...summary: This report is aiming to disclose how the Annual report of Woolworths for 2012 apply the accounting standard related to estimation uncertainty and accounting policy judgments. Furthermore, the potential gap between Woolworths’ current practice and the accounting standard requirements will also be discussed. Paragraphs 122- 124 of AASB101 has explained the requirements of significant accounting policy judgments and paragraphs 125-133 has detailed what need to be done for estimation uncertainty. According to these standards, Woolworths disclosed how the company determined the carrying amounts of assets and liabilities and explained the company’s policies to response the uncertainty due to foreign currency in their notes to the consolidated financial statement. Judgments about leases assets and liabilities and judgments about subsidiaries were also can be found in the notes. However, it can be indicated that some potential gaps still exist between Woolworth’s report and the accounting standard. For example, there is no assumption for how to revalue the fair value of some tangible assets in specified circumstance. What’s more, the company did not mention the sensitivities of carrying amounts of inventories and how to face these sensitivities. Therefore, further improvements need to be done in the next year’s annual report of Woolworths. Introduction: This report is an evaluation of Woolworths’ Annual Report in 2012, it will judge whether notes to Woolworth’s...
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...which was primarily driven by the success of the coles turnaround, Westfarmers's major competitor woolworths successfully launching the "Masters" chain of retail hardware stores and planning to rolled the business bigger in next 3 years still is a concern for the board of directors in westfarmers. What makes it worse is the announcement of intention of leave of Mr. Mcleod, who has been credited with the very successful turnaround of Coles business. The purpose of this report is to investigate any potential key challenges presently facing by the group by analysis of the industry and core competence and value chain of westfarmers. 2. Westfarmers background Westfarmers was established in 1914 as Western Australia farmers' co-operative. It is now one of the largest retailers and diversified publicly listed company in Australia. In 1984, when it was firstly listed on ASX, its market value was only $30 million, but by the end of 2008, it had a market capitalization grown to $25 billion. In fact, it has engaged an aggressive acquisition and diversification strategy since its establishment. Of those diverse business one of the most important businesses is the retail business including Coles and Bunnings. This leads to the major competitor of Westfarmers's, woolworths. Currently woolworths entered the home improvement retail market and makes the competition between westfarmers and woolworths more aggressive. 3. Industry analysis The key retail market westfarmers are now competing is...
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...and the most important factor is successful performance in Supply Chain Management (SCM). However, 7-Eleven still has been facing a lot of problems which should be sorting them out in order to get more business opportunities. This report focuses on the supply chain management of 7-Eleven and suggests the improvement for potential problem of its whole supply chain system. At first, will introduce the company’s background by collecting data about its current situation and identifies the issues which are supported by SWOT analysis. And through the GAP analyses of the business the key existent issues faced by 7-Eleven. According to those above, the report will finalize the recommendations and implementation methods in order to improve the business and set a benchmark for future development. In the end, although 7-Eleven’s trend is led more convenience stores to satisfy the need of customers, but it still needs to improve its supply chain and operation mode to Commercial global optimization to continue keeping its leading position in the retail market. 7-Eleven Background 7-Eleven is the largest convenience store chain in the world, which has approximately 47,500 stores in 16 countries. The first Australian store was opened in 1977 owned by the Withers/Barlow family which has the license to operate and franchise 7-Eleven stores in Australia from the U.S. 7-Eleven INC. After 1990 Japan company Ito Yokado controlling share of 7-Eleven. Nowadays, 7-Eleven stores Pty Led operates...
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...Soesanto 23270683 Part B: Han Yang 25023772 Part C: Kangtai Li 25843001 CALTEX Australia Ltd: BUSINESS VALUATION GROUP PROJECT CALTEX Australia Ltd: BUSINESS VALUATION GROUP PROJECT Table of Contents Executive Summary 3 1. Introduction 4 1.1 Purpose 4 1.2 Scope 4 1.3 Sources 4 2. Company Background 4 3. Benchmark 5 4. Capital Market Analysis 6 4.1 Share Ownership 6 4.2 Share Trading and Liquidity 9 4.2.1 Stock Liquidity 9 4.2.2 Bid-Ask Spread 10 4.3 52 Weeks High and Low 12 4.4 News and Disclosure Analysis 14 4.5 Analyst Coverage 17 5. Business Analysis 26 5.1 Macroeconomic Analysis 26 5.1.1 Economic Factors 26 5.1.1.1 GDP Growth 26 5.1.1.2 Exchange Rate 27 5.1.1.3 Interest Rate 28 5.1.2 Legal Factors 28 5.1.2 Market Factors 29 5.2 Industry Analysis 29 5.2.1 Rivalry Among Existing Companies 29 5.2.2 Threat of Substitutes or Services 30 5.2.2.1 Shale Gas 31 5.2.2.2 Biofuels and Renewable Resource 31 5.2.3 Threat of New Entrants 31 5.2.4 Bargaining Power of Buyers 32 5.2.5 Bargaining Power of Suppliers 33 5.3 Business Strategy Analysis 33 5.3.1 Cooperating With Woolworth 33 5.3.2 Domestic Market 34 5.3.3 Packaging Changing Plan 34 6. Management Quality and Corporate Governance Analysis 35 6.1 Management Quality 35 6.2 Internal Corporate Governance 37 6.3 External Governance 40...
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...Country Road ACC5605 Accounting Theory and Practice By Anonymous Table of contents 1.1: Introduction 3 1.2: Country Road’s Mission 3 1.3: Background summary of Country Road’s products and services 4 1.4: Key Competitors 4 1.5: Competitive Strategy 6 1.6: Economic factors 7 2.1: Financial Statement Analysis 9 2.1.1: Common Size Analysis 9 2.1.2: Ratio Analysis 10 2.1.2 (a): Profitability 10 2.1.2 (b): Liquidity 11 2.1.2 (c): Capital Structure 12 2.2: Book value per share to the market value per share 14 2.3: Changes in the CEO 14 2.4: Auditor firm and the audit partner 15 2.5: Non Audit Services by the Auditor 15 2.6: Issues raised by the Auditing Firm 16 Appendix 17 Reference 21 1.1: Introduction The company of Group #3 is Country Road Limited (CTY). Country Road is an upscale retailer of branded products including quality apparel, homewares and related accessories, with a great number of freestanding store and department store concessions in Australia, New Zealand and South Africa. Country Road is on the list of the Australian Stock Exchange and it is a subsidiary of a South African company Woolworths Holdings which owns an 88% interest. The company’s home page http://www.countryroad.com.au/ shows about its productions, activities and other information. The URL of Country Road’s annual reports for the latest two years are attached, in descending chronological order: Country Road Annual Report for the year ending 2009: http://www...
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...Sam’s Clubs GLOBAL INDUSTRY ANALYSIS - CASE STUDY Wal*Mart Stores, Inc. a presentation p 1 Sam Walton Founder of Wal*Mart Stores, , Inc. Performance of Wal*Mart 20-year average return on equity of 33% Compound average sales growth of 35% Market value = $57.5 billion $ Wal*Mart Sales per square foot $300 Industry average $210 WAL MART Background 2 Year 1988 CEO: David Glass COO: Don Soderquist How to sustain the company’s phenomenal performance? 1987 Net sales Net Income Number Of Stores Number Of Stores Discount Stores Sam’s Wholesale Clubs Supercenters 1,114 84 N.A. 1,953 419 68 15,959 628 1993 67,345 2,333 WAL MART Background 3 Number of Stores (1994) 0 500 1000 1500 2000 Hypermarkets Warehouse Clubs Warehouse Outlets Wal*Mart Stores WAL MART Background 4 Where Emerged in the U.S. g When Mid-1950s Top 10 discounters in 1962 Wal*Mart remained only The industry became more concentrated Discount store companies p operated 50 or more stores accounted for 82% CR5 (1986) 38% 62% CR5 (1993) 29% 71% WAL MART 5 Discount Retailing Discount Retailing Industry Sa ales Grow wth 30 20 10 0 25% 9% 11.2% 7% WAL MART 6 Discount Retailing Comparative Pricing Study, 1993 WAL MART 7 Discount Retailing Overall Performance of Discounters WAL MART 8 Discount Retailing Year 1945 Ben Franklin franchise store In 1950s 15 stores Year 1962 Wal*Mart Discount City store Year 1969 18...
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...[pic] ACC2211 GROUP ASSIGNMENT-MOTHERCARE PLC Student Name: Amatullah Mustafa –M00339852 Ayesha Umar – M00386183 Sarrah Fakhri – M00386837 Shabbir Zoher – M00374468 Yasmeen Essa – M00374142 Academic Year 2012 -2013 Business School – Dubai Campus Module Title: Managerial Finance and Accounting Module Code: ACC2211 Submission Date: 21/02/2013 Word count: 2893 TABLE OF CONTENT 1. Background of the Company 2. Strengths and Weaknesses of the Company A. Corporate Governance B. Analysis of Financial Ratios C. Strengths and Weaknesses 3. Conclusion and Recommendations MOTHERCARE PLC Founded in 1961, Mothercare is a specialist retailer of products for mothers-to-be, babies and children up to the age of eight (Mothercare plc, 2013). It was founded by Iraqi Born Selim Zilkha. During the late 1950’s, he was looking at alternative business interests which led to creation of a one stop maternity store in Great Britain. He acquired investors to acquire the 10-store Lewis and Burrows nursery chain and converted one of the sections to a mother-to-be and baby department and hired several buyers to choose the merchandise. The experiment tried by him was a failure and £180,000...
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...Table of Contents 1. Introduction 1 2. Wine Manufacturing Industry and External Environment 2 2.1 Wine Manufacturing Industry 2 2.2 External Environment 6 3. Porter’s 5 Forces Analysis 10 3.1 Threat of New Entrants 11 3.2 Bargaining Power of Buyers 12 3.3 Threat of Substitutes 14 3.4 Bargaining Power of Suppliers 16 3.5 Rivalry within the Competitive Arena 17 4. Conclusion 19 Reference 21 1. Introduction Captain Arthur Phillip brought grape vines from Brazil and the Cape of Good Hope to Australia when his fleet arrived in Botany Bay, located in Sydney, in 1788, according to Wine Australian which is one department of Australian government. Since that Australia had made a history of producing and exporting wine. In 1854, a barrel of fortified wine was exported to London, which is the first reported Australian wine export (Wine Australia, 2012). Subsequently, Australian exports in wine have boosted at an extraordinary rate especially in recent years, reaching the record level in 2007. Today, Wine Australian also point out that Australia is the fourth largest wine exporter in the world, constituting about 4% of total world wine production, and export over 800 million liters to international wine market and as a result, it produces a contribution of around A$3 billion per year to Australian economy. Australian wine exports to more than 100 countries; mainly two biggest markets are United Kingdom and United State. Besides, there are other significant markets...
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...traditional markets once prevalent in numerous countries. These markets acted as a gathering place for individual merchants, many of whom were selling their own goods. Such markets were often open air establishments in which people could peruse the various fruits, vegetables, meats, and fish available from farmers, butchers, and fishmongers. Many of these same products are offered by the supermarket industry, though the process of acquiring and selling these goods has become more standardized. This industry analysis will show different factors and causes of the competition of supermarket industry in Malolos, Bulacan and will present some factors to consider in starting the better firms through the entire business operation. 1.1 BRIEF BACKGROUND The competition has raised the bar for supermarket retailers. Perhaps, some have simply lost sight of what the customers needed and wanted. Regardless, today's customers have less time, and are more intelligent, than ever before. Supermarket retailers will continue to face increasing...
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...The Crucial Roles of Professional Accountants in Business in Mid-Sized Enterprises Professional Accountants in Business Committee International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York 10017 USA The mission of the International Federation of Accountants (IFAC) is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high-quality professional standards, furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. This publication was prepared by IFAC’s Professional Accountants in Business (PAIB) Committee. The PAIB Committee serves IFAC member bodies and the more than one million professional accountants worldwide who work in commerce, industry, the public sector, education, and the not-for-profit sector. Its aim is to enhance the role of professional accountants in business by encouraging and facilitating the global development and exchange of knowledge and best practices. This publication may be downloaded free-of-charge from the IFAC Web site at http://www.ifac.org. The approved text is published in the English language. Copyright © September 2008 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work provided that such copies are for use in...
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............... 6 1.1. Mission and Vision ...................................................................................................... 6 1.2. Background .................................................................................................................. 6 1.3. Products and Services ............................................................................................... 6 1.4. Market ........................................................................................................................... 7 1.5. Competitive Advantage .............................................................................................. 7 1.6. Capabilities .................................................................................................................. 7 1.7. Objectives .................................................................................................................... 8 1.8. Strategy ........................................................................................................................ 9 1.9. Management Team .................................................................................................... 9 2. Background ........................................................................................................................... 10 2.1. Background ................................................................................................................ 10 3. Service ........................
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...1 The Innovator’s Dilemma When New Technologies Cause Great Firms to Fail CLAYTON M. CHRISTENSEN Harvard Business School Press Boston, Massachusetts 2 Copyright © 1997 by the President and Fellows of Harvard College All rights reserved The Library of Congress has catalogued the hardcover edition of this title as follows: Christensen, Clayton M. The innovator’s dilemma : when new technologies cause great firms to fail / Clayton M. Christensen. p. cm. — (The management of innovation and change series) Includes index. ISBN 0-87584-585-1 (alk. paper) 1. Creative ability in business. 2. Industrial management. 3. Customer services. 4. Success in business. I. Title. II. Series. HD53.C49 1997 658—DC20 96-10894 CIP ISBN 0-87584-585-1 (Microsoft Reader edition) 3 Contents In Gratitude Introduction PART ONE: WHY GREAT COMPANIES CAN FAIL 1 How Can Great Firms Fail? Insights from the Hard Disk Drive Industry 2 Value Networks and the Impetus to Innovate 3 Disruptive Technological Change in the Mechanical Excavator Industry 4 What Goes Up, Can’t Go Down PART TWO: MANAGING DISRUPTIVE TECHNOLOGICAL CHANGE 5 Give Responsibility for Disruptive Technologies to Organizations Whose Customers Need Them 6 Match the Size of the Organization to the Size of the Market 7 Discovering New and Emerging Markets 8 How to Appraise Your Organization’s Capabilities and Disabilities 9 Performance Provided, Market Demand, and the Product Life Cycle ...
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...Annual Report 2014 Our customers are at the core of our business Myer strives to be customers’ number one destination when it comes to fashion, cosmetics, and the home. Our strategy provides a clear direction for us to continually delight our customers when they engage with us, whether it is in a store or online. Contents Chairman and CEO Report Page 04 Directors’ Report Page 42 Operating and Financial Review Page 06 Remuneration Report Page 47 Sustainability Page 22 Financial Report Page 68 Board of Directors Page 26 Auditor’s Independence Declaration Page 114 Management Team Page 28 Independent Auditor’s Report Page 115 Corporate Governance Statement Page 30 Shareholder Information Page 117 Corporate Directory IBC Annual General Meeting The fifth Annual General Meeting of Myer Holdings Limited will be held on Friday 21 November 2014 at 11.00am (Melbourne time). Mural Hall Level 6, Myer Melbourne Store Bourke Street Mall, Melbourne VIC 3000 Myer Holdings Limited ABN 14 119 085 602 Front cover image: Myer Adelaide Left page top to bottom: Team member and customer; Homewares, Myer Adelaide; Childrenswear, Myer, Emporium Melbourne. CHAIRMAN AND CEO REPORT Paul McClintock AO and Bernie Brookes was able to maintain total sales of $3,143 million. On a comparable store sales basis, sales increased by 1.2 percent. It is encouraging that comparable store sales have now grown in eight of the last nine quarters, which points to our...
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...Context: 1. Introduction 2 2. Background of Wal-Mart stores Inc. 3 3. Retail organization internatinalization expension 4 4. International Expansion of Wal-Mart in Maxico,china and canada 5 5. Comparison of Entry Modes 6 6. comparison of Opportunities 7 7. Final touch 8 8. Conclusion 9 9.Bibliography 10 1. Introduction: Being present and having to enter foreign markets is for many companies natural, while for other it is a new challenge that they have to face. This challenge, known as market entry, consists of three major decisions: where to enter, when to enter and how to enter different markets. Some companies are forced to internationalize in the early stages of their life due to small saturated home markets, while other companies choose to go abroad because of the great opportunities new markets might bring (Peng, 2006). Once deciding to go abroad and choosing the target market and timing, companies' need to consider the choice of entry modes. Generally, to choose international firm there are six different entry modes: exporting, turnkey projects, licensing, franchising, joint ventures, wholly owned subsidiary (Hill, 2004). Each entry mode its distinctive characteristics (see, e.g., Hill, 2004; Hill, et al, 1990; Hill and kim, 1988; Anderson and Gatignon, 1986; Madhok, 1997; Brouthers and Brouthers, 2000; Bishop 2006. Selecting a suitable entry mode is a difficult decision for firms interested in entering a foreign market (Agarwal and Ramaswami, 1992). Sometimes...
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...SUPPLY CHAIN PRACTICES OF CTI Education Group TABLE OF CONTENTS Introduction ……………………………………………………………………….. Page 02 Contacts at CTI …………………………………………………………………... Page 02 Supply Chain Management …………………………………………………….. Page 02 Competitive Advantages ………………………………………………….…….. Page 03 Core Product / Service Offerings ………………………………………………. Page 04 Description of CTI Education Group’s Students …………………………….. Page 05 Supply Chain Strategy ………………………………………………………….. Page 06 Are CTI Group’s Supply Chain and Product Offering Aligned? ……………. Page 08 Supplier Relationship Management …………………………………………... Page 08 CTI Education Group’s Suppliers................................................................ Page 09 Supplier Involvement in CTI Education Group’s Operations....................... Page 10 Supply Chain Integration and Management ………………………………... Page 11 Conclusion................................................................................................... Page 13 Bibliography ……………………………………………………………………… Page 14 Appendix A (Permission from CTI) ……………………………………………. Page 16 Appendix B (List of Suppliers) …………………………………………………. Page 17 Appendix C (Campuses) ……………………………………………………….. Page 18 Appendix D (Career Paths) ……..……………………………………………… Page 19 Appendix E (Trade & Industry) ………………………………………………… Page 20 INTRODUCTION For this assignment I have elected to case study CTI Education Group. Reasons for choice: 1) While...
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