Acty6201: Financial Accounting - Assessment Answer

Assignment Task:

Task: You are required to answer the given questions on page number 2 with respect to the information given for Paskal Ltd. on page numbers 2-7. 

Aim of the assessment: The aim of this assignment is to demonstrate your ability to prepare general-purpose external financial reports in accordance with generally accepted accounting practice. 

Learning outcome covered in this assignment: 

LO1 Prepare general-purpose external financial reports in accordance with generally accepted accounting practice 

Process and instructions: 

• Form a group of 3 or 4 students. Each group is to nominate a leader. The group leader is responsible for submitting the report on behalf of the group 

• Your group assignment must be submitted in hard copy as well as in electronic copy. 

• Complete the cover sheet and attach it to the hard copy of your assignment, which should be typed and printed on A4 paper. 

• Where applicable, show detailed workings (calculations). 

Requirement: Prepare the following for Paskal Ltd in accordance with the minimum requirements of the New Zealand equivalents to International Financial Reporting Standards and the Companies Act 1993: 

1 Statement of Comprehensive Income for the year ended 31 March 2019 12 marks 

2 Statement of Changes in Equity for the year ended 31 March 2019 12 marks 

3 Statement of Financial Position as at 31 March 2019 (Comparative figures are required)

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