Assignment Task:
Task:
1. INTRODUCTION TO FINANCIAL STATEMENTS Case Study – Ball Sports Victoria1 financial performance DUE: FRIDAY 12 NOON WEEK 4 via LMS Review the Ball Sports Victoria financial statements presented at the recent Annual General Meeting. The stages of this case study are: i. Review each of the three major financial statements – income statement, cash flow statement and balance sheet. ii. If you were a committee member at BSV, what questions would you have about these statements? What would concern? iii. Conclusion about Ball Sports Victoria’s financial performance.
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Get Help Now!1. Review each of the three major financial statements :
a. Review of income statement
• Review the trends in revenue, expenses and profits over the past two years.
• Are there any areas of expense or revenue which requires more detailed review or discussion at the next committee meeting? b. Review of cash flow statement
• Review the cash flows statement. What does this indicate about the sufficiency of operating cash flows?
• Do the cash flows presented in the annual report financials indicate the association is solvent, probably solvent or insolvent? Explain your conclusion.
c. Review of balance sheet
• Review the two year trend in assets liabilities and equity presented in the annual financial report. Within each category, what have been the major causes of these trends?
• What is the most pressing concern for BV and how can the board best address this concern?
2. Questions or matters of concern to you if you were a committee member.
3. Conclusion:
• Focus on the financial statements and ratios to write your conclusion about Ball Sports Victoria’s financial performance.
1. Is Ball Sports Victoria solvent? 2. What is your overall conclusion of the financial performance? What would you recommend as action to address any issues?
1 Please note: this case study is based on actual financial documents of a State Sport Organisation, however the name of the organisation has been changed.
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