ACCT20 Accounting|CSR Limited Annual Report

Instructions This assessment task requires students to evaluate various case studies. Case study 1 Fiji Ltd On 15 July 2019 Fiji Ltd acquired 70% of the issued shares of Guan Ltd, enough to give Fiji Ltd control. On 28 May 2020, Fiji Ltd acquires a further 5%. On the same day, Guan Ltd acquired 60% of the issued shares of Vanuatu Ltd, enough to give Guan Ltd control. On 24 April 2021, Fiji Ltd sells 40% of the issued shares in Guan Ltd and loses control. Required 1. Prepare a report explaining the accounting treatment of the changes in the ownership at different point in time according to AASB 10 / IFRS 10. 2. Evaluate when Fiji Ltd needs to prepare separate financial statements and what to be disclosed in these statements according to AASB 127 / IAS 27. Case Study 2 CSR Ltd Obtain a copy CSR Limited’s 2019 annual report . Required: 3. Explain what disclosures are required by AASB 101/ IAS 1 regarding accounting policies, changes in accounting estimates and errors AASB 108 / IAS 8. 4. According to the accounting policy disclosures listed in 2019 CSR Limited Annual Report, analyse CSR’s accounting policies with respect to a. compliance b. currency c. depreciation d. rounding [10 marks] 5. Advise CSR Limited of the disclosures, if any, for the change in accounting policy in future.