Assignment 4

1. Who are the organization, key share holders and what are their needs? Identify what you consider to be most important shareholder group and describe how to meet their needs impacts on your work.




Shareholders of an organization are the group who are interested in organizations activities. They are so concerned about all activities, Such as operations, financial activities ect…In addition to share holders there are many groups, who are having different objectives in an organization.

Shareholders are the owners of the company. Their main objective is the maximization of wealth. They concern about performance of the organization. Financial position and financial strong ness, going concern, dividends, profitability, soon to ensure company's safety.

Creditors or lenders are another party who are interested about organization activities. They are concerned in company's ability to meet it's financial obligations. They need to know whether the company can pay to it's debtors.



2. How do you judge whether a piece of work has been successful? What aspects of feedback, Did you have on a recent piece of work. (Either from a client or manager) That was successful?



Judge whether a piece of work has been successful or not if it has meet the following requirement for this judgment I use the recent assignment I did, as an example to explain the answer.



A. If it was possible to cover the risk areas.(Reduce and risk of audit as possible. )

B. If it was possible to obtain all the relevant information from the client. ( Completeness of audit evidence )

C. Clear documentation of working papers.

D. Ability to understand or explain the issues from collected evidence.

E. Finish the audit within the given time frame (As per audit plan )

F. Ability to settle Quarries Successfully.

Assignment 3

1. How and why does your e-mail communication to a colleague differ from that to and external party?




As a way of communication, we can use e-mail communication both for a colleague and for a outside party. But the way of communicating to those parties differ from each others. This depend on the nature of the recipient and the purpose of sending the e-mail. The main difference can be point out as follows.

An e-mail to a colleague is a simple and you can include what ever things you want to communication with. Therefore it can be a very lengthy one. But and e-mail to an external party should be a very short and clear one. It should be on the point where you want to send the e-mail

The language used in an e-mail to a colleague is very simple and understandable. But an e-mail to an external party should be in professional language and easy to understand.

But and large the e-mail to a colleague is very simple and understandable. But an e-mail to an external party should be in professional language and easy to understand.

By and large the e-mail to a colleague is an informal way of communicating and an e-mail to an external is a formal way of communication.

Assignment 2

Cash flow statements (SLAS 09)




1. What are the benefits of cash flow informations?



• A cash flow statement, when used in conjunction with the rest of the financial statements, provides in formation that enables users to evaluate the changes in the assets of an entity, its financial structure (Including its liquidity and solvency) and its ability to affect the amounts and timing of cash flows in order to adapt to changing circumstances and opportunities.

• Cash flow information is useful in assessing the ability of entity to generate cash and cash equivalents and enables Users to develop models to assess and compare the present value of the future cash flows of different entities.

• It also enhances the comparability of the reporting of operating performance by different entities because it eliminates the effects of using different accounting treatments for the same transactions and events.

2. What are the activities, including in a Cash flow statement?



• Operating activities

• Investing activities

• Financing activities

3. Give some examples about the financial activities?



• Cash proceeds from using issuing shares or other equity instruments.

• Cash payment to owners to acquire or redeem the entity's shares.

• Cash proceeds from issuing debentures, loans, notes, bonds, mortgages and other short or long term borrowings.

• Cash repayments of amounts borrowded.

Assignment 1

Events after the Balance Sheet (SLAS 12)


1. What are the objectives of this standard is to prescribe?



• When an entity should adjust its financial statements for events after the balance sheet date; and

• The disclosures that an entity should give about the date when the financial statements were authorized for issue and about events after the balance sheet date.

The Standard also requires that an entity should not prepare its financial statements on a going concern basis if events after the balance sheet date indicate that the going concern assumption is not appropriate.



2. What are the events that we have to adjusted after the balance sheet? Give some examples.



• The bankruptcy of a customer that occurs after the balance sheet date usually confirms that a loss existed at the balance sheet date on a trade receivable and that the entity needs to adjust the carrying amount of the trade receivable; and

• The Sale of inventories after the balance sheet date may give evidence about their net realizable value at the balance sheet date.

• The determination after the balance sheet date of the cost of assets purchased, or the proceeds from assets sold, before the balance sheet date.

• The discovery of fraud or errors that show that the financial statements are incorrect.