The case study about evaluation of the company' annual report . the company is (WOODSIDE PETROLEUM ) ..and annual report of the company should be 2013 i want you to answer these questions: 6. Identify potential questionable accounting numbers 7. Attempt where possible to undo distortions in the numbers provided using footnote disclosures and other information in the annual report 8. Summarise any financial press discussion of the company’s performance and accounting numbers.
Requirements of the Case Study
In week 4, students will be allocated an Australian listed company, and allocated to a syndicate of 5 people. Each syndicate is required to download the company’s latest available full-year financial statements and complete an accounting analysis.
Each syndicate is to present its findings to the class and submit a report to the class lecturer in weeks 13 and14.
Evaluation of case study
Students are required to address the following issues.
1. Provide a brief summary of the company’s activities and its strategies as outlined in the annual report and any other sources considered relevant.
2. Background information: (a) Identify the key accounting policies relevant to the company’s success or lack of it; (b) Identify the accounting standards and rules which apply in respect of these accounting policies
3. Evaluate the flexibility management has available in selecting the key accounting policies
4. Evaluate the accounting strategy employed by management in respect of each key accounting policy and suggest/identify possible incentives behind the choice of strategy. Remember that this is an accounting assignment. Thus, you should not spend too much time discussing business strategy unless it relates to the company’s accounting strategy. By accounting strategy, we mean the approach taken by the company in preparing its financial statements. This approach involves accounting policy choices, accounting estimates and accounting disclosure choices.
5. Evaluate the quality of the disclosure made in the accounts
6. Identify potential questionable accounting numbers
7. Attempt where possible to undo distortions in the numbers provided using footnote disclosures and other information in the annual report
8. Summarise any financial press discussion of the company’s performance and accounting numbers.