AASB101 - Assessment Part 2 Essay

Task:

To complete this essay, you should find a 2017/2018 annual report of a listed company on the ASX. Reserve your chosen company on the discussion board. You cannot choose the company if it has been chosen by other students. ‘First come, first serve’ is the policy for selecting your company.

You are required to answer the following four (4) questions:
1. Explain and evaluate the measurement of inventory according to relevant accounting standard of the chosen company.
2. Identify the inventory system applied in the chosen company.Explain the advantage for the company in choose their selected inventory system.
3. Determine the costing method applied by the chosen company and explain there as on that the chosen company prefers this costing method.
4. Estimate the impact of the different costing methods on the company’s financial statements.