Here is the fame that was requested by Mr. Bill Wilkinson, our lecturer of the theme, Accounting For Managers (theme code: TBS901). In this fame, I get interpret what I keep considered to be the primary areas of prudence contained in the Annual Fame 2001 of Fountain Set (Holdings) Limited. Next, I get try to resolution and examine its financial office in 2001 infamous on the foundation cedeed in the Annual Fame by using some homogeneity resolution, value and note upon acquisitionability, asset utilization, liquidity, and something-due utilization. Finally, I get cater a incomprehensive balanceall resolution for shareholders on whether they should continue, extension or narrow their cannonade.
I would love to use this turn to cheer you Mr Alpha Choy, the financial fameer of Next Media, who gave me appoint and financial foundation for completing this fame. Also, I would love to pointed my cheers to Mr Bill Wilkinson the lecturer of Master of Office Administration of University of Wollongong, for providing their functional appoint. Hope this fame can acceleration you interpret further encircling the financial plan & office of Fountain Set (Holdings) Limited.
Fountain Set (Holdings) Limited is an form providing fragment effect dyeing and texture finishing services to the textile activity. In this fame, we get try to examine and awaken the Year 2001 financial office of Fountain Set. As the financial statements published in the annual fame keep compromised diverse area of accounting prudence of the form, the forthcoming minority get interpret and recount what peel of prudence that Fountain Set has compromised in the making-ready of these statements.
Besides, we get try to use Homogeneity resolution for examineing the financial status of Fountain Set by comparing the homogeneity effect of Year 2000 and 2001. After diverse comparisons, we build that Fountain Set is a sound form. In Year 2001, the want in the US rule was a big condition on the Fountain Set office. Although it had facing a arduous financial office, it tranquil can keep a amiable financial operation in Year 2001. Therefore, associate to our resolution, we would love to greatly commend Fountain Set (Holdings) Limited to the shareholders or investors.
When we try to resolution the financial office of an form infamous on the foundation cedeed by its own Annual Report, we should not fair cede on this counsel and anticipate that the foundation moderate is alert on a purely superficial foundation. As the producer of the Annual Fame has set diverse primary areas of prudence antecedently preparing the fame, we must perceive out what primary areas of prudence contained in the fame and use some homogeneity resolution for measuring & noteing upon acquisitionability, asset utilization, liquidity & something-due utilization.
In appoint to resolution and examine the financial office of Fountain Set (Holdings) Limited for the year 2001, we get try to use the methods mentioned in the balancehead and finally we get reach commendation infamous on the our perceiveing to the shareholders on whether they should continue, extension or narrow their cannonade. Fountain Set (Holdings) Limited was setup in 1969 providing fragment effect dyeing and texture finishing services to the textile activity. Fountain Set currently has diverse lines of office including the initiatory dyeing and finishing operations, yarn trading, garment sales, and knitting services. Well balance half the company's customers are located in Hong Kong, further than a territory in Asia, and the balance sbelow betwixt the United State of America and Europe. (www.quamnet.com, 5 August 2002)
Principal Area of Judgment Some even readers may believe that, as the counsel cedeed from annual fame has been audited by superficial audit, counsel should be themeive and restorative. Actually expressive, there is some quantity of prudence compromised in the making-ready of such statements. The determination that an form made betwixt these incongruous accounting practices could keep a expressive contact on the balance-sheet valuation of its proceeds and liabilities and upon its fame acquisition.
Therefore reader should attentively examine the annual fame. The primary areas of such prudence are cognate to unroving proceeds, stocks, something-dueors, creditors, and amiablewill. In the forthcoming minoritys, we get try to identify these prudences fro m the counsel cedeed by Fountain Set annual fame. Historic-require foundation of accounting According to the Accounting policies of Fountain Set, the financial statements keep been alert below the truthful require assemblage, as mitigated for the revaluation of fixed properties.