Part A Analytical Review of Webjet limited FY20– Areaof Concern IdentifiedAnalytical review is one ofaudit techniquethat used to assessthereasonableness of accounts balance, amounts, and transactions thatreport in thefinancial statements(Analytical review on FinancialStatements | WIKIACCOUNTING, 2021).Looking at the financial statements of Webjet limited FY2020:(Cmsmedia.webjetlimited.com. 2021.)Webjet limited was following outstanding profitable growth in FY19 andrecorded report of good earnings in 1H20 driven by the internationalstrategy of WebBeds. WebBeds was taking the opportunity to developas one of the leading B2B player, unfortunately like all the travelcompanies’ world COVID pandemic had devastating Impact on thebusiness. The second half of the year was expected to give the result ofnominal revenue as the travel restrictions, domestic and internationalborder closures and health concerns led to a material fall in TTV andbookings in all Webjet’s business.Prior to COVID-19, WebBeds was the fastest growing B2B player in theworld and had cemented itself as the clear #2 global player. COVID-19pandemic which resulted in nominal revenues in all businesses frommid-March 2020. As a result, TTV for the year was $3.02 billion, down21% compared to FY19, revenues were $266.1 million (down 27%) andEBITDA was $26.4 million (down 80%) (Cmsmedia.webjetlimited.com.2021.).Webjet limited was expecting a great improvement on its revenues andprofits due to the growing impacts of WebBeds strategy but reportedamounts shows that due to the world COVID 19 pandemic the companysuffered downfall in revenues, TTV and EBITDA by 21, 27 and 80percentage also had to initiate cost reductions measure within the year2020. Comparing the Webjet limited financial statements with the previousyears, the world Pandemic has caused a devastating result for thecompany as it being one of the travel companies.Webjet is well placed

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