Accounting

Paper , Order, or Assignment Requirements

Required

Refer to the Australian Agricultural Company’s 2017 Financial Report available at:

Annual Reports

Cover Page

Please add a cover page that includes your name, student number, and the total number of words.

Part A

• Maximum of 500 words

• 9 marks

 

Looking at the Consolidated Income Statement as at 31 March 2017 (page 46), discuss the following items:

 

(i) Cattle fair value adjustments $300,026,000

• you will find additional information in Note A3, pages 54 – 56, to assist you in answering this question

 

(ii) Change in fair value of property $2,285,000

• you will find additional information in answering this question in Note A4 on pages 57 – 59

 

(iii) Net profit after tax, $71,586,000 and compare this item to total comprehensive income of $102,065,000 in the Consolidated Statement of Comprehensive Income for the year ended 31 March 2017 (page 47).

 

Part B

• Maximum of 500 words

• 9 marks

 

Looking at the Consolidated Statement of Financial Position as at 31 March 2017 (page 48), discuss the following items:

(i) Livestock $269,850,000 (under Current Assets) and Livestock $392,632,000 – under Non-Current Assets

• you will find additional information in Note A3, pages 54 – 56, to assist you in answering this question

 

(ii) Property, plant and equipment $792,373 (under non-Current Assets)

• you will find additional information in answering this question in Note A4 on pages 57 – 59).

 

(iii) Borrowings $362,918,000 (under Non-Current Liabilities)

• you will find additional information in Note C1, page 62, to assist you in answering this question

 

Part C

• Maximum of 500 words

• 12 marks

 

Looking at Note E1 and E2 on page 69, discuss the following items:

 

(i) Future minimum lease payments under non-cancellable operating leases for land and buildings of $7,718,000

(ii) The possible impact on Australian Agricultural Company of the introduction of Australian Accounting Standard AASB 16, Leases which will be effective for periods beginning on or after 1 January 2019

(iii) Other commitments

(iv) Contingencies

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