Refer to the consolidated financial statements and their notes in the latest financial report of  JB Hi-Fi Limited on its website, www.jbhifi.com.au, and answer the following questions:

1.Were any items of property, plant and equipment revalued by the entity during the current financial year? During previous year? If so, give details.

2.Were any items of property, plant and equipment derecognized during the year? If so, how has the entity disclosed any gain or loss made on derecognition of such assets? Provide details of  any financial amounts involved.

3.From the latest statements of financial position (balance sheet ), provide details of the types and amounts of assets regarded by  JB HI-FI Limited as `intangable`. What accounting treatment is adopted in accounting for the acquisition of goodwill?

4.Have there been any instances where the group’s non-current assets were revalued upwards/downwards? If so, provide details.

Demonstrate an understanding of the nature and analysis of basic  accounting theory, explain the relationships of its elements and critically evaluate them

 b) Present accounting reports for different types of business structures and\industries

c) Identify, analyse and solve a range of financial accounting problems by applying analytical and creative thinking and problem solvingtechniques

 d) Make soundly based financial accounting decisions by applying criticaland logical reasoning

e) Explain the implications to various stakeholders of the ethical and regulatory dimensions of accounting

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