Task 1 Your task is to undertake research and obtain an organization annual report. You can locate one on the internet; your trainer can provide you…

Task 1

Your task is to undertake research and obtain an organization annual report. You can locate one on the internet; your trainer can provide you with one or obtain one from the ASIC website. Once you have obtained this document you are to answer the following questions?

•     How is the report disseminated and who is it given to?

•     What reason would each of these people have for needing a copy of the report?

•     What information is contained in the report?

•     What format does the report use?

•     Is there evidence of consolidation or conversion procedures being used?

•     Are there any asset or liability valuations? If so, what are they?

•     Were there any discrepancies identified?

•     Is the organizations total income and expenditure enclosed, give details?

•     Is the report clear and concise?

•     What effects of taxation are noted?

•     What charts and/or diagrams are enclosed and what are they highlighting?

•     Did the report meet statutory requirements?

•     What is the overall position of the organization?

•     Does the organization use double-entry bookkeeping or accrual accounting?