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Students who study accounting are expected to be aware of current events that impact upon the profession and be able to interpret financial and other information that companies prepare and present to the public. This assignment will help you develop your ability to research and present information in both of these areas.
To successfully complete this assignment, you will need to:
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� Read newspapers and other sources of current events
� Locate company annual reports and other information from their website
� Access the ASX website for up to date company information
� Use the referencing provided in financial statements to find information in the notes
� Prepare a summary of information with appropriate cross referencing between sources
� Paraphrase and appropriately reference source material
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The task: due in week 10 in tutorials (week beginning 10th December). Worth 30%
Access the latest available annual report (no earlier than June 30 2012) for the company allocated in your tutorial. Answer the following questions about the company.
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Use the group/ consolidated data for your company.
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1. Print the company information (for your company) from asx.com.au. Give the following information in your report:
a) Name of the company
b) ASX code �
c) Office address
d) Company website address �
e) The GICs industry group your company belongs to
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2. Using electronic sources, find one news article reporting the company�s annual profit announcement. When is it dated? Summarise the information given in the article. (two popular Australian news sites are: www.smh.com.au or www.afr.com)
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3. Print the income statement. Answer these questions:
a) How much profit did the company earn in the current year? Did the profit increase or decrease compared to last year?
b) Calculate the Net Profit Margin ratio for the current year, and the previous year. Show the numbers used in your calculation.
c) What do your results in part (a) and (b) suggest about the company?
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4. Print the statement of financial position (balance sheet). Answer these questions:
a) What is the largest asset on the statement of financial position in the current year?
b) How much is the balance of retained earnings in the current year?
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5. Print the statement of cash flows. Answer these questions:
a) What method is used to prepare the operating activities section on the statement of cash flows?
b) Find and print the note showing the operating activities section prepared using the indirect method (reconciliation of net cash from operating activities to profit). Compare this amount to the operating activities section on the statement of cash flows. Is there any difference?
c) Evaluate the statement of cash flows, mentioning each section.
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6. Find one note to the financial statement for each of the following. Print the note and describe its contents in brief:
a) an accounting method/policy applied in the company�s statements
b) additional detail about a number given in the financial statements
c) amount paid to auditors for audit services
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7. Sustainability Reporting:
a) Describe the difference between social, enviornmental and financial performance. Explain the possible links between social, environmental and financial performance. Give an example from your company�s sustainability report.
b) Different stakeholders will have different expectations of how your company conducts its business. Choose one stakeholder (creditors, employees, local community, customers, environmentalists etc) and discuss their expectations of the company.
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Important requirements :
? In each answer, show the question number, brief answer and a reference.
? Print the source page you use to answer the question and include this in your appendix. Use a highlighter to indicate where the information comes from. In your appendix print outs, indicate which question is being answered.
? You must submit a soft copy of your typed answers (not downloaded material) to turnitin on utsonline before your tutorial.
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? What you hand your tutor must include:
1. A cover page with your name and student number and signature
2. Answers to the questions, with in-text references to the financial statements and notes.
3. An appendix containing print outs showing the source for each answer. Please organise your appendix in question order.
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