Assignment 2 - Step 3
- kmasso28
- Sep 9, 2022
- 2 min read
Updated: Sep 12, 2022
Well, my financial statements have been restated and I could not be more glad that they're done! The restatements took much longer than I anticipated and had me confused for days on end; it was an endless loop of asking others and questioning myself, and reading the study guide and watching Maria's videos until I could practically recite everything backwards.
Overall, I found restating my firm's financial statements to be a fairly simple, but frustrating and stressful, task. I expected it to be a lot more challenging than it was, however my firm's statements did not vary too much from year to year in terms of new categories being added. The most frustrating part was having figures not balance and spending countless nights uncertain about where I went wrong. I felt much better after learning that it wasn't just me losing sleep over a bunch of numbers! And I even learnt a few things:
The key is to just take your time, even if that involves stopping and starting Maria's videos over and over again and communicate with others. I expected to find errors myself by reviewing my data entries but it wasn't until Martin looked over it that the error became clear. A fresh set of eyes saves a lot of time (and stress!).
As long as your figures are entered correctly the first time, it's just a matter of following steps. One figure can make a massive difference and potentially cause a lot of pain down the track.
A printed copy of your spreadsheet makes a difference. You can go wild annotating and highlighting numbers and headings without endlessly swapping between pages.
Below is my spreadsheet as well as my company The Warehouse Group's financial statements below. I would love to hear any feedback or comments; kayla.macedone@cqumail.com
The Warehouse Group Annual Reports 2019 - 2021
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