Assignment 2 Step 3

BSA Spreadsheet Assignment 2 Step 3

Hi Guys

If anyone has time can you please have a look at my restatement? I would really appreciate it.

Thanks

 

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7 thoughts on “Assignment 2 Step 3

  1. Hi Kaitlyn! I have quickly scanned over your restated financials and everything seems to be in order! I checked that you have correctly linked the right components and that you have used the sum and formula functions when required and it was pleasing to see that this was well executed. I checked to see if your restated statements balance, which they all did, however there is one minor adjustment you must make. The ‘comprehensive net profit after tax’ (CI) component must match the ‘total comprehensive income for the year’ in your restated changes in equity statement, but yours does not. The solution is simple though! You must change what you currently have as ‘total comprehensive income for the year’ to ‘total other comprehensive income for the year.’ Then you must add another line in below and this will be called ‘total comprehensive income for the year’ and to get this total you will need to add the ‘(loss)/profit for the year’ with the ‘total other comprehensive income’. This problem did not effect your balance, however, you will need to make another small change to the calculation of the ‘balance at 30 June.’ All you need to total up to get the balance is the ‘balance at 1 July’ + ‘total comprehensive income for the year’ + the components of the ‘transactions with shareholders’ (e.g. for 2016: 43, 715 + (2,219) + 0 + 0 + 0 + 0 + 0). After you have done this you will notice that the figures from the CI in your restated income statement will match the corresponding figures in your restated changes in equity statement. This was only a very minor error and it should only take you up to 5 minutes to fix. Hope you can understand what I’m trying to say, if not, don’t hesitate to spend me a personal message through Facebook 🙂

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