Wow where to begin… this has definitely been the most challenging step in this course for me so far… i struggled with the entire process! and am still unsure if what i have done is remotely correct…
It has been a great help being able to see and learn from other peoples restated statements in order to help me navigate my own however i have also become quite jealous of those peoples companies whom income statements are half the size of my my own, i thought i had got a good deal with the company i was allocated but now think i would have preferred a smaller company with less items on its statements. But you have to deal with the hand you have been dealt so no point getting down about just have to try and do your best right?
Statement of changes in equity i didn’t really feel like i made much changes when restating so hopefully it has been done right. Restating the balance sheet i found i understood the best out of the three and once i got started was able to make good leeway and think that i got most of that one right. Atm my balance sheet is still not adding up to what it is meant to be tho, I’m not far off so hoping i will be able to figure it out by the due date. I found the income statement quite hard to restate, just not being 100% confident in what i was doing and making a few guesses and assumptions so i am doubting a bit that i have done it correctly.
I am yet to provide any feed back to other students, however it is on my to do list for tomorrow. Not too sure how helpful i will be to others though considering i still don’t know if what i have done is right itself, definitely wouldn’t want to give anyone wrong information. Maybe there are some areas i am able to help with though so i will try and give some informative feedback.
I guess we just need to solider on and keep trying!