Conduct some research or use an organisation that you know of, get a copy of an Annual Report

Conduct some research or use an organisation that you know of, get a copy of an Annual Report.

Answer the following questions:

• To whom is this report disseminated and how is this done?
• Why do these people need the information contained in the annual Report?
• What financial information does the report offer - describe the contents of the report and explain what it tells you about the business' activities - successes and non- successes - during the year.
• Examine the financial summaries for information about the fiscal condition of the company. Did the company show a profit?
• What sorts of recommendations are made and what suggestions are made regarding business activities for the up-coming year?

To be assessed as competent in this study unit you must demonstrate analyse:

• financial skills required to work with and interpret budgets, ageing summaries, cash flow, petty cash, GST, and profit and loss statements
• knowledge of the record keeping requirements for the ATO and for auditing purposes

You will need to demonstrate the following skills:

• numeracy skills to read and understand a budget and to update a budget
• technology skills to use software associated with financial record keeping

If possible, find a copy of the Annual Report from the previous year.

• Compare the 2 and report on whether the projections from the first report were accurate.
• Were the recommended changes/improvements made and how did they impact on the next year's report?