Oroton

Added on 2019-10-30

12 Pages1898 Words87 Views

RUNNING HEAD: FINANCIAL ACCOUNTINGFINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING1ContentsOROTON..............................................................................................................................................21.........................................................................................................................................................22.........................................................................................................................................................33.........................................................................................................................................................34.........................................................................................................................................................55.........................................................................................................................................................66.........................................................................................................................................................77.........................................................................................................................................................78.........................................................................................................................................................7Conclusion.......................................................................................................................................11References.......................................................................................................................................12

FINANCIAL ACCOUNTING2OROTON1.Oroton is founded in 1938 by Boyd Lane. The Oroton has originated from the latin word which is ‘oro’ meaning is ‘gold’ and ‘ton’ meaning is ‘a tonne of gold and fortune’.History and Background: Oroton is an Australian Company dealing in the finest quality of iconic sixties and seventies gold and silver women accessories. The company is based in Sydney, Australia.In 1938, Body Lane has started a textile design company imports finest quality of textiles from Europe. Further in 1951, Oroton became the most luxurious and elegant brand for women in fashion world (Oroton, 2017). In 1987, the Oroton Group became listed in ASX. Later in 2000, it has expanded its collection of sunglasses and optical eyewear. In 2006, it has launched its online channel named oroton.com. In today’s world, Oroton has evolved to be the most loved brands. Thus, it became the leading luxury lifestyle brand in Australia. It has broadened its horizon in New Zealand, Hong Kong, Malaysia and Singapore (Oroton, 2017).Principal Activities:Retailing and wholesaling of leather goods.Fashion Apparel and fashion Accessories.The products Oroton Group deal in are as follows:a.Bags (includes Backpacks, Totes, Pouches, Satchels, Briefcases etc.).b. Accessories (includes Belts, mirrors, keyrings, Scarves, Sunglasses etc.).c. Watchesd. Wallets

FINANCIAL ACCOUNTING3e. Fragrances f.JewelleryRetailing of fashion label under GAP LabelLicensing of Oroton Brand Name (Annual report, 2016).The fiscal year under review is 30 July 2016.2.Looking at the contents page, section of ‘Statement of financial position’ and ‘Independent auditors report’ dominates the report (Annual report, 2016). 3.Directors:S. No.NameComment1.John P SchmollTitle: ChairmanExpertise and Experience: He was retired as a CFO in Coles Myer Ltd.Prior to this, he was a senior professional in Arthur Young andEdgars Stores Ltd which is the largest apparel and homeware retailer in Australia and South Africa.He is currently non-executive director in Patties Foods Ltd.In Oroton Group, he is a member of Audit Committee and people

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