Give a brief overview of the purpose and explain how the following IFRS/IAS’s have been complied with in Barlow world’s group financial statements. Briefly describe the objective of the international Integrated Reporting Council Integrated report framework.

Financial Reporting (IAS & IFRS)

Download a copy of the Annual report for the Barloworld group annual report About Barloworld | Barloworld Limited – AFS 2020 (barloworld-reports.co.za)

a) Give a brief overview of the purpose and explain how the following IFRS/IAS’s have been complied with in Barlow world’s group financial statements:

(i) IFRS 8 Operating segments (20 Marks)

(ii) IAS 33 Earnings per share (20 Marks)

(iii) IFRS 5 Non-current Assets held for Sale (20 Marks)

(60 marks)

2.2.1.1 (i) Briefly describe the objective of the international Integrated Reporting Council Integrated report framework

(ii) Utilising the groups online integrated report, describe and comment on the strategy, business model, the six capitals and strategic enables through which the group seeks to create value over the short, medium and long term and the process used to manage material risks.

(30 marks)

Assignment Guidance Notes

– Your assignment should be no longer than 1500 words in total.

– Make sure that you have the full annual report for 2020 including the consolidated financial statements and notes to the accounts for Barloworld Limited.

The learning outcomes covered by this assessment are:

LO1. Understand the regulatory framework for financial reporting and critically evaluate UK and international approaches to financial reporting regulation

LO2. Explain, apply and critically evaluate the accounting rules contained in IAS and IFRS.

LO3. Understand the effects of different accounting policies on financial statements.