GlaxoSmithKline is a global pharmaceutical and consumer health-related products company located in the UnitedKingdom. The company prepares its financial statements in accordance with International Financial ReportingStandards.Required:1. Use the Internet to locate GlaxoSmithKline’s most recent annual report. The address is www.gsk.com/en-gb/investors/. Locate the significant accounting policies disclosure note.2. How does the company value its property, plant, and equipment? Does the company have any other optionsunder IFRS for valuing these assets? How do these options differ from U.S. GAAP?3. What are the company’s policies for possible reversals of impairment losses for goodwill and for othernon-current assets? How do these policies differ from U.S. GAAP?
GlaxoSmithKline is a global pharmaceutical and consumer health-related products company located in the United
Kingdom. The company prepares its financial statements in accordance with International Financial Reporting
Standards.
Required:
1. Use the Internet to locate GlaxoSmithKline’s most recent annual report. The address is www.gsk.com/en-gb/
investors/. Locate the significant accounting policies disclosure note.
2. How does the company value its property, plant, and equipment? Does the company have any other options
under IFRS for valuing these assets? How do these options differ from U.S. GAAP?
3. What are the company’s policies for possible reversals of impairment losses for
non-current assets? How do these policies differ from U.S. GAAP?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
