CHAPTER 4 Business transactions 1554.38 Go to National Australia Bank (NAB) website at http://www.nab.com.au and download the latest annual
report.
Required
Use these statements to answer the following questions
a. What is the total value of each of the following items at the end of the current reporting year in
the NAB group accounts? For each item, classify as an asset, expense, revenue, equity or lia-
bility. Provide reasons for your classification.
i. Investment revenue
ii. Cash and liquid assets
iii. Trading securities
iv. Goodwill and other intangibles
v. Hedging derivatives
vi. Due to other banks
vii. Property, plant and equipment
b. What is the main source of revenue for NAB? Compare this to JB Hi-Fi. What is the main
source of revenue for JB Hi-Fi Ltd? What implications does this have for receivables on the
balance sheet for both companies?
c. Locate the ‘Notes to the financial statements’. Note (b) provides the Statement of Compliance
for NAB. What accounting standards and other regulation is NAB complying with?4.39 Go to the Australian Taxation Office website, http://www.ato.gov.au, and click on the ‘Businesses’ tab.
Then click on ‘Starting your own business’. Next, click on ‘Record keeping and on-line reporting’
and then ‘Standard Business Reporting’. Click on ‘Digital transformation – SBR Strategic
Reports’.
Required
a. What is SBR?
b. How does SBR work?
c. What do you think are the benefits of SBR for companies?Reference
JB Hi-Fi Ltd 2015, Annual report 2015, http://www.jbhifi.com.au.
Acknowledgements
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Photo: © Dean Drobot / Shutterstock.com.