1. What cost flow assumption does the company use to value inventories?
2. What was the amount of expense that the company reported for inventory write-downs during 2011?
3. What amount of raw materials, work in process, and finished goods inventory did the company report at April 30, 2011?
4. How does the approach used by Zetar Plc to values its inventories differ from US GAAP? (You need to go beyond the cost flow assumption used).
5. Which committee of the Board of Directors is responsible for considering management's report on internal controls? (See the Corporate Governance section of the Annual Report)
6. Does the company have an internal audit department?
7. In what section or sections of the balance sheet does Zetar Plc report its bank overdrafts?
8. According to the "Operational Review," what was one reason for the decline in the trading performance of the Snacks Division in 2011 relative to the previous year?
9. According to the notes to the financial statements, how are loans and receivables defined?
10. Using the information in the notes to the financial statements, determine what percentage the provision for impairment of receivables was as a percent of total trade receivables for 2010 and 2011. How did the ratio change from 2010 to 2011, and what does it suggest about the company's receivables?