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BX3011 Company Accounting

tag 0 Download 8 Pages / 1,910 Words tag 03-11-2020
  • Course Code: BX3011
  • University: James Cook University
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  • Country: Australia

Question:

Company financial statement analysis:

You are required to access the most recent annual report of one of the following companies listed on the Australian Stock Exchange (Annual reports are available via the JCU Library Database ‘DatAnalysis’. They are also available on the company website.):

  • Coca Cola Amatil Limited CCL
  • CSR Limited CSR
  • Elders Limited ELD
  • QBE Insurance Group Limited QBE

Please note that reports that relate to companies other than the above, or years earlier than the most recent financial year, will not be marked and will receive a Zero grade.

You are required to write an executive report with a maximum length of 2500 words, which will address all of the following points:

  1. Describe the nature of the company’s activities
  • What type of company
  • What industry
  • What are its core activities, key strategies for the future
  • How big
  • How old
  • Where is head office
  • Is it a parent company – yes – briefly  show your understanding of group accounts and consolidation – what are the principals of consolidation
  • What is the presentation currency? Why?
  1. Discuss the composition of the company’s equity
  • What is equity – how is it defined
  • What are the figures
  • what accounts make up equity
  • What type of shares, fully or partly paid
  • What type of reserves
  • What is retained earnings figure
  1. Identify (look up and state) the Share price for the company’s ordinary shares for the last day of the financial year. What relationship does this have with the share capital as reported in the financial statements?
  • Does the market value of the share price bear any relationship to the $ share value as disclosed in the annual report? Should it?
  1. Identify the share price for the company’s ordinary shares one calendar month after the end of financial year. What may have caused any difference over this one month period?
  • Can you suggest any reasons why the share price has risen/fallen/stayed the same
  • Could be company specific factors, global factors, industry factors
  1. Discuss the debt structure and the source of external (i.e. non-equity) financing
  • What types of debt
  • How much $
  • Interest rates
  • Debt/equity ratio – is it ‘normal’ for this industry
  • Long term, short term, medium term
  1. Comment on the provision for income tax figure, deferred tax assets/liabilities
  • What are the balances of the current and deferred tax items – how does this compare with income tax expense
  • What are the amounts for deferred tax items, what assets and liabilities do they relate to
  • Have they increased or decreased since last year
  • How has company tax been calculated – for the consolidated group, or separate tax amounts for each entity
  • This is a complicated area made more difficult if there are foreign subsidiaries and other taxes (capital gains tax for example), Try to stick to the basic principles of accounting for company tax.
  1. Discuss the key elements in the fixed assets categories
  • Fixed assets – PPE AASB 116
  • What are the main categories, are these subdivided further
  • How do the types of Fixed assets relate to the particular industry
  • How are they measured
  • How are they depreciated
  1. Identify the intangible assets and discuss  the policy for recognising the impairment of these asset
  • What are they – consider the industry
  • How much ($) – how does this $ compare to tangible asset $
  • Impairment issues
  • Increased or decreased
  • Would expect some goodwill in a parent company
  1. Summarise the company’s financial operations during the financial year (i.e.  retained earnings, dividend distributions, changes in capital).
  • What went into and came out of Retained Earnings – how does this compare with the previous year – what were the main reasons for increases/decreases
  • Were there dividends, what type etc
  • Did share capital change – were there more shares issued, were there buybacks
  • How did the company fare overall
  • How did the company fare overall
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