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Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21

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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

Unit Number and Title K/508/526 – Unit 13 Financial Reporting

Academic Year Fall 2020-21

Unit Assessor Dr.Roslin/Ms.Komal

LIVT Mr Vaheed

Assignment Title Analyse the context and purpose of financial reporting (Presentation)

Submission Date 19th December 2020

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

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Unit Learning Outcome:

Oman Construction Industry:

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

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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.

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

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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:

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

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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

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

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5_GICI_StockHolderE

quity_09002020_21.pdf

6. Notes to accounts

6_GICI_Notes_09002

020_21.pdf

7. Cooperate Governance Report

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

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PLEASE READ THIS PAGE CAREFULLY TO ENSURE

YOU COVER WHAT IS REQUIRED TO SATISFY THE

GRADE

LO1 Analyse the context and purpose of financial reporting

PASS MERIT DISTINCTION

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.

Source: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 21

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Observation record:

Student name:

Qualification: BTEC Pearson: HND Business

Unit number &

title: 13/Financial Accounting

Description of activity undertaken

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

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ASSESSMENT RECORD SHEET – SUMMATIVE FEEDBACK

Deadline Date submitted

Targeted

criteria

Criteria

achieved Assessment comments

P1

P2

M1

D1

General comments

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