisfaction. However, the business tactics adopted by these two companies are essentially quite different.

Therefore, it was the differences on the adopted strategies that intrigue our team most with eagerness to find out the secrets of the successfulness through analyzing the accounting report. This report will be divided into two sections, asset valuation and segmental reporting, respectively. The accounting figures from both companies therefore, will be analyzed under these two accounting policies first. Each accounting policy will be assessed with two accounting standard (UK GAAPs or SSAPs) and international standards (IASs or IFRSs) followed by the ratio analysis derived from the financial reporting. Finally, our conclusion based on the previous analysis and discussions will be made.

참고자료

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