ACCT 2289 Introductory Accounting – Semester 1 Assignment

This assignment is to be completed in two sections.

The first section is for you to locate the Annual Reports for a company and become familiar with the contents of an Annual Report, particularly the financial statements and the notes to the financial statements. Pay particular attention to the information provided in the notes to the financial statements as you will find a lot of useful information in them that may help with some of the questions.

Once you have determined suitable solutions to the questions that follow, you will be required to submit the answers online through Blackboard. Some answers are multiple choices, some are fill in the blanks, and some are calculations.

Required

You are required to obtain the 2010 Annual Report for Oroton Group Ltd and then answer the following questions.

  1. Describe the company’s principal operating activities.
  2. An auditing firm will have received remuneration for their services. What services did the auditing firm provide for this company in 2010?
  3. Using the 2010 Annual Report, Identify the number of the note that deals with Significant Accounting Policies and
  4. Identify the method of depreciation the company uses to depreciate their tangible non-current assets.
  5. The amounts shown in the financial reports are rounded. Identify how the amounts in the 2010 financial report for this company are rounded
  6. Briefly explain why you believe the amounts shown in the financial reports are rounded in this way.
  7. The annual report contains a number of reports with only some of these being ‘financial reports’. Name all of the financial reports in the 2010 annual report shown for this company in their annual report. Be sure to enter the information exactly and in the same order, as it appears in the report

 

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