Key Questions
1. Question1:
When restating the Woolworth's Balance sheet, Net Operating Assets and Equity plus Net Financial Obligation are always equal. What do you understand from this?
2. Question2:
When viewing the business, calculating ratios are not uncertain like NPV. It is comparing different figures already present in financial reports. Why can't we consider it as a powerful way of viewing business?
3. Question3:
Dirty surplus are added in Comprehensive income statement. The purpose of restating the statement of changes in equity is to add dirty surplus.
Is restating the statement of changes in equity necessary when a firm provides comprehensive Income statement?
When restating the Woolworth's Balance sheet, Net Operating Assets and Equity plus Net Financial Obligation are always equal. What do you understand from this?
2. Question2:
When viewing the business, calculating ratios are not uncertain like NPV. It is comparing different figures already present in financial reports. Why can't we consider it as a powerful way of viewing business?
3. Question3:
Dirty surplus are added in Comprehensive income statement. The purpose of restating the statement of changes in equity is to add dirty surplus.
Is restating the statement of changes in equity necessary when a firm provides comprehensive Income statement?
Hi Dheepa, As per the discussion on Facebook, Woolies sets its budgets on a weekly basis (Monday to Sunday). So I would assume that depending on where the last Sunday of the financial year fell, the date would be that.
ReplyDeleteThank you Matt.
ReplyDeleteHi Dheepa,
ReplyDeleteGood KCQs, I find this new information interesting that retail stores like WoolWorths produce their reports every 52 weeks each year!!
great work dheepa.. really good questions..
ReplyDeleteI don't quite understand the first question, is that the basic accounting equation?
ReplyDeleteIt is a powerful way of viewing business. Restating the financial statements let us view the business clearly. The above is the doubt I had when restating.
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