Advanced Financial Accounting

| February 9, 2015

Coursework instructions and requirements

You are required to select a company from the list below, for which the latest annual report

is provided on BB in the coursework folder:

 Diageo

 Thomas Cook

 Alliance Boots

 Nestle

Assume that your report is being prepared for use by the non-executive directors of the

company, who have limited awareness of IFRS. The non-executive directors are unsure of

the accounting requirements in relation to brands and the implications for the financial

statements, and they have asked you to write a report to explain certain matters to them.


Prepare a report in which you:

(a) Suggest, with reasons, what information about brands the investors and lenders of

your chosen company would find useful and comment on whether the information

that you consider important is disclosed in an understandable way in the financial


(b) With reference to the financial statements of your chosen company, comment on the

significance of brands to the company’s financial position and performance.

(c) Looking specifically at amortisation, explain the accounting policy applied to your

chosen company’s brands, and comment on the appropriateness of the accounting

treatment justifying whether you agree with the treatment.

(d) IAS 38 Intangible Assets prohibits the recognition of internally generated brands.

Discuss whether you agree with this.Additional information:

 The word limit is 2,000 words. This does not include tables, footnotes and references.

 You should make reference to the relevant requirements of IFRS, citing the paragraph

reference of relevant requirements and guidance from the standards.

 You may find it useful to refer to other sections of the company’s annual report other than

the financial statements, and the company’s website should be able to provide you with

some background information about their brands.

 Requirement (d) does not need to be specifically related to your chosen company, it can

be a general discussion.

 The mark allocation will be as follows:

 10% -presentation, clarity of discussion and logical flow

 20% – requirement (a)

 20% – requirement (b)

 20% – requirement (c)

 30% – requirement (d)

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