Woolworths report details

Question 1:

1) Woolworths limited be involved in activities of sell through chain-store operations that are in various 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 one million million = $4,092.9 million + $2,052.5 million

End Date 26 June 2005: $8,957.9 million = $6,760.8 million + $2,197.1 million

3) The founding of measurement for the Woolworths has been prepared on the basis of Historical Cost of company.

4) Consolidated net profit for monetary year 2005 for Woolworths:

Net Profit = $791.6 million

5) Consolidated cash return from operational activities for year 2005:

Cash flow for operating activities in 2005 was $1,221.0 million.

Cash flow did non increased compared to last financial year.

6) In general, tax revenue is recognise only when it is probable that the economic benefits comprising the revenue will flow to the entity and that the flow can be reliably measured (Annual sketch Woolworths limited page 1). Entity needs an story policy for revenue recognition because it means to include an element 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 mainly with info related to companies directors who they are and what are there qualifications and there name. It as well as says the following

1) Principal activity of the company during the financial year they overly state of any changes which are going to take side in future activity.

2) Consolidated results...

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