Accounting and Financial Management Report: Westpac Group Analysis

This report provides a comprehensive analysis of Westpac Group's accounting and financial management practices. It examines the impact of social and environmental factors on the organization, particularly focusing on climate change and its implications. The report delves into Westpac's responses to these challenges, including its strategies for managing climate-related risks and promoting sustainable practices. It also assesses the challenges Westpac faces in adhering to GRI reporting standards and offers insights into the company's cost management strategies. The analysis covers various aspects such as the impact of technology, environmental sustainability, human resource strategy, and stakeholder interests. The report emphasizes the importance of attracting potential stakeholders and enhancing overall financial performance through effective management and strategic decision-making. Furthermore, the report touches upon the types of costs associated with the business and the factors of production involved. This analysis highlights the need for sustainable practices and the integration of environmental and social considerations into financial decision-making processes.

Running head: ACCOUNTING AND FINANCIAL MANAGEMENT
ACCOUNTING AND FINANCIAL MANAGEMENT
Name of the student:
Name of the university:
Author Note:

ACCOUNTING AND FINANCIAL MANAGEMENT 1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Part A- Critical Analysis........................................................................................................2
In response to Question 1...................................................................................................2
In Response to Question 2..................................................................................................4
In response to Question 3...................................................................................................5
In response to question 4....................................................................................................5
Part - B...................................................................................................................................6
In response to Question 1...................................................................................................6
In response to Question 2...................................................................................................7
In response to question 3....................................................................................................8
In Response to Question 4..................................................................................................9
Conclusion................................................................................................................................10
References................................................................................................................................11

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Introduction
The assignment pacts with the writing of the selected organization which is the
Westpac group which is Australian Banking and financial service providing organization. In
this study, the optimistic and bad impact on the organization due to the impact on the social
and environmental factors are depicted based on the current entity operation of the
organization. The quality and depth in the social and environmental aspects which creates
major influence on the overall performance of the firm. There are certain challenges which is
faced by the firm at the time of the GRI or rather the reporting standards. GRI are basically
regarded as the global best practices on a particular range of the social and environmental
aspects which takes place in the entity of the organization. The strategies must be adopted by
the organization to strengthen the overall entity performance of the organization in terms of
attracting the potential shareholders in the organization.
Discussion
Part A- Critical Analysis
In response to Question 1
The critical aspects are further related to the climate change which took place in the
strategic position of the management system of the organization. There is certain action
which is needed to be taken by the organization at the time climate change which are related
to provide finance, support entity in order to manage the climate related problem, records of
the individuals which are related to the climate change and many more. Further the policies
must be advocated based on the investment in the climate change solution. This are the basic
actions which is falls under the core principles of the actions which is taken by the
organization in that case. The risk also falls under the principles of the climate change which
is needed to be elevated by the organization in some of the significant areas (Finkler, Smith
& Calabrese, 2018). One of the most complementary goals, which falls under the objective of
the organization, is about the overall economic growth and the reduction in the emission of

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the chemicals from the industry. The climate changes in that case further creates the financial
opportunities which are associated with the entity along with the model of the business.
The risk, which is associated with the climate change further, creates impact on the
financial performance of the companies and stability involved in the financial system of the
entity. Westpac on the other hand is trying to implement the affordable technologies which is
needed by the organization to make more sustainable economic model which is involved in
this situation. There are about few of the negative entity aspects needed to be taken care of by
the management basically related to the climate change which will definitely create impact on
the financial aspects of the organization. And there are some of the positive aspects in the
entity which is basically related to the set of agenda related to the responsible banking and
meaningful social progress. The positive impact in this case includes the financial backing
and the banking services which creates impact on the meaningful social progress of the
organization. The main aim of Westpac is to promote the effective movement across the
financial and the banking sectors of the organization (Kaplan, & Atkinson, 2015).
The change in the climatic condition will create impact on the technological factors
which are involved in that case. Technology in recent years has been constantly increasing
based on the certain policies and technical entity aspects. Climate change affects the entity
prospects of the organization along with the globalization which takes place within the entity
of the organization. The cost which is further included in the operations of the organization
plays significant role in the entity. It is quite significant for the business of Westpac to
alleviate implementation of those resources comes to great use in the environment (Mi, Z.,
Zhang, 2016).
The change in the environmental factors puts impact on the ecological balance which
further involves the certain major causes which are the ecological product, emission of green
is really important in order to meet the ecological balance in the society. The decisions in the
entity are rather taken based on the significant entity parameters along with the other aspects
which are associated with it. There are quite few social and environmental performance
parameters in the entity of the organization.
The environmental factors in that case must be identified along with the potential
threats which are involved with the business. The pollution must be taken care of and the
other aspects which are associated with it. For the betterment of the ecological and the green
products it is quite significant for the business to address such kind of changes and taking the

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necessary actions accordingly. The operations in the system of Westpac must be ensure that
the company follows the environmental sustainability and other business aspects along with
it.
In Response to Question 2
The social and environmental aspects of Westpac is based on certain rules and
regulations. The key determination of the organization is particularly based on the certain
factors which the organization needs to focus on the overall human resource strategy and the
other factors which are associated with it. It is quite significant for the organization to
maintain the interest of the stakeholders of the organization along with the other issues which
are associated with it (Hoyle, Schaefer & Doupnik, 2015). The environment and the social
factors of the organization creates issues on the revolutionary strategy which is involved in
this case. The performance of the employees in that case is also affected pin that case where
the organization needs to identify the major loopholes in the system along with the other
aspects which are involved with it.
The social and environmental factors create impact on the entity aspects of the
customers and the communities those are inclined with the policies of the entity. The
customers in the entity plays the major role in the entity prospects of the organization. On the
other hand, the potential suppliers of the raw material are also aware about the situation
which takes place in the entity prospects of the organization based on the long-term entity of
the firm. There are certain risk, related with the entity and it falls under the management
system of the organization to obey with the norms involved in such a situation case
(Camilleri & Camilleri, 2017). There are certain factors which are internal and external
oriented and must be taken care of by the sustainable management system which is further
complied with the potential principles and norms. The products which are produced by the
Westpac group must ensure that the manufacturing of the products is eco-friendly in nature.

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Based on the limits of the business it is quite important for the entity to care of the possible
fluctuations in the system.
The Westpac group focuses on the potential investment in order to boost the overall
productivity of the business along with the other factors involved with it. The main objective
of the business to grab the attention of the potential stakeholders in the organization for the
purpose of enhancing the various factors which are associated with it. The most significant
changes which actually take place is related to the social factors which are involved with the
business. Adopting changes will further help the directors of the company with the highest
shares in the business to take the organization to the next level (Caruana et al., 2019).
In response to Question 3
The hitches, which is faced by the secure at the time of GRI reporting standard, is
portrayed in the conducted study. The economic growth in that case must be identified and
act accordingly despite of the significant challenges faced by the GRI reporting standards.
The various sectors which are included in this case are the environmental, economic and the
social factors which are involved accordingly. The main purpose of the business stakeholders
must be considered and based on that significant strategy must be adopted by the company.
The community of the GRI further coordinated with the Westpac group of Australia and the
practice which is conducted towards the ASEAN region. While providing services in this
sectors it is needed to identify the key risk takes place within the system of the business
(Duska, Duska & Kury, 2018). The reporters in that case must identify the possible weakness
in the system of the business and must act accordingly. The framework which is used in the
GRI is complied with certain tools and techniques used in this case along with the impact on
the shareholders wealth in the business. The business prospects of the company are quite
challenging and further changes in the system of the corporation must be taken into
deliberation.

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In response to question 4
The main purpose behind the initiative of the GRI reporting is to adopt the potential
techniques and tools involved in such a situation. Each and every business objective is to
attract the potential stakeholders in the organization along with the other factors which are
involved with it. The sustainability in the system must be taken into consideration based on
the norms in such a case. The awareness in that case must be identified and in case of the
changes it is quite serious that the weakness in the system may cause any harm during the
process. The techniques in that case must be adopted by the company along with the other
benefits of the organization. The benefits in that case creates impact on the operational
process which is conducted in the business which is evaluated with the process of the long
term benefits associated in that case. The momentum in the business must be enhanced which
will automatically drive away the overall financial enactment of the company. The
stakeholder’s aspects in the business and the point of view on behalf of the same operational
purpose (Lara, Osma & Penalva, 2016). The implementation of the technique in this case are
further based on the significant aspects of the business with the other business aspects related
to it.
Part - B
In response to Question 1
There are numerous types of cost which are related with the business which are the
fixed and variable cost associated with the business. The parameters are further related to the
organizational aspects of the business along with the other producing or manufacturing
capacity in the business. The factor of production further includes the land, labour, capital
and organization are the four main components used in business.

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The cost of production of the organization is wholly trusted based on the other factors
of production, which are the land, labour, capital, and organization. It is quite vital for the
organization to select the type of production along with the volume which is utilized in the
production process of the organization. The system in organization must be taken into
consideration along with the organizational aspects related to the long-term goals in the
business (Libby, 2017).
Based on the actual production capacity of the business it is quite significant for the
upper level management system of the organization to take care of the significant changes in
the business. The evaluation is certainly based on the factors related to the other business
purposes of the firm. The principles in the accounting concept of the firm must be identified
by the board of directors of the company.
In response to Question 2
The balance scorecard of the business is basically based on four parameters which are
the financial perspective, learning and growth, customers and internal business process. There
are actually certain tools which are involved in this case which are the profit margin,
improved cash flow in the business, net interest margin and the potential revenue mix

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involved in this case. The organizational situation must be identified by the top level
management system and the relevant decision which is further based on the significant
aspects in the business. The management must forecast the financial situation based on the
past presentation of the company (Hoque, 2018). The organization along with significant
financial manipulation must be considered and the glitches must be removed by the
management system by identifying it. The customer related facts which are actually involved
in this case are related to provide high quality to the customers and the loyalty which is
further involved in the business process. It is important for the business to understand the
taste and preferences of the customers and acting on the basis of it. The business must
comply with the main changes involved in the business along with the other potential factors
which are involved with it. The organization in that case must adopt some of the significant
tactic in order to maintain the customer’s base and act accordingly.
The growth enhancements on the other side suggest the critical skills and knowledge
which must be provided to the employees of the organization. The training process is actually
based on the certain aspects which is needed to be exercised in order to enhance the overall
business performance of the company based on the long-term aspects.
In response to question 3
The break-even analysis of the organization actually provides the situation when there
is no profit or loss in the business. Each and every company tries to accomplish the
breakeven in order to accomplish the major objectives undertaken by the business. The
management system of the concern must adopt the potential business change in order to
enhance the overall business prospects based on the long-term objective of the firm (Zietlow
et al., 2018). The entity further concentrates on the other factors along with the strategic or
rather the decision-making changes in the business of the company.

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In Response to Question 4

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20 30 40 50 60 70 80
$-
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
Break Even Point
Revenue Fixed Total Expenses
 The breakeven point regarding the number of unit which is 24 unit means the
company will achieved no profit or loss situation in the business at 24 unit of output.
 The profit of the organization after reaching the breakeven point is about $ 2250 after
reaching the breakeven point in the business.
Conclusion
The ultimate conclusion which is drawn in this case are regarding the two chosen
companies which are the Jerry Pvt ltd and the other one is the Westpac ltd. It is quite the
responsibility for the board of directors of the organization to take the necessary action based
on the current and the past business objectives of the organization. This situation on the other
hand is needed to be taken into consideration by the management system of the organization
along with that it is needed to further ensure that the management level skills of the
organization is effective and efficient.

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Valuation and Risk Management. Routledge.
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Sustainability of Public Sector Entities: The Relevance of Accounting Frameworks.
Springer.
Duska, R. F., Duska, B. S., & Kury, K. W. (2018). Accounting ethics. Wiley-Blackwell.
Finkler, S. A., Smith, D. L., & Calabrese, T. D. (2018). Financial management for public,
health, and not-for-profit organizations. CQ Press.
Hoque, Z. (2018). Methodological issues in accounting research. Spiramus Press Ltd.
Hoyle, J. B., Schaefer, T., & Doupnik, T. (2015). Advanced accounting. McGraw Hill.
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Wiley & Sons.
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investment efficiency. Journal of Accounting and Economics, 61(1), 221-238.
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