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College of Banking and Financial Studies
Presentation (oral/viva) Brief – BTEC
Higher National Diploma in Business (Level 5)
Student Name /ID Number
K/508/526 – Unit 13 Financial Reporting
Unit Number and Title
Fall 2020-21
Academic Year
Dr.Roslin/Ms.Komal
Unit Assessor
Mr Vaheed
1
LIVT
Analyse the context and purpose of financial reporting (Presentation)
Assignment Title
th
19
December 2020
Submission Date
Presentation Format:
This assessment component is designed to assess the command verbs used in this learning
outcome LO1 through presentation (oral/viva). Learners are required to prepare a power point
presentation consisting 20 slides (the recommended word limit is 1000 words excluding speaker
notes) analysing the context and purpose of financial reporting. The presentation (expected to be
submitted with white background along with speaker notes) must be submitted in the Turnitin
atleast 2 days before the presentation.
Learners are required to align the presentation to the command verbs (see page 3) so that you
secure desired grades. Your presentation is to utilise the use of headings, paragraphs and
subsections as appropriate, and all work must be supported with research and referenced using
Harvard referencing system.
The file must be saved in the format: student StNo-ID-FR-P1. In case of extenuating situations,
the relevant college policies apply
The assessment will also observe over and above the command verbs, the following transferable
skills:
1. Oral communication
2. Critical thinking
3. Reasoning
4. Creativity
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
Unit Learning Outcome:
Oman Construction Industry:
2
The building construction industry in Oman is expected to record a CAGR of 5.8% to reach OMR
3.9 billion by 2024. The residential construction industry in value terms increased at a CAGR of
3.4% during 2015-2019. The commercial building construction market in value terms is expected
to record a CAGR of 7.9% over the forecast period. To cater to the demand from construction
industry, Oman construction chemical industry offers various product solutions like adhesive
and bonding agents, concrete and mortar admixtures, flooring, water proofing, protective
coating, and other industrial construction chemicals. Over the past few years the construction
industry is showing a declining trend of revenue and government spending for various projects
and added adverse impact of COVID 19 in the year 2020. The Oman Growth Strategy 2040 shows
a positive outlook for the growth of the construction industry. That will have a direct impact on
the construction chemical industry as well.
Gulf International Chemicals SAOG (GIC):
GIC was established in 1996 and is one of the most successful companies in the construction
chemicals industry especially in GCC countries. The company’s head office is based in Muscat,
Sultanate of Oman. GIC is registered in Muscat Securities Market and it is a publicly owned
company which pursues its interest globally. The company develops, manufactures and markets
high quality specialized construction chemicals that are used for every stage of construction and
also provides the necessary support and services for the product application. GIC as the leader
in innovation ensures outstanding product quality with optimal environmental friendliness. The
company’s products are marketed under the brand names TufBond and GIC.
The company manufactures all the products as per the Quality Management System defined by
ISO 9001:2000 and it is been awarded ISO 9001:2000 certificate by Bureau Veritas with UKAS
accreditation.
GIC’s products are periodically tested by independent laboratories such as Bodycote (UAE and
Oman) for its compliance with international standards like ASTM, BS, EN, etc.
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
The vision and mission statements of the company are as follows:
GIC – Philosophy – Mission:
Providing Solutions not Products – GIC manufactures and supplies a proven range of
construction materials for the building and construction industry, manufactured to international
standards. The quality of the products and services will be maintained and assured by an internal
and external assessment programs.
3
Customer service and prompt attention to the requirement of site support, technical
information and delivery are the corner stones by which the company will measure its success.
Products:
GIC produces several construction and industrial chemical products like adhesive and bonding
agents, concrete and mortar admixtures, concrete and repairs admixtures, grouts and anchors,
industrial flooring, joint sealants, protective coatings, surface treatments, water proofing etc.
The product mix is designed for Government, industrial as well as individual customers.
Flagship projects in Oman and UAE:
GIC caters to all the local markets (Oman and UAE) in Civil Engineering and Construction field
and Building infrastructure and thus is a part of various prestigious Projects like:
Grand Mosque (Muscat), IBRI stadium, RAFO Air base Thumrait and Khasab, Mughal Garden
(UAE), King Abdul Aziz Road (UAE), Jumeirah Lake Tower (Dubai) and many more.
Infrastructure and expansion:
GIC manufacturing base is spread over an area of 6000 sq.mt and is setup in Oman at Rusayl
Industrial Area. The factory is geared up for production of powder products in excess of 22,500
MT / annum and for Admixture and other liquids; the factory has a capacity to produce in excess
of 10 million Liters / annum.
In addition to this, GIC Factory located at Sharjah Industrial Area, UAE has a capacity to produce
27 million liters of Admixtures per annum to cater the needs of Ready mix concrete industry.
GIC Products are approved by various ministries in Oman and enjoy a fair amount of confidence
with all leading Consultants and Specifiers. The retail segment in local markets is well covered
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
and caters through nearly 35 outlets who stock / supply GIC Products to local needs. GIC
Products are available across Oman to Salalah, Batinah regions, Sharqiya region, Dhakiliya
region, Muscat etc. The company has various on-going projects in Oman and UAE currently.
International Presence:
4
GIC exports to various GCC countries like Dubai, Qatar, Bahrain, Abu Dhabi and to South Africa
and South-East Asian Countries like Hong-Kong, Singapore etc. GIC has established local
representations in India for more expansion and growth. Future markets are being explored for
the business prospects.
Registration information:
Gulf International Chemicals SAOG is a publicly owned company founded in 1996 in the
Sultanate of Oman and registered with Ministry of Commerce and Industry under Registration
No. 1/53435/1. The objectives of the company are to manufacture and market construction
chemicals and speciality chemicals in the Sultanate as well as in regional markets. The company
has manufacturing facilities in Rusayl Industrial Estate in the Sultanate of Oman and at Sharjah
Industrial Area No. 17 in the UAE. The company serves the construction chemicals industry in
the local markets as well as some international markets.
During the year 2019, United Technical Services LLC, Sultanate of Oman was incorporated as
wholly owned subsidiary. The Principal activities of the subsidiary being road treatment
chemicals and related products manufacturing.
Compliance with IFRS:
The financial statements have been prepared in accordance with International Financial
Reporting Standards (IFRSs), the applicable disclosure requirements of the Capital Market
Authority (CMA) and the relevant requirements of the Commercial Companies Law of 2019.
Required:
In the capacity of a Undergraduate research student of a leading business school in the
Sultanate, prepare a presentation based on the published annual report of GIC for the year 2019,
with the assumption that GIC is seriously considering establishing a joint stock company with
majority controlling interest in Singapore and India as a part of its expansion plan. Your
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
presentation should critically analyses the different regulatory frameworks and governance of
financial reporting applicable to the company, given GIC’s investment strategies and current
market operations.
References:
Muscat Securities Market. (2020). Retrieved 1 October 2020, from
https://www.msm.gov.om/snapshot.aspx?s=GICI
Gulf International Chemicals (SAOG) – About Us. (2020). Retrieved 1 October 2020, from
https://www.gicoman.com/aboutus_gic_approvals.shtml
5
Oman Construction Market | Growth, Trends, and Forecast (2019 – 2024). (2020). Retrieved 1 October
2020, from https://www.mordorintelligence.com/industry-reports/oman-construction-market
Attachments:
1. Company Report
1_GICI_CompanyRep
ort_09002020_21.pdf
2. Balance Sheet
2_GICI_BalanceSheet
_09002020_21.pdf
3. Income Statement
3_GICI_IncomeState
ment_09002020_21.pdf
4. Cash Flow Statements
4_GICI_CashFlowStat
ements_09002020_21.pdf
5. Stockholder Equity
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
5_GICI_StockHolderE
quity_09002020_21.pdf
6. Notes to accounts
6_GICI_Notes_09002
020_21.pdf
7. Cooperate Governance Report
6
7_GICI_CooporateGo
vernanceReport_09002020_21.pdf
8. Auditors Report Corporate Governance
8_GICI_AuditorsRepo
rtCooporateGovernance_09002020_21.pdf
9. Management Discussions
9_GICI_Management
Dicussion_09002020_21.pdf
10. Auditors Report
10_GICI_AuditorsRep
ort_09002020_21.pdf
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
LO1 Analyse the context and purpose of financial reporting
MERIT
DISTINCTION
PASS
7
P1 Analyse the context of
financial reporting
including regulatory
frameworks and
governance of financial
reporting.
P2 Analyse the purpose
of financial reporting for
meeting organisational
objectives, development
and growth.
M1 Appraise the context
and purpose of financial
reporting in meeting
stakeholder needs and
expectations.
D1 Critically analyse the
different regulatory
frameworks and
governance of financial
reporting for specific
stakeholders.
PLEASE READ THIS PAGE CAREFULLY TO ENSURE
YOU COVER WHAT IS REQUIRED TO SATISFY THE
GRADE
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
Observation record:
Student name:
Qualification: BTEC Pearson: HND Business
Unit number &
title:
13/Financial Accounting
Description of activity undertaken
8
Assessment & grading criteria
How the activity meets the requirements of the criteria
Student
signature:
Date:
Assessor
signature:
Date:
Assessor
name:
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
ASSESSMENT RECORD SHEET – SUMMATIVE FEEDBACK
Deadline
Date submitted
Targeted
criteria
Criteria
achieved
Assessment comments
P1
P2
M1
D1
General comments
9
Learner Declaration
I certify that the evidence submitted for this presentation/oral/viva is my
own. I have clearly referenced any sources used in the work. I
understand that false declaration is a form of malpractice.
Learner signature
Date
Assessor declaration
I certify that the evidence submitted for this presentation/oral/viva is the
learner’s own. The learner has clearly referenced any sources used in the
work. I understand that false declaration is a form of malpractice.
Assessor signature
Date
Date of feedback to learner
Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21
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