A recent balance sheet for Pittards, PLC, a British company, follows. The companys principal activities are the

Question:

A recent for Pittards, PLC, a British company, follows. The company’s principal activities are the design, production, and procurement of technically advanced leather. The Group consolidate the accounts of Pittards, PLC, and all its subsidiary undertakings. (References to financial statement notes that appear on the original have been omitted.)

Required:
1. Examine the Pittards and identify at least three differences between balance sheets as presented in the United Kingdom and the United States.
2. Compare the Pittards with the Burberry Group in Exhibit 4.3 and identify at least three differences between them.
3. Review Pittards’ and discuss how its format provides useful information to investors and creditors.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...