The Questions
Financial Reporting on the Internet
(Case study: AL Marai)
The internet is a good place to get information that is useful to you in your study of accounting. For example, you can find information about current events, professional accounting organizations, and specific companies that may support your study.
Access the Al Marai home page or You can directly access the annual report on the below link:
Financial Reports & Information – Almarai And Download Al Marai 2021Annual report.
Instructions
Use the 2021 Annual report of Al Marai to answer the following questions:
- Stakeholders can affect or be affected by the organization’s actions, objectives and policies. List the different types of stakeholders and give examples from the Al Marai annual report to justify your answer. Also, explain the reason for their interest in the financial statements.
[Marks (Words): 10(300)]
- Key performance indicators tied to the financials are usually focused on revenue and profit margins. Discuss and highlight Key Financial indicators of Al Marai from the Annual report, Support with quantitative data followed by your discussion, which includes your judgment that a business is better off or worse from the previous year’s annual. (your discussion should be based on the information provided in Annual Report).
[Marks (Words): 10(300)]
- IAS 16 Property, plant and equipment identifies and describes two different models of accounting for tangible non-current assets. Discuss the importance of these two models for Al Marai and describe the depreciation methods used by Al Marai
[Marks (Words): 10(100)]
- In preparing financial statements in accordance with IFRS, there are certain accounting policies that may require a judgment or estimation in their application. Give examples of Al Marai estimates and assumptions reported in consolidated financial statements.
[Marks (Words): 10(100)]
- Contingent Liabilities are those obligations that are contingent on events that have not yet taken place. Discuss the contingent liabilities and also provide the contingent liabilities example from the Annual Report of Al Marai.
[Marks (Words): 10(200)]
- Explain why the going concern basis is important in understanding Al Marai’s financial statement; Support your answer with evidence from Al Marai’s annual report.
[Marks (Words): 10(100)]
- Classify the revenue recognition method(s) used by Al Marai as discussed in the annual report. Explain the rationale underlying the appropriateness of methods used by Al Marai.
[Marks (Words): 10(100)]
- Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. Justify your answer and provide an example from the Annual Report of Al Marai.
[Marks (Words): 10(100)]
- Who is the external auditor of Al Marai? Write a summary of the report of the external auditor on the presentation of financial statements.
[Marks (Words): 10(100)]
- Explain the meaning of horizontal analysis and vertical analysis. Describe the importance of horizontal and vertical analysis of financial statements on Al Marai. Give example from the report.
[Marks (Words): 10(200)]
[Total Marks (Words) = 100(1,600)]
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