Vodafone Group, Plc, a U.K. company, is the largest mobile telecommunications network company in the world. The company prepares its financial statements in accordance with International Financial Reporting Standards. Below are partial company balance sheets (statements of financial position) included in a recent annual report:

Required:
1. Describe the differences between Vodafone's balance sheets and a typical U.S. company balance sheet.
2. What type of liabilities do you think are included in the provisions category in Vodafone's balance sheets?

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Vodafone Group, Plc. Consolidated Statements of Financial Position At March 31 2015 2014 Em Em Long-term assets: Goodwil Other intangible assets Property, plant, and equipment Investments in associates and joint ventures Other investments Deferred tax assets Post employment benefits Trade and other receivables 22,537 20,953 26,603 3,757 23,845 169 4,865 102,726 23,315 23,373 22,851 114 3,553 20,607 35 3.270 97,118 Current assets: Taxation recoverable Trade and other receivables Other investments Cash and cash equivalents Assets held for sale 482 575 8,053 3,855 6,882 441 808 8,886 4,419 10,134 34 24,722 121,840 19,847 122,573 67,733 Total assets 71,781 Equity (details provided in complete statements) Long-term llabllltles Long-term borrowings Taxation liabilities Deferred tax liabilities Post employment benefits Provisions Trade and other payables 21,454 50 747 584 846 1,339 25,020 22,435 595 567 1,082 1,264 25,943 Current llabilities: Short-term borrowings Taxation liabilities Provisions Trade and other payables 12,623 599 767 14,908 28,897 122,573 7.747 873 963 15.456 25,039 121,840 Total equty and labilities