Accounting and Finance in Australia

ACCOUNTING AND FINANCE IN
AUSTRALIA

Contents
INTRODUCTION...................................................................................................... 2
TASK 1:.................................................................................................................. 3
TASK 2:.................................................................................................................. 9
CONCLUSION....................................................................................................... 12
BIBLIOGRAPHY..................................................................................................... 13

INTRODUCTION
The two companies chosen are Woolsworth Group and Telstra Group for the purpose of
analysis. Telstra group of companies, popularly known as the TCL (Telstar Corporation
Limited) is an Australian based organization engaged in telecommunication business. The
organisation is witnessed to build such telecommunication networks including mobile
services along with Internet access, television services and similar other products and
services. This is a public listed company traded on both the Australian stock exchange and
the New Zealand stock exchange (Bailey, et al., 2017). Founded 44 years ago, it has its
headquarters in Melbourne named as the Telstra corporate Centre. It serves the country and is
estimated to generate an operating revenue of Australian dollars 6 billion. It has a user
employee base of 32,000 working in the entity including its 150 subsidiaries. It is popularly
known as the country‘s largest mobile service providers. It is also known to hold and
maintain more than 50% of the Australia’s total public phones. This company was the 1st to
launch the digital mobile network in the country. It has also witnessed to provide mobile
telephonic services as the first organisation in Australia. (Anon., 2019)
Woolworths Supermarkets, on the other hand, is a grocery chain store in Australia. It’s
conglomeration along with Coles covers about 4/5 of the total Australian market. This is a
company working as a subsidiary in the retail industry with its headquarters situated in New
South Wales, Australia. Generating an operating revenue of about AUD 56.73 -13824, it
seems to employ a large base of 115,000 management personnel. It is known to sell groceries
including fruit, frozen foods, vegetables, other packaged foods, etc. Recently it has also
witnessed in distributing magazines, beauty related items, Baby supplies, and stationery
related items (Wild, et al., 2015). It is known to own more than 950 stores across the
country apart from working online as well. The organisation said about benchmark last year

in 2018 making a decision to completely ban the use of plastic bags while signing out from
the store. The results were immediate it in three months as a survey revealed 80% downfall in
the use of plastic bags throughout the nation. (Anon., 2019)
TASK 1:
TELSTRA GROUP
PARTICULARS 2019 2018 2017
EQUITY
Share Capital 4447 4428 4421
Reserves -58 -131 -105
Retained
Earnings
10160 10335 9816
Non-controlling Interest -19 -13 19
14530 14619 14151
The trends noticed are as follows:
 Share capital shows an increase every year
 Reserves show no particular trend. AUD 26 Mn reduces it in the year 2018
versus an increase of AUD 73 Mn in the year 2019.
 Like reserves, retained earnings too do not depict any particular pattern. It
initially increases with a further downfall in the year 2019 (Bromwich &
Scapens, 2016).
 On controlling interest shows a downward trend. It decreases by AUD 31 Mn
in the initial year and by AUD 6 Mn in the current year 2019.