Mycroft’s Chief Financial Officer(CFO) - Financial Assignment

Internal code: MAS6347

Financial Assignment:

Mycroft plc is a manufacturer of computer hardware and accessories (Information Technology or IT from now on). It was established in the UK in 1975 and has become a well-established supplier to IT retailers particularly in Western Europe and North America (but has begun to make progress in selling to the African, Asian, Middle Eastern and South American markets). This grew into a multi-national company (based in the UK) was supported by becoming a publicly listed company (plc) in 1995, listed on the London Stock Exchange. The present Chairman of the company is Mary Morstan, who has been with Mycroft since 1988 and is the daughter of the company’s founder, John Watson, who died in 2004, after which Mary became Chairman. Questions: 1) For Mycroft Plc, consider the THREE descriptions above and FOR EACH OF THEM state whether it would be shown as a transaction in the Statement of Profit or Loss (SPL) or a balance in the Statement of Financial Position 2) Mycroft’s Statement of Profit or Loss and other Comprehensive income (SPLOCI) feeds into the Statement of Financial Position (SOFP); 3) Mycroft’s SOFP feeds into the Statement of Cash flows (SOCF);