REQUIRED

Getswift Ltd will acquire Pursuit Pty Ltd as part of a growth strategy. This will require a new consolidated set of accounts to be prepared incorporating this acquisition and consolidation as at 30/6/17. At a minimum, your consolidation incorporating Pursuit Ltd should include

a) Consolidation journals

b) Consolidated worksheet

c) Statement of Financial Position

d) Statement of Profit and Loss and Other Comprehensive Income

e) Consolidated Statement of Changes in Equity

Students are required to complete these using Excel which is to be presented to a professional level. The final result is expected to be a well formatted and professional looking template and set of final financial statements that are ready to be published to the market.

Suggested Steps in completing Part A

It is suggested that you done this using the following steps;

1) Obtain the 2016/2017 Annual report for your allocated company

2) Extract the 2016/2017 trial balance from the annual report and input this into Excel into your

consolidation worksheet. (Hint: you will also need to look at the notes to the accounts and you will

need to ensure that this balances before proceeding any further. Also, ensure you expand out any

rounding in the financial statements)

3) Prepare the adjusting entry to record the initial acquisition of Pursuit Ltd by your company and revise your company's trial balance.

4) Complete the consolidation journal entries and incorporate these into the consolidation worksheet.

5) Based on the consolidation worksheet, prepare the new revised consolidated Statement of Financial Position, Profit and Loss and Other Comprehensive Income and Statement of Changes in Equity.(Note disclosures are not required)

- F Getswift Ltd will acquire PurSuit Pty Ltd as part of a growth strategy. This will require a new consolidated set of accounts to be prepared incorporating this acquisition and consolidation as at 30/6/17. At a minimum, your consolidation incorporating Pursuit Ltd should include a) Consolidatlon journals b) Consolidated worksheet c) Statement of Financial Position 6) Statement of Profit and Loss and Other Comprehensive Income e} Consolidated Statement of Changes in Equity Students are required to complete these using Excel which is to be presented to a professional level. The final result is expected to be a well formatted and professional looking template and set of nal nancial statements that are ready to be published to the market. u in m I in Pa A It is suggested that you complete this using the following steps; 1] Obtain the 2016;2017 Annual report for your allocated company 2] Extract the 201612017 trial balance from the annual report and input this into Excel into your consolidation worksheet. (Hint: you will also need to look at the notes to the accounts and you will need to ensure that this balances before proceeding any further. Also, ensure you expand out any rounding in thenoncial statements) 3] Prepare the adjusting entry to record the initiai acquisition of Pursuit Ltd by your company and revise your company/strial balance. 4] Complete the consolidation journal entries and incorporate these into the consolidation worksheet. 5] Based on the consolidation worksheet, prepare the new revised consolidated Statement of Financial Position, Profit and Loss and Other Comprehensive income and Statement of Changes in Equity. (Note disclosures are not required) You may want to use the following consoiidation worksheet as a basis for your consolidation workings Initial parent Adjusting entry Amended PurSuit Pty Combined pre Consolidation Final Trial trial balance for parent parent trial Ltd trial consolidation entries Balance balance balance triai balance \"WEE-mu.\