Task 1

Your task is to undertake research and obtain an organization annual report. You can locate one on the internet; your trainer can provide you with one or obtain one from the ASIC website. Once you have obtained this document you are to answer the following questions?

How is the report disseminated and who is it given to?

What reason would each of these people have for needing a copy of the report?

What information is contained in the report?

What format does the report use?

Is there evidence of consolidation or conversion procedures being used?

Are there any asset or liability valuations? If so, what are they?

Were there any discrepancies identified?

Is the organizations total income and expenditure enclosed, give details?

Is the report clear and concise?

What effects of taxation are noted?

What charts and/or diagrams are enclosed and what are they highlighting?

Did the report meet statutory requirements?

What is the overall position of the organization?

Does the organization use double-entry bookkeeping or accrual accounting?

Answers to this assessment will vary however students must answer each of the questions above and answers should reflect the skills and knowledge gained throughout this unit of competency.