Finally I have finished my first draft.
I found this task quite difficult and I have to use Google most of the time to look for the meaning of most of the concepts that I already looked for when I was doing my Financial Statement and for some reason they don’t stick in my head.
I started with the balance sheet as I though will be the easiest one. Doing this statement I experience problems with two things.
1- How to classify “assets classified as held for sale”. At the beginning I thought they were operational assets but after a research I concluded they are financial assets. Why? In simple words, I cannot use these assets in operation anymore.
2- Cash distribution. As my company has a considerable amount of cash I had to do the distribution. I decided to allocate 1% to operating assets and the rest to financial assets. At the beginning I was quite confusing and I used the revenue. Finally I realised I should use the I should use the rendering of services.
The most difficult task here was to wrap my head about the tax concept. My company paid in total 18.5 millions in taxes. However, I needed to figure out how much of that amount paid was related to each activity (financial or operating). Doing the exercise helps me understand the concept read on Chapter 4 more revenue, more taxes.
Movements in Equity
In this case Amy’s example was not very useful as my statement is totally different. Here my principal weaknesses was my poor and limited accounting vocabulary. I had to check each concept such as hedging reserve or capital redemption reserve over and over to understand what kind of activity was.
Please find attached my spreadsheet and the feedback sheet.
S0218661_Spreadsheet_Restated – Final (First Attempt-unsuccessful)
S0218661_Spreadsheet_Restated – Final2 (Fourth Attempt-unsuccesful)
Restating my financial statement Part 5 – Revenge.
After my fifth attempt I finally got the numbers balanced.
Please find my spreadsheet below:
Restatment – for final review – V00– Please use this version for revision (Feedback)
Issues and Concerns
Thanks in advance
1. Feedback for Katrina Brown
Feedback Feedback Katrina Brown
2. Feedback for Heidi McCormick
Spreadsheet Heidi McCormick
Feedback Heidi McCormick
3. Feedback for Kristy Taylor Smith
Spreadsheet Kristy Taylor Smith
Feedback Kristy Taylor-Smith