Question

Select a publicly traded company and access the company's most recent annual report (select the "Investors" menu item). Locate the notes to the financial statements and identify the information topics disclosed in these footnotes and explain the reasons for disclosure.

Answer 1

I am selecting a company name Avanti feeds which is listed on stock exchange of India and I have gone through its annual reports in order to find out the notes to financial statement which is reflecting-

A. The basis of preparation of books of accounts which is reflecting accounting standard which has been followed and guidelines which has been adopted.

B. Notes about depreciating asset is providing the basis of valuation of depreciation which has been followed by company and which is declining method according to the Generally accepted accounting principles

C. Notes about valuation of inventory which is reflecting the weighted average method of valuation of inventory which is adopted by Avanti feeds in accordance with International accounting standards.

D. Notes about consolidation of the financial statements and all the other subsidiaries which has been merged in order to formulate the consolidated financial statements of the company.

E. Notes about reporting the debt and claims of the creditors and various contentions, company is exposed to, regarding to debt management.

F. It is also reflecting the changes in market structure due to coronavirus and effect on the sales of fisheries all across the world.