Financial Reporting Assignment

The assignment is to be completed by TWO students. Your answers must be typed. You must submit section 2 of your assignment.

Section 1 - Presentation of financial statements

Additional information:

i) Contributed equity as at 1 July 2016 consisted of:

• 1,000,000 ordinary shares issued at $2.23 each, fully paid - $ 2,230,000
• 360,000 5% preference shares issued at $2.00 each, fully paid - 720,000

ii) On 14 July 2016, a rights issue of 600,000 ordinary shares were made at $2.00 each. The underwriting commission and other shares issue costs other share issue costs amounted to $30,000.

iii) On 30 June 2016, both land and held-to-maturity investmentswere revaluated.

iv) An amount of $178,000 was transferred from retained earnings to general reserve.

v) Accounting policies adopted are consistent with those of the previous year.

vi) The tax rate is 30%

Required -

a) Prepare a statement of profit or loss and other comprehensive income for Greene Ltd for the year ended 30 June 2017 (classify expenses by functions). Show all workings.

b) Prepare a statement of financial position for Greene Ltd as at 30 June 2017 to comply with AASB 101. Use the current and non-current presentation format. Show all workings.

c) Prepare a statement of changes in equity for Greene Ltd for the year ended 30 June 2017 according in accordance with the requirements of AASB 101. Show all workings.

Section 2: Short analysis on a CSR related case

Reading material: Media articles, videos and BHP Billiton's sustainability reports:

1. BHP's deadly dam collapse linked to ramping up production

2. Catastrophic Failure

3. Satellite image from 12 November 2015, one week after the disaster.

4. Download BHP Billiton's 2015 and 2016 sustainability reports. In these two sustainability reports, identify reported information which relates to BHP Billiton's non-operated joint venture operation in Brazil (Samarco).

Required:

Critically analyseBHP Billiton's sustainability reporting practices.

1) You are required to compare the content of the two sustainability reports which relate to the company's Samarco operation. In this section, you are expected to employ relevant theories, such as legitimacy theory and stakeholder theory, to support your findings.

2) Using publicly available information, you are also required to conduct your own research on this incident. Some links to information have been provided above, but you are encouraged to explore other reliable sources to assist with your investigation. In this section, you are expected to provide a summary of information you have found from sources other than BHP Billition's 2015 and 2016 sustainability reports.

Your report has a STRICT word limit of 800 words.

Formatting requirements for all sections:

1. A cover sheet has been attached.

2. Before providing analysis for each question, an appropriate subtitle or heading is used to respond to each question.

3. Standard formatting requirements include using either Arial or Times New Roman font; using size 11 font; using 1.5 line spacing; using a moderate margin and portrait page orientation; and strictly adhering to the word limit.

4. In-text citations and references must be in the correct format as per the unit outline

5. A complete and correct reference list has been provided. Please note that lecture slides or other study materials provided on Blackboard are not considered to be acceptable references (we expect that you will conduct research beyond the learning materials provided to you in the unit).

Only Section 2 is required.

Attachment:- Reading Material.rar