Accounting receivable – looking at the annual report of Treasury wine estates for the year ended 30th June 2016, it is found that the amount of account receivable for that year were amounted to $ 603.4 million and that was decreased from $ 504.9 million for the year 2015.
The trade receivables of the company are recognised at the fair value initially and eventually it is calculated at the amortised cost, reduced by the allowance of the doubtful debts. The company generally allow 30-120 days credit based on the transaction nature. Further, the bad debt is allowed for reducing the carrying amount of the trade receivables on the basis of the outstanding amounts analysis at the reporting date where potential risk is found with regard to credit (Mathuva 2015).
Plant, property and equipment – looking at the annual report of Treasury wine estates for the year ended 30th June 2016, it is found that the amount of account receivable for that year were amounted to $ 603.4 million and that was decreased from $ 504.9 million for the year 2015.
The property, plant and equipment of the company are recognised at the fair value initially and eventually it is reduced by the impairment loss, if any and accumulated depreciation (Hoskin, Fizzell and Cherry 2014). The depreciation is provided on the straight line method. The leased assets are written of over the useful life or term of lease whichever is lower. During the year no changes were made with regard to the depreciation.
Accounts receivable – account receivable is the money that is expected to be received by the company in future. Depend on the amount of receivable it can be assessed that whether the company is able to pay-off its short term obligation comfortably. Further, it reveals whether the company is able to generate sales to earn profit (Bruce-Twum and Mensah 2015). If very large amount is shown in the balance sheet it indicated that the company is not able to collect its dues on time or not as the dues for long time increases the risk of bad-debts.
Plant, property and the equipment – this is one of the most useful items under the balance sheet and it assists in getting the idea of regarding how intensive the assets is and the particular business model it follows for plant, property and equipment (Zack 2013). When the balance sheet of various companies are analysed under a specific industry or sector, the plant, property and equipment of the company are compared with the after tax profit in terms of dollar (Tweglobal.com/~/media/Files/Global/Annual-Reports/2016-Annual-Report.pdf 2017). If the business is more productive, it may indicate that the company’s PP&E is lower as con pared to the cash balance.
Accounts receivable – if the societal impact is considered, receivables will be regarded as important item as it helps the society analyse the liquidity position of the company. If the company is not able to collect its dues on time the chances of bed-debts will go up which may even lead to dissolve of the company. Further, the company from whom the dues is to be received will be regarded as not efficient for investment.
Plant, property and equipment – it will have a big impact on the society if the company is not providing appropriate depreciation on the asset and the asset is in use even after the useful life of the asset got over, it may adversely affect the environment as well as the society. Further, the type of asset may have adverse impact on the society and the community under which the business operates.
While analysing the annual report of Treasury Wine Estate for the year ended 30th June 2016, I found that the company prepares its financial statement based on the Corporation Act 2001 and the authoritative pronouncement in compliance with the AASB (Australian Accounting Standards Board). Further, the items are measured on the basis of historical cost except for some of the derivative instruments related to finance. I also found that the annual report of the company includes consolidated profit or loss account and the other comprehensive income, consolidated financial position report, consolidated changes in equity report and consolidated cash flows report. The report also includes the independent auditor’s report, director’s report and director’s remuneration report. The audit of the financial statements for the year ended 30th June 2016 was carried out by KPMG.
While going through the annual report, I found that the report did not include any sustainability report, without that report the economic, social, governance and environmental performance of the company cannot be assessed. Further, the values were presented only in monetary terms. Moreover, the assets under balance sheet do not specify the factor that which of the asset can be sold and which are not.
However, I found that the reports present clear data regarding the financial position of the company through consolidated profit or loss account and the other comprehensive income, consolidated financial position report, consolidated changes in equity report and consolidated cash flows report, it will be useful to the investors, creditors, and the lenders to assess the performance of the company.
Bruce-Twum, E., and Mensah, C. C. 2015. Financial Statement Analysis.
Hoskin, R.E., Fizzell, M.R. and Cherry, D.C., 2014. Financial Accounting: a user perspective. Wiley Global Education.
Mathuva, D., 2015. The Influence of working capital management components on corporate profitability.
Tweglobal.com/~/media/Files/Global/Annual-Reports/2016-Annual-Report.pdf. (2017). Annual report 2016. [online] Available at: https://www.tweglobal.com/~/media/Files/Global/Annual-Reports/2016-Annual-Report.pdf [Accessed 13 Sep. 2017].
Zack, G.M., 2013. Financial Statement Analysis. Financial Statement Fraud: Strategies for Detection and Investigation, pp.209-213.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2018). Financial Report Of Treasury Wine. Retrieved from https://myassignmenthelp.com/free-samples/financial-report-of-treasury-wine.
"Financial Report Of Treasury Wine." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/financial-report-of-treasury-wine.
My Assignment Help (2018) Financial Report Of Treasury Wine [Online]. Available from: https://myassignmenthelp.com/free-samples/financial-report-of-treasury-wine
[Accessed 28 January 2021].
My Assignment Help. 'Financial Report Of Treasury Wine' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/financial-report-of-treasury-wine> accessed 28 January 2021.
My Assignment Help. Financial Report Of Treasury Wine [Internet]. My Assignment Help. 2018 [cited 28 January 2021]. Available from: https://myassignmenthelp.com/free-samples/financial-report-of-treasury-wine.
For years, MyAssignmenthelp.com has been operating as one of the cheap assignment help providers in the USA. We are one of the best college paper writing services that keep service price minimal. We do not let the affordability of our service to hamper the standard of our work. We have separate teams of experts to provide report writing help . At MyAssigenmnthelp.com, we believe in earning credibility, so students can pay for assignments only after getting satisfied solutions. Tough assignments bother you? Trust us with your project. You will not regret paying us to write assignments for you.
Answer: Introduction Time and Money are very necessary resources for all organizations and persons, the must be Used with effective and efficient planning. A budget is a part of planning that helps the Company to achieve its objective in minimal cost. Budgeting is the quantitative pan for future Forecasting. Mostly budgets are based on experience that can be adjusted in future requirements. Accounting Data of past time plays an important role...
Read MoreAnswer Introduction The meaning of control provides comprehensive supervision so that a solitary regulator exemplary can be practically applies to all entities. The project was urbanized partially to report apparent discrepancies between IAS 27 and SIC 12, and to boost junction by way of US GAAP. The report gives advice to Billy Handy, the finance director of Northern Australia Global Investment Ltd (NAGIL), for consolidating his investments....
Read MoreAnswer: Introduction: In the intense competitive business environment, the corporate entities are taking special care towards implementing effective strategies, which is very much needed in terms of strengthening position in the market. As discussed by Robson, (2015) implementation of effective strategies serves the organisation with the ability to accomplish the organisational goals and objectives. With the assistance of well formulated stra...
Read MoreAnswer: The company Magellan is engaged in the business of global investment. It invests the client’s capital in the global market and generates the higher returns to its clients as compared to its competitors. It has a team of professionals which analyze the best possible companies for the purpose of investment and provide the better return to its clients for their invested capital in the company. The responsibility of an auditor in th...
Read MoreAnswer: Introduction In the modern world, audit processes are very vital on the part of corporates to thrive in such complicated environment. This is because auditing assists in recognizing all material risks that has made the entire business vulnerable in nature. Besides, it also assists in reflecting whether the depicted financial performance of the company is true and fair. This makes it clear that if proper auditing measures are not imple...
Read MoreJust share requirement and get customized Solution.
Orders
Overall Rating
Experts
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
great work easy to follow and had 0 plagiarism thank you so much . i will recommend.
Australia
Yes, I like ant trust My Assignment Help.com. They help a lot to complete my assignment. Thanks
Australia
Very good writing. Data analysis, Gantt chart, Data table everything is fine. I like My Assignment Help.com
Australia
Thank you so much for all your help. It helped me get an understanding of what is being required.
Australia