Carefully read the annual report of the sonic health care ltd ASX company and then identify the accounting standards complied with while preparing financial statements. Introduce each of these accounting standards.

"Sonic Healthcare produced a record net profit for the 2019 financial year of A$550 million, on revenues of A$6.2 billion. The Board has declared total dividends per share for the year of A$0.84, a 4% increase on the prior year, continuing our progressive dividend policy."

Sonic also achieved a number of strategic milestones in the 2019 financial year, opening up new pathways for future growth. The most significant of these was the acquisition of Aurora Diagnostics for US$540 million (equivalent to A$750 million). Aurora is one of the leading anatomical pathology providers in the USA, with approximately 220 pathologists and 1,200 staff, operating 32 anatomical pathology practices across 19 US states. Aurora is the largest single acquisition ever made by Sonic, with annual revenue in excess of US$310 million. Following the Aurora acquisition, our US business is now our largest globally. Sonic also acquired Pathologie Trier in July 2018, one of the largest (annual revenue of around 20 million) and most respected anatomical pathology practices in Germany. The acquisitions of Aurora Diagnostics and Pathologie Trier are initial steps in expansion into the anatomical pathology markets in the USA and Germany. The addition of the pathologists in these practices to Sonics existing team has created what I believe to be the largest pathologist group globally. Sonics success to date has been driven by our Medical Leadership culture which, among other important tenets, recognises that pathologists are the natural leaders within laboratories. We look forward to working with Auroras and Triers management and pathologists to grow and enrich both the anatomical pathology and clinical laboratory operations of our expanded US and German businesses. This strategy is well-founded on our deep and longstanding experience in anatomical pathology in Australia. Other milestones in the year included the formation of a hospital laboratory joint venture with ProMedica Health System, Inc. in the mid-west of the USA, winning the cervical screening contract to provide HPV testing for the population of London, and positioning ourselves well in the bidding processes for other major National Health Service laboratory contracts in the UK. We also divested GLP Systems, a technology platform, at an attractive valuation, returning approximately $A130 million of cash to Sonic. Sonic has not been a seller of businesses, however, after a decade of adding value to GLP Systems, the point was reached where its future lay more logically with Abbott as a major IVD equipment provider. To summarise, the Company is in a healthy, strong and stable position, with growth momentum and significant opportunities ahead. We operate in eight countries, and employ 37,000 people. Our people are very actively delivering highest quality, essential healthcare services to 120 million patients each year. Our global team of more than 1,000 pathologists, along with our 200 radiologists, 2,000-plus partner general practitioners and thousands of qualified scientists and technical staff, underpin and enrich our global healthcare offering. Sonics Medical Leadership culture differentiates Sonic in our markets, attracting referrals to our practices, making us an employer of choice, and attracting like-minded organisations for acquisition, joint ventures and laboratory outsource contracting. The talent and passion of our people are the driving force behind the continuous improvements in our businesses and to the overall success of Sonic Healthcare and I thank all Sonic staff for their dedication and the positive energy they bring to the Company.