Woolworths report details

Question 1: 1) Woolworths exceptional be involved in activities of sell through chain-store operations that ar in different cities of Australia. They assume with the sales of food, consumer goods and general merchandise. 2) Accounting Equation of Woolworths limited for 2005: Asset         = Liabilities + Owners Equity Start time 28 June 2004:                                                               $6,145.4 atomic number 53 million million = $4,092.9 million + $2,052.5 million End season 26 June 2005: $8,957.9 million = $6,760.8 million + $2,197.1 million 3) The founding of measure for the Woolworths has been prepared on the basis of Historical Cost of compevery. 4) coalesced net profit for monetary family 2005 for Woolworths: Net moolah = $791.6 million 5) Consolidated cash return from operational activities for year 2005: Cash current for operating a ctivities in 2005 was $1,221.0 million. Cash flow did non increased compared to last pecuniary year. 6) In general, tax tax is recognise only when it is probable that the economic benefits comprising the tax revenue allow for flow to the entity and that the flow can be reliably thrifty (Annual sketch Woolworths limited page 1). Entity needs an story constitution for revenue recognition because it means to include an ingredient in accounting record and on the face of a financial command (Financial management).

This category is assigned to the revenue recognition because revenue are generated or arise from the ordinary activities of entity so they are needed to be recognised as different element not as Gains. 7) Role of! directors report: Directors report provides in the first place with info related to companies directors who they are and what are in that location qualifications and there name. It as well as says the following 1) Principal action of the company during the financial year they overly state of any changes which are going to take side in future tense activity. 2) Consolidated results... If you want to get a full essay, rewrite it on our website: OrderEssay.net

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