Can I just say the struggle is so very real! I was feeling pretty okay about restating our financial statements because of how great Maria’s online lectures are. I definitely couldn’t have done this without those. But can I also ask, how many times does it take to look at the same numbers in excel before you want to tear your hair out? When completing my restated statements of financial position everything went perfect.
Until…. Until my Total + Equity did not equal NOA for the year of 2013. I just couldn’t work it out. Everything looked right. I could have been looking at it for hours and I just couldn’t see it. I decided that I had to look away from the screen and take a break before my eyes turned square. And when I returned, would you believe it. I could see it. It was shining. I had never been so happy to see an error but I was. I realised that I had not included Property, Plant & Equipment in Operating Assets. Once I added this in, everything seemed right in the world again.
I am currently away for work at the moment and staying on camp so not in my usual environment where I am in the zone so this is causing a slight delay. I do find it a little ironic that I am out at Curragh Coal whom I think parent company is actually Wesfarmers. Isn’t it funny how the world work with the little amusing things. I will be uploading the draft of the statements shortly and would really appreciate some feedback.