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Financial Accounting In An Organizational Perspective

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Added on  2019-10-30

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FINANCIAL ACCOUNTING INTRODUCTION 1 Brief of the company 1 Which section dominate 2 Main directors 2 Auditor opinion 3 Sales increased or decreased 4 Cash flow analysis 4 Retained profit 5 Ratio analysis 5 CONCLUSION 7 REFERENCES 8 INTRODUCTION Financial analysis is most crucial for the organization as it helps in knowing the present performance of the entity. Further, in the modern era with the rise in the level of competition in the market, it has become necessary for every business to indulge in the practice of financial

Financial Accounting In An Organizational Perspective

   Added on 2019-10-30

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FINANCIAL ACCOUNTING
Financial Accounting In An Organizational Perspective_1
Table of ContentsINTRODUCTION...........................................................................................................................1Brief of the company...................................................................................................................1Which section dominate..............................................................................................................2Main directors..............................................................................................................................2Auditor opinion............................................................................................................................3Sales increased or decreased........................................................................................................4Cash flow analysis.......................................................................................................................4Retained profit.............................................................................................................................5Ratio analysis...............................................................................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONFinancial analysis is most crucial for the organization as it helps in knowing the presentperformance of the entity. Further, in the modern era with the rise in the level of competition inthe market, it has become necessary for every business to indulge in the practice of financialanalysis such as calculating ratios with the help of which present performance can be comparedwith the past[ CITATION Bai17 \l 1033 ]. The present study carried out is based on WoolworthsLtd where the description of the organization has been provided regarding background, history,etc. Auditor and director report of the organization has been analyzed along with the financialstatements so as to know overall performance. Apart from this, various ratios have beencalculated.Brief of the companyWoolworths group plc is a British firm that owns high street retail chain in the market ofAustralia. The company other owns another type of entities that are book and resourcedistributor, entertainment distributor, etc. Woolworths limited was founded in the year 1924 onSeptember 22 where its key founders are Percy Christmas Stanley Chatterton Cecil Scott WaineGeorge Creed Ernest Williams[ CITATION Woo171 \l 1033 ]. The organization is based in NewSouth Wales, Australia. Further, the key areas served involves Australia, India and New Zealand.The stores through which company operates are popular in every type of market. In the year1955, the first self-service store of the organization was opened with the motive to deliver thehigh experience to the target market. The organization manages some of the most trusted brandsin the Australian market and at present company has more than 28 million satisfied customersworldwide. Woolworths employs 205,000 team members and has trusted partners which involvemanufacturers and local farmers. The company is one of the largest supermarket chains where 995 stores are operatedacross Australia. Company sources 96% of the fresh fruits and vegetables from the farmerspresent in the Australian market. All form of retail products is offered by the organization thatinvolves food, clothes, grocery items, etc. In short, all the items that are used in day to day life ofthe consumers are offered by Woolworths in the market, and this allows business to satisfy theneed of its target market in the proper manner[ CITATION Woo172 \l 1033 ]. Time to time newproducts are added in the existing range of products so that level of brand loyalty can be wellmaintained with the help of this and through this Woolworths can manage its overall1
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performance in the market where overall operations are being carried out. Therefore these aresome of the key insights associated with Woolworths for the year 2016[ CITATION Blo17 \l1033 ]. Which section dominate Considering the annual report of the enterprise it has been found that the financial sectiondominates the entire report Woolworths group has highlighted its financial performanceappropriately so as to deliver the right information to its stakeholders that involve shareholders,customers, supplier, financial institutions, etc[ CITATION Bai17 \l 1033 ]. The Company hasfocused on key areas that involves profit level, dividend per share, earning before interest andtax, sales from different sources such as hotels, drink group, new Zealand group, etc. Group saleshave been highlighted that undertakes the different type of areas such as BIGW, New Zealandfood, hotels, Australian, etc. All these are key areas in which company operates, and they aremanaged appropriately. Group profit and loss account have been reflected in the entire report that considers themain expenses and income sources of the through which it has been known that income level ofthe enterprise is high and firm has control on its major expenses. Generally, for every type ofcompany operating in the market it is necessary to highlight the financial performance properlyfor the benefit of the parties that have the direct interest in the firm. The section of Australianfood and petrol has been highlighted differently with the help of its sales and EBIT. It has beenknown that this section is most important for the business on the basis of the sales level. TheEndeavour drink group and New Zealand food section have also been highlighted separately bythe business[ CITATION Kan13 \l 1033 ]. So, in this way, the financial section of the businessdominates the entire report of the organization and highlights how the organization is performingefficiently in the market. Apart from this, the financial section provides a base for comparisonwhere present performance can be compared with the past. Due to this reason this section is mostcrucial. Main directors The key directors of Woolworths limited are Mr. Bradford Leon Banducci who is CEO ofthe company, Mr. David Paul Marr who is CFO, Mr. Martin Smith who is managing director ofEndeavour drinks and Ms. Claire Peters who is managing director Woolworthssupermarket[ CITATION Woo161 \l 1033 ]. All these directors are indulged into the practice of2
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