Presented below is the balance sheet for Tomkins plc, a British company.

Instructions(a) Identify at least three differences in balance sheet reporting between British and U.S. firms, as shown in Tomkins?? balance sheet.(b) Review Tomkins?? balance sheet and identify how the format of this financial statement provides useful information, as illustrated in thechapter.

Tomkins plc Consolidated Balance Sheet (amounts in millions) Non-current assets Goodwill Other intangible assets Property, plant and equipment Investments in associates 436.0 78.0 1,122.8 20.6 Trade and other receivables 81.1 Deferred tax assets 82.9 Post-employment benefit surpluses 1.3 1,822.7 Current assets Inventories 590.8 753.0 Trade and other receivables Income tax recoverable Available-for-sale investments Cash and cash equivalents 49.0 1.2 445.0 1,839.0 Assets held for sale 11.9 3,673.6 Total assets Current liabilities Bank overdrafts 4.8 Bank and other loans Obligations under finance leases Trade and other payables 11.2 1.0 677.6 15.2 100.3 Income tax liabilities Provisions 810.1 Non-current liabilities 687.3 3.6 Bank and other loans Obligations under finance leases Trade and other payables Post-employment benefit obligations Deferred tax liabilities 27.1 343.5 25.3 Income tax liabilities 79.5 Provisions 19.2 1,185.5 Total liabilities 1,995.6 Net assets 1,678.0 Capital and reserves Ordinary share capital Share premium account 79.6 799.2 Own shares (8.2) 921.8 Capital redemption reserve Currency translation reserve Avallable-for-sale reserve (93.0) (0.9) Accumulated deficit (161.9) 1,536.6 Shareholders' equity Minority interests Total equity 141.4 1,678.0