Financial Accounting Concepts And Practices

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Arab Open University
B291: TMA – 2nd Semester 2016-2017

About TMA:
The TMA covers the financial accounting concepts and practices in the businesses. It is marked out of 100 and is worth 20% of the overall assessment component. It is intended to assess students’ understanding of some of the learning points within Books 1 to 5. This TMA requires you to apply the course concepts.

The TMA is intended to:
 Increase the students’ knowledge about the reality of the accounting as a profession.
 Assess students’ understanding of key learning points within Books 1 to 5.
 Develop the ability to understand and interact with the nature of the financial statements in reality.
 Develop students’ communication skills, such as memo writing,
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Today, Almarai is the largest vertically integrated dairy company in the Middle East.
During the early 1990s, Almarai entered a period of restructuring and reinvestment that took it from a decentralized to a centralized structure. Five decentralized processing plants were replaced with a central processing plant. Also ten small scattered dairy farms were replaced with four large dairy farms in Al Kharj in the central region. 2005 brought many developments for Almarai, a second larger central processing plant was commissioned, incorporating a new cheese plant, two new super-farms were commissioned and Almarai a publicly listed company that has around 70,000 shareholders.
Access the Al Marai home page at: Access to “Investors” then “Annual reports & Financial information”, and then finally download “2015 Annual Report in PDF form”.
You can directly access the annual report on the below link:, and download the Annual report 2015 in PDF format.


Use the 2015 Annual report of Al Marai to answer the following questions:

1- The presentation of financial accounting information is governed by a combination of legal requirements and accounting regulations and conventions. Different types of business entities are governed by different requirements for the preparation of financial statements. Discuss the different elements of financial statement and support
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