HI5020 Corporate Accounting: Virgin Australia Annual Report 2017

This report provides an analysis of the Virgin Australia Group's 2017 annual report, focusing on its financial performance and cash flow statements as required by HI5020 Corporate Accounting. The report highlights the company's progress in building a stronger financial foundation, improving cash flow, reducing debt, and implementing the Better Business program. Key financial results include positive free cash flow, increased cash balance, reduced net debt, and improvements in underlying performance. The analysis also covers the company's strategic initiatives, such as fleet simplification and expansion into growing travel markets. The report acknowledges the impact of subdued trading conditions and restructuring charges on the company's statutory loss but emphasizes the expected benefits from the Better Business program. The assignment also requires an examination of each item reported in the cash flow statement, providing an understanding of each item and discussing any changes over the past year.