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Board composition Assignment PDF

   

Added on  2021-06-15

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PART A – BOARD COMPOSITION(1)The annual report of the company provides that there are six independent directors. Asper the listing rules, the listed company is required to appoint the independent directorson the board. These are: -Jillian Broadbent-Holly Kramer-Siobhan Mckenna-Scott Perkins-Kathryn Tesija-Michael Ullmer (Woolworths Limited, 2017)(2) The number of directors consisting male gender is two and the number of directors offemale gender is four. Following is the qualification and the experience of these threedirectors:-Jillian Broadbent – She has completed his bachelor’s in the subject of Mathematicsand Economics. She has the great experience in the finance and banking areas. -Holly Kramer – She has done bachelor of art honors and completed masters inbusiness administration. She has the vast experience in the field of sales andmarketing. -Siobhan Mckenna – She has completed his bachelor’s in the subject of electronicsand has completed M Phil. With this study, she has the vast experience in making thepublic policy in the area of digital and media. (3)Yes the above directors are on the other boards. These are:-Jillian Broadbent - She has primarily associated with the Bankers trust of Australia.She has been the chancellor of the University of Wollongong and director of CocaCola Amatil, Qantas Airways and has also been the member of Reserve Bank ofAustralia. -Holly Kramer - She has been chief executive officer of Best and Less and director ofNine Entertainment Corporation.

-Siobhan Mckenna - She has been the director of Amcil and Ten Network Holdingsand also has been the Commissioner of Productivity Commission of Australia. (4) In annual report of the company, two disclosures have been made regarding thesubsidiaries. Wholly owned subsidiaries that have entered into deed of cross guaranteeare seventy subsidiaries and the subsidiaries which are not wholly owned and have thematerial non controlling interest are three. There are two associates of company. (5)As per note number 4.6 of the annual report of the company, the borrowing cost is equalto the net carrying amount of borrowing which is net of the unamortized borrowings andamounts to 2261.70 million dollars. Effective interest as per the annual report is 6.26%(Woolworths Limited, 2017).(6)It is one of the largest companies in retail sector and has been into existence since 1924and has been regular in the compliance. REFERENCESWoolworths Limited, (2017), “Annual Report 2017” available onhttps://www.woolworths.com.au/ accessed on 15-05-2018.PART B – REPORTContentsEXECUTIVE SUMMARY.................................................................................................................................3INTRODUCTION...........................................................................................................................................3PROFITABILITY AND STABILITY.....................................................................................................................4DIVIDEND PAYMENTS AND GROWTH..........................................................................................................4OPPORTUNITIES FOR FUTURE GROWTH.....................................................................................................4CHALLENGES AND PLANS TO DEAL..............................................................................................................5CONTRIBUTION TO SOCIETY AND ENVIRONMENT......................................................................................5FUTURE ESTIMATION..................................................................................................................................5

CLASSIFICATION OF EXPENSES....................................................................................................................5QUALITY OF SALES AND NET INCOME.........................................................................................................6FINANCIAL DISTRESS....................................................................................................................................6CONCLUSION AND RECOMMENDATION.....................................................................................................6REFERENCES................................................................................................................................................6EXECUTIVE SUMMARYThe annual report of every company describes the financial position and the financialperformance of the company. It details not only the financial information but also provides as towhat strategies the company has adopted and will adopt in the future so as to meet out thechallenges of the market. The report has four basic aims. The first main aim is to understand thefunctioning of the company with regard to its profitability and the stability that the company hasbeen able to achieve since its formation. The second major aim of the report is to understandwhether the company has been discussing as to how the company will prosper and continue inthe future in this challenging environment. The third aim is to ascertain the impact on the societyand the environment of the working of the company. The last major aim of the report is toascertain the financial statements to provide the detail about the quality of the net income and theposition of the cash flows in the company. With these aims and the considerations, the report hasbeen prepared with the appropriate headings and the data has been majorly collected from theofficial website of the company and other reliable sources. INTRODUCTIONThe financial statements of the company shall be prepared in the correct and accurate manner. Itis because on the premise of the financial health and financial performance of concern, theinvestors and other stakeholders put their money in the company in order to have the higherreturns and the benefits in future. The financial statements are embedded in the annual report ofthe company and that also contains the director’s report, remuneration report and independentauditors report. In this report, the annual report of the company – Woolworths Limited will beanalysed in detail. At first the financial profitability and the stability of the company will be

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