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Step 3 – Write Up I wasn’t nervous to start restated my financials. I know that there is a scary aspect to it, but it definitely isn’t as terrifying as other people lead on… it’s just something we need to do. I did start restating a little late due to the fact I was pre occupied with two other assessments, but I was confident in the fact that I would be fine when I get to restating. I had confidence in my knowledge of my firms’ financials, Maria’s videos, my classmates if I run into any troubles, the Facebook chat, Martin and so many other people to go to if I needed help. It was a bit dauting when I started, but like everything, you ease your way in and adjust. I did get frustrated a few times at my financials because they were either, missing footnotes or not balancing but I learnt from accounting in high school that you will not do everything perfect the first time around. Everything takes time, practice and a whole lot of effort, this subject and everything we tackle in life in general is no different. So, I put all the frustration in high sight, I think to myself, ‘When I am done, I simply won’t have to do it anymore’. Which seems so obvious, but it is very true and seems to get me though anything! : ) anyway onto restating… Restated Statements of Movements in Equity The first item I restated in my financials is the, ‘Restated Statements of Movements in Equity’ sheet. Now, seeing that Maria Tyler’s video was only 10 minutes long I was cheering! I was like, ‘Wow easy, can’t wait, let’s go! This changed pretty quickly when I was 5 minutes in and couldn’t for the absolute life of me couldn’t classify my comprehensive income or my profit before tax for 2016 and 2015. Three days later, I completed steps 5 and 6 instead, waiting to meet up with a classmate, Shannon, for some help. We sat down for an hour to find my correct comprehensive income figures and

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Page 1: claudiamtblog.files.wordpress.com€¦  · Web viewStep 3 – Write Up. I wasn’t nervous to start restated my financials. I know that there is a scary aspect to it, but it definitely

Step 3 – Write UpI wasn’t nervous to start restated my financials. I know that there is a scary aspect to it, but it definitely isn’t as terrifying as other people lead on… it’s just something we need to do. I did start restating a little late due to the fact I was pre occupied with two other assessments, but I was confident in the fact that I would be fine when I get to restating. I had confidence in my knowledge of my firms’ financials, Maria’s videos, my classmates if I run into any troubles, the Facebook chat, Martin and so many other people to go to if I needed help. It was a bit dauting when I started, but like everything, you ease your way in and adjust. I did get frustrated a few times at my financials because they were either, missing footnotes or not balancing but I learnt from accounting in high school that you will not do everything perfect the first time around. Everything takes time, practice and a whole lot of effort, this subject and everything we tackle in life in general is no different. So, I put all the frustration in high sight, I think to myself, ‘When I am done, I simply won’t have to do it anymore’. Which seems so obvious, but it is very true and seems to get me though anything! : ) anyway onto restating…

Restated Statements of Movements in Equity

The first item I restated in my financials is the, ‘Restated Statements of Movements in Equity’ sheet. Now, seeing that Maria Tyler’s video was only 10 minutes long I was cheering! I was like, ‘Wow easy, can’t wait, let’s go! This changed pretty quickly when I was 5 minutes in and couldn’t for the absolute life of me couldn’t classify my comprehensive income or my profit before tax for 2016 and 2015. Three days later, I completed steps 5 and 6 instead, waiting to meet up with a classmate, Shannon, for some help. We sat down for an hour to find my correct comprehensive income figures and then we were done in those magical 10 minutes following Maria’s video. See what had happened is that my company Top Glove, just classified all their comprehensive income as; ‘Comprehensive Income’ & ‘Other Comprehensive Income’. That’s it. They had no footnotes to help me understand or classify the different aspects that make up my comprehensive income.

Fortunately, (I don’t remember who said this!) but in the Facebook chat someone else mentioned they had this same problem, thankfully the comments said to classify it under ‘operational’, so I did

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and thankfully everything worked out just fine. Also, in Top Glove’s SOCIE, for 2018 and 2017 it clearly stated the profit net tax, as well as stating it in the directors’ report (not sure why?). In 2015 and 2016’s SOCIE there was no mention of profit net tax, it was only in the directors’ report (again, WHY, literally took me 3 days to realise?!) And also emailing Martin asking him for advice and him leading me on the right path, thankfully the numbers matched and worked well in restating my statements of movements in equity. After I sorted those few lines out, I was on a role for the rest of the video, considering I only had to link my transactions with shareholders from my original financials over to my restated financials.

Restated Statements of Financial PositionWhen I was completely stuck on restating my statements of movements in equity, I moved onto my balance sheet. I found the balance sheet really easy to do. Maria’s video was really straight forward and so incredibly helpful! Classifying my operating and financial assets was really easy. I quickly put an F next to Cash and bank, derivatives financial instruments and investment securities (had to google that one). The rest were pretty explanatory why they are O, e.g. inventories, investment property, goodwill and even land use rights (also had to google that one too) as they are required for the ongoing operations of the business. Differentiating my liabilities between financial and operational was pretty straight forward as well as I had a lot of accounts similar to Maria in the video an I didn’t have a monumental amount of liabilities anyway. Again, I classified my ‘F’ first as I find them easy to identify, anything that didn’t fit into that category went to ‘O’. I did double check I was right as well as the footnotes to these accounts in the balance statement were actually useful. Restating the balance sheet was the easiest out of all 3, I followed Maria’s video to a T and found it pretty straight forward.

Restated Income StatementsI was very worried when I saw people in the Facebook chat talking about restating the income statements. I started mine late, because I didn’t have my Comprehensive Income completed above complete, but I was worried to even start! I thought well, if my restating my equity and such was hard in screwed. I have to admit the first time I followed Maria’s video I really messed up my Income Statement. Like really. I had Shannon again, try to help and she was literally like, “???”. I had the wrong headings, things mis-classified and even added totals from mt financial statement. I had another attempt following Maria’s video and I completed it successfully the second time, seriously made me wonder what I was doing the first time. Identifying my operating income was very easy as I only had, ‘revenue’, ‘other revenue’ and ‘share results of associates’ as well just like Maria and West farmers. When I tried to split my expenses between ‘O’ and ‘F’ I had a bit of trouble. Next to my expenses again no footnotes to help!

I definitely knew my finance costs were ‘F’ but it didn’t hurt to double check. I classified them to ‘O’ and thankfully everything worked out. Classifying my operating comprehensive

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income was a challenging effort too. At first, I had only my, ‘cash flow hedges’, ‘foreign currency translation differences of foreign operations’ and ‘foreign currency translation differences of associates’ in operating. I then realised that I need to add ‘net movement on available-for-sale financial assets’ to my operating CI.

I had classified it to my financial comprehensive income because I just saw the word ‘financial’ but it better suited with the comprehensive income as I was following Maria’s video. (if I need to change it, I will be happy to!) I was just scared that I was going to mess up so as soon as I saw the total match my financials, I didn’t dare to touch it just in case. When calculating my net financial expenses, I found my financial costs easily but struggled to find my labelled, ‘financial income’. Again, reading thoroughly though Top Glove’s reports I found that the finance income had been included in ‘interest income’. Now after all that fuss calculating my total comprehensive income attributable to the members of the parent was pretty straight forward. I just can’t believe the rush on anxiety I got before I clicked enter on my keyboard. It was just a, ‘PLEASE, don’t make me do this AGAIN’ cry! Thankfully all my total matched my original totals instead of my figure for 2018… just my luck. I posted in my Facebook requesting help and Loree Preston, my saving grace, picked up an error I made in my original financials regarding my tax expense. After fixing that, they equal and I have never been more relieved.

OverallRestating my financials was a tough journey but with the help of Maria Tyler, Martin, my classmates and our Facebook group chat it was pretty straight forward. I had the most trouble with my movements of equity believe it or not, the rest was just really not as draining as that so I’m not complaining… who’s going to listen anyway right? Anyway, I am really glad I have gotten that out of the way! I feel that I really do understand Top Glove a lot better. I have a bone to pick with them though. PLEASE for the love of god use more footnotes, make a separate heading for finance income and don’t lump everything under one heading! – would appreciate it!

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Interactions with other students

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Step 4 – Peer Feedback By Me to Others

PEER FEEDBACK SHEET: ASS#2 Step 4Feedback to: Shannon PengallyFeedback from: Claudia Turiano

My CommentsStep 3Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

SOCIE Closing Balance matches your original financials which is fantastic. Everything is linked to your original financials which means you really listened to Maria’s instructions. Bolded heading, totals italicised, spaced out – makes your statement easy to follow. Balance SheetNeatly spaced and set out (bolding and italics were needed)Everything is linked from your original financials.

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Your NOA and NFO have been calculated correctly and you have classified everything to O an F correctly. Equity has also been carried over correctly.Income Statement Set out lovely and easy to read. Everything is classified to O and F respectively.Tax is set out correctly (regarding negative changing)Comprehensive income total matched original financials

Step 4Individual feedback with other students

N/ABut I do see you commenting as much as you can on other people’s posts in the Facebook group trying to help them as much as possible. You go out of your way to make sure others are on track and that is very admirable.

Overall ASS#2 Steps 3 & 4

Your restated financials are set out perfectly. Very neat, tidy, easy to read and most importantly, correct! Your ability really shown though here, very excited to see what you produce in the future.

PEER FEEDBACK SHEET: ASS#2 Step 4Feedback to: Nathan JarrettFeedback from: Claudia Turiano

My CommentsStep 3Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

SOCIEYour SOCIE seems to be very short and sweet! It is all entered correctly and the closing balance matches your original financials. You will just need to fix your formatting before you submit your assessment. You could also adjust the size of your ‘word’ columns because they are massive! Just make it look a bit neater and more readable. Balance SheetNot sure why some aspects are highlighted yellow. Just fix up some formatting issues here, also bold some headings and italic some titles. Otherwise, all your totals are correct. You have subtracted when needed and you have linked your financials correctly which makes summing easier. Your NOA equals your Equity + NFO which is fantastic! Solid Effort!Income StatementYour company has such little operating income and expenses to classify I’m jealous! Your tax has been calculated correctly and your Total CI matches your original financials. You have followed Maria’s video to a T because your income statement is set out perfectly! Just fix your formatting.

Step 4Individual feedback with other students

N/A

Overall ASS#2 Steps 3&4

Great effort with your financials. They are set out correctly, just make them a bit more reader friendly but fixing your formatting, bolding titles and italicising totals! Good luck for the rest of your degree!

PEER FEEDBACK SHEET: ASS#2 Step 4

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Feedback to: Natasha BennettFeedback from: Claudia Turiano

My CommentsStep 3Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

SOCIEYour formatting, bold, titles and italicised totals make your SOCIE easy to read. Your closing balance matches your original financials which means you are right on track here! Good to see you have included a title financial comprehensive income, it shows that although you don’t have any you listened to Marias video. (also, you have spelt it with an A instead of an E in comprehEnsive)Balance Sheet Again, set out really neatly with correct formatting, bolded titles and italicised totals. (Amounts advanced to related parties’ totals need to be white)Your NOA equals your Equity + NFO which is fantastic and you have classified into O and F perfectly! Can’t see any errors, great effort!Income StatementFormatting great!Your have classified everything correctly and you tax has been calculated correctly too! Awesome! Your total comprehensive income also matches your original financials.

Step 4 N/AOverall ASS#2 Steps 3&4

Your statements are set out perfectly, fantastic effort! Your ability and skill have really been shown here. Good luck for the rest of your degree can’t wait to see what else produce.

PEER FEEDBACK SHEET: ASS#2 Step 4Feedback to: Zoe JefferyFeedback from: Claudia Turiano

My CommentsStep 3Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

SOCIEYour SOCIE is short and sweet, really nice to read. Your totals match your original financials which is good! You have put financial comprehensive income even though you don’t have any this shows that you still acknowledge and understand the term even though you don’t have in your company. Solid effort!Balance SheetYour NOA and NFO + Equity doesn’t match for 2017, it does for the rest that means that something is wrong with 2017 which is okay. I had a quick glance to see what was the issue. I can’t pick it exactly because your numbers are linked from your original financials and you haven’t mis calculated any numbers summing your answers. Maybe go back to your financials and check if they have been entered correctly. (I had an issue where mine didn’t balance, I had a positive number when it was meant to be a negative) – maybe it might be the same issue?Besides that, it is set out perfectly and is really easy to follow and understand which is great. Income StatementYour totals match your original financials and you have linked your numbers across which is great. It is set out really nicely and

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consistently.Word Document Your word document was a really good write up. The visuals of Kogan’s financial statements made me understand the company and the way they operate. You in depth went into classifications which shows your admirable alibility in this subject.

Step 4Individual feedback with other students

N/A

Overall ASS#2 Steps 3&4

Overall, this assessment was great to read and evaluate. Your spreadsheet is set out fantastically and your word document explaining the process was a good read. Just some tweaks to your restated balance sheet and you will be all good to go. Great effort! Can’t wait to see what else you produce in the future!

PEER FEEDBACK SHEET: ASS#2 Step 4Feedback to: Kym Hof Feedback from: Claudia Turiano

My CommentsStep 3 Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

SOCIENot going to lie but I found your SOCIE really hard to follow! I can see that you have had some trouble with it from the notes you have provided. This one was a hard one for me as well! It is good that you have the notes to justify and further explain what you have done. Your total comprehensive income matches your loss for the period and your closing balance matches your original financials as well, which means you are on the right track. good effort! I see that you have linked everything from your previous financials which is great, just fix up your formatting in your restated SOCIE and you should be alright!

- I really can’t be much help in classifying your liquidations account. Are there no footnotes explaining it any further? Maybe swing Martin a quick email.

Balance SheetYour balance sheet is short and sweet, jealous! Everything looks great here! Your formatting is great, bolded titles, totals and the spacing between each group of items makes it really easy to follow! Your notes on the side are really great, you can visually see you breaking down everything and inserting it into your sheet. You have linked your financials which is great! Your total NFO + Equity matches your NOA which is fantastic! Perfect balance sheet!!! : ) Income Statement Damn! Your income statement makes up for your short balance sheet! First, just fix up your formatting before you submit, keep your format consistent. Make sure you get rid of your decimals and have whole numbers and if you separate the items in one statement make sure you do it for the rest. I got this advice given to me and it made my financials look a lot nicer in the end : ) Your tax looks good! Haha! Can’t believe you didn’t have tax that’s so lucky and interesting! Your total comprehensive loss matches your original financial statements and I

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see you have carried everything over. Can’t see any budding issues with your classifications either which is good! Everything has been subtracted and added respectively. Solid effort here!

Step 4Individual feedback with other students

N/ABut I do often see you reply to many people in the Facebook chat trying to help people as much as possible which is very admirable and helpful!

Overall ASS#2 Steps 3&4

Really great effort I your financials, you should definitely be proud of your efforts! Just overall, fix some formatting errors and maybe just look over your SOCIE again to make it a bit easier to follow. Besides that, really great effort here can’t wait to see what else you produce in the future.

PEER FEEDBACK SHEET: ASS#2 Step 4Feedback to: Jayson BlackfordFeedback from: Claudia Turiano

My CommentsStep 3Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

SOCIEYour SOCIE is set out really nice it is very easy to read and follow. Your totals match your original financials and you have linked your numbers from your original financials. You can tell you really listened to Maria’s video because your titles are bolded and italicised correctly and precisely. Solid effort here, it’s perfect!Balance SheetJust some formatting errors here, some of your font sizes are different throughout which is a quick fix. The borders around the totals make your balance sheet really good to read. Just to keep it consistent throughout the entire sheet add the borders to all the totals you have not just the sheet, so it looks a bit more professional entirely. Your NFO + Equity equals your NOA which is great. Can’t see any issues with how you have classified things and your sums, respectively have been totalled correctly. Income StatementYour income statement is set out lovely as well. You tax benefit totals are bolded, not sure why. Your tax has been calculated correctly and your Total comprehensive income in your restated financials matches your original financials which is really good.

Step 4Individual feedback with other students

N/A

Overall ASS#2 Steps 3&4

Overall, really good work with your step 3, just some formatting errors that can be corrected very easily. Everything seems to add up perfectly which is just what you need! Good work on this can’t wait to see what else you produce this semester!

PEER FEEDBACK SHEET: ASS#2 Step 4Feedback to: Clarice PalomarFeedback from: Claudia Turiano

Step 3 SOCIE

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Restated statement of changes in equityBalance sheetIncome StatementCommentary and discussion with others

Set out perfectly! Great formatting, bolded titles and italicised totals, it really showed you listen to Maria’s video precisely and carefully. It makes your document so much more professional and easier to read. Your write up supporting your dictions in classifying your O and F is also very in-depth. Including some of your firms’ financials makes it easier for the reader to visually see where the numbers come from and how you made the decision. Great work here!Balance SheetSorry to hear you had so much troubles with your balance sheet. I loved the idea of printing out the firm’s statements, never thought of that but thinking back that would have been so much easier! It is really good that you highlighted your struggles and how you sat down analysed your firms’ statements and got to the bottom of it! Solid effort. Everything has been linked from your original financials, your sums are correct. Your balance sheet is set out great no issues, it is consistent and easy to read. Just before you submit your step 3 there is just some orange/blue and yellow highlighted rows you could get rid of? (that’s only if you don’t need them) Income StatementYour totals are all correct, linked and set out perfectly! Your income statement is short and sweet which I am so jealous of! It totally related to your income statement write up, I found this not as challenging as what other people lead on. Your, ‘I’m going to get this done’, really shows your persistence and personal encouragement. Love it, keep that positivity up!

Step 4Individual feedback with other students

Looking at your word document the feedback you have given to people is very personal and in-depth. You take the time to look at their financials and comment on them respectively. It was great that you personally reached out to me for feedback exchange, you feedback is always fantastic!

Overall Feedback ASS#2 Steps 3&4

Proud of your overall effort in Step 3. It is perfect, athletically pleasing and you can tell you have utilised Maria’s videos to your absolute advantage! Congratulations on your efforts and good luck for the rest of this unit and degree, I would love to keep in touch! : )

Feedback Received to Me from Others

From; Natasha BennettMy Comments

Step 3 In your ‘restated income statements’ paragraph, there are a few spelling mistakes, I strongly suggest reading it out allow or asking someone else to proof read it. Some of the numbered cells in your ‘Restated Statements of Movements in Equity’have different formatting, example some have decimal places and others don’t. For this statement I would suggest removing the decimal place, as to ‘tidy up’ the look of it, but you could also leave it, depends on yourself. Also, the formatting needs to be the same throughout the whole document for ease of reading, identifying and cleanliness. Totals

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should have the same, e.g.italics, and titles should be the same, e.g. bolding, and so forth. Are decimal places needed throughout the whole assignment or just for the one statement where they are needed?The ‘Restated Statements of Movements in Equity’ has ‘Transfer to employee share scheme’ with a spelling mistake, as well as the 2017 cell doesn’t have a figure and isn’t linked. You line formatting is a bit over the place, this should be looked at. Some other cells are missing figures and not linked. This can easily be checked be changing the document to show formulas and identifying where they aren’t any. Also double checking your entries against the original figures could help and going through each cell to check if there is a figure in everyone. Although some cells are missing figures, those with figures are all linked or are totals and have formulas in them. You utilized the working area, just as Maria did in her video, good job.

Step 4Overall ASS#2 Steps 3&4

Well done on your work, sorry to hear that you struggled at the beginning. I wish you luck with the further assessments. Congratulations on your work and persistence so far. Your totals and checks all seem to match and I agree with all of your classifications throughout, great job.

Feedback from; Nathan JarrettMy Comments

Step 3 Everything appears to balance.2) the formatting is good. Perhaps boldinginstead of italics. This could just bebecause of my laptop, but I find it hardto read and follow.3) The italics are really missing me up.

Step 4 Nice in-depth feedback.Overall feedback ASS2# Step 3&4

It looks good and everything balances. And thefeedback is looking good and nicely developed.

Feedback from: Jayson BlackfordMy Comments

Step 3 From Claudia’s step 3 it is quite interesting how she dealt with her problems throughout this assignment. Not only did Claudia get in contact with Martin via email but Claudia also got help from a fellow classmate Shannon to assist in her assignment.

Restated Statement of Changes/Movements in Equity

In Claudia’s first paragraph she discusses in depth the process of completing her assignment and how she managed to get there from the help of others which I believed is crucial in explaining how she got to her final product. I honestly think Claudia has nailed it on the head and I believe there is some minor tweaks she can improve on. Claudia’s excel also seems to have followed the correct rules and equations for the correct comprehensive income to match her financial statement.

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Balance Sheet

In Claudia’s paragraph about her balance sheet we can see how she effectively utilised Maria’s video once again to assist her with her assignment, she also talks about how she differentiated financial and operational costs from each other. I really think Claudia could possibly expand on her Balance sheet paragraph a tiny bit more, things like did she have trouble understanding the rules from the video (if not state how you then later understood them) or, what was the most crucial part to her in the restating the balance sheet to add a little more character and length to the paragraph. Correct formula’s and layout have been followed successfully as well as linking.

Restated Income Statement

Claudia’s paraph about her restated income statements was rather interesting as she pins pointed her troubles in her assignment and described how she figured out what to do, another thing she could do while showing us how she figured this out is to possibly add pictures to assist in this. Claudia then ventures to explain a little bit about each thing to later link it back to moving on from her error and closing the paragraph. Excellent paragraph! Just work on words that can be joined together such as, Facebook chat talking to Facebook chatting. In Claudia’s Restated Income Statement on Excel it seems as if all the Operating and Financial activities are correct. Her total comprehensive income matches her financial statements and has included a check to verify this! Well Done! Also, great use of working out is being used in the Working area!

Overall

Claudia’s final paragraph was rather interested as she focused a lot on her personal connection with understanding where she went wrong and how she could improve next time in a funny way. She briefly speaks about her journey with the assignment which could be elaborated a tiny bit more.

Step 4 However, I have seen the effort Claudia has put in towards giving feedback towards others and believe she spend a lot of time to critically analyse and develop an understanding of someone’s assignment to then give constructive feedback

Overall feedback ASS#2 Steps3&4

Overall, I believe as if Claudia has really given 110% this assignment, she has showed that through her problems in her working that she has solved them through the help of her peers in this unit, she has included great use of the resources and connection with others in this unit especially seeing how active she is in the accounting Facebook page. I believe that from this assignment that she has described everything as much as she can but could possibly add some finishing touches to perfect her assignment! Well Done!

Feedback from: Shannon PengallyMy Comments

Step 3 You have done a great job restating your figures, you have used linkingand formulas well. I have picked up a minor SUM error in your restatedSOCIE, it appears that you have include an extra total in your sum

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which has caused the closing balance to be out, I have highlighted the section in your spreadsheet that needs to be changed so you can look into it. The rest of your figures and totals all marry up to your original financial statement. You restated financial position looks great, all of your required totals, links and formulas look in order to me. Your tax has been allocated correctly and the overall look of your spreadsheet is clear. You have formatted it well so it is easy to read and identify headings, totals and figures. I think you might need to change your ‘bottom line’ from Total comprehensive income attributable to the members of the parent (in cell B124 of your original income statement) to Total comprehensive income for the year (cell B120 of your original income statement) they are the same figure so there is no worry about it not matching up.

Step 4 Your peer feedback submitted for my assignment was well thought outand detailed. It was helpful having another set of eyes to reassure methat I hadn’t made any major errors in my links, formatting or formulas.You are willing to help others and I can see you helping others in theFacebook page when you are able to.

Overall feedback ASS#2 Steps3&4

You have done a great job of restating your financials for Top Glove! We both know how difficult your annual reports and financial were so just getting your figures to match was a triumph on its own!There are a couple of minor formatting areas that could be tweaked tomake it look a little more professional but otherwise your spreadsheetlooks great. Small things like, ensuring that the borders on the whole row of totals are uniform (e.g. the as restated line in your restated SOCIE). Another is removing unnecessary decimals, I had someone else give me this feedback and after changing mine it looked so much neater. Good luck with the rest of your assignment!!!

Feedback from: Zoe Jeffery My Comments

Step 3 I initially glanced over your restated financials and throughout you had formatted pretty well. I do have a few suggestions that may help improve your spreadsheet. You have indicated throughout your spreadsheet in areas where you may not have a number that they are 0. In Maria’s video she suggested that instead of having a 0 it should just be left blank. This is to indicate that the firm has not included the item for that period. I can see this has been done in all three of your financial statements. I do recommend if you change the 0’s to blank cells that you do this throughout. Whichever method you select I suggest you do it consistently in your spreadsheet – this makes it much easier to read and is less jumbled. I also noticed in your spreadsheet that for some numbers you have one decimal place and in others youdo not have a decimal place. I recommend you wither chose tohave a decimal place or none. This will fix up any inconsistencyand make your spreadsheet look more professional. I also foundwhat I assume is a formatting error. I have attached an imagebelow. I am not sure if you are aware of this, but this error should betied up to make you spreadsheet easier to read. I also noticedthat your final statement (the Income Statement) had a space

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between your headings and the section before. This looked reallyneat and made it easy to read however, this was not done in yourprevious statements. I suggest that you select a way offormatting your statements and follow it throughout each tomake it more consistent. This just makes them appear moreprofessional and clearer to read. Your word document is also very easy to read, and I can easily identify each section with your headings. I did notice that you did not include an introductory paragraph. I recommend that you add in a few sentences before breaking down each statement. Another suggestion for this section is adding in snippets of your financial statements to show a visual representation of what you are actually talking about. I find this very useful as a reader to be able to see an image of what you are trying to communicate. Thiswill also just help enforce your points. Other than the pointsmentioned above I thought your word document was very wellpresented and all the correct information was included.

Step 4Over feedback ASS#2 Steps 3&4

Overall, I found your draft very well put together and easy tofollow. I believe you are well on the right track and you only havea few minor errors to address. If you have any questions aboutthe feedback I have provided, please feel free to contact me [email protected]. Good luck with your assignment ��

Feedback from: Clarice PalomaMy Comments

Step 3 SOCIEYour SOCIE formulas and links all worked as your balances matched that of your originals. I also had a bit of a struggle with this financial report but we both manage to pull through. Everything is very easy to read. I don’t see any other error in this section. Well done!

Balance SheetI found your Balance Sheet to be very neat and well put together. The spacing for each category such helps the reader to analyse the sheet better. Bolding of titles and totals were used well. As well as the borderlines to indicate the end totals for the figures too. The formula and links are accurate. It's great that you found the restatement of this financial sheet to be the easiest, whilst I found this to be my hardest out of three. Overall, this was an easy read, the layout and formatting were spot-on.

Income StatementYour Income Statement was flawless. Great use of spacing, it clearly separates categories from each other for an easy read. The use of bolding and borderlines was done well. Great use of the decimal point as well. Overall, the formatting and layout for this restatement are neat and clean.I also love how you added a ‘Check’ heading which links to original figure to show you have done your calculations right. Commentary and discussion with others. It great to see that you really engage with the

Page 15: claudiamtblog.files.wordpress.com€¦  · Web viewStep 3 – Write Up. I wasn’t nervous to start restated my financials. I know that there is a scary aspect to it, but it definitely

Facebook group discussions. I also see that you have given one peer your assistance. Great job!

Step 4 You have given at least six people feedbacks on their work. That’s amazing. I also see that the information you have given them is beneficial and well put.

Overall Feedback ASS#2 Steps 3&4

Overall your ASS#2 Step 3 is well presented well. Although, as I read your reflection for step 3 with the word doc you provided, I did notice a handful of spelling errors, don’t worry I have a few myself but it would be best to have a read over what you have written to correct some words. Nevertheless, I see the great effort was made to put this assignment together. Keep up the great work!

To ConcludeI am really proud of my efforts in step 3. Whenever I was stuck, I always knew I had a great net work of people who were willing to help me! I really enjoyed this step and I really love this unit! As we are slowly getting into the final stages of this assessment piece I look back to March and realise how much I have really learnt over these two months! It’s something I am really passionate about and truly enjoy, I can’t wait to get into the next steps!