PART B: PREACQUISTION ENTERPRISES AND CONDITIONS FOR CONSIDERATION OF DIVIDENDENCE
Added on 2021-06-16
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ContentsEXECUTIVE SUMMARY.................................................................................................................................3INTRODUCTION...........................................................................................................................................4PART A.........................................................................................................................................................5CHOSEN COMPANY INFORMATION.........................................................................................................5QUALITATIVE CHARACTERISTIC...........................................................................................................5PRACTICES ON ENVIRONMENTAL REPORTING....................................................................................6SUFFICIENCY OF DISCLOSURES................................................................................................................7TWO RECOMMENDATION TO TOP MANAGEMENT.................................................................................7PART B.........................................................................................................................................................8RATIONALE OF PREACQUISTION ENTRIES................................................................................................8CONDITIONS FOR CONSIDERATION OF DIVIDEND...................................................................................8PRE ACQUISITION AND POST ACQUISITION DIVIDEND............................................................................9IMPACT OF GOODWILL ON PRE ACQUISITION ENTRIES..........................................................................9REASON FOR ADJUSTMENTS IN SUBSIDIARY ASSETS.............................................................................10CONCLUSION AND RECOMMENDATION...................................................................................................10REFERENCES LIST.......................................................................................................................................10
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EXECUTIVE SUMMARYFinancial reporting not only includes the reporting of financial information but also shows thedifferent non financial factors which can impact the financial results or working of an entity. Thereport has been prepared with an aim to analyze the non financial factors which are reported inannual report of an entity so that different stakeholders can take efficient decisions about theaffairs of the company. The first intention for preparation of report is to assess the qualitativefactors which have been reported in chosen company’s annual report along with disclosures ofdifferent environmental practices required as laws and regulations laid in Australia. The secondpurpose for which the report has been prepared to evaluation the pre acquisition and postacquisition impact of major items like dividend, subsidiary assets on the consolidated financialstatements in business combination agreement. Keeping in view the above stated purpose, thereport has been framed using proper headings and sub headings.
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INTRODUCTIONFinancial reporting which has been done through annual report by the company includesreporting of qualitative and quantitative factors which can impact the workings of the company.Quantitative Factors are generally disclosed in terms of financial figures but qualitative factorsare disclosed in form of polices or procedures adopted by the company in compliance withapplicable laws and statues. The main aim of the study to understand disclosure made to complywith laws in relation to qualitative and environmental factors by chosen company. Another aimfrom the report is to understand the pre and post acquisition entries in relation assets, dividendand Goodwill along with role of subsidiary financials in consolidation process. The report hasbeen prepared in two major parts. The first part is analysis of the annual report of chosencompany in respect of qualitative factors and environmental disclosures as per law. This part alsodescribes the company’s ability in disclosing the information about the company. For this part-Woolworths Limited, a company listed in ASX having business in Retail sector has beenselected. The second part describes about the consolidation process which includes pre and postacquisition analysis of the different items like goodwill and dividend on the financial statements.The report has been prepared using the information available in Annual Report of WoolworthsLimited from the company’s website and other information which are available from reliablesources.
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