...BACK COVER FRONT COVER OUTSIDE FLAP Contents Tesco PLC Annual Report and Financial Statements 2014 Strategic report IFC Tesco at a glance IFC Highlights 01 Chairman’s statement 03 Report from the Chief Executive 08 Market overview 10 Business model 12 Financial review 16 Key performance indicators 19 Other statutory disclosures 20 Principal risks and uncertainties Corporate governance 26 28 30 41 62 Tesco PLC Annual Report and Financial Statements 2014 Board of Directors Executive Committee Corporate governance report Directors’ remuneration report Directors’ report Financial statements 64 Statement of Directors’ responsibilities 65 Independent auditors’ report to the members of Tesco PLC 69 Group income statement 70 Group statement of comprehensive income 71 Group balance sheet 72 Group statement of changes in equity 73 Group cash flow statement 73 Reconciliation of net cash flow to movement in net debt note 74 Notes to the Group financial statements 122 Tesco PLC – Parent Company balance sheet 123 otes to the Parent Company financial statements N 131 ndependent auditors’ report to the members of I Tesco PLC (Parent Company financial statements) Other information 132 Supplementary information (unaudited) 143 Financial calendar 143 Glossary 144 Five-year record There’s a lot more content online Go online to find out more about our performance, hear from our leadership...
Words: 20862 - Pages: 84
...Problem #1: Using either a graph or table (Refer to page 22 for help with graphs and tables) use two goods to construct a production possibilities curve. Clearly explain what a variety of different points on the curve mean. This production curve shows the weighing of producing controllers for X-box ones vs the X-box one produced. If too many controllers are made you don’t have enough X-box ones. This isn’t a one on one relationship because each X-box can use more than one controller. What would make the curve expand or contract? If the number go outside of the curve efficiency is lost and there become a production imbalance. Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced? At the extremes you would either produce too many ocntrollers and not enough x-boxes or vice versa. Problem #2 Part A: Go to the internet auction site eBay® at www.ebay.com and select the category Jewelry and Watches, followed by Loose Diamonds and Gemstones, and then Diamonds, Natural. How many natural diamonds are for sale at the moment? 216,679 natural diamonds on sale at the moment. Note the wide array of sizes and prices of the diamonds. The price range was from $4,500,000 to 1 cent. The size of diamonds for sale ranged from .008 carats to 30.45 carats. In what sense is there competition among the sellers in this market? Most of the sellers are trying to set a price that allows them to get rid of their diamonds...
Words: 1002 - Pages: 5
...Course Code: BIRMI 1A15 Unit 1 – Basic Hypnotherapy Techniques (Ofqual Ref. M/505/8186) Homework Assignment – Journal Entry Module 1 (1 – 1.1) Explain the state of hypnosis. Looking back, it is clear now that hypnosis has been around for many centuries and the use of hypnotic states can be traced back to Shamans or Witch Doctors. In the 1700’s Franz Anton Mesmer produced his theory of “animal magnetism” in which he believed healing forces could be transferred through “cosmic fluid” there is no evidence to support the transfer of the healing energies devised by Mesmer but his success rate was high which lead to his patients being described as “mesmerized” and mesmerism is an early forerunner for modern day hypnosis. Many theories utilising a hypnotic state then followed but it was not until an English physician called James Braid (1795-1860) giving mesmerism a scientific explanation of a “nervous sleep” introducing the word hypnosis derived from the Greek word for sleep Hypnos. Many theories evolved from this view and hypnosis eventually gained acceptance as a naturally occurring phenomenon. In the 1950’s hypnosis began a renaissance as it became recognized for the therapeutic potential in the fields of behavior modification and healing. Hypnosis can be categorised as a trance state or altered level of consciousness. Our minds are split between our conscious and subconscious states and we are able to switch between the two often unaided and without realising. A good...
Words: 1042 - Pages: 5
...Stage 2 Developing Table of Contents Stage 2 DevelopingTable of Contents 0 Table of Contents 1 1.1 Key factors in case study 2 1.2 Likely financial needs of the clients 7 1.2.1 Savings 8 1.2.2 Insurance 8 1.2.3 Investment 8 1.3 Suggestions how the needs can be resolved 9 1.4 Likely providers 9 1.5 Relevant products and services 11 1.5.1 Savings 11 1.5.2 Insurance 14 1.5.3 Investment 15 1.6 Reviewing the customer service provision 17 1.6.1 Citibank 17 1.6.2 AXA 19 1.6.3 Lloyds TSB Bank 19 1.6.4 NS&I 20 1.6.5 HSBC 22 1.7 Reviewing the extent to which funds are protected or at risk 22 1.7.1 Savings 23 1.7.2 Investments 23 1.7.3 Insurance 23 1.7.4 Pension 23 1.8 Identifying the criteria on which to base the decisions 24 1.9 Justification for selection 25 1.9.1 Benefit-needs analysis 25 1.9.2 Comparison with other providers, products and service 26 1.9.3 Tax implications 27 1.9.4 Risk implications 29 1.9.5 Analysis of the customer service commitments 30 1.9.6 Compensation analysis 30 1.10 Conclusion 31 References 34 1 Key factors in case study In the case, I will give you a brief introduction about key factors in this case. My clients are Duncan Kenndy and Elaine, a retired couple. Duncan Kennedy is a 64 years old man. And he is a retire government...
Words: 9234 - Pages: 37
...A Summary of Unit One Tim Yarbrough Post University A Summary of Unit One As writers sometimes you will need to summarize someone else’s thoughts or ideas. In order to do this properly you must, briefly restate, someone else’s content, in your own word’s (Behrens & Rosen, 2013, p. 3). When writing requires paraphrasing instead of quotations the writer needs to understand the work then put it to his/her own words. Quotation are only used when you need to use the exact language of someone else, these should be used scarcely. When writing, knowing how to write a summary, paraphrase, and quote a source is key conveying your ideas without plagiarizing someone else’s. While developing a summary there are some key things to remember. When you are summarizing someone else work you must read and understand the authors work. Without understanding the context and main points of someone’s work you will not be able to put it into your own words. Although it is unreasonable to think that while writing a summary someone can be completely objective, that is the goal. While writing a summary just like writing anything else a key in the process is preparation. As stated before understanding the work you are summarizing if crucial to the writing process. Reading, writing summary’s as you read the work, developing your thesis, writing your summary, checking it against the original and then final revision are the steps that should be taken to effectively...
Words: 563 - Pages: 3
...Benihana of Tokyo Some restaurateurs like myself have more fun than others, says Hiroaki (Rocky) Aoki, youthful president of Benihana of Tokyo. Between 1964, when he opened his first location, and 1972 he had gone from deficit net worth to being president of a chain of 15 restaurants that grossed over $12 million per year. Background By 1972 Benihana was basically a steakhouse with a difference--the food was cooked in front of the customer by Japanese chefs, and the decor was that of an authentically detailed Japanese country inn. From a humble 40-seat unit opened in midtown Manhattan in 1964, Benihana had grown to a chain of 15 units across the country. Nine were company-owned locations: New York (3); San Francisco; Chicago; Encino and Marina del Rey, California; Portland, Oregon; and Honolulu. Five were franchised: Boston, Fort Lauderdale, Beverly Hills, Seattle, and Harrisburg, Pennsylvania. The last unit, Las Vegas, was operated as a joint venture with Hilton Hotels Corporation. Rocky, who was a former Olympic wrestler, described his success as follows: In 1959, I came to the United States on a tour with my university wrestling team. I was 20 at the time. When I reached New York, it was love at first sight! I was convinced that there were more opportunities for me in America than Japan. I decided to enroll in the School of Restaurant Management at City College basically because I knew that in the restaurant business I’d never go hungry. I earned money those...
Words: 5688 - Pages: 23
... | | |PAGE | | | | |NO. ALL | |TC 25-20 |A Leader’s Guide To After Action Reviews |Sept 93 |All | |TC 25-10 |A Leader’s Guide To Lane Training |Aug 96 |Chapter 5 | Student Provide Slides to students one day prior to the start of class. Students Study must be prepared to discuss the Slides during class. Scan TC 25-20. Assignments Instructor One instructor, familiar with TC 25-20, Requirements Additional None Personnel Requirements Equipment Overhead Projector, Screen Required Materials INSTRUCTOR MATERIALS: After Action Review Transparencies Required STUDENT MATERIALS: None Classroom, One Standard Classroom Training Area, and Range Requirements Ammunition None Requirements Instructional Note: Before presenting this lesson, instructors must thoroughly prepare by...
Words: 4137 - Pages: 17
...Question: O.T company manufactures and sells two types of wooden deck chairs: Deluxe and Standard. Annual sales in units, direct labour hours (DLHs) per unit, and total direct labour hours per year are provided below. Deluxe deck chairs: 2,000 units × 5 DLHs per unit................. 10,000 Standard deck chair: 10,000 units × 4 DLHs per unit............... 40,000 Total direct labour hours 60,000 Cost for direct materials and direct labour for one unit of each product are given below: Deluxe Standard Direct materials....................................................... $25 $17 Direct labour ( at $12 per DLH)............................... $60 $48 Manufacturing overhead costs total $800,000 each year. The breakdown of these costs among the company’s six activity cost pools is given below. The activity measures are shown below. Activities & Activity Measure Estimated Overhead Expected Acitivity Cost Deluxe Standard Total Labour related (direct labour hours) $80,000 10,000 40,000 50,000 Machine Setups (number of setups) $150,000 3,000 2,000 5,000 Part administration (number of parts) $160,000 50 30 80 Production orders (number of orders) $70,000 100 300 400 Materials receipts (number of receipts)...
Words: 909 - Pages: 4
...net/scoit/dataintegrity/dataintegritymm/Lists/Asset%20Add/AllItems.aspx 2. Click on Request Status 4- Accounting 3. 4. Select an asset business unit 5. Write down the Purchase Order 6. Open people soft 7. Go to main menu-purchasing-purchase orders- review PO info-Purchase Orders 8. Business Unit is PUR01 and the PO ID. Click Search 9. Open new tab in Peoplesoft 10. Main Menu-Asset Management-Send/Receive Information-Preview AP/PO Information. Enter Purchase Order Number. Click Search 11. Click on Pre-Am Physical Tab 12. Input Description, Serial ID, Manufacturer and Model and save it. Get this info from the Data Integrity website. Save 13. Then go to Main Menu-Asset Management-Send/Receive Information- Retrieve info from AP/PO. 14. Change Process Option to either Process Purchase Order or Process Voucher 15. Input for Purchase Order PUR01 for PO Unit and the PO Number 16. Input for a Voucher AP001 for AP Unit and the Voucher ID. 17. Push run and then select process monitor and wait for the Run status and Distribution Status to say Success and Posted 18. Then Click Details-Message Log- and write down the interface ID. 19. Then go to Main Menu-Asset Management-Send/Receive Information-Approve Financial Information-Review. 20. Input the Interface ID and the Business Unit 21. Input the UNIT, Category, Department, Check the Auto Approve Status and enter in the correct TRANS DATE and ACCTG DATE. Save. VERY VERY IMPORTANT TO...
Words: 709 - Pages: 3
...identify, describe, and critique personal views on the place of understanding self-knowledge from the point of view of both the teacher and the student. The paper will also provide an evaluation of the sequence and organization of instruction that was used during at least two teaching assignments (units). The focus of this evaluation will be toward the effectiveness of the sequence and organization in accomplishing the desired understanding expected from students. To allay the purpose of the paper, criteria from Grant Wiggins and Jay McTighe’s (2005) “backward design” will serve as a background for much of the information included in the paper. According to Wiggins and McTighe (2005), self-knowledge is “the wisdom to know one’s ignorance and how one’s patterns of thought and action inform as well as prejudice understanding” (p. 100). In consideration of today’s teaching milieu, it is possible that there are far too many instructors who are not familiar with the positive academic gains that they could bestow upon their students by paying attention to criteria that warns against instruction is devoid of any understanding, appreciation or acknowledgement of students’ self-knowledge. One of the greatest teachers and philosophers of Western thought, Socrates (Wiggins & McTighe, 2005, p.101) “is the patron saint of understanding. He knew he was ignorant, whereas most people did not realize they were.” In other words, Socrates knew that he did not know anything and/but that was more...
Words: 1832 - Pages: 8
...the profit share that they should get and also decide how to split it. It creates the feeling of ownership, says semler. Employees enjoy 25 % of company’s total profit. It directly affects their efficiency. The way of working is different by the employees when they have a sense of ownership. Profit sharing give them a reason to do things better. They work more sincerely and with more effort. In this way employees themselves can decide that what they will get at the end of the year. Free flow of information: Each piece of information is available to everybody. Nothing is kept as secret. Every employee is trained how to read a balance sheet, how different units in the organization works. Information tells people what’s working in the organization and what’s not. Everybody in company have access to the company’s books. Only one set of books wa there which was open for inspection and audit. The executives don’t want employees to think that they were holding back any sort of information. Organizational culture inception: In...
Words: 794 - Pages: 4
...successes and solve some coordination problems. They are also known for encouraging associates to focus on achievement through collaboration and innovation. Finally, Novartis with their performance oriented culture coupled with the responsible approach with integrity based creativity, dedication and performance of it associates are some of the commonly held values and belief in the company. They also believe that equality of opportunities, mutual respect and dignity at work help bring the best out of its employees and associates. (2) Are units tightly or loosely coupled? Answer: Novartis units are loosely coupled. All researchers in the various divisions are motivated to focus on discovering new drugs that will change the practice of medicine while investing in maintaining and improving what they do best by producing and delivering the right medicine at the right time to the right patient. The organizational structure is also based on divisional units...
Words: 697 - Pages: 3
...CS113: Academic Strategies for the Business Professional Unit 2 Time Management Assignment Full Name: Armijo Cooper Two-digit Section #: 18 Download this document to your computer before filling it out. Save the document (using Save As) as “YourName-Unit 2-TimeManagement” (YourName should be your first and last name. Example: “JohnDoe-Unit2-TimeManagement.doc”). Add your full name and the two-digit section number for this CS113 course to the top of this page. Objective: Consider the time needed to succeed in school. For each course you take, you should allot 12–15 hours for reading, posting Discussion comments, attending Seminars, completing Assignments, reviews and Quizzes (in applicable units). This means that if you have two courses, 24–30 hours should be allotted to school work on this calendar. >>>>> Make sure to complete Item B – Reflection as well! <<<<< Directions: Map out your academic calendar for Unit 2. You may also include any other important activities (personal or work related) during the time period for this Assignment. Save often as you work on this. CHALLENGE: Make this calendar a useful tool that you will continue to utilize throughout the entire term! Item A – Unit 2 Calendar Unit 2 Calendar: Please recognize that Wednesday is the first day of your school week. Place your times and tasks within each segment. Notice the day has been separated into three parts. Your document may expand automatically as you type. Keep this structure...
Words: 1269 - Pages: 6
...120 History and Theory: Introduction Assessment Brief* (*please read in conjunction with unit outline document) ---------------------------------------------------------------------------------------------------------------------------------- Key dates Assessment set: Tuesday 8 January 2013 First* group meeting (with tutors): Wednesday 24 January (studios 1,3,5) Wednesday 31 January (studios 2,4,6) (*Groups are expected to meet outside of these timetabled sessions in order to complete this work.) Drop-in help sessions: Wednesdays, 10am to 12 midday (weeks 5,7,8,9,10,11,12) (studio outside PO2.20 – for individuals and groups) Submission date (exhibition): 1 May 2013 (week 2 consolidation and assessment period) ---------------------------------------------------------------------------------------------------------------------------------- Introduction You carried out a range of research tasks during teaching block one, which enabled you to develop your research skills, as well as deepening your subject knowledge by following particular interests. These tasks were not assessed, but will be of great help to you for your assessed work in teaching block two. Throughout teaching block two you are required to undertake an individual research project, focussing on one space from the list attached. You will present this research in the form of a research journal (artefact one). Each studio has been allocated a ‘type’ of space, either domestic, sacred or public and...
Words: 2957 - Pages: 12
...What is effective management? This will be one dimension that you will have to reflect on throughout the unit – some questions that might arise is there such a thing as ‘one best way’ of being effective? Does being effective require a set of skills, or is it more about being adaptable and flexible? Is it more effective to think of management as the sole locus of the manager, or as a group or ever organizational dynamic? Gender Equality/Balance – were more women just not choosing promotions? More complex than that – See Acker article on Moodle to help start thinking through these ideas! Administrative Management The influence on the workplace of the KIPPER phenomenon The KIPPER phenomenon is just one example of a social dynamic that can have an influence on the workplace (e.g. people having to stay in work longer and retire later in order to financial support adult children). At a more general level it highlights how different social or cultural trends always have an influence or organizational life. Definitions are always difficult I agree – and there are lots of definitions! A good place to start is think about the academic definition given to a term in a text book or, better still, an academic paper, and then think how this might translate into an organizational setting. The framework for the unit Broadly speaking, the unit starts off at an individual level and them moves towards ideas which are more group-based, then more organizational based. However, this...
Words: 386 - Pages: 2
