country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Accounting Systems Of Wesfarmers Group

tag 0 Download3 Pages / 640 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Accounting Systems and Processes Of Wesfarmers Group.
 
 

Answer:

Introduction:

Wesfarmers group is one of the largest retail sector in Australian market that are listed in Australian stock exchange. The business operations of organization is diverse that involves hotel, supermarket, liquor, departmental store, home improvement and has several industrial divisions such as chemical, fertilizers and coal.

Statement of comprehensive income:

The profit attributable to the parent company members has reduced drastically from $ 2440 in year 2015 to $ 407 in ear 2015. Component of profit involves comprehensive income, retained earnings and cash flow hedge reserves (Zhang & Ni, 2016). There was no cash flow hedge reserves in current year.

Commenting on several items of group using ratio analysis:

Dividend- Dividend payment is an important component of shareholder return. Payment of dividend to shareholders in year was recorded at $ 2270 million. 

Earnings per share- The diluted and basic earnings per share stood at same value in year 2016. Earning per share for year 2016 was calculated at 36.2 as against 216.1 in year 2015 that indicated a considerable fall.

Return on equity-Return on equity indicates the return generated to shareholders and it can be seen from figure that ratio has fallen in year 2016. Return on equity was recorded at 1.71% in year 2016 as compared to 9.61% and 10.34% in year 2015 and 2014 respectively (Marshall, 2016).

Working capital ratio- Working capital ratio is calculated at 0.93 for two consecutive years as against 1.13 in year 2014. This indicates that liquidity position of organization has reduced in recent year.

Risk and mitigation-  For managing the risks associated with organization, Wesfarmers group has risk management framework. The importance of identifying, managing and monitoring material risks associated with group’s activities is recognized by organization. Operations of business or competitive dynamics might be affected by affected by several level of risks (Shevelev et al., 2017). In order to deal with issues relating to business activities, organization has appropriate strategies in place.

Sustainability- Sustainability is one of the factors that has helped organization in achieving competitive advantage over its competitors. Consistent performance of organization has helped in remaining sustainable.

Corporate governance- While preparing several reports and carrying out their business activities, Wesfarmers intends to complies with the corporate governance principle that is listed in the standard of ASX corporate governance principal.

Income statement- Income statement of Wesfarmers group provides with status of revenue, expenses, earning before income and tax, earning per share and profits that is attributable to parent company members. There has been significant fall in profit from $ 2440 million in year 2015 to $ 407 in year 2016 (wesfarmers.com.au 2017).

Balance sheet- Balance sheet of Wesfarmers has two main items that involve total value of assets and total value of liabilities. Total value of assets is recorded at $ 40783 in year 2016 that involves the value of current assets and current liabilities. Total value of total for year $ 17834 in year 2016 and other items involve total value of equity that stood at $ 22949 (wesfarmers.com.au 2017).

Net profit after tax-

Particulars

Amount ($ m)

Net profit after tax

 

2016

2353

2015

2440

2014

2689

2013

2,261

2012

2126

Recommendation to Vikram:

Wesfarmers has been performing consistently in past few years, although there has been fall in profit. Nonetheless, there is scope for improving the efficiency of operations of organization. Performance of Wesfarmers can be enhanced if there is efficient utilization of existing assets. Therefore, Vikram should invest its $ 50000 in organization that would generate stable return in ling-run.

 

References:

Zhang, L., & Ni, G. A. (2016). Research on Accounting Information System Based on Business Process. International Journal of Simulation--Systems, Science & Technology, 17(7).

Marshall, D. (2016). Accounting: What the numbers mean. McGraw-Hill Higher Education.

Shevelev, A. E., Sheveleva, E. V., & Gvozdev, M. Y. (2017). Methods of internal control in integrated management accounting system of the enterprise. In SHS Web of Conferences (Vol. 35, p. 01115). EDP Sciences.

Wesfarmers.com.au. (2017).  Retrieved 19 September 2017, from https://www.wesfarmers.com.au/docs/default-source/reports/2016-annual-report.pdf?sfvrsn=4
OR

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2019). Accounting Systems Of Wesfarmers Group. Retrieved from https://myassignmenthelp.com/free-samples/accounting-systems-of-wesfarmers-group.

"Accounting Systems Of Wesfarmers Group." My Assignment Help, 2019, https://myassignmenthelp.com/free-samples/accounting-systems-of-wesfarmers-group.

My Assignment Help (2019) Accounting Systems Of Wesfarmers Group [Online]. Available from: https://myassignmenthelp.com/free-samples/accounting-systems-of-wesfarmers-group
[Accessed 30 May 2020].

My Assignment Help. 'Accounting Systems Of Wesfarmers Group' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/accounting-systems-of-wesfarmers-group> accessed 30 May 2020.

My Assignment Help. Accounting Systems Of Wesfarmers Group [Internet]. My Assignment Help. 2019 [cited 30 May 2020]. Available from: https://myassignmenthelp.com/free-samples/accounting-systems-of-wesfarmers-group.


MyAssignmenthelp.com boasts a pool of 3000+ experts from different backgrounds, who are solely dedicated to providing premier quality assignment help. Due to the diversity in our expert team, we are capable of providing academic assistance in more than 100 subjects. Some of our popular services include math assignment help, economic assignment help, accounting assignment help, statistics assignment help, law assignment help and more at a reasonable price.

Latest Accounting Samples

BUS103 Accounting For Managers : Team Assignment

Download : 0 | Pages : 4

Answer: Introduction: Different stores of JB Hi-Fi offer various types of electronic products; like leading brands of computers, TVs, Tablets, Speakers, Cameras, HI FI, Car Sound System, Home Theatre Sound System, Portable Audio systems and others. In addition, the company also offers various ranges of DVDs, games, Blu Rays, TV shows and others at cheap prices (jbhifi.com.au 2018). JB Hi-Fi measures their revenue based on fair value of the r...

Read More arrow Tags: Australia Robertson Management Dispute Management  University of New South Wales 

HA 3011 Advanced Financial Accounting Statements

Download : 0 | Pages : 10
  • Course Code: HA 3011
  • University: Holmes Institute
  • Country: Australia

Answer: Introduction: Bell Financial Group Limited Company has been given to make the analysis of the annual report of the company. The company is Australia based and listed on the stock exchange of Australia. The company is in into the business of broking, financial and advisory related services. For the purpose of the analysis of the impairment testing the company’s annual report of the company for the financial year ending 2016 has b...

Read More arrow

BAO3309 Advanced Financial Accounting 2

Download : 0 | Pages : 15
  • Course Code: BAO3309
  • University: Victoria University
  • Country: Australia

Answer: Introduction  This study deals with understanding the role of International Integrated Reporting Committee by referring to the IIRC websites as well as relevant accounting literature. In the next segment, explanation had been done to understand the potential roles of integrated reporting with regard to stakeholder engagement, comparability of reporting, quality of reporting, usefulness of reporting and users of reporting. The curre...

Read More arrow

HA 3011 Advanced Financial Accounting Assessment

Download : 0 | Pages : 10

Answer: Part A Requirement I In Toll Holdings Limited, impairment needs to be done when the market price of an asset is less than the value recorded in the balance sheet. As per the latest financial statements, one can observe that the corporation has used their business goodwill for the purpose to test impairment (competitiontribunal.gov.au, 2018). It needs to be mentioned that Toll Holdings Limited has complies with the require...

Read More arrow

AC4410 Accounting And Finance 2

Download : 1 | Pages : 10
  • Course Code: AC4410
  • University: University Of Central Lancashire
  • Country: United Kingdom

Answer: Introduction: Sky plc is a European media and telecommunication company which is situated in London, UK. The key products of the company are direct broadcast satellite, broadband, telephony services, broadcasting, pay television etc. the total revenue of the company was € 12.916 billion in 2017. Currently, 21 million subscribers are entertained by the company and 30,000 people are employed by the company (Home, 2018). The company...

Read More arrow
Next
watch

Save Time & improve Grade

Just share Requriment and get customize Solution.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,323,991

Orders

4.9/5

Overall Rating

5,075

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2830 Order Completed

97% Response Time

Leroy Bicknell

MBA in Marketing

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1896 Order Completed

95% Response Time

Herman Berens

MSc in Psychology

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2115 Order Completed

97% Response Time

Kimberley Chen

MPA in Accounting

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2632 Order Completed

100% Response Time

Albert Ambrosio

MSc in Nursing

London, United Kingdom

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

Very nicley done. Had no problems to get perfect marks. Will come back for sure for more help

flag

User Id: 289697 - 30 May 2020

Australia

student rating student rating student rating student rating student rating

Please don’t fluctuate after paying half amount. Fix it at starting. Thankful for your great work. I appreciate it.????????????

flag

User Id: 433795 - 30 May 2020

Australia

student rating student rating student rating student rating student rating

The answers were so clear and near perfect :D Just as my teacher wanted the answers to be. Also,, the APA style was awesome. Thanks a lot :)

flag

User Id: 435122 - 30 May 2020

Australia

student rating student rating student rating student rating student rating

I\'m having with the service. I like the way of delivery the content more importantly I\'m sure I ll get good grades

flag

User Id: 420078 - 30 May 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?