Leases and Audit Report
• What are the values of the leased assets and liabilities? What information is disclosed in the notes to the accounts in relation to leased assets and liabilities?
• What is the name of the company’s independent auditors? What type of opinion did the independent auditors issue on the financial statements of this company (unqualified, qualified, adverse, or disclaimer)? What does this opinion mean?
3. Due date of submission of assignment
Due date of submission of assignment for all students is Monday 6th of September 2010 .No extension will be granted to any group of students.
Assessment item 1- Group case study Assignment –Marks Allocation Sheet
Assignment Topics Marks Allocated
Executive Summary
2
Description and explanation of company’s core business and details of its different activities and or business segments.
3
Discuss the industry that the chosen company operates in. For example, is it a growing or declining industry, which are the main competitors and what are they doing, etc. Ensure you discuss the implications of these factors.
3
How the company is funded vis-à-vis internal or external sources? Discuss the composition of its share capital and debt structure.
4
Discussion on key elements of Financial Performance reported by the company in the Director’s report
4
What are the major changes in operating activities identified in the director’s report
2
Has this company reported any event that occurred after the reporting date? Describe the event.
2
Were there any changes in accounting policies disclosed in the annual report? If yes, describe those changes.
2
Key elements within ‘Property, plant and Equipments’
2
How does the disclosure of Fixed Assets/Property Plant and Equipments compare with the requirements of the relevant accounting standards? Discuss company’s accounting policies in relation to ‘Property, plant and Equipments’
3
Identify the intangible assets reported by the company. Discuss their composition and relevance to the company’s business.
3
Are any intangible assets subject to impairment? If so, list them.
2
How does the disclosure of intangible compare with the requirements of the relevant accounting standards? Discuss the Accounting policies relating to Intangible Assets.
3
What are the values of the leased assets and liabilities? What information is disclosed in the notes to the accounts in relation to leased assets and liabilities? 2
What is the name of the company’s independent auditors? What type of opinion did the independent auditors issue on the financial statements of this company (unqualified, qualified, adverse, or disclaimer)? What does this opinion mean?
3
Summary and conclusions
2
Depth of understanding and analysis of subject areas being examined. The extent to which accounting standards are used to explain different aspects of financial reporting.
3
Written communication-Structure, language,
