Questions Marks Question
1. Briefly outline your company's main business activities. This should include discussion of the market sector/s (for example, financial services, energy, consumer products and services, health care, telecommunications, information technology, utilities) in which your company operates and the main products and/or services from which your company derives its income. (2 marks) Does your company disclose operating segment information in the notes to the financial statements: If it does, list your company’s operating segments. Then explain how an operating segment is defined and some of the reasons for disclosing operating segment information in the financial statements? (3 marks). If it doesn’t, explain how an operating segment is defined and some of the reasons for disclosing operating segment information in the financial statements. (3 marks) To answer the second part of this question you should make reference to the relevant paragraphs in AASB 8 Operating Segments. 5 Question
2. What does share capital (or contributed equity) represent and how is it created? (1 mark) Briefly explain how the share capital (or contributed equity) of your company has changed over the year and the reasons for any changes. (1 mark) What is a reserve account and what are the different reasons for establishing reserve accounts? (1 mark) What is the amount of Retained Earnings (or Retained Profit) or Accumulated Losses reported by your company? (1 mark) What do Retained Earnings (or Retained Profit) and Accumulated Loss accounts represent? (1 mark)
Comments