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7702AFE: Australian Agricultural Company - ASX Market - Accounting Assignment Help
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Task : 1 Answer the following questions by referring to the Australian Agricultural Company’s 2017 Financial Report (dated 10th May, 2017) available at: Looking at the Consolidated Income Statement as at 31 March 2017 (page 46), DESCRIBE the following items: 1.Cattle fair value adjustments $300,026,000 2.Change in fair value of property $2,285,000 3. Explain the relationship between Net profit after tax of $71,586,000 and Net cash inflow from operating activities of $29,260,000. (Consolidated Statement of Cash Flows, page 50). Explain the reason for the differences in these reported figures. Task : 2 Looking at the Consolidated Statement of Financial Position as at 31 March 2017 (page 48), DESCRIBE the following items: 1.Livestock $269,850,000 (under Current Assets) and Livestock $392,632,000 (under Non-Current Assets) 2. Property, plant and equipment $792,373 (under non-Current Assets) 3. Borrowings $362,918,000 (under Non-Current Liabilities) Task : 3 Looking at the Notes to the Financial Statements, in particular Notes E1 and E2 on page 69, DESCRIBE the following items: 1. Future minimum lease payments under non-cancellable operating leases for land and buildings of $7,718,000. 2. The possible impact on Australian Agricultural Company (AAC) of the introduction of Australian Accounting Standard AASB 16, Leases which will be effective for periods beginning on or after 1 January 2019. 3. Other commitments and Contingencies.This 7702AFE: Accounting assignment has been solved by our Accounting experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.