Annual Report: Financial Statements
Q1.
Identify in the Financial Statements, which start at page 129, (on download they appear 2 pages to a sheet so they start at 66 and go to 69), the notes to the financial statements which end on page 182 (93), including the statements of significant accounting policies those parts that relate to property, plant and equipment. I suggest that there is no need to print these pages. You can click on the tab Financial Statements on the lower right side of the page. Useful information can be found in recognition and measurement.
Read these notes and then illustrate, on a line by line basis with reference to the material, how this information complies with the disclosure requirements of AASB116. Your illustrations in the notes and statements should refer to the specific paragraphs and sub-paragraphs of the disclosure requirements. You do not have to copy all the content, just give an accurate paragraph reference and a summary of the content. AASB 116 can be found at https://www.aasb.gov.au/admin/file/content105/c9/AASB116_08-15_COMPdec16_01-19.pdf
Q2.
In addition to goodwill, what are the categories of intangible assets of this organization? How are they recognized and measured? How were their useful lives estimated? What are the policies on impairment of intangible assets?
Q3.
Where do provisions appear in the statement of financial position? What are the accounting policies with respect to employee benefits? Giving the page and paragraph reference what value has been placed on employee benefits?
Q4.
What are contingent liabilities and how can they arise? Making reference to the accounting standards, how are contingent liabilities recognized and what are the disclosure policies? List the contingent liabilities of this organization and comment on the disclosure of these contingent liabilities.
Q5.
Using the financial statements calculate, and comment on, the following ratios: Current ratio, rate of return on total assets, times interest earned, the debt ratio and the P/E ratio. You may have to research using the Historical Data in Yahoo Financial or other sources to find the closing market price of the ordinary shares on 30th June 2022 and 2021.