BFA 507 The Accounting Frameworks Assignment at University of Tasmania

 

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Assessment Details:

• Referencing Styles: Harvard
• Words: 3750
• Course Code: BFA 507
• Course Title: Accounting Framework
• University: University of Tasmania
• Country: AU

 

In Groups review The Annual Reports of JB Hi-Fi and Harvey Norman in the Years 2017 and 2020. Groups should be THREE people – CHOOSE a ‘Leader of the GROUP’ – they will upload the final version of the assignment for assessment.

If you are unable to work as a group, let me know (if you have not already) as I am aware this raises difficulties for a number of students. You may complete internet searches to identify any other information that may be relevant to responding to the questions posed.

I will provide annual reports and the questions –

ANSWER as questions

This IS NOT an essay.

There are NO Yes/No questions

You need to explain your views often. What type of business is each of the companies involved in? What are the total sales revenue, gross profit and net profit (before tax) for each of the companies in each of the years?

How has this changed? Can you identify any reasons why any change may have happened? How much tax do they pay? Are they multinational companies? What are the two largest expense and revenue items for each of the companies? Did you find the information provided easy to find? Do you find the notes to the accounts confusing?

What were net assets for each of the companies in each of the years? Did the extent of the owner’s funds change in the two time periods? If so, what reasons can you suggest might have contributed to this? What face each does a company prepare statements?

What information does each of the face statements convey? Is there anything you find confusing? If you were asked to prepare the trading statement for each company, are you provided with sufficient information? Are there any differences between the financial statements prepared by each company? If there are any, identify the differences.

What accounting policy changes have each company changed in 2017 and 2020? Why was this, if changes were made? Were there any asset revaluations and asset impairment decisions by either or both companies in either time period? Do they provide information to help understand the decision making if either happened? Explain. Sustainability has become an essential agenda item for many companies – what can your report for each of these companies? Has this changed between 2017 and 2020?

Identify a mining, chemical or other company you believe may have been under some pressure to address environmental issues, and suggest whether you think they address the sustainability agenda more thoroughly than either JB Hi-Fi or Harvey Norman. Do you think any differences in behaviour are reasonable, assuming there are differences?

In undertaking a brief financial analysis of the 2020 financial information for each company, write a brief report of 500 to 1000 words for each in layman’s terms. Then write a brief report of the same length discussing the sustainability and corporate governance information reported by each company. Indicate if this is adequate.

Bart Quikpik has been told the Harvey Norman would be a better investment than JB Hi-Fi. Recently Bart won several hundred thousand dollars in a lottery and wished to invest most of this for his retirement in 10 years. He is asking your view as he has been advised by his mate Silver Sleaze not to invest in Harvey Norman, yet his friend Honest George has recommended it. He needs independent advice.