BUACC 5930, Accounting and Finance

1
Assignment for Submission
Subject: BUACC 5930, Accounting and Finance
Semester 1, 2022
This is a Group Assignment due in either week 10 or 11.
All questions must be completed.
Question 1.
Woolworths Group Limited, a major Australian company, has extensive retail interests
throughout Australia and New Zealand. It is the largest company in Australia by revenue
and the second-largest in New Zealand.
The most recent financial report for the Company are found at the following site:
https://www.woolworthsgroup.com.au/page/investors/ourperformance/Financial_Results
Here you will find the latest annual report (to 30 June 2021) and quarter and half yearly
reports.
a. Using the 2021 annual report only, compare the financial results of the Company
between 2020 and 2021. You should use any financial information provided in
the 2021 report (including ratios, and narratives) to conclude on the
improvements or not in financial position and profitability. Your discussion
should focus on reasons for this, and should include any impact due to the COVID19 pandemic.
b. Using the other financial information provided (quarter and half yearly reports for
FY2022), comment on any financial changes between the annual report (ended 30
June 2021) and the FY2022 reports.
c. What other information would you need to assess the financial performance and
financial position of Woolworths Group Limited?
Word Limit 1100 words, Marks = 45
Question 2.
The 2021 Sustainability Report for the Woolworths Group Limited is available at
https://www.woolworthsgroup.com.au/page/community-and-responsibility/groupresponsibility/
This report outlines Woolworths approach to People, Planet and the Product.
Summarise the goals of the Woolworths Group Limited in relation to People, Planet and
the Product.
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What is your opinion of the measures that Woolworths has to achieve these goals?
Word Limit 750 words, Marks = 30
Question 3: Cash Flows Question
Melbourne Ltd Statement of Financial Position as at 30 June
Assets 2021 2020
Cash $43,200 29,600
Accounts receivable 54,400 20,800
Inventory 43,200 0
Prepaid expenses 3,200 4,800
Land 36,000 56,000
Buildings 160,000 160,000
Accumulated depreciation – buildings (16,800) (8,800)
Equipment 154,400 54,400
Accumulated depreciation – equipment (22,400) (8,000)
Total Assets $ 455,200 $308,800
Liabilities and Shareholders’ equity 2021 2020
Accounts payable $18,400 $32,000
Accrued expenses 8,000 0
Bonds payable 88,000 120,000
Share capital 176,000 48,000
Retained earnings 164,800 108,800
Total liabilities and shareholders’
equity
$ 455,200 $308,800
Melbourne Ltd Income Statement for the year ended 30 June 2021
Income
Sales revenue $712,000
Less: Sales discount 4,000
Less: Expenses
Cost of sales 372,000
Expenses 176,800
Interest expense 9,600
Loss on sale of equipment 1,600
Profit before income taxes 148,000
Income tax expense (48,000)
Profit after tax 100,000
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Question 3 – continued
Additional information:
a) Expenses include depreciation expense of $26,400 and charges from prepaid
expenses of $1,600.
b) Land was sold at it’s carrying amount for cash.
c) There were no outstanding interest and income tax expense.
d) Equipment with a cost of $132,800 was purchased for cash. Equipment with a cost of
$32,800 and a carrying amount of $28,800 was sold for $27,200 cash.
e) Cash dividends of $44,000 were declared and paid.
f) All sales and purchases were on account.
g) Bonds of $8,000 were redeemed at their carrying amounts for cash. Bonds of
$24,000 were converted into ordinary shares.
h) Ordinary shares were issued for $104,000 cash.
Required:
Prepare a Statement of Cash Flows for Melbourne Ltd for the year ended 30 June, 2021.
You are advised to show all workings.
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BUACC5930, Group Assignment Marking Scheme
Names: Student Numbers:
Bases of assessment Marks Possible
Question 1
Comparing the annual financial results from 2020 to 2021.
Use of key results (and their explanation) including ratios
and narrations (15 marks).
Discussion on the improvements or not in financial
position and profitability, and reasons – eg COVID-19 (10
marks).
Update from FY2022 financial information – quarter and
half yearly reports for FY2022 (10 marks)
What other information would you need to assess the
company? (10 marks)
/ 45
Question 2.
Examination of how the Woolworths Group Limited is
achieving its aims in the Sustainability Report (15 marks)
What is your opinion of these measures? (15 marks).

/ 30
Question 3
Presentation and Accuracy of all parts.
/ 20
Overall Presentation – including cover page, line spacing,
page numbering, referencing according to the APA.
(see https://federation.edu.au/library/guides/help-withreferencing
/ 5
Total / 100

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