FIAC214 Financial Accounting- non-current liabilities


Unit Learning Outcomes

1. Demonstrate an understanding of the accounting environment.

2. Show an ability to apply accounting vocabulary, principles and concepts.

3. Distinguish between current and non-current liabilities, provisions  and contingencies.

4. Analyse, record, and report Current and non-current assets.

5. Analyse and interpret financial statements.

Read the financial statements from the annual report and write a report addressing following tasks:

1. Provide a brief of the company (company name, year of establishment, history,background, the product/service they deal in, mission, vision & value statement &strategic priorities)?

2. Select the latest year for review from annual report. Referring to the director’s report section in the annual report, provide a brief summary of director’s report. The summary should include discussion on the following:
a) Whether the company’s finances are in good health;
b) Whether the company has the capacity to expand and grow;
c) How well the company is complying with financial regulations, accounting standards and social responsibility requirements.
d) Comment on the remuneration report.

3. After referring the independent auditor’s report section, provide a summary on the following tasks:
a) comment on the basis of accounting
b) Comment on any material misstatement and non-compliance with financial reporting framework
c) comment on any changes accounting policies considering the impact of COVID19
d) comment in relation to various provisions & contingent liabilities.
e) Comment on the entities capacity to continue as a going concern entity.

4. Compute the ROE for the financial year-end (select the latest year for review). Identify the most significant accounting recognition and measurement accounting choices that could result to a bias in ROE. 

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