Wesfarmers: Overview, Strategic Goals, Financial Management, and Budgeting

This article provides an overview of Wesfarmers, its vision, mission, and values, strategic goals, financial management, and budgeting. It also discusses the role of ACCC, ASIC, and comparative financial statements in the company's performance.

Running Head: WESFARMERS 0
Wesfarmers

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Table of Contents
Answer 1: Introduction..............................................................................................................2
Answer to question 2..................................................................................................................4
Question 3................................................................................................................................17
Question 5................................................................................................................................17
Part A...................................................................................................................................17
Part B....................................................................................................................................17
Part C....................................................................................................................................17
Part D...................................................................................................................................17
Question 6................................................................................................................................20
PART A................................................................................................................................20
PART 4 & 5.............................................................................................................................22
PART B................................................................................................................................22
Manager:..........................................................................................................................22
Topic:...............................................................................................................................22
References................................................................................................................................24

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Answer 1: Introduction
Name of the organization: Wesfarmers
The industry in which the Wesfarmers operates is the chemical and the fertilizers industry
(Wesfarmers, 2018).
Address and the contact details: Perth, Australia
Brief overview: Wesfarmers is basically the Australia’s largest listed company operating in
the diverse areas with the dynamic operations. It covers a wide variety of the services such as
office supplies, renovation of home, departmental stores, industrial divisions and business
and the energy and the chemicals along with the safety of the products. Wesfarmers is one of
the Australia’s largest employment base companies with 100000 employees and has a
shareholder base of approximately 495000 (Wesfarmers, 2018)..
Organization’s Vision, Mission and Values: The primary vision of the Wesfarmers is to
give the shareholders their momentum in the form of the return with the assistance of the
diversified portfolio and exceptional financial discipline.
The mission of the Wesfarmers is to promote the highly focused culture adherence to the four
most critical issues prevailing in the business such as integrity, openness, accountability and
boldness. Further, the mission statement of the Wesfarmers also includes the building of the
customer base and creating the long term value for the future of the Wesfarmers. The
communities are involved in minimising the impact on the environment by reducing the
emission intensity and the improving the resilience to climate change (Wesfarmers, 2018)..
The core values of the Wesfarmers include the inspiring working employees, trust and
challenge and the quality support to its customers, renewing the portfolio through the value
adding transactions (Wesfarmers, 2018)..

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Organisation’s strategic goals:
The main strategic goals of the Wesfarmers are outlined below
 Measuring the Performance
 Capital Efficiency ratios
 Delivering satisfactory returns to the investors and the stakeholders
Organizational chart showing key departments and positions
(Source: Wesfarmers, 2018).
Departmental chart showing key positions and team details

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Answer to question 2
1. The financial system refers to the system, which permits the funds exchange between
moneylenders, depositors, and mortgagors. The Financial systems work at national
level and international level. The financial system contains the difficult, closely
related service, marketplace, and organisations projected to provide the proper and
consistent connection between financiers and depositors (Dymski, Epstein and Pollin,
2016).
Internal factors and external factors have great influence on the financial system.
Owners of business cannot control external factors, but they should be capable to
expect and regulate to these elements to continue the companies on way. Though, the
owner of business and leader do have essential impact over internal elements, which
influence the business.
2. Cost of capital- cost of capital is useful for the company to decide whether the project
is worth the expenditures of means. It involves the cost of equity and cost of debt. It is
called opportunity cost of investing in businesses.
Capital structure- the capital structure is unpaid debt and equity of the company. The
capital structure permits the entity to know which type of funds of the entity uses to
finance whole actions and development.
PURCHASE LOGISTICS TECHNICAL ACCOUNTS
WESFARMERS

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Working capital- Working capital refers to an evaluation of the functional
effectiveness and the short-term economic health of the company. The working
capital shows that entity is capable to pay short-term obligations instantaneously.
3. Financial plan refers to the yearly forecast of incomes and expenditures for the entity,
branch, or section. The financial planning is important as it may also be the projection
of money requires and the decisions on how to advance cash like by issuing or
borrowing extra stakes in the entity (Hayden, 2016). Following steps are
recommended by Commonwealth Bank-
 Calculation of set-up cost
 Projection of profit and loss
 Projection of cash flow
 Projection of balance sheet
 Find Break even point
 Seeking expertise advise
4. There are various methods, which may be used for forecasting the financial data.
These methods are covered into two categories such as qualitative method and
quantitative method. These are as follows-
 Qualitative approach- it relies on the data, which may not really be evaluated.
This method is essential at the early level of products or the entity. The
examples of qualitative approach are time series method and casual method.
 Quantitative approach- historical data may be used as basis for analysis. The
examples are market research, Delphi method, and views of well-informed
person.
5. Role of Australian Competition and Consumer Commission (ACCC)- the main
liability of Australian Competition and Consumer Commission is to make sure that

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people and companies comply with laws, rules and regulations related to the
consumer protection as per the Competition and Consumer Act, 2010. Following are
the main role of Australian Competition and Consumer Commission-
 To give information regarding the liabilities as per the Competition and
Consumer Act, 2010 while creating financial claim involving rendering
direction (Altman and Ward, 2018).
 To make consumers aware in respect of the consumer rights as per
Competition and Consumer Act, 2010
 To make enquiry and take steps in against of business who involve in practice
which breach the Competition and Consumer Act, 2010
Further, the financial management system should be designed with proper
interrelationship between workers, processes, software, and information confined in
the system. Companies must use federal financial management system requirements
in acquisition, pre-acquisition, and application of the new financial management
solution.
6. Following are the management principles to prepare budget-
 Accountable fiscal management-
 Simple line of liability
 Significant financial data
 Constancy in decision making procedure
 Suppleness in short-term issues (Gitman, Juchau and Flanagan, 2015).
 Be conservative not optimistic
 Conference and team work
 Expertise in documentation
 Render training

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 Sign-off
Further, the management principles are so relevant to develop knowledge, guidance
for manager’s training, to make part of management concrete, direct to conduct
research in the management. From the management principles, managers can easily
understand the process to manage the company. These principles help the
management to direct the manager in taking significant decisions (Clark and Wójcik,
2018).
7. Budget is procedure to determine the prospective incomes and expenditures to
rationalise the process of expenditure. This is done to keep track of incomes and
expenditures. It is recommended that every department should make budget
separately and later separate budgets will be combined for the master budget. This
will help to get the budgeted expenditure for period of budget. It is required to give
proper consideration to preparation of sales budget by projecting demand properly. It
is also required that the plans related to capital expenditure must be taken in advance
and further they should be included in the process of budget. Budget helps in making
the capital expenditure plans to run business (Yu, Miao, Shen and Leung, 2015).
8. Debt financing permits the entities to invest without having to obligate personal
capital, however main objective is to increase the value of shareholder. Too much
debt is not so good thing in own finance, however little may go long way. Off balance
sheet financing is the accounting method in which entities record some asset or
liability in the way, which precludes the items from stating in balance sheet. Further,
there are two main methods for equity financing such as public stock offering and
private placement of stock with depositors. The first step is to take decision about
debt financing or equity financing. These techniques help to decide pros and cons of
equity financing and debt financing.

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9. ASIC controls the compliance with financial reporting requirements of the financial
reporting for companies subject to the Corporations Act and renders relief from the
requirements in some situations. The active reviewing of compliance of corporation
with these needs make contribution in direct manner to market honesty and faith of
depositors. The corporations should keep proper financial records but some are
require to make financial report (Brown, 2015). Financial report is required to prepare
for every financial year by-
 The public corporations
 Disclosing corporations made in Australia
 The registered scheme
 Big proprietary entities if any 2 criteria is fulfilled-
- Having more than fifty workers
- Having consolidated gross asset of more than 12.5 dollar million
- Having consolidated gross operating revenue of exceeding twenty five
dollar million
Further, it is also required that financial report should conform with accounting
standards and, rules and regulations with some exceptions. Moreover, the disclosing
entities should make half yearly report. It is required by them to make financial report,
director’s report and have financial report audited and lodge the financial report.
10. The financial statements are very significant for the health and image of the company.
It is very essential to evaluate the financial statements to know the financial position
of the company. There are some methods to analyse the financial statements.
Following are the methods-

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 Ratio analysis and trend analysis- the trend analysis is created to evaluate the
trends in the economic position of the companies. Ratios analysis helps in
showing the increasing and decreasing trends in net profit and gross profit.
 Vertical financial data analysis- as per the vertical financial data analysis,
these statements of a company is analysed individually. This method does not
compare the financial statements of one period (months or quarter) with
financial statements of other period (months or quarters).
 Horizontal financial data analysis- this method contains the financial data as it
modifies from reporting time to other reporting time. The comparison of net
profits or COGS of various period help in defining the growth or development
of the company.
 Forecast the financial statements- this method is very useful in defining the
past happenings and latest happenings. However, this cannot forecast the
upcoming period. It cannot have look over the changing variables.
This methods really helps in achieving the objectives and decide the financial
condition of the company at great extent.
11. The expanding business requires to be closely and prudently managed to make sure
the success of new decision of investment and plans to expand. Though, various
owner-managers search that as the business develops they feel more isolated from the
functions. Comprehensive investment decision-making procedures in the entity decide
how correctly the projects are measured and eventually, how it will be succeed. The
daily decision-taking procedures and investment decision-taking procedures shall
follow the practically same patterns with the exception. The reason is that applying
the tactical plans of company closely narrate to applying the provided project though
one usually leads the others against the financial achievements.

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12. The comparative financial statements are the documents which compare the specific
financial statement with similar financial report made by other entities. Income
statement, cash flow statement, and balance sheet are used by the manager of
company for the comparison. This procedure discloses trend in financials and relates
financial performance of one company to financial performance of other companies.
Comparative financial statement is important tool for future budget and associated
resources. With the help of comparative financial statement, budgeted data can be
compared with actual data (AICPA, 2017).
13. Following are stages to make changes in budget or the financial plans regarding the
short term need and long term needs for the company-
 Access the influences of changes in budget and financial plan- before making
changes in budget and financial planning, it is required to know how much this
would influence the budget.
 Cover the differences- the other stage is to cover the differences. Restricting
the expenditures may be difficult; however, this may assist for the shortfall. If
this stage does not work, then alternative methods are also available.
 Adjusting the major goals- when delaying objectives cannot be ideal, then this
can be most accurate resolution. It is required to keep the setback to the
minimum.
14. Following are the major functions of budget to maximize the organisational
performance-
 Planning- the planning is important function in budget to maximize the
organisational performance. This procedure stops the interest conflicts
between the goals of management and the realities of the ability of the
company. With the help of planned budget, the management may recognise

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the resources, which would be essential to get the aims and decide how the
sources should be applied.
 Evaluation- The information in the operational budget serve as the standards
against that to relate the results of manager and the real results of the business
units. Without these standards, the top-level management will have little but
the historical against which to evaluate the latest results. Though present-to-
past comparison can be stimulating from the past viewpoints, they frequently
render little significant assessment of the performance of entity or the
performance of managers. Assessing the latest performance regarding the
historical performance adopts that the current situation of company and
operating atmosphere are the similar as in the previous period (Becker,
Mahlendorf, Schäffe and Thaten, 2016).
The allocation of resources and procedure of budgeting is one of most useful levels of the
plan. The allocation of resources means the allocation of sources, and particularly finance,
from core to marginal level. The Budgeting states the more detailed purpose of exactly how
the funds are to be utilised.
15. Following are the goals and reasons for financial record keeping system-
 To render the financial information, which assist to run more effectively
 To increase the profitability
 To recognise the business asset, incomes and expenses
 To make comparison between the averages of the divisions
 To focus on the weakness and strength of the company
 To maintain the good relations with the banks and the financial systems

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 To make good records for the financial statements
The particular records the business would require depends on various elements like the kind
of entity, the entity objectives and the management requires. On the basis of the relevant
elements, the accountant may assist to determine what records to maintain and what data they
must rendered.
16. This is very significant to evaluate the management system regarding the legislative
compliance. Entities and organisations must keep the health and protective
management system under assessment, particularly, the manner where the actions are
managed and controlled by the top-level management. It is necessarily required to
comply with legislative process. It is major obligation or main duty of the managers
and the employers to follow the rules and provide secured atmosphere to the
employees of the companies.
17. For the proper use of the budget, it is required to review the budget regularly. It is also
required to make revision in the budget according to the circumstances and
requirements. It is right to say that if the business is expanding and management is
making plan to take entry into the new fields. It is very significant to review the
expenditure area. Following are the information or data that require when reviewing
the budget expenditure-
 Decide how the fixed cost vary from budget
 Examine the variable costs and adjust the variable costs in line with volume of
sales
 Examine the reasons for modifications in relation between sales and cost
 Examine the variations in timings of expenses such as by examining payment
term of dealers.
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19. Budget contingency method- the contingency budget is money, which is set away in
the budget for unforeseen cost. This is common for unanticipated cost to be
anticipated. As such, the contingency budget avoids the difficulty of revising
the budget with each unpredicted costs and submitting again for the support. The
budget contingency method will assist to carry out great risk management procedures
for the business by recognising the main features in management project risk, by
describing the procedure for identifying the project risk, by defining procedure for
examining the risks and by describing the procedure for lessening the risks (De
Marco, Rafele and Thaheem, 2015).
20. Following are the aspects require to consider when documenting and handling
financial risk-
 Accept the risks- this is very good strategy for the small risks, which are not
so effective and required to be documented.
 Avoiding the risks- avoid the risks is good approach for when the corporation
finance teams are busy in making corporate account.
 Transfer the risk- in case of various parties, it is required to transfer the risk
and documenting them.
 Mitigating the risk- qualifying the risk is possibly the common mitigation of
risks under this technique.
 Exploiting the risk- the receipt, rejection, and conversion are great to utilise
while the risks have worst effect on the projects.
21. Following are the factors to magnitude of risks-
 The threat actor which may be internal to the company and external to entity
 The threat type can be accidental, usual and malicious

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 Risks are featured by alterations, worst creation, exposure, improper
utilisation, and unsuccessful implementation
 Risk is characterized by the time (duration, time to make reaction, time to
make detection)
 Risks are featured by assets (individuals, procedures, companies, data and
implementation)
22. Variance- Variance is the evaluation of the supper between numbers in set of data.
The variances evaluate the how far every number in set is from means. The variance
is measured by making the difference between every data set and the means, shaping
the difference for better and positive implementation, and dividing the sum of squares
by the various morals in set of data (Samoradnitsky, 2017).
Variance analysis is normally connected with defining the differences or variances
between actual cost and the standard cost permitted for good outputs. For an instance,
the differences in cost of the material could be separated into a materials price
variance and the materials usage variance. Variance analysis helps the manager to
have the knowledge about the current cost and then to handle the cost of upcoming
period. The calculation of variance shall always be evaluated by accepting the
planned amount or budgeted amount and deducting the projected value. In this way,
the variance analysis helps in deciding whether it is beneficial or not.
23. Following actions are required to be taken for
 Not all variances are bad things, some variances are really be good. So it is
required to analyse the positive variances and negative variances
 Find out the particular reason for the differences.
 It is also required to understand the timings to ask where is the difference

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 Evaluation of the reasons for the variances to ash where is the difference
 Take the necessary actions to reduce the differences
24. ‘Financial documentation is financial record of the financial activities and position of
the business.’
Financial documents are known as financial statements. They are used for
reporting financial data regarding the company, in the consistent format. They involve
the balance sheet, cash flow statement, and income statement. The balance sheet is the
snapshot in period of the financial situation of the business. Financial documents are
good record of activities. The financial documentation are very helpful to evaluate the
financial position of the company. This can help in deciding and solving the issues
effectively (Hudson, 2017).
25. Managing the approved budget is as same as household budget. It is required to have
consultation with the members of the department. It is required to get the knowledge
from the company on the expectation related to budget. The managers are required to
know the process to operate the functions and make the sacrifices. The approved
budget should implemented in effective and proper manner to have good results. The
managers should take advice or help from others if required. The management should
use all economic options in implementing the approved budget. It is also required to
apply the proof of the concepts for the new assignments in case of funds.
26. The cost management is a procedure of planning and managing the budget of the
business.
Objects of cost management-
Following are the objects of the cost management-
 The main objective is to render the clear, constant evaluation objects

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 Render the knowledge and tools to get success
 Have the knowledge about the cost
 To get the excellence in achieving the targets related to performance
 To reduce the difficulties, problems or issues of the companies
 Commitment for the broad based and knowledge-driven participation
 The decisions related to management which make influence on the company
cost
Cost control, cost management, and cost regulation strategy are significant means
of monitoring, reviewing and reporting of the budget with the help of proper costs
management strategy. The significance of Cost control, cost management, and
cost regulation strategies may be defined while making use of the management
approaches

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Question 3
Cash flow budget: the cash flow budget is prepared to understand the utilisation of the
capital in the business and the cash in hand left at the end of the month. The figures of the
cash flow are acquired form the annual report of the Wesfarmers. Also the further
calculations are done on the basis of the assumptions as the monthly data is not available. The
total cash in hand at the March end is $207699 (Zapico-Goñi, 2017).
Profit and loss statement: The profit and loss statement is prepared to calculate the net
profit as well as understand the position of the revenuer and the expenses associated with it.
The profit and loss account of the last quarter indicates the total profit of $34482.
Operating budget: The operating budget is prepared to understand the individual operating
expenses the company is dealing with. Just in case of the Wesfarmers, under the operating
budget the department wise bifurcation is done along with the cost of purchases and the other
expenses.
Sales Budget: A sales budget is prepared to understand the units of the sales budget and the
estimated sales on the basis of such units. Under the sales budget of the Wesfarmers, the
bifurcation of the units of the chemicals and the fertilisers has been taken into consideration.
The total sales are $66594 out of which $33471 belongs to chemical department and $32853
belongs to department of fertilizers (Zapico-Goñi, 2017).
Expense budget: the expense budget is a detailed report of each expense spent on the
monthly basis and at the same time the monthly sales could give the idea of where the
company is spending more. Since, in this case the Wesfarmers are spending more over the
financial costs.

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Aged Accounts summary: The aged summary account lists the unpaid invoices and the
memos lying in the office. This also determines which invoices are due for the payment over
the three categories such as more than 30 days, 60 days and 90 days respectively.
Question 5
Part A
I. The profit generated by the Wesfarmers in the last quarter is $34482.
II. The three months that have highest sales are the months of January, February and March.
III. The two biggest expenses of the Wesfarmers are selling expense and the general expense.
From the above analysis it can be predicted that the company is performing well as it can be
reflected from the sales budget where the ratio of expenses to sales is moderate and remains
consistent between the 24% to 35%. Overall in terms of the net profit the company is earning
a sound margin of the net profit over the period of one year. Moreover the cost of goods sold
has been increased in comparison to the previous quarter and the same shall be controlled by
the management by applying the relevant steps and the remedies.
Part B
Refer to the excel file
Part C
Refer to the excel file
Part D
Proposed budget and Initiatives
After making the budgets and preparing the forecasts it is the duty of the management to
follow the initiatives proposed and make the necessary changes to improve the financial

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performance of the Wesfarmers. The initiatives that the management shall take to improve
the position against the competitors are the cash flow, the operating costs and majorly the
position of the profit and loss of the company (Popovič, 2018).
How can the staff, supervisors and managers access to your budget initiatives? What are the
two locations or methods which can provide easy access to them?
Access to the staff and the supervisors
The management’s hall made the budgets and the initiatives accessible among all the staff
members including the supervisors so that they can understand the present position of the
Wesfarmers and can rethink the ideas that can re elevate the position of the company. The
two locations those are best suitable for the access of the budgets can be the conference or the
meeting room or the central department. The methods that can provide the easy access is the
digital copy that shall be installed on the desktop of each staff and a physical copy to analyse
the things in a better manner (Macnaughton and Medinsky, 2015).
Improvement in cash flow
Cash flows are the important outlook from the perspective of the investors as it depicts the
inflow and the outflow of the cash. The cash flow position of the Wesfarmers is low in case
of the first 6 months as the balance is negative however to improve the same the company
shall limit the discounting to the customers and the debtors, cut out the waste production and
shall increase the price to a suitable level. The cash flow is the core part of any company and
the same shall be maintained on the monthly basis to give an outlook of the inflow and the
outflow of the cash on the monthly basis. The cash in hand shall be not be too short that the

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company is not able to pay the contractual obligations and shall not be too much that the
company needs cannot maintain a credit line (Boudry, Liu, Muhlhofer and Torous, 2017).
Improvement in operating costs
The operating costs have been increased in the last quarter largely in case of the Wesfarmers
and the same needs to be settled down to improve the profit margin of the business. Therefore
the operating costs are directly related to the profits position of the business. To reduce the
operating costs the management shall identify inefficiencies to reduce the cost, pay the
invoices on time, and telecommute to reduce the major expenses (Dubin and McFadden,
2014).
Improvement in profit position
To improve the profits of the business the major change that the company needs to adopt is
the change in the margin of the operating costs. The profit position of the company during the
last quarter of the Wesfarmers is $4446 and in comparison to the remaining quarters the
position of the company is sound. To improve the position the company shall reduce the cost
of goods by 5% in every month and increase the volume of sales by 10% every month. In
order to achieve the fruits of the initiatives the company shall follow this strategy so that the
company can achieve the profits which will exceed the existing profits by $2925 dollars. The
profits that can be forecasted after the initiatives have been taken by the management are
$7371 for the first quarter (Sperling, 2017).
What, and with whom, you need to clarify about the proposed improvements in existing
budget and financial plans processes?

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The clarification regarding the proposed improvements in the existing budget and the
financial plans processes shall be discussed with the preparation of the budget manager and
also with the heads of the department. The managers have the idea with regards to what is the
actual figure and what are the proposed figures and they can give the reasons as to what can
be done in such a case. Furthermore in case of the serious scenarios the CEO shall also be
involved to take care of the large faults and the same shall also be communicated to the head
of the company so that with their analytical expertise they can solve the issue (Lowe and
Tinker, 2015).
What monitoring techniques you will use to determine whether the proposed initiatives have
yielded the desired effects?
In order to identify whether the proposed initiatives and the strategies followed by the
management have yielded the desired effects or not can be observed by the continuous review
and monitoring of the sales and the operating expenses. After making the budgets on the basis
of the estimation the difference can reflect the variances. The techniques that can be used are
the minimum order quantity, the swot analysis, the ratio analysis, the trend analysis whether
the horizontal or the vertical analysis (Zapico-Goñi, 2017).
Question 6
PART A
Technique Type of Information Why
Ratio Analysis Technique Financial information To evaluate the
position of the
company with
respect to the
industry standards

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and the ratio of the
competitors.
Trend Analysis Trends of the income and the balance
sheet
To determine the
changes with respect
to the performance of
the company itself on
the basis of the
previous years.
Cash Flow analysis Inflow and the outflow of the cash To analyse the cash
position of the
business and also to
evaluate the cash in
hand available for the
subsequent liabilities.
What Who Format Why Monitoring
Team 1
Technical
Skills
Technical
Analysts will
be given
support
Training and the
on the job
practical
experience
To cater the
needs of the
company and
to reach the
technical goals
of the
Wesfarmers
Monitor the implication of
the techniques by the
technical analysis.
Team 2
Budget
Preparation
skills
Budget
managers and
forecasters
Fictional budgets
are required to be
made by the
budget manager
To form the
real budgets
and make
forecasts for
the company to
analyse the
future position
of the
company.
Monitor the budgets
prepared by the managers
and the same shall be
reconciled with the help
of the third expert.
Team 3

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Analytical
Skills
Analytical
trainers
The analysts are
given proper
training of how
to review the
financial
statements and
form the report
on the basis of
such analysis.
One such
example is
Auditing
The main
objective of the
auditing is to
find out the
variance in the
actual
statements
prepared by the
management
and
communicate
the same to the
management to
make necessary
and the
appropriate
changes.
Monitor whether the
auditor is complying with
the statutory requirements
or not and following the
necessary standards that
are applicable on the
Wesfarmers company to
give the benefit to the
company against the
competitors.
PART 4 & 5
PART B
Quarterly departmental budget report Quarter: January to
MarchDepartment:
Manager:
Topic: Budget performance summary
Revenue / expenditure
item
Result (V%) Explanation for variance
Cost of Goods Sold Negative Impact
The variance occurred due to increase in
the purchase costs and the freight costs
involved in bringing goods from one
place to another place.
Executive wages and
benefits Positive Impact The impact is positive as it is constant
throughout the year.
Office supplies Moderate Impact
The impact of the office supplies is
moderate yet the management needs to
curb the costs and shall get the supplies at
the low cost.

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Financial costs Negative Impact
The financial costs such as the interest
expense and the cost of the tax are
creating negative impact on the
performance of the company.
Sales Negative impact
The sales of the fertilisers have increased
but at the slow pace and this is the major
reason why the company is not able to
make the profits.
Rate of Chemicals Positive Impact
The rate of the chemicals is almost
consistent and there is not a major
fluctuation in the rates of the
Wesfarmers.
Prepared by: Date:

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References
AICPA, 2017. Statement on Auditing Standards, Number 126: The Auditor's Consideration
of an Entity's Ability to Continue as a Going Concern (No. 126). John Wiley & Sons.
Altman, J. and Ward, S., 2018. Introduction [to] Competition and Consumer Issues for
Indigenous Australians. In Competition and Consumer Issues for Indigenous Australians.
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