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FIAC214 Financial Accounting

tag 1 Download 8 Pages / 1,847 Words tag 07-07-2021


Students are required to work in a group of 3 students in the performance of this assignment.Students must register for their group with the lecturer during the first three weeks of the trimester and are not allowed to change group members afterward.
a. Find the latest published financial statements of a listed company in Australia Please do not select insurance and shipping companies. You will usually find the financial statements as part of the ‘Annual Report/Investor Relations’ section of a company’s website. The objective of this task is that you get the feel of a real life example of financial accounting.
b. Read the financial statements from the annual report and complete the following tasks:
1. Provide a brief of the company (Name, year of establishment, history, background, the product/service they deal in) and also what year is under review Try selecting the latest year.
2. Looking at the contents page and flicking through the report, which sections dominatethe report
3. Who are the directors List three or four main directors along with a brief summary of director’s report.
4. Who are the auditors What is the auditor’s opinion Provide a brief summary of auditor’s report
5. Have sales increased or decreased (compare the year you have selected with that of the previous/preceding one) Comment on the reasons for the change in the sales. 
6. What is the net cash inflow (outflow) from operating activities (See the company’s cash flow statement). How has the company’s net cash inflow changed from the previous year in terms of money and in terms of percentage
7. What was the retained profit for the year Has the company any borrowings, i.e. loans,debentures, etc.
8. Based on the income statement, Balance sheet & cash flow statement, calculate the following ratios and comment on the financial health of the company:
 1) Profitability ratios
 2) Liquidity ratios
 3) Asset turnover ratio
 4) Leverage ratios 
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