30 September is the last day to submit the audited accounts to ASX, so I managed to get them both done before the deadline. Phew.
What have I learned? Technically, firstly, I prepared the finance lease asset and liability for the first time according to the new accounting standard. When I was in uni, they talked about the change of removing all off-balance sheet leases. That day is finally coming. I was pretty good at calculating finance leases, now although the lease has a different name, I managed it well. Secondly, I learned how to value options using Black Scholes model. I knew option valuation when I was preparing CFA level 2 exam a few years ago. I understoond fixed income and options were really hard but I never understoon why people wanted to value those options. I hope it’s not too late but I understand the reason now as an accountant. This small issue also reminded me about my passion of finance, so I will pick CFA up one day.
Something not technical? Well, I once worked with auditors in the same office and heard they complaining about the clients all the time, so I know how important to co-ordinate with the auditors to meet their timeline. Given it’s the first year for me to prepare the job, rather than creating my own shedule, it’s much easier to follow their instruction. It’s strange that some people just treat auditors like a supplier, I found the auditors were quite helpful. For this job, they gave me some helpful guidance on option valuation and cash flow reconcilatio, so I can’t really say bad things about them.
I can finally add listed company year end accounts to my resume now.