Company's Annual Report - Doc.

Running head: COMPANY’S ANNUAL REPORT
Company’s annual report
Name of the Student
Name of the University
Author Note

COMPANY’S ANNUAL REPORT
Table of Contents
Part A:........................................................................................................................................1
Answer to question 1:.................................................................................................................1
Answer to question 2:.................................................................................................................2
Answer to question 3:.................................................................................................................2
Answer to question 4:.................................................................................................................2
Answer to question 5:.................................................................................................................3
Part B:.........................................................................................................................................3
Answer to question 1:.................................................................................................................3
Requirement A:..........................................................................................................................3
Requirement B:..........................................................................................................................3
Requirement C:..........................................................................................................................4
Requirement D:..........................................................................................................................4
Requirement E:...........................................................................................................................4
Requirement F:...........................................................................................................................5
References list:...........................................................................................................................5

COMPANY’S ANNUAL REPORT
Part A:
Answer to question 1:
The principal activity of Myer Group during the current financial period was the
operation of business of department store.
Answer to question 2:
Recognition of revenue is done by the group when the obligation of performance
relating to particular transaction is fulfilled by the group and the gift card is redeemed by the
customers. In addition to this, any unredeemed value of reward card and gift cards is
recognized by the group as non-redemption income. The non-redemption amount is
recognized as by the group as revenue proportion to the pattern of utilization of the reward or
gift card by the customers. Myer uses effective interest method for recognizing the revenue
from interest on time proportion basis. Recognition criteria of revenue is mentioned in the
notes to the financial statement on page number 55 (Investor.myer.com.au 2020).
Answer to question 3:
Valuation of plant, equipment and property is done cost by deducting the amount of
depreciation charged. Buildings, fixtures and fittings and equipment and plant is depreciated
and depreciation is charged on land. Information on valuation is mentioned in note C1 of
property, plant and equipment on page number 60 (Investor.myer.com.au 2020).
Answer to question 4:
Financial statements of Myer Group is audited by Pwc (PricewaterhouseCooper).
Declaration of auditors about their independence provides assurance of the fact that their
opinion of audit performed has not been influenced by any other party or by the management