Introduction to Accounting
Company’s Annual Report (In-class Group Assignment in Week 12)
In-class of Week 12 (at the end of the workshop)
Your instructor will assign you one of three Australian companies that are listed on the Australian Securities Exchange (ASX) as follows: The A2 Milk Company Limited (A2M), Endeavour Group Limited (EDV) and JB Hi-Fi Limited (JBH). You are required to obtain the 2022 Annual Report for your group’s assigned company. You must answer all questions in this Group Assignment using the 2022 Annual Report of your company.
This assignment is designed to help you locate the Annual Report for a company and become familiar with its contents, particularly the financial statements. Pay attention to the Annual Reports, especially the information provided in the notes to the financial statements, as you will find a lot of useful information which may assist with solving some of the assignment questions.
After completing this Group Assignment, you will be able to:
1) Research information about the selected company (using multiple sources)
2) Identify the main components and structure of financial statements
3) Calculate some key financial measures
4) Prepare a professional document using various technologies
5) Develop professional report-writing skills
PART 1: Overview and background information
Use the annual report and other sources to provide an overview of the company. This must be written in your own words (no copying and pasting), using paragraphs rather than bullet points and correctly referenced as to where you found the information.
You should include information such as the following (but not limited to): a) Name of the company and the products/services it sells
b) Business/industries it is involved in
c) Locations in which the business operates
d) Number of branches/stores and staff
PART 2: Financial statements of the company
For your assigned company, take a screenshot of the statements listed below from the Annual Report and include them in your report. Your statements should show comparative figures for the current and previous financial years. Please note this is one statement showing both years, not two. Be sure that each report has a heading that shows the company name. A statement without a heading is meaningless.
a) Income Statement (Statement of Profit or Loss) b) Balance Sheet (Statement of Financial Position) c) Statement of Changes in Equity
d) Statement of Cash Flows
Use a tool such as the Windows Snip & Sketch tool to copy only the statements and paste them into your Word document. Ensure that what you provide is readable (refer to the video links provided via BUS103 Announcement on the use of the Snip & Sketch tool).
Using drawing tools, using appropriate colours and clearly highlight the following for the current year (2022) and previous year (2021):
2.1 Income Statement
a) Total revenue (total revenue may not be shown as one item, so you may have to highlight more than one-line item and calculate the total at the bottom of the statement)
b) Total expenses (as for revenue, if total expenses are not listed you may need to highlight all expense items and calculate the total after the statement.)
c) Profit or (loss) after interest and tax
Assessment 3 due in your registered workshop
In-class group discussion and participation of Part 3 and 4 during the workshop in Week 12
– ratio analysis (Part 3) and case study (Part 4) will be given in the workshop
– attendance is compulsory
2.2 Balance Sheet
a) Total assets b) Total liabilities c) Total equity
2.3 Statement of Changes in Equity
a) The current year profit (the figure you found on the Income Statement)
b) Retained earnings and total equity at the beginning of the period and at the end of the period
2.4 Statement of Cash Flows
a) Net Operating cash flows
b) Net Investing cash flows
c) Net Financing cash flows
d) Net increase/decrease in cash and cash equivalents
e) Cash and cash equivalents at the start and end of the period
PART 3: Ratio Analysis
Calculate the following ratios for your group assigned company and briefly explain the purpose of each ratio and how it applies in the context of the company for the current year (2022).
Show the formula and calculation
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