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ACC566 Acc Systems And Processes
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ACC566 Acc Systems And Processes
0 Download2 Pages / 488 Words
Course Code: ACC566
University: Charles Sturt University
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Question:
Q1 Naming cells in spreadsheets
Create a simple spreadsheet to demonstrate how cell references can use names. Use Sales less Expenses = Net Profit. Show both normal and formula views with row and column headings.
Q2 Negative numbers
Paste a simple spreadsheet example showing how negative numbers can be displayed in brackets. Why do accounting financial reports follow this practice?
Q3 Separation of data and report areas
Why should accounting spreadsheet reports be designed with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example showing normal and formula views.
Q4 IF functions
Reference a YouTube video explaining IF functions. What is an ‘IF’ statement (function)? Provide a simple spreadsheet accounting example showing an IF function for net profit/net loss.
Q5 Periodic versus Perpetual Inventory Systems
Does the Foot video in Interact2 Resources show Periodic or Perpetual Inventory? How can you tell? Explain the essential differences between perpetual and periodic inventory systems. Give your own examples of products/situations suited to each. (Watch the 3 videos on Inventory in Interact2 Resources).
Q6 Worksheet and financial reports
Write a business report critically evaluating spreadsheets as a tool for accounting. Use Internet resources. Include a section on the advantages and disadvantages of spreadsheets. Refer to the Internet for advice on Business Report structures. Reference ALL your sources.
Q7 Application of Inventory flow assumptions
Create a manual, handwritten solution. Scan or use your phone to copy and paste an image of your handwritten solution in your word file. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which method you chose. We ask for a handwritten solution because this is the method you will use in the final exam. In the meantime, we want you to acquire spreadsheeting skills.
Answer:
Overview
Wesfarmers group is a publicly listed based Australian company dealing in diverse businesses. These cover Liquor, hotels, office supplies, home improvement, supermarkets, department stores and more. In 2017 financial year approximately 515000 were the stockholders and 223000 were the employees (Wesfarmers, 2017).
The report mainly includes the Wesfarmers financial position in 2017 comparing with 2016 financial year which consists all ordinary and extraordinary items.
Wesfarmers Group
Particulars
2017
2016
$M
$M
Profit after tax
2873.0
407.0
This above table shows that profit after tax of Wesfarmers Group showing an increment of $ 2466 million (that is 605% above) in 2017 financial year as compared to 2016 reporting year.
This income of company is consisted with all the ordinary and exceptional items. Further the company has also reported revenue amounting $68444 million in 2017 year in comparison to 2016 which was $ 65981 million. There is an increment of $ 2463 million in 2017 with that of the previous financial year (2016).
The primary objective of the concern is to provide desired yields to the investors by engendering strong cash flows.
Wesfarmers has gained below highlighted points in financial year 2017. These are:
In year 2017, The net debt has decreased to $ 4809 million from $ 7103 million in 2016 which means balance sheet have been strengthen by 32.29% in 2017.
In 2017, Operating cash flows were $ 4226 million while in 2016 it was $ 3365 million which means $ 861 million was above from 2016.
Net capital expenditure was lowered by 23.1% from financial year 2016.
Return on equity shareholders were 3.6% above from 2016 reporting period.
Company has declared 223 cents dividend in 2017 financial year whereas 186 cents were declared in 2016 reporting period.
Finance costs and tax expenses were increased to 62.8% as compared to 2016 financial year.
Earnings per share were increased to 254.7 cents in 2017 while it was 36.2 cents in 2016.
Wesfarmers Revenue seat factor of 2017:
In 2017, Wesfarmers group has a revenue of $ 68444 million while $ 65981 million in 2016 which resulted an increment in 600 times.
Dividend per share:
DPS was 223 cents in 2017 whereas in 2016, it was 186 cents.
Return on capital Employed:
In 2017, ROCI was 9.7% whereas in 2016 ROCI was 11.2%.
Net Assets:
In 2017, Net assets were $ 23941 million whereas in 2016 net assets were $ 22949 million.
Earnings per share:
In 2017, EPS was 254.7 cents and in 2016 it was 36.2 cents.
Current Ratio is calculated to find out the short-term soundness of the company. It is calculated as follows: Current Assets ÷ Current Liabilities.
Particulars
2017 ($ M)
2016 ($ M)
Current Assets
9667
9684
Current Liabilities
10417
10424
Current Ratio [Current Assets/Current Liabilities]
0.93
0.92
Comment:
From the basis of above ratio, it has been seen that its short-term solvency is not good because Wesfarmers current assets are less as compared to current liabilities in both years i.e. 2017 and 2016.
Financials of Wesfarmers
Particulars
2017
2016
$M
$M
Total Revenue
68444.0
65981.0
EBIT
4402.0
1346.0
PAT
2873.0
407.0
Conclusion
As an investment advisor, it should be noted that in 2017, the company has earned magnificent profits in diverse areas. Further it can be said that Wesfarmers is very good for long term investment because short term assets are not sufficient to meet its dues.
References
Wesfarmers Annual Report. (2017). Wesfarmers Annual Report 2017 . Retrieved on 08 May 2017 from www.wesfarmers.com.au/docs/default-source/default-document-library/2017-annual-report.pd
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