14. Explain your answer. How are the company's assets classified? Are they based on IFRS standards or GAAP? 15. Determine whether the entity's financial position improved or deteriorated during the reporting period. Speculate on the causes from your review of the financial statements. 16. Is there is any special item reported in current and previous year of income statement? If yes explain in detail to which category, it belongs? 17. Review statement of retained earnings and determine whether there is any adjustment done for changes in accounting principles and correction of error? 18. Have a short review of income statement of current and previous year? Including both revenues and expenses? 19. Analysis cash flow of current year with previous year and verify weather cash position of the company has improved or not? 20. Considering all the information you have gathered, why might this information be important to potential creditors, investors, and employees?