--%>
Assignment Help - homework help

Financial report

Details of Assignment : You are required to form a team (group) of 3 to 4 m embers. Let your lecturer know the names of your team members. Select a set o f financial statements for a group of companies and obtain approval from your le cturer for the group of companies that you have selected. Please note that two teams may not work on the same group of companies so if another team has already registered their interest in the particular group of companies you w ill be requested to select a different group of companies. Read the annual report including the financial stat ements of the group and write a memorandum to the board of directors clearly explai ning some of the technical aspects of consolidation. Make sure that you draw o n the group’s specific details to explain the intricacies of consolidation to the board, and as much as possible avoid answering in general terms. Some of the aspec ts that you need to cover as a team are (but not restricted to): 1. The composition of the group; namely the subsidi aries, associates, any joint ventures and any other significant investments 2. Why did the parent entity have to prepare consol idated financial statements when the subsidiary company is a separate legal ent ity in its own right? 3. How is the group of companies funded? Share capi tal, debentures? Any options, bonus issues etc. Who owns the group? 4. Does the published set of group financial statem ents reveal the company’s policy on corporate governance? Audit committees? S ustainability? Solvency? Where and why? 5. The non controlling interest – where would you f ind it in the financial statements and what does it represent? Details of a ny direct and indirect non controlling interest? 6. Has there been any goodwill on acquisition? Or a ny gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Any impairment? 7. Does the group have any foreign currency transac tions? Any foreign subsidiary companies? How have they been accounted for in the financial statements? 8. Any other relevant matter that you may wish the board of directors to make note of in respect of some transaction or event, ba lance of account or disclosure that will assist them in understanding t he financial statements of the group.

   Related Questions in Financial Accounting

  • Q : Uniform costing benefits The uniform

    The uniform costing executed? It is beneficial for an organization?

    		•
  • Q : China emerged as the important

    Explain facts that China has emerged as the second most imperative recipient of the FDI after United States in recent years?

    		•
  • Q : Factors for surge in the international

    List some factors which are responsible for recent surge in the international portfolio investment (IPI)?

    		•
  • Q : Average Profit Method in goodwill

    Average Profit Method: (Goodwill method): The profit earned by an organization throughout previous accounting periods on an average basis is termed as average profit. Goodwill is computed on the basis of average profit due to prospect expectations of

    		•
  • Q : Cash system and mercantile system what

    what is the difference between cash system of accounting and mercantile system of accounting

    		•
  • Q : Impressions using stereotypes How we

    How we form impressions by using stereotypes. Explain? Is stereotyping always negative? Give an example.

    		•
  • Q : Restrictions of foreign equity ownership

    Describe various restrictions of foreign equity ownership.  Why countries impose these restrictions, explain your view on this?

    		•
  • Q : Problem on National income Providing

    Providing reasons, describe the treatment assigned to the following which estimates national income.(i) Family members working freely on farm owned by family.(ii) The Payment of interest on borrowings through general government.

    		•
  • Q : Social issues & person statuses Think

    Think of person you will who often irritates you or whose behaviour greats on your nerves. First list that person statuses and role then analysed his or her possible role expectations, role performance, role conflict and role strai

    		•
  • Q : Incremental cash flows of capital

    Describe what you mean by the incremental cash flows of a capital project.

    		•