The financial statements of M&S (GBR) are presented in Appendix A. The company's complete annual report, including the notes to the financial statements, is available online
Instructions
Refer to M&S's financial statements and the accompanying notes to answer the following questions
a. Examining each item in M&S's statement of financial position, identify those items that require present value, discounting, or interest computations in establishing the amount reported. (The accompanying notes are an additional source for this information.)
b. 1. What interest rates are disclosed by M&S as being used to compute interest and present values?
2. Why are there so many different interest rates applied to M&S's financial statement elements (assets, liabilities, revenues, and expenses)?