ACC5215: Corporate Accounting - Wesfarmers - BHP Billiton Limited - Accounting Assignment Answer

Accounting Assignment Answer

SECTION 1 (Part A)

Select one Australian Company from the TWO listed below and use its Annual Report to answer.

• Wesfarmers 2018 Annual Report

• BHP Billiton Limited 2018 Annual Report

Part A. BOARD COMPOSITION

1. How many independent directors are there?

2. What is the number of directors of each gender?

3. Select three directors, provide their qualifications and experience.

4. Number of subsidiaries and associates, foreign subsidiaries and associates.

Part B. REPORT

Required: As an in-house accountant of your selected company, you have been asked to prepare a report to be used in its annual general meeting. The report needs to discuss the following matters using the information found in the company’s annual report for 2018 and 2017 if necessary.

1. Entities are required by AASB 101/IAS 1 to present an analysis of expenses using a classification based on either their nature or their function. Explain the difference in using a classification based on either their nature or their function and which method is used in your selected company. Explain which method you recommend and provide the reason that you recommend that method. 

2. The current profitability level of the company, and stability of that profitability level for 2018 and 2017.

3. Opportunities for future growth (e.g., new business segments and/or new services) and the company’s recognition of and plans for growth.

4. The company’s contribution to corporate social responsibility and environmental sustainability.

5. What the company discloses about assumptions concerning the future and other key sources of uncertainty in estimation made in the report.

• Your answers have to be made based on the information provided in the annual report. You may also find it useful to read some financial articles from newspapers or journals or from case studies in your textbook on issues relevant to your company. This may enhance your assignment.

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