This case spans all 12 chapters and is based on the consolidated financial statements of Nestl Corporation.

This case spans all 12 chapters and is based on the consolidated financial statements of Nestlé

Corporation. As you work with Nestlé throughout this course, you will develop the confidence and ability to use the financial statements of other companies as well. Refer to Nestlé’s consolidated financial statements in Appendix A. If you wish, you can obtain the full annual report from www.nestle.com/investors. You may find the information overwhelming for now, but try to spot the key principles that we have discussed in this chapter. It will get progressively easier as you gain familiarity with the elements of the financial statements.

Requirements 1. Do Nestlé’s Balance Sheet and Income Statement conform to requirements of IAS 1?

2. Did Nestlé use a single statement or a two separate statements option for its statement of comprehensive income?

3. Why would trade and receivables appear under both current assets and non-current assets?

Similarly, why would trade and other payables, provisions, and taxation liabilities appear on both current and non-current liabilities?

4. IAS 1 does not require three years of Income Statement information. Why do you think Nestlé

would go beyond the requirements of an accounting standard?