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Wesfarmers Analysis

This assignment requires students to locate the Annual Report for a selected Australian retail company and analyze its financial statements and notes to the financial statements.

12 Pages850 Words55 Views
   

Added on  2023-04-23

Wesfarmers Analysis

This assignment requires students to locate the Annual Report for a selected Australian retail company and analyze its financial statements and notes to the financial statements.

   Added on 2023-04-23

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Wesfarmers
Analysis
Wesfarmers Analysis_1
Wesfarmers
Founded in the year 1914.
Involved in the business of chemical
fertilizers, coal mining, industrial and safety
products
The areas the company is currently serving
are Australia, India, United Kingdom, New
Zealand and Ireland (Wesfarmers, 2018) .
The current revenue of the company is
A$4.40 billion
The team is of 223000 employees
Wesfarmers Analysis_2
Revenue Recognition Policy
Revenue is generally accepted accounting
principle which represents the specific or
the particular conditions where the
company uses it to account according to
the different situations (Kilroy and
Schneider, 2017).
Revenue: At fair value
Criteria followed: Rules under sales of
goods, interest, dividends, rent from
operating lease.
Wesfarmers Analysis_3
Valuation of Plant property
and Equipment
The plant property and the equipment
are valued at cost of the asset or say
market value.
The fixed assets are depreciated on the
straight line method.
The expenses on the mining are
amortized over the life of mine
(Campbell, 2017).
Wesfarmers Analysis_4

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