Refer to the consolidated financial statements and their notes in the latest financial report of JB Hi-Fi Limited on its website, www.jbhifi.com.au, and answer the following questions.

1.    Were any items of property, plant and equipment revalued by the entity during the current financial year? During previous years? If so, give details.

2.    Were any items of property, plant and equipment derecognised during the year? If so, how has the entity disclosed any gains or losses made on derecognition of such assets? Provide details of any financial amounts involved.

3.    From the latest statement of financial position (balance sheet), provide details of the types and amounts of assets regarded by JB Hi-Fi Limited as ‘intangible’. What accounting treatment is adopted in accounting for the acquisition of goodwill?

4.    Have there been any instances where the group’s non-current assets were revalued upwards/downwards? If so, provide details.