ACCT2006/ACC230: Financial Reporting : Presentation of Financial Statement - Accounting and Finance Assignment Help

Assignment Task:

Section 1:

Presentation of financial statements (10 marks) Instructions In your pairs (on-campus students), you will have already chosen an ASX listed company. Your assignment will require the comparison and analysis of their last two published annual reports. You will therefore need to obtain copies of their two most recently published annual reports. Depending on when your chosen company publishes their reports, these may be the reports for 2016-17 and 2017-18; or 2017-18 and 2018-19. Your analysis will be presented in report format. You will need to use Excel, Word and finally PDF to prepare your report.

1. Requirement one – preparation in excel (Total of 5 marks, based on completeness, accuracy and correct format of your presentation) Once you have obtained the two annual reports, transfer their income statement, balance sheet, statement of changes in equity and statement of cash flows into an excel spreadsheet.

1a) Prepare an excel spreadsheet with these financial statements. Ensure that the statements are formatted in a professional and attractive manner.

1b) Use formulas in excel to verify that the totals shown in the financial statements have been correctly calculated.

2. Requirement two – analysis in word (Total of 5 marks) Once you have transferred the financial statements and notes into excel, you will then prepare a report (using Microsoft Word, or a similar word processing program) which analyses some aspects of these reports. Your report must be formatted in a professional and attractive manner1 . Further, your report must follow the conventions of report formatting2

2a) Provide the reader with an introduction to the company you are analysing. This introduction should provide the reader with a basic understanding of what they do, which industry they operate in, the company information and when their financial statements are prepared. As a minimum, we are looking for you to tell the reader the company the industry is in, when it was formed, what their structure is, what its market capitalisation is and who their auditors are. (Total of 1.5 marks)

2b) Identify both the time period for which the reports refer and when the reports were published. (Total of 0.5 marks)

2c) Identify the figures provided in the older of the two reports (e.g. if you downloaded FY2018 and FY2019’s annual reports, the older of the two reports would be FY2018). These figures will also be stated in the newer report, so that you can compare the results between the most recent and the second most recent year3 . Compare the figures as stated in both reports4 . Are they the same? If not, you must identify the differences. If there are differences, provide reasons for why they have been changed. In excel, you should make comparison of the two columns by using one column to minus the other to demonstrate the ‘differences’. A separate extraction of the specific year’s results is recommended in answering this question. (Total of 2 marks)

2d) Provide a reconciliation note for your company’s most recent retained earnings account balance (if a business does not have positive profit, they may report ‘retained losses’ instead). This information can be found and extracted from the statement of changes in equity. The purpose of this note is to explain what the balance of the retained earnings account was at the start of the period, what caused it to move up or down and thus demonstrate how it got to the ending balance.

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