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?