So, the task for step 3 of the assignment was to restate the figures from assignment 1 into operating and financial tasks. Personally, I believe that what I have taken away from this is very valuable as I can now look at a company’s annual report and determine whether an activity relates to the operating side or financing side of the business. I believe this is a vital skill moving forward and especially if one is wanting to get into acquiring shares in a company.

How I felt doing the assignment was a rollercoaster of emotions. At the start I had absolutely no idea what I was doing. I felt like a little kid learning how to tie a shoelace, a simple task to an uneducated mind seems like the biggest struggle ever. I watched Maria’s video over and over then suddenly, I figured it out. The SOCIE was coming together and I was able to balance everything correctly. This was a sense of accomplishment! Moving onto the balance sheets, I had an understanding and got the sheet to balance first try! This was the biggest sigh of relief!

Then came time to restate the income statement and my gosh, I have never dealt with so much stress, anger and frustration towards an assignment as I have had to endure whilst doing this section. I cannot for the life of me balance my sheet. I do everything the exact same as the YouTube video, cross-referenced with other people’s assignments whilst giving them feedback to see if I’m missing anything and finally, called in the big guns to give me some guidance (Evan Redward). What a saint he is! Although we were unable to balance it, the help that man provided me was second to none! And I owe him my biggest thank you! I think we spent probably close to 6 hours trying to figure out why my accounts wont balance for the Income statement. To this moment, I still don’t know why they won’t balance. This is a very defeated feeling and I seriously hope I never have to endure this again! I’m fully expecting to be marked down as my figures do not match however, I have been defeated by the restating. If someone can contact me after marking the assessment so we can go through it that would be amazing. I have a feeling its due to the constant change of positive and negative figures from year to year for individual items (more specifically around 2016 when the company went from major losses to significant increases).

Moving away from the negativity, overall, I gained a lot of insight from this assignment and I enjoy restating reports but only when they balance.

Below you will find the feedback I have given to other students:

Amy McClelland	My Comments
Step 3 Restated Statement of Changes in Equity Balance Sheet Income Statement Commentary and discussion with others (Note: You may wish to give some comments on their Excel spreadsheet)	Going through your restated sheets, it is nice to see a simple format allowing me to easily follow along with what’s happening. All items are linked from the financial sheet, so it is easy to ensure that no items have been left out. All your restated sheets balance to what they need to i.e Total comprehensive income in your restated income statement matches the Total comprehensive income in your restated SOCIE. I was surprised to see your restated income statement balance when I did everything the same but have a variance of $7m+. On a positive though, good work on getting your income statement to balance!
Step 4 Individual feedback with other students	Not available
Overall ASS#2 Steps 3 & 4	Overall, your spreadsheet is easy to follow and balances like it is meant to. Great work on doing this mammoth task!

Evan Redward	My Comments
Step 3 Restated Statement of Changes in Equity Balance Sheet Income Statement Commentary and discussion with others (Note: You may wish to give some comments on their Excel spreadsheet)	You have linked everything back to your financial statement sheet which makes it easy to ensure you have included all your totals. I like the fact that you have put comments attached to cells so you can get some background information regarding what the figure relates too. From what I can see, everything balances out which is good. The layout of your spreadsheet is easy to follow and isn’t overcrowded. Great work
Step 4 Individual feedback with other students	I have seen you interacting online with others and I know firsthand how much assistance you can provide. You have helped me extensively throughout this section of the assignment and I cant thank you enough!
Overall ASS#2 Steps 3 & 4	Overall, the simplicity of your spreadsheet and linking back to the financial statements page allows an easy flow on effect. Your formatting allows people to know what is a total and what is an item. Great work overall.

Jewel Westerhout	My Comments
Step 3 Restated Statement of Changes in Equity Balance Sheet Income Statement Commentary and discussion with others (Note: You may wish to give some comments on their Excel spreadsheet)	The restated SOCIE matches up to the totals shown in the financial statements which is good. Its good to see sums at the bottom of each total to ensure it matches however it would be good to link things from the financial statement sheet to ensure you are copying across all items. For the income statement, I had a look at your company’s financial reports, and I think there may be some information missing in your financial statements which will mean your restated amounts won’t match. For example, for 2018, the annual report shows (page 111) $112,975 for Prepayment, deposits and other receivables however this isn’t in your report anywhere (from what I could see). This would make your total current assets $702464 however it only totals $579,489. What this means, is when you restate your report, and use the sum function, as not all information is in there, it wont balance to the totals shown on your ‘financial statement’ sheet.
Step 4 Individual feedback with other students	I can see you interacting with others online which is good to see. You are actively giving feedback and don’t hesitate to help others out. Keep up the good work!
Overall ASS#2 Steps 3 & 4	Overall it is good to see sum functions in the restated reports however I would just double check to ensure that all information from the annual reports are in the financial statements and transpose across to the restated tab.