IFRS Case 3-4 (Static) Balance sheet presentation; Vodafone Group, Plc. [LO3-2, 3-3, 3-9]\ 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:\ \ Real World Financials\ \ \ Vodafone Group, Plc.\ Consolidated Statements of Financial Position\ At March 31\ 2017 2016 \ m m \ Long-term assets: \ Goodwill 26,808 28,238 \ Other intangible assets 19,412 30,326 \ Property, plant, and equipment 30,204 35,515 \ Investments in associates and joint ventures 3,138 479 \ Other investments 3,459 4,631 \ Deferred tax assets 24,300 28,306 \ Post employment benefits 57 224 \ Trade and other receivables 4,569 5,793 \ 111,947 133,512 \ Current assets: \ Inventory 576 716 \ Taxation recoverable 150 1,402 \ Trade and other receivables 9,861 11,561 \ Other investments 6,120 5,337 \ Cash and cash equivalents 8,835 12,922 \ Assets held for sale 17,195 3,657 \ 42,737 35,595 \ Total assets 154,684 169,107 \ Equity (details provided in complete statements) 73,719 85,136 \ Long-term liabilities: \ Long-term borrowings 34,523 37,089 \ Deferred tax liabilities 535 564 \ Post employment benefits 651 565 \ Provisions 1,130 1,619 \ Trade and other payables 1,737 1,899 \ 38,576 41,736 \ Current liabilities: \ Short-term borrowings 12,051 20,260 \ Taxation liabilities 661 683 \ Provisions 1,049 958 \ Trade and other payables 16,834 19,896 \ Liabilities held for sale 11,794 438 \ 42,389 42,235 \ Total equity and liabilities 154,684 169,107 \ \ \ Required:\ 1. Describe the differences between Vodafones 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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1 Differences between Vodafones Balance Sheets and a Typical US Company Balance Sheet Vodafone Group Plc prepares its financial statements in accordan... View the full answer