ACC101 Fundamentals of Accounting Assignment

Assignment Help Financial Accounting

Reference no: EM132870780 , Length: word count:1400

ACC101 Fundamentals of Accounting - Elite Education Institute

Essay Assignment - Woolworth Ltd

Refer to the latest financial report of Woolworth on its website,

Answer the following questions using the consolidated balance sheet and notes to the consolidated financial statements.

Requirements:

(a) Use the accounting equation for Woolworth in dollar figures at the end of the reporting period for the end and beginning of the last reporting year. Comment on what this reveals about Woolworth's financing policy.

(b) Explain why the change in total assets equals the change in total liabilities plus the change in total equity.

(d) Determine Woolworth's net increase (decrease) in cash flows for the last reporting period in aggregate and by operating, investing and financing categories.

(e) Explain how Woolworth could apply the principle of materiality of an item of financial information when preparing financial reports.

(f) In the business case at the start of this chapter, Woolworth is identified as a company that ranks highly on the Global Reputation Index. Research and report on the factors that contribute to Woolworth's high ranking in this index.

(g) Corporate reporting is evolving and is more than reporting on profits. Reporting on the entity's performance related to people and the planet is increasingly important and included within the annual report or as a stand-alone report. List examples of such reporting by Woolworth.

The solution below is based on the Woolworth Inc. Annual Report for the year ending 30 June 2020, available on Woolworth's website

Attachment:- Fundamentals of Accounting.rar

Reference no: EM132870780

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