MMM7120

SEMESTER I 2014/15 TUTORIAL 1 week commencing Monday 6th October 2014

Please ensure you bring your copy of the Annual Report to the tutorial
For this tutorial you will need to use the Annual Report and Form 20-F 2013 for BP. In addition to the
hard copy you can also access the accounts on-line at the web page below.
http://www.bp.com/content/dam/bp/pdf/investors/BP_Annual_Report_and_Form_20F_2013.pdf
Please review as you will be expected to talk about the report not just answer the specific questions
below ie What did you think of it? Was it interesting? What else did you learn about BP plc? However
I do NOT expect you to read cover to cover so please do not panic.
If you cannot answer a specific question do not give up, just move on to the next one.
i.

What type of information does the company provide in the annual report?

ii.

Read pages 2 - 55, any comments thoughts. In particular look at BPs Key Performance
Indicators (KPIs) - What areas do the KPIs cover?

iii.

Identify and list the five principal financial statements for 2013.

iv.

Look at the Group balance sheet of 2013, what are the 5 main section headings, what do you
think they mean? Which 2 numbers are the same and what were they for year ending 31
December 2013 and 2012?

v.

From the numbers that you found in part iv above, look at the area in bold of the Group
statement of changes in equity. What do you notice? Explain why the figures changed.

vi.

There are 2 sets of financial statements presented:- Consolidated financial statements of the BP Group (page 115 onwards)
- Parent company financial statements of BP plc (page 224 onwards).
Can you think why this would be the case? (Hint look at and compare the called up share capital
figure in the Parent Company Balance sheet of $5,129 and see if you can find the share capital
figure for the BP Group refer to Note 32)

vii.

What period of time do the 2013 accounts cover?

viii.

Find the Auditors Report for 2013

a. Who are the groups auditors?
b. To whom is the report addressed to?
c. Which parts of the annual report have been audited?
d. What is their opinion?
e. How much were they paid this year and last year? Were the auditors used for anything
else? (You will need to look in the notes relating to the financial statements for this
information)

ix.

What does IFRS and IAS stand for?

TURN OVER MORE QUESTIONS OVERLEAF

x.

Write down the following financial figures for BP for 2013 and 2012
a. Sales and other operating revenues
b. Profit figure
c. Increase/(decrease) in cash and cash equivalents Include cash equivalent figure at the
beginning and end of the year (look at the cash flow statement for)
d. Earning per share for the year basic and diluted, what is the difference between the two
types?

xi.

Who was the highest paid Executive Director in during 2013 and what was it made up of?

xii.

Who was the highest paid Non-Executive Director during 2013?