M &S annual report Essay Example | Topics and Well Written Essays - 1000 words

M &S annual news report - Essay Exampleng term sustainable business values, generate a continuous profit growth to the sh areholders and make customers extremely satisfy their growing wants and thus to achieve long term goals of the company. The directors, according to Companies Act that came in to put up on October 2007, have the central duty to act in good faith and in such a way that it should promote the company in its success. administrator Chairman Lord Burns was influential in preparing rules and he has been considered to be independent under The Combined Code. Lord Burns had met an independence banner that was set out in The Combined Code on his appointment on July 2006.The Code states that if exceptionally a Board decides that a Chief Executive should become Chairman, the Board should consult major shareholders in advance and should set out its reasons to shareholders at the time of the appointment and in the next annual report(M&S, 2008). On April 2008, Lord Burns wrote a letter to the shareholders stating the reasons behind boards decision to appoint new chairman.Mens socks at stores are considered to be inventories and are valued at the lower of cost and net realizable value using the retail method. It is computed on the basis of selling set less the appropriate trading margin.Earning per share is calculated on the basis of earnings after tax and the weighted average number of ordinary shares. The alter earnings per share are calculated on the basis of earnings excluding the effects of property disposals and exceptional