Turn to the annual report of a listed company which you have used for activities in previous chapters. Find every item of information about non-current (fixed) assets. (Start with the financial statements and notes but look also at the strategic report, chief executive’s review and other non-regulated information about the company.) As a group, imagine you are the team of fund managers in a fund management company. You are holding a briefing meeting at which each person explains to the others some feature of the companies in which your fund invests. Today’s subject is non-current (fixed) assets. Each person should make a short presentation to the rest of the team covering:

1. The nature and significance of non-current (fixed) assets in the company;

2. The asset lives stated in the accounting policies for depreciation purposes;

3. The asset lives estimated by you from calculations of annual depreciation as a percentage of asset cost;

4. The remaining useful life of assets as indicated by comparing accumulated depreciation with asset cost;

5. The company’s plans for future investment in non-current (fixed) assets.