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Financial Statement Analysis Assignment : WOOLWORTHS LIMITED

   

Added on  2021-05-31

13 Pages2871 Words83 Views
WOOLWORTHS LIMITEDANALYSIS OF FINANCIALSTATEMENTS AND ITSCOMPONENTSStudent Name: Student ID:

Table of ContentsEXECUTIVE SUMMARY.................................................................................................................................3INTRODUCTION...........................................................................................................................................4CHOSEN COMPANY DETAIL.........................................................................................................................5CASH FLOW STATEMENT AND ITS ANALYSIS...............................................................................................5Item bifurcation.......................................................................................................................................5Comparison of board categories.............................................................................................................7OTHER COMPREHENSIVE INCOME STATEMENT AND ITS ANALYSIS............................................................8ITEMS DESCRIBE IN STATEMENT.............................................................................................................8Detailed description of every item..........................................................................................................9Reasons for not reporting in Statement of Profit or Loss......................................................................10CORPORATE INCOME TAX AND ITS ANALYSIS...........................................................................................10Tax Expense for Current Year................................................................................................................10Accounting Income and tax effect.........................................................................................................11Deferred Tax – Assets and Liabilities.....................................................................................................11Income tax – Payable and Expense........................................................................................................12Income Tax – Expense and Paid.............................................................................................................12Tax Treatment - Rating..........................................................................................................................12CONCLUSION AND RECOMMENDATION...................................................................................................12REFERENCES..............................................................................................................................................13

EXECUTIVE SUMMARYFinancial Statement and their analysis is base for users of financial statements which helps indecision making. The report has been prepared with an intention to analyze financial statementsand their part so that better decision making can happen. The major aim for which the report hasbeen prepared to understand the different items reported in Cash Flow statements and OtherComprehensive Income statement of Company. The report also helps in understanding theaccounting treatment of corporation tax in financial accounting and their required disclosures astaxes have major impact on decision making process. With theses intention, study has beenconducted in appropriate manner.

INTRODUCTIONThe title of the report – Analysis of Financial Statements suggests its purpose of preparation. Thestudy has been done to analyze the different of different statements which are part of financialstatements of company. The study has been prepared to assess the Cash Flow Statements andOther Comprehensive Income Statement of chosen company. The report has been prepared inmajor three parts. The first describes each item which has been reported in cash flow statementof reported company along with comparison of each item of cash flow over past three years forchosen company. The second part helps in understanding the components of OtherComprehensive Income Statement and their exclusion from Profit and Loss account for chosencompany. The third part explains the concept f corporation tax and its treatment in accountingbooks by the company and its management. The report has been ended with properrecommendation and conclusion. For the purpose of report, Woolworths Limited has beenselected, a company registered in Australia and listed in ASX. The study has been prepared usingthe Annual Reports available on the company’s website along with other information availablethrough reliable sources.

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