Seminar – 20 Questions to get you started using company accounts
金融管理homework代写 At the foot of the statement you will see some dates and names. This information tells you when the accounts were ‘signed off’
| Have a look at the financial statements here http://annualreport.marksandspencer.com/M&S_AnnualReport_2019.pdf obtain its latest published financial statements. You can choose a public company, your own employer or an organization that you deal with or are interested in studying. If the report covers a group of companies answer for the group; the accounts may be entitled Consolidated (or Group) Balance Sheet and Consolidated (or Group) Income Statement. |
If you have chosen a large organization you may find the Contents section helpful in navigating through this large document.
The following questions are suggestions to get you started in your enquiries. You will have others. Make notes as you work through.
Required In small groups of 3, attempt the following: 金融管理homework代写
- Lookatthe published Income Statement.
- 1. Whatperiodis covered by the Statement?
- Didtheorganization make a profit /surplus or a loss/deficit? Profit may be termed ‘net income’ . How does this compare with the previous year?
- Whatconclusion, ifany, can you draw from this?
- 4. Howmanydifferent lines of text contain the descriptive term ‘profit’ or ‘income’?
- 5. Isithelpful to see the different points at which ‘profit’ is reported? Could there be more, or fewer?
- 6. Isthereany particular type of expense that has changed considerably since the previous year?
- 7. Istheorganization reporting any new activities or lines of business? You may need to read the Directors’ Report (Trustees’ Report for a charity) to determine this.
- 8. Istheorganization reporting any discontinued activities or lines of business?
Lookat the Balance Sheet. 金融管理homework代写
At the foot of the statement you will see some dates and names. This information tells you when the accounts were ‘signed off’. At this date, directors and the independent auditor had to be satisfied that the statements represented a ‘true & fair view’ if reporting under UK GAAP of the position and performance of the organization.
- Onwhatdate was the balance sheet signed?
- Has the Equity increasedordecreased?
- Hasanyclass of share capital increased or decreased?
Now look at the Report of the Independent Auditor
- Who is the Independent Auditor?
- Towhomdoes the auditor report? Check the date the auditor signed his report. How does this date compare with that at the foot of the Balance Sheet? [count the months between the dates]
- 1 Howdoesthe date the auditor signed his report compare with the date at the head of the Balance Sheet? [count the months between the dates]
Notice that in the UK the auditor gives an opinion, not a guarantee of certainty or accuracy. It is the responsibility of the directors of the organization to prepare the published financial statements.
Notice that if your company reports under IFRS, the auditor’s opinion will be ‘present fairly’ 金融管理homework代写
Look at the Cash Flow Statement
- 1 Lookatthe end of the statement. Did the company experience a net inflow or a net outflow of cash from operating activities?
- 16.Hasthere been an increase or a decrease in the total cash resources held within the company over the reporting period?
The Notes to the Financial Statements provide detail to back up the summary figures in the Income Statement, Statement of Cash Flows and Balance Sheet
Look at the Report of the Directors
- What does the company describe as its principal activities?
- Whatamountswere paid to charity and in political donations during the year?
Personal Reflective learning 金融管理homework代写
- What did you learnfromthis exercise?
- What further Qs do your findings prompt youtoask?
Write your thoughts here…… ..
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