Jonathan Atwood, a student from England, shows you the following balance sheet from his father€™s British company. Jonathan knows that you are studying accounting and asks you to look at the statement. You immediately recognize some differences between this statement and the ones you have been studying in your textbook.

1. Identify the differences that exist between this British statement and those prepared using the standards and conventions of the United States.
2. Evaluate the differences, identifying strengths and weaknesses of each nation€™sapproach.

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Group 31 December NOTES 1,155.I 17 Investments short-term loans and deposits Cash at bank and In hand Creditors: amounts falling due within one year Net current assets (labilitles) Total assets less current labiltles 1,185.9 lties Creditors: amounts falling due after more than one year Provisions for llabilitles and charges Called-up share capital account reserve account Interests 0 23-5 6411-2 -.2 89-7 5-0) 4) 9-8 7640-7 1-5 75 98-54-00 2 26 0.5-i 201 7 1.6 2 2 201-201 $3.罡85-4) 5) (霊 4. 5 5-4一互_ .6 4 7 6-32-5 07, 22, 25-1-34 2 3분 73 2 7 6-3 05, s- (3 (-(5-6-2-5-6 106-9-3) 9-7-2 904-3)-9= 7688-90-9 フ-28 40 (9| 5 | 8| 17 8 9 1 76 88 345 9 9