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Required:
(a) Describe your company’s principle business activities and operations.
(b) Provide names of at least FIVE (5) members of the management team and explain
briefly their role in the organization. Board of directors – (annual report/ website –
‘about us’)
(c) Based on the company’s financial statements, discuss the company’s current
performance. Explain whether they performed well in the current year and justify your
answer accordingly. Refer financial statements (compare with last year), focus more
on revenues and profits, refer chairman’s statement & performance summary
(d) Explain what is depreciation and the reason companies need to recognize a depreciation
expense in the financial statements.
(e) Provide example of FIVE types of asset this company has and explain the depreciation
policy for each type of asset as stated in the financial statements. Focus on non-current
assets. Depreciation policy – refer Notes to financial statements (significant accounting
policies)
(f) Explain the THREE types of liabilities that this company has and the reason for EACH
of this liability to exist. (refer their SOFP –be specific)
(g) Provide example of FIVE types of expenses incurred by the company and explain why
it is necessary for this company to incur such expenses. (SOCI be specific)
(h) Explain whether the company has any provision for doubtful debts (impairment of trade
receivables). If yes, state the amount. Discuss how the company may have estimated
the provision for doubtful debts. (refer to Notes to financial statements on Receivables)
(i) Based on the Independent Auditor’s Report, describe who are the auditors and the
opinion they have provided on the financial statements. (refer auditor’s report in the
financial statements)
(j) From the auditor’s report, briefly explain who is primary responsible for the preparation
of financial statements. (refer auditor’s report in the financial statements)
(k) Provide FIVE examples of users who may be interested in the company’s financial
statements. Be specific in your answer. Avoid providing a general answer without
explanation.
(l) Based on the annual report, identify whether customers are provided credit terms. If
yes, how long? Further, explain whether suppliers allow credit term for the company.
If yes, how long? (refer to notes of the financial statements)
(m)Explain the TWO methods of payment mode accepted by this company, and discuss 2
pros and 2 cons of each mode from the perspective of the company. Explain in detail.
(n) Is this company using the going concern assumption appropriately? Justify your answer
accordingly.
(o) Discuss FIVE activities/ actions the company is doing to increase sales. (check
promotions/ marketing campaigns/ new products/ new branch etc)
