This report focuses on the Woolworths group's major financial ratios, accounting quality, and analysis. It also makes financial performance-based suggestions to the company. The main objective of this business report is to evaluate Woolworths Group inventory management and discuss aspects that accountants should consider when developing accounting standards for the organisation. Through this, the company's strengths and shortcomings based on an examination of the 2021 Woolworths annual report, industry statistics, and market data can be identified.