HA3011 Advanced Financial Accounting - annual report Assignment

Assessment Task:

Once you have downloaded the latest annual report for the company allocated to you, you are required to do the following tasks:

Apply relevant knowledge that you learned from this course, examine the annual report of your subject company and other relevant information that you have obtained via your research, discuss the following:

1. Discuss the factors to be considered in determining whether an entity is a reporting entity, using your subject company as an example.
2. Define, describe and critically discuss the objectives of general-purpose financial reporting (GPFR).
3. Identify if your subject company’s report is a GPFR and if the objectives of GPFR are achieved by your company.
4. In addition to the financial statements, what else is included in the annual report? Briefly summarise three of them and indicate their page in the annual report.
5. Examine the list of assets in the balance sheet and the related notes. How are these assets valued?
6. Are there any forms of incentive contracts in place for executives (see the company’s web page)?
7. Identify two different groups of users of financial statements of your subject company.

• What decisions do they make based on corporate financial statements?
• What specific components of the company’s financial statements would they be most interested in?

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