Financial Accounting Assignment

FINANCIAL
ACCOUNTING
ASSIGNMENT

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By student name
Professor
University
Date: 25 April 2018.
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Contents
Background..................................................................................................................................................3
Discussion and Analysis...............................................................................................................................3
Statement of Financial Position...............................................................................................................4
Statement of changes in equity...............................................................................................................5
Notes to accounts....................................................................................................................................6
Other required reports..........................................................................................................................11
Directors Declaration.........................................................................................................................11
Annual Directors report.....................................................................................................................12
Annual auditors report......................................................................................................................13
References.................................................................................................................................................14
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Background
A financial report or the annual report has been done for the company in hand for the year ending 30 th
June 2019. All the accounting adjustments has been done and the necessary financial statements have
been prepared and presented below in compliance with the Australian Accounting Standards (issued by
AASB) and the Corporation Act, 2001. Necessary disclosures and the notes on accounts have been
prepared and shown below. In addition to that, other required reports like that of Directors’ declaration,
Annual Directors Report and the Auditors Report has also been included in the assignment.
Discussion and Analysis
Statement of profit or loss and other comprehensive income
Statement of profit or loss and other comprehensive income
Particulars Notes Amt.($)
Operating Activities
Revenue from sale of goods and services
Sales revenue 29,760,300
Services revenue 18,510,400
Total operating revenue 48,270,700
Cost of sales 17,930,000
Gross Profit 30,340,700
Other operating expenses 9 24,080,600
Operating income 6,260,100
Non-operating income 8 293,000
Earnings before interest and tax 6,553,100
Financing costs 12 76,500
Profit before income tax 6,476,600
Income tax expenses 10 1,942,980
Profit for the period from continuing operations 4,533,620
Extraordinary Gain
Extraordinary Profit (net of tax) 7 438200
Profit for the period 4,971,820
Profit attributable to equity holders 4,971,820
Profit from continuing operations 4,533,620
Extraordinary Profit 438,200
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