Question 1.2

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• Annual Report 2013 Financial Position Findings

ASSETS

1. Cash and cash equivalents to me means that this is the total amount of cash that Advanced Share Registry has immediate access to if they need. So as at 30/06/2013 Advanced Share Registry had $4,802,432 which consisted of $1,738,432 in a normal bank account and then $3,064,000 in short term deposits which cannot be touched until maturity date. So, Advanced Share Registry can gain access to this cash to pay bills etc and can be converted to cash in less than 12 months which is why it is a current asset.
2. Trade and other receivables to me is the most important aspect as it is the money that Advanced Share Registry is still yet to receive from customers. Hopefully, all these are actually going to be received and not bad debts. At 30/06/2013 Advanced Share Registry had $777,867 in receivables that services had been completed but funds not yet received.
3. Property, plant and equipment to me is the value of physical equipment and assets that Advanced Share Registry uses less any recent depreciation claims. This would include like computer equipment, office desks, chairs over the value of $300 per ATO requirements.

LIABILITIES

1. Trade and other payable's to me refers to the bills that Advanced Share Registry are yet to pay off. 
2. Provisions (current liability)   is the employee annual leave accrual yet to be paid out when they take holidays and then there is the provision for dividend which of my understanding is the employee share dividends yet to be paid to the employees.
3. Provisions (non-current liability) is the long service leave that has accrued for employees or even directors that when they reach 10 years services i think they are then entitled to long service leave pay.

EQUITY

1. Retained Earnings to me is a continuous balance that changes every year when the profit after tax less any dividends paid either adds or takes to this balance. A positive retained earnings means that the company is making a profit and able to pay fully franked dividends to shareholders. 
2. Issued Capital to me refers to the investment into Advanced Share Registry which is normally when shares are raised and owned by investors and even employees. 
3. Reserves to me after reading Note 27 has to do with the employee performance right shares that Advanced Share Registry employees are entitled too and when they are issued shares this reserve balance changes and apparently it is expensed?