Evaluate accounting method, Corporate Finance

Question 1: Collect a current annual report (2009) of an Australia listed company.

Select the firm that reported the following assets. Select BOTHtypes of assets.

  • Property, plant and equipment and
  • Intangible assets (select only one intangible asset e.g. goodwill or development expenditure or Licenses or brand names or patent etc).

Required:

1.1) Provide the name of the company. Briefly summarise the business nature and its financial profile.

1.2) Briefly summarise accounting treatments that are required by the AASB 116 (Property, plant and equipment) and 138 (intangible assets) and other relevant accounting standards.

1.3) Briefly summarise how the selected items are disclosed in terms of accounting methods, disclosures in note to financial statement and etc.

1.4) Critically evaluate whether the accounting method or disclosure is consistent with the requirements of the AASB 116 and 138 and other relevant accounting standards, that is whether the company is providing relevant and reliable financial information for the users of general-purpose financial reports (GPFRs).

Additional information:

  • All sales were on credit
  • Loans payable of $150 000 were paid back during the year
  • Equipment which cost $30 000 was sold during the year, accumulated depreciation of the equipment was $7 000. The sale of equipment created a loss on sale of $4 000
  • The land was revalued upwards by $50 000
  • The capital shares were issued during the year
  • Dividends were paid at the end of the year

Required:

Prepare the statement of cash flows for Altman Manufacturing Ltd for the year ending 30 June 2009, in accordance with AASB 107. Cash flow from three activities with a reconciliation of net cash provided by operating activities and net profit are required with necessary calculation or worksheet.

Posted Date: 2/23/2013 4:30:59 AM | Location : United States







Related Discussions:- Evaluate accounting method, Assignment Help, Ask Question on Evaluate accounting method, Get Answer, Expert's Help, Evaluate accounting method Discussions

Write discussion on Evaluate accounting method
Your posts are moderated
Related Questions

Assignment Part 1   Shareholder Value Provide (a) one page write-up of the company; (b) Present its significant performance indicators such as P/BV; an

XYZ Corporation has the following capital structure: 10 million shares of common stock selling at $12 each, with current dividend of $1.00 annually; $70 million (face value) of 8%

Nipissing, Inc,, is considering a new three year expansion project that requires an initial fixed asset investment of $2.4 million. The fixed asset falls in CCA Class 8 with a a 20

Question : (a) Compare the financial system of the Mauritius and USA. Give differences between the two systems. (b) One of the facilities given by the financial system is

What is in store for banking consolidation? A: Merger activity is a natural process by which companies make themselves more efficient and better able to compete for customers.

what is the major value of the weighted cost of capital calculation for the firm?

YOU ARE A CEO OF A SOFTWARE COMPANY WHICH HAS LIMITED ACCESS TO DEBT EQUITY MARKETS. YOUR FIRMS AVERAGE RETURN ON LAST YEAR PROJECTS IS 28% AND COST OF CAPITAL IS 12 %.Would Npv or

problem 1 (a) (i) Define Corporate Governance. (ii) Show the ethical implications behind Corporate Governance. (b) (i) Why do organizations engage in social accounting?