The financial statements of M&S are presented in Appendix E. The companys complete annual report, including the

Question:

The financial statements of M&S are presented in Appendix E. 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. Does M&S report any intangible assets and goodwill in its financial statements and accompanying notes? Briefly explain.

b. How much selling and marketing expenses does M&S report in 2016 and 2017? Briefly discuss the significance of these expenses to M&S’s operating results.

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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