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ACCY801 Accounting and Financial Management Assignment

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Accounting and Financial Management (ACCY801)

   

Added on  2020-05-08

ACCY801 Accounting and Financial Management Assignment

   

Accounting and Financial Management (ACCY801)

   Added on 2020-05-08

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ACCY801 Business Report-Trimester 3, 20171
ACCY801 Accounting and Financial Management Assignment_1
ContentsIntroduction......................................................................................................................................3Analysis and Discussion of Annual Report of JB Hi-Fi Limited....................................................3a. Brief Summary of Company....................................................................................................3b. Board of Directors Details.......................................................................................................4c. Assessment on the characteristics of the Board.....................................................................10d. Investment or financing decisions made by JB-Hi-FI Ltd.....................................................11e. Key Recommendations of the ASX CGC IN Table Format..................................................12f. Audit Firm of JB Hi-Fi Limited..............................................................................................13h. Top five investors of JB-Hi-FI and their Ownership Stake...................................................14i. Analyzing the financial statements of JB-Hi-FI Limited........................................................15Conclusion.....................................................................................................................................18References......................................................................................................................................20Appendix........................................................................................................................................222
ACCY801 Accounting and Financial Management Assignment_2
IntroductionThe present report is developed for analysis and examination of the accounting andfinancial environment of a selected organization. This is done to evaluate the implications of thefinancial environment of an organization on the investment decisions of end-users. In thiscontext, the report aims to presents an analysis of annual report of JB Hi-Fi Limited forevaluating its financial planning to support the decision-making process of end-users. The reportfor analyzing the financial position of the company has presented its brief summary describingits details such as industry sector, primary activities and its current performance. The detailsregarding the board of directors emphasizing on its composition, expertise and other informationsuch as gender, age, education, career history and remuneration. In addition to this, it examinesthe financing decisions made by the company and its corporate governance policies. Also, itdiscusses the external audit function of the company in accordance with the ASX corporategovernance. The measures taken by JB Hi-Fi for ensuring its business operations are inaccordance with high level of ethical principles is also discussed in the report. Also, it evaluatesthe ownership stake of JB Hi-Fi and its financial statements through the help of ratio analysis.Analysis and Discussion of Annual Report of JB Hi-Fi Limiteda. Brief Summary of CompanyThe JB Hi-Fi Limited is involved in retailing of home consumer products in Australia andNew Zealand. The company operates in highly competitive retail sector of Australia and hasachieved a recognized position in the sector through retailing of consumer goods such as DVDs,CDs, electronics and home appliances, blue-ray disc, musical instruments and many others. In3
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addition to this, the company is also involved in providing information technology andconsulting services. The company owns about 60 home branded stores out of which four are inNew Zealand and has more than 190 physical retail stores in Australia and New Zealand. Thecompany is recently emphasizing on establishing approx 75 home stores in Australia and NewZealand and as such is largely investing in its supply chain activities and training programs foremployees. This is done by the company to support its plan of business expansion and thussupporting its long-term growth and development plan (JB Hi-Fi, 2017). The company has reported sales of about $3.95 billion in the year 2016 realizing anincrease in sales of about 8.3% as compared to the previous year. In addition to this, the netprofit after tax and earnings per share reported an increase of about 11.5% in the FY 2016 incomparison to the previous year. Also, the total divided also recorded a rise of about 10 per centand gross profit of about 8.4 per cent. The company has achieved a competitive advantage in thehighly competitive retails sector of Australia through reducing its operational costs by 15.2% incomparison to the proviso year. The balance sheet of the company has recorded a growth instrength with decrease in financial and operating leverage. Thus, it can be said that the companypresent financial condition is strong as reported from its recent annual report (JB Hi-Fi limitedAnnual Report, 2016).b. Board of Directors DetailsThe Board of directors of the company holds the major responsibility of promoting long-term value of shareholders. The board holds the composition for ensuring that its membersprovide a range of expertise, skills, diversity and knowledge for promoting the long-term growthof the company (JB Hi-Fi limited Annual Report, 2016). The varying members of the board andtheir details can be explained through the use of a table as follows:4
ACCY801 Accounting and Financial Management Assignment_4
BoardMembersNameGender DesignationEducationCareerHistoryRemunerationGregRichards Male Mr. Richard ispresently workingas Chairman Non-ExecutiveDirector of Board.He is alsochairman of theremunerationcommittee of thecompany and ofthe audit and riskmanagementcommittee. B.Ec (Hons) Mr. Richardbeforejoining thecompany hasworked inthe bankingindustry. Hepossessesover 25 yearsof experiencein thebankingsector andalso workedin GoldmanSachsJBWere formore than 19years beforejoining thecompany.$290,0005
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Mr. Richardahs alsoworked inequity capitalmarkets andis presentlyengaged involuntaryactivities ofservingvarious non-profitcompanies. RichardUechtritzMalePresentlyappointed as anon-executivedirector of thecompany -Mr. Uechtritzhas over 20years ofexperience inretail and isregarded tobe the co-founder ofphoto chainsof RabbitPhoto and$130,0006
ACCY801 Accounting and Financial Management Assignment_6

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