About an Omani company which is named "National Gas Company".
Q.1 "Intangible assets are identifiable, non-monetary assets, so they may not affect the financial statements".
Critically assess this statement, showing how intangible assets can be valued and how the financial statements may be affected. Examples are required to illustrate your points.
Q.2
"A huge concern seems to be in harmonization of accounting practices and standards. If the accounting standards were the same all over the world, then surely the understanding of financial statements would be easier. Critically evaluate this statement, showing what are the difficulties of harmonization.
Q.3
Examine the annual report of a large publicly listed company to ascertain the information disclosed on matters relating to corporate governance (with reference to the Code of rate for public listed Omani companies).
Write a report based on your findings where you:
- Critically evaluate the use of the Code of Corporate Governance for public listed Omani companies (with reference to Cadbury, Greenbury, Hampel and the "Combined Code "reports).
- Critically evaluate the significance and usefulness of the information disclosed.