Step #3 completed thankfully!
After some playing around in excel and scaring myself a few times as figures didn't match (until I realised I was reading from the wrong column) it's all completed!
Interestingly enough however.. I had to go back through notes I'd taken from Maria's lecture to see which Income statement I needed to copy - which was the "Comprehensive Income Statement" or "What if" statement - If we sold all the assets in the business right now, what would we get, what would be the income? This helped me immensely!
This is how Opus International differed the names of their statement to those already filled in on our spreadsheet! (left spreadsheet term, right Opus term)
Statements of Movements in Equity = STATEMENT OF CHANGES IN EQUITY
Balance Sheets = STATEMENT OF FINANCIAL POSITION
Income Statements = STATEMENT OF COMPREHENSIVE INCOME
Good work Nick, you're all over this assignment like a fat kid on a smartie!! haha
ReplyDeletehaha thanks sharon :D
Deletehaha thanks sharon :D
DeleteHI Nick, it was good to read about your company. What's your feeling or have you learnt anything extra about the cut backs?
ReplyDeleteMy previous employer cut back on staff, then sold machines, then lost contracts... And the end result isn't pretty.
Also I was wondering, I thought we were supposed to input both Income Statements in our excel spread sheet or nah?
Christian
The cut backs happened only last year, you've encouraged me to looks for a half yearly report if there is one available to let me check financially what the result is! as an assumption, if it's anything like the company I work for then there should be some good coming from the cut backs as generally the roles are absorbed / restructured into other peoples roles and they take on the extra responsibility. Interesting about your company however losing contracts after cutting back staff, how many did they cut back?
DeleteAbout the statements: I'm almost 100% sure it's only the comprehensive income statement and that was after watching lecture 2 I think where Maria took us through the ASS#1 requirements. Cheers. Nick
Hey mate I spoke to Maria it is both income statements.
Deletejust emailed you mate :)
DeleteHi Nick, I also had to look over my notes to distinguish between Income Statements and Comprehensive Income Statements. Lucky we've been paying attention! Great blog and best of luck with the course. Kind regards, Mae
ReplyDeleteThanks Mae!
Delete