This report provides a comprehensive analysis of Wesfarmers' financial reporting practices, strategic approach, and budgeting processes. It delves into the company's competitive strategies, including the focus strategy, and examines the application of the balance scorecard and strategy map. The report also explores Wesfarmers' sustainability reporting, emphasizing its commitment to environmental and community impact principles, and discusses the integration of these principles into the company's overall value creation. Furthermore, it includes an overview of Wesfarmers' budgeting, presenting a budgeted income statement for 2016 and conducting a variance analysis to assess the company's financial performance and strategic alignment. The analysis covers areas such as revenue generation, cost management, and the impact of various expenses on the company's profitability, providing insights into Wesfarmers' financial health and strategic direction.