Vodafone Group, Plc., a U.K. company, is the largest mobile telecommunications network company in the world. The company prepares its financial statements in accordance with International Financial Reporting Standards. Below are partial company balance sheets (statements of financial position) included in a recent annual report: 

Required: 

1. Describe the differences between Vodafone’s balance sheets and a typical U.S. company balance sheet. 

2. What type of liabilities do you think are included in the provisions category in Vodafone’s balance sheets?

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Vodafone Group, Plc. Consolidated Statements of Financial Position At March 31 2017 2016 £m £m Long-term assets: Goodwill 26,808 28,238 30,326 Other intangible assets Property, plant, and equipment 19,412 30,204 35,515 (continued)