Question

***Basic company facts:
Name of the firm: Britannia
Category of the firm: FMCG
State of incorporation: Kolkata, West Bengal, India.
Year of foundation: 1918
Primary & secondary SIC codes: N/A
Independent auditor: BSR & Co
Shares listed in: Bangalore stock exchange, national stock exchange, OTCEI, madras stock exchange, Delhi stock exchange, MCX stock exchange etc.
Stock ticker symbol: BRITANNIA

2. “Special items” are not typical and do not appear on all income statements. Identify any special items that appear on your company’s income statement. The follow include special items that might appear on your company’s income statement:

  • Income (or loss) for discontinued operations
  • Extraordinary gain (or loss)
  • Cumulative effect of a change in an accounting principle

If any of these special items appeared on any of the income statements for the last three years, indicate the year and the amount, and explain the underlying event/transaction that caused the item to arise.

Basic Income Statement Information	Most Recent Year	Next Most Recent Year	Second Most Recent Year
Income (or loss) for discontinued operations
Extraordinary gain (or loss)
Cumulative effect of a change in accounting principle

Please explain why.

Answer 1