Professional Documents
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Declaration Except where indicated, the work contained in this assignment is my own work and has not
been submitted in another unit or course.
16/10/2020
Date
1.0
Expenses
Administrative expenditure -1,026,865 -1,408,323
Exploration expenditure -2,481,561 -2,287,569
Marketing expenditure -103,587 -58,422
Net realised losses on financial assets at fair value through -
profit or loss -8,770
Exploration assets written-of - -44,186
Foreign exchange gain/(loss) 26,348 -9,543
Other losses - net - -8,292
Other expenses -5,894 -422
Operating Loss -3,591,559 -3,823,912
Expenses
Administrative expenditure -387,357 -1,026,865
Exploration expenditure -3,226,935 -2,481,561
Marketing expenditure -232,762 -103,587
Foreign exchange gain/(loss) 15,286 26,348
Other expenses - -5,894
Operating Loss -3,757,768 -3,591,559
Balance Sheet of Alta Zinc Limited for the financial year 2018-19
30th June 2019 30th June 2018
(Closing Balance) (Opening balance)
$ $
ASSETS
Current Assets
Cash and cash equivalents 2,094,318 2,369,848
Receivables 260,132 599,601
Total Current Assets 2,354,450 2,969,449
LIABILITIES
Current Liabilities
Trade and other payables 448,305 467,000
Capital raising proceeds held in trust - -
Provisions 229,703 223,441
Lease liabilities - -
Total Current Liabilities 678,008 690,441
Non-Current Liabilities
Provisions 23,842 11,235
Total Non-Current Liabilities 23,842 11,235
TOTAL LIABILITIES 701,850 701,676
EQUITY
Equity attributable to equity holders of the parent
Issued capital 40,171,027 38,402,278
Reserves 1,109,561 1,083,548
Accumulated losses -39,001,453 -35,731,595
Balance Sheet of Alta Zinc Limited for the financial year 2019-20
30th June 2020 30th June 2019
(Closing Balance) (Opening balance)
$ $
ASSETS
Current Assets
Cash and cash equivalents 2,261,264 2,094,318
Receivables 355,289 260,132
Total Current Assets 2,616,553 2,354,450
LIABILITIES
Current Liabilities
Trade and other payables 590,509 448,305
Capital raising proceeds held in trust 2,202,149 -
Provisions 231,958 229,703
Lease liabilities 102,446 -
Total Current Liabilities 3,127,062 678,008
Non-Current Liabilities
Provisions 37,993 23,842
Total Non-Current Liabilities 37,993 23,842
TOTAL LIABILITIES 3,165,055 701,850
EQUITY
Equity attributable to equity holders of the parent
Issued capital 41,794,229 40,171,027
Reserves 358,895 1,109,561
Accumulated losses -41,946,341 -39,001,453
Foreign Share
Currency Based
Issued Accumulated Translation Payment
Capital Losses Reserve Reserve Total
30
June
2019 $ $ $ $ $
As at 1 July 2018 38,402,278 -35,731,595 166,954 916,594 3,754,231
Loss for the period - -3,269,858 - - -3,269,858
Other comprehensive
income - - 8,786 - 8,786
Total comprehensive
income/(loss) for the
period - -3,269,858 8,786 - -3,261,072
Transactions with
owners in their capacity
as owners:
Share based payments 1,808,146 - 1,808,146
Transaction costs on
shares issued -39,397 - -39,397
Share based payments - - - 17,227 17,227
At 30 June 2019 40,171,027 -39,001,453 175,740 933,821 2,279,135
30
June
2020
As at 1 July 2019 40,171,027 -39,001,453 175,740 933,821 2,279,135
Change in accounting
policy - -1,763 - - -1,763
40,171,027 -39,003,216 175,740 933,821 2,277,372
Loss for the Period - -3,761,334 - - -3,761,334
Other comprehensive
income - - -11,493 - -11,493
Total comprehensive - -3,761,334 -11,493 - -3,772,827
income/(loss) for the
period
Transactions with
owners in their capacity
as owners:
Shares Issued 1,889,072 - - - 1,889,072
Transaction costs on
shares issued -265,870 - - - -265,870
Reclassification upon
expiry of options - 818,209 - -818,209 -
Share based payments - - 79,036 79,036
At 30 June 2020 41,794,229 -41,946,341 164,247 194,648 206,783
Statement of Cash Flows of Alta Zinc Limited for the financial year 2018-19
30th June
2019 30th June 2018
$ $
Cash Flows from operating activities
Receipts from customers (Inc. GST) - 7,986
Payment to suppliers from employees (Inc. GST) -3,454,016 -4,164,411
Interest received 17,596 6,921
Net refund of IVA 1,387,359 -
Other receipts - -
Net cash flows used in operating activities -2,049,061 -4,149,504
Statement of Cash Flows of Alta Zinc Limited for the financial year 2019-20
30th June
2020 30th June 2019
$ $
Cash Flows from operating activities
Receipts from customers (Inc. GST) - -
Payment to suppliers from employees (Inc. GST) -3,600,506 -3,454,016
Interest received 1,593 17,596
Net refund of IVA - 1,387,359
Other receipts 74,000 -
Net cash flows used in operating activities -3,524,913 -2,049,061
Alta Zinc Limited, established in 1888, is a rising ASX-recorded mineral exploration organization
situated in Italy and Australia. The Company centres on exposure and advancement of zinc and base
metals. Alta Zinc currently serves the zinc market in Italy and Australia. [ CITATION Blo20 \l 2057
].
The company currently has multiple projects, one involves focusing on developing a quite inactive
incentive at the Gorno Project. Gorno is a historical high-grade zinc mine in industrialized Northern
Italy, strategically located close to smelters, a key foundation and with a history of delivering great,
clean materials to European Smelters. [ CITATION Alt20 \l 2057 ].
Other projects include the Punta Corna Cobalt Project in Italy; and in Australia, the Paterson Project
and McArthur River Project.
In the year 2019, this company completely paid ordinary shares the shares were 1,829,884,311 and
in 2018 they were 1,368,965,708 these shares were basically issued. As this group had issued
452,668,603 ordinary completely paid shares at the rate of $0.004 each of cash and shares were
issued for shareholders to purchase more to raise share price around $1.808 million after this not
any other shares were undertaken during the end of financial year 30/06/2019. [ CITATION Lis19 \l
2057 ].
LIABILITIES
Current Liabilities
Trade and other payables 448,305 448,305 0
Capital raising proceeds held in trust - - 0
Provisions 229,703 229,703 0
Lease liabilities - - 0
Total Current Liabilities 678,008 678,008 0
Non-Current Liabilities
Provisions 23,842 23,842 0
Total Non-Current Liabilities 23,842 23,842 0
EQUITY
Equity attributable to equity holders of the
parent
Issued capital 40,171,027 40,171,027 0
Reserves 1,109,561 1,109,561 0
Accumulated losses -39,001,453 -39,001,453 0
Foreign Share
Currency Based
Issued Accumulated Translation Payment
Capital Losses Reserve Reserve Total
30
June
2019 $ $ $ $ $
As at 1 July 2018 38,402,278 -35,731,595 166,954 916,594 3,754,231
Loss for the period - -3,269,858 - - -3,269,858
Other comprehensive
income - - 8,786 - 8,786
Total comprehensive
income/(loss) for the
period - -3,269,858 8,786 - -3,261,072
Transactions with
owners in their capacity
as owners:
Share based payments 1,808,146 - 1,808,146
Transaction costs on
shares issued -39,397 - -39,397
Share based payments - - - 17,227 17,227
At 30 June 2019 40,171,027 -39,001,453 175,740 933,821 2,279,135
30
June
2020
As at 1 July 2019 40,171,027 -39,001,453 175,740 933,821 2,279,135
Change in accounting
policy - -1,763 - - -1,763
40,171,027 -39,003,216 175,740 933,821 2,277,372
Loss for the Period - -3,761,334 - - -3,761,334
Other comprehensive
income - - -11,493 - -11,493
Total comprehensive
income/(loss) for the
period - -3,761,334 -11,493 - -3,772,827
Transactions with
owners in their capacity
as owners:
Shares Issued 1,889,072 - - - 1,889,072
Transaction costs on
shares issued -265,870 - - - -265,870
Reclassification upon
expiry of options - 818,209 - -818,209 -
Share based payments - - 79,036 79,036
At 30 June 2020 41,794,229 -41,946,341 164,247 194,648 206,783
Comparison Analysis:
The published dates for the annual reports are both consistent. A comparison between the
differences in income statements, balance sheets and cash flows for the year ended 30 June 2019 in
the financial year of 2019 and 2020 all show that there are no differences which indicates that there
were no financial errors.
Note: Only figures from 2019 are taken and the differences are calculated by subtracting each 2019
figures of the financial year 2020 from the financial year of 2019.
$
Balance as at 1 July 2019 -39,001,453
Profit/ Loss -3,761,334
Reclassification upon expiry of options 818,209
Closing Balance as at 30 June 2020 -41,946,341
The reconciliation report shows that Alta Zinc Limited has a negative closing balance from the
accumulation of losses within this time period for the year ended 30 June 2020.
References
Alta Zinc Limited. 2020. "Annual Report for year ended 2020." Alta Zinc Limited.
http://clients3.weblink.com.au/pdf/AZI/02285122.pdf.
—. 2019. "Annual Report for the year ended 2019." Alta Zinc Limited.
http://clients3.weblink.com.au/pdf/AZI/02150489.pdf.
Section 2: Short analysis on a CSR related case. (10 marks)
Q2: What corporate social responsibilities do social media companies have in relation to
the use of psychographic profiling in advertising?
1.0 Introduction
The article highlights incidents where personal data has been gathered from social media
companies through the use of psychographic profiling. Through analysis, we can
determine the necessary roles social media companies have to take in order to reduce or
stop these activities due to unethical and/or illegal practices where a user’s private data
can be exposed. This can be improved through Corporate Social Responsibility (CSR),
practiced by companies to achieve societal goals regarded as ethical and ensures they
take responsibility for their economic, environmental and social activities. [CITATION Skr13
\l 2057 ]. A company that complies with CSR is greatly recognised by consumers as a
trustworthy and therefore respected company.
2.0 Analysis
The cases mentioned each show the negative consequences psychographic profiling has on the
consumer but despite this, advertising appeals to promote different products and services.
Psychographics is measured qualitatively to understand the demands of a consumer through their
beliefs, lifestyle choices and desires. [ CITATION Nel04 \l 2057 ]. Using this collection of data, a
consumer’s psychographic profile is created in order to determine what specific target market
category they fall under. [CITATION CBI \l 2057 ]. These help to cater advertisements to a
consumer’s wants however the advertiser should not be involved with unethical behaviour and
should show the respect that the consumer deserves. The consumer has the right to decide what
products or services to buy given that the advertising agency has given them enough information to
make an informed decision. This moral impact will greatly promote an ethical and responsible
company giving them a competitive advantage and knowledge that they can be trustworthy.
3.0 Conclusion
To conclude, a company that acts in an ethical manner to uphold the privacy of its consumers would
not be under scrutiny. They have an ethical obligation to ensure that consumers are treated fairly
and their private information is respected. It is difficult to determine exactly how far advertising
agencies can go to gather information for the use of psychographic profiling as it is required to
analyse trends in consumer behaviour, but we hope to see that this can be resolved in the future with
improved security measures and possible regulations set to ensure consumers feel safe and
companies able to gather sensible data for research.
References
Nelson, Michelle, Heejo Keum, and Ronald Yaros. 2004. "Advertainment or Adcreep Game Players'
Attitudes toward advertising and product placements in computer games." Journal of
Interactive Advertising 3-21.
CB Insights. 2020. What is Psychographics? Understanding the Tech that Threatens Elections.
https://www.cbinsights.com/research/what-ispsychographics/.