Consolidated Statement of Financial Position For the year ended 30 September 2019 2019 2019 2018 2018 ASSETS Note ZMW000s USD000s ZMW000s USD000s Non-current assets Goodwill 13 166,801 12,636 166,801 13,628 Property, plant and equipment 14 2,841,824 215,290 2,902,221 237,110 Investment in associate 15(e) 12,376 938 15,412 1,259 Deferred tax asset 10(e) 56,525 4,282 47,854 3,910 3,077,526 233,146 3,132,288 255,907 Current assets Biological assets 16 170,417 12,910 181,674 14,843 Inventories 17 941,159 71,300 639,811 52,272 Trade and other receivables 18 98,025 7,426 156,314 12,771 Assets held for disposal 34 135,357 10,254 - - Amounts due from related companies 19 41,554 3,148 50,272 4,107 Income tax recoverable 10(c) 2,767 210 3,885 317 1,389,279 105,248 1,031,956 84,310 Total assets 4,466,805 338,394 4,164,244 340,217 EQUITY AND LIABILITIES Capital and reserves Share capital 21 3,006 449 3,006 449 Preference share capital 21 1,000 100 1,000 100 Share premium 22 1,125,012 185,095 1,125,012 185,095 Other reserves 2,116,691 60,243 1,986,756 68,916 3,245,709 245,887 3,115,774 254,560 Non-controlling interest (4,881) (370) (8,660) (708) 3,240,828 245,517 3,107,114 253,852 Consolidated Statement of Financial Position (continued) For the year ended 30 September 2019 2019 2019 2018 2018 Note ZMW000s USD000s ZMW000s USD000s Non-current liabilities Interest bearing liabilities 23 228,099 17,280 308,312 25,189 Obligations under finance leases 24 19,297 1,462 20,163 1,647 Deferred liability 25 16,362 1,240 22,611 1,847 Deferred tax liability 10(e) 9,138 692 6,909 565 272,896 20,674 357,995 29,248 Current liabilities Interest bearing liabilities 23 130,661 9,899 95,247 7,782 Collateral management agreement 23 212,381 16,089 107,213 8,759 Obligations under finance leases 24 21,487 1,628 18,248 1,491 Trade and other payables 26 259,585 19,665 297,390 24,294 Provisions 27 52,914 4,009 42,137 3,44 Amounts due to related companies 28 251 19 232 19 Taxation payable 10(c) 1,377 104 2,925 239 Bank overdrafts 20 274,425 20,790 135,743 11,090 953,081 72,203 699,135 57,117 Total equity and liabilities 4,466,805 338,394 4,164,244 340,217 The following information is also available a)Zamleather limited was acquired by Zambeef group of companies 2 years ago. One of its equipment has been reported in the above consolidated statement of financial position at cost of K50, 000,000, although its fair value at the date of acquisition was K60, 000,000. This equipment is depreciated using straight-line method and has a life span of 10 year with no residue value. Required i)Citing relevant financial reporting standards comment on the appropriateness of measurement of the assets of Zam leather by the group. ii) Using appropriate journal entries suggest any amendments that should be made to the consolidated statement of financial for both 2018 and 2019 above. iii) State the ledger accounts that will be affected by the above treatment stating whether the affected ledger accounts have been overstated or understated.