Financial Statements Based on PAS 1

Learning Activity:

1. Research on the latest financial statements issued by various industries (choose one):
1.1 Banking and other financial institutions
1.2 Manufacturing
1.3 Property
1.4 Mining and oil
1.5 Food and beverage
1.6 Transportation
1.7 Retail

2. Based on the financial statements you have researched, thoroughly discuss your observations on
the financial statements. Your discussions can focus on the following:
2.1 What financial statements are reported by the company?
2.2 On the Statement of Financial Position:
2.2.1 The preparation and classification used in the presentation of the SFP; and
2.2.2 The accounts included in the SFP.
2.3 On the Income Statement:
2.3.1 The form of the income statement used by the company; and
2.3.2 The accounts and the arrangement as presented in the income statement.
2.4 On comprehensive income:
2.4.1 Discuss how the comprehensive income was presented;
2.4.2 What items formed part of the comprehensive income?
2.5 On the Statement of Changes in Equity:
2.5.1 Discuss how the statement was presented;
2.5.2 What items worth noting were included in the statements?
2.6 On the Cash Flow Statement:
2.6.1 Discuss how the cash flow statement was presented;
2.6.2 What items worth noting were included in the statements?
2.7 On the Notes to the Financial Statements:
2.7.1 Discuss the outline in the presentation of the notes to financial statements;
2.7.2 What salient items are worth noting in the preparation of the notes to the financial
statement?