GlaxoSmithKline Plc. (GSK) 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 Reporting Standards. Review the attached Consolidated Statement of Cash Flows for GlaxoSmithKline Plc. (pg 19).

Required: Identify the items in the statement that would be reported differently if the statement was prepared according to U.S. GAAP rather than IFRS. In your opinion, which presentation is more helpful to a potential investor? Justify your response.

Cash flow from investing activities Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Purchase of intangible assets Proceeds from sale of intangible assets Purchase of equity investments Proceeds from sale of equity investments Contingent consideration paid Purchase of businesses, net of cash acquired Disposal of businesses Investments in associates and joint ventures \begin{tabular}{rrr} (1,226) & (1,265) & (1,344) \\ 68 & 95 & 168 \\ (1,013) & (898) & (452) \\ 1,255 & 404 & 256 \\ (411) & (258) & (309) \\ 3,269 & 69 & 151 \\ (120) & (113) & (153) \\ 15 & (3,571) & \\ 259 & 104 & 26 \\ (4) & (11) & (10) \\ & & 3 \\ (1) & 1 & \\ 39 & 82 & 72 \\ 31 & 7 & 39 \\ \hline 2,161 & (5,354) & (1,553) \\ \hline \end{tabular} Proceeds from disposal of interests in associates (Increase)/decrease in liquid investments Interest received Dividends from associates, joint ventures and equity investments Net cash inflow/(outflow) from investing activities Cash flow from financing activities Issue of share capital Purchase of non-controlling interests Increase in long-term loans Repayment of short-term Notes (Repayment of)/increase in other short-term loans Repayment of lease liabilities Interest paid Dividends paid to shareholders Distributions to non-controlling interests Contributions from non-controlling interests Other financing cash flows Net cash outflow from financing activities Increase in cash and bank overdrafts Cash and bank overdrafts at beginning of year Exchange adjustments Increase in cash and bank overdrafts \begin{tabular}{rrr} 4,831 & 4,087 & 3,600 \\ (39) & (82) & 8 \\ 470 & 826 & 479 \\ \hline 5,262 & 4,831 & 4,087 \\ \hline \end{tabular} Cash and bank overdrafts at end of year comprise: Cash and cash equivalents Cash and cash equivalents reported in assets held for sale Overdrafts Cash flow from investing activities Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Purchase of intangible assets Proceeds from sale of intangible assets Purchase of equity investments Proceeds from sale of equity investments Contingent consideration paid Purchase of businesses, net of cash acquired Disposal of businesses Investments in associates and joint ventures \begin{tabular}{rrr} (1,226) & (1,265) & (1,344) \\ 68 & 95 & 168 \\ (1,013) & (898) & (452) \\ 1,255 & 404 & 256 \\ (411) & (258) & (309) \\ 3,269 & 69 & 151 \\ (120) & (113) & (153) \\ 15 & (3,571) & \\ 259 & 104 & 26 \\ (4) & (11) & (10) \\ & & 3 \\ (1) & 1 & \\ 39 & 82 & 72 \\ 31 & 7 & 39 \\ \hline 2,161 & (5,354) & (1,553) \\ \hline \end{tabular} Proceeds from disposal of interests in associates (Increase)/decrease in liquid investments Interest received Dividends from associates, joint ventures and equity investments Net cash inflow/(outflow) from investing activities Cash flow from financing activities Issue of share capital Purchase of non-controlling interests Increase in long-term loans Repayment of short-term Notes (Repayment of)/increase in other short-term loans Repayment of lease liabilities Interest paid Dividends paid to shareholders Distributions to non-controlling interests Contributions from non-controlling interests Other financing cash flows Net cash outflow from financing activities Increase in cash and bank overdrafts Cash and bank overdrafts at beginning of year Exchange adjustments Increase in cash and bank overdrafts \begin{tabular}{rrr} 4,831 & 4,087 & 3,600 \\ (39) & (82) & 8 \\ 470 & 826 & 479 \\ \hline 5,262 & 4,831 & 4,087 \\ \hline \end{tabular} Cash and bank overdrafts at end of year comprise: Cash and cash equivalents Cash and cash equivalents reported in assets held for sale Overdrafts