The financial statements of M S (GBR) are presented in Appendix A 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 What were M ...

a 2016 Revenues 105554 million b MSs revenues increase ...

The financial statements of M&S (GBR) are presented in Appendix A. The company's complete annual report, including

Question:

The of M&S (GBR) are presented in Appendix A. The company's complete annual report, including the notes to the is available online.
Instructions
Refer to M&S's and the accompanying notes to answer the following questions.
a. What were M&S's sales for 2016?
b. What was the percentage of increase or decrease in M&S's sales from 2015 to 2016?
c. In its notes to the what criteria does M&S use to recognize revenue?
d. How does M&S account for discounts and loyalty schemes? Does the accounting conform to accrual-accounting concepts? Explain.
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...