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# Finæ�¹æ³�al - ACC1002X Group Project Group B22-1...

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ACC1002X Group Project Group B22-1 Tutor: Luo Shuqing Members: He Yuxuan (A0077938J) Liang Xinquan (A0077904X) Meng Zehui (A0077878A) Sun Rui (A0078082B) 1

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(b) The audit opinion is an unqualified opinion that the company gives a true and fair state of the company financial report. Besides, the company is capable to pay the debts. (c) This audit opinion gives investors and creditors confidence to keep investing. For investors and creditors, they need information to judge whether to keeping investing or not. The audit opinion gives reliable information to investors and creditors. 5. What is the reporting currency of the annual report? (2 points) Answer: The financial statements are presented in Singapore dollars (SGD or \$). (P5) Section II: Analysis of Financial information (44 points): 6. Read the notes on cash accounts of the company (5 points). (a) How many different currencies did Viz Branz hold as cash and cash equivalent? (3 points) (b) Which currency has the largest percentage of the cash and cash equivalent? (1 point) (c) How are the exchange rates of different currencies determined in the reported financial statements? (1 point) Answer: (a) Singapore dollars, RMB and US dollars and others (eg, JPY). (P74~ Note 26) (b) RMB (P74~ Note 26) (c) Transactions in foreign currencies are recorded on initial recognition in the functional currencies at exchange rates approximating those ruling at the transaction

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Finæ�¹æ³�al - ACC1002X Group Project Group B22-1...

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