1. Please follow the task sheet instructions. Everything necessary is in there.ONLY DO WHAT IS...

Question

1. Please follow the task sheet instructions. Everything necessary is in there.ONLY DO WHAT IS HIGHLIGHTED IN YELLOW, IGNORE THE REST. The issue is the closure of Big W stores.
2. I have provided the link of the article:

https://www.smh.com.au/business/companies/woolworths-announces-first-big-w-store-closures-in-cost-cutting-plan XXXXXXXXXXp528df.html?fbclid=IwAR0MRoiP3ZRaMqnfa-8wruFalxoFlxy1ajuIjm7lQoTF8sKfkxWifVLo1y4

3. You must only link it to Australian Accounting Standards and only to the ones I have sent. Please follow the instructions of the task sheet.ONLY DO WHAT IS HIGHLIGHTED IN YELLOW, IGNORE THE REST
4. Don't do the one-page summary, only the oral presentation. Again, please do everything the task sheet specifies. Please be clear and specific about which Accounting standard you are linking the issue (and section of the standard) and how it is relevant to the issue. ONLY DO WHAT IS HIGHLIGHTED IN YELLOW, IGNORE THE REST

5. Here is the link to every AUSTRALIAN Accounting Standard: [I've attached a document which suggests which Standards to talk about. Please choose only 1]

https://www.aasb.gov.au/Pronouncements/Current-standards.aspx

6. Please follow the assessment rubric
7.ONLY DO WHAT IS HIGHLIGHTED IN YELLOW IN TASK SHEET, IGNORE THE REST.

task-sheet-obehfkxh.docx accounting-standards-re143f5s.docx

Preeta · Accepted Answer

Issues in woolworth
Issues in woolworth
Introduction
	To find out the issue, the article which has been chosen is the article by Powell (2019) in Sydney Morning Herald on Woolworth. The issue is that the company is facing a financial crunch. Woolworth is a big retail company and has been operating for around more than 90 years. But in the recent time it is facing stiff competition from online retail sites like Amazon and Ebay. The company incurred a loss of $110 million in the year 2018 and within the first quarter of 2019 only, it has further incurred loss of $8 million. So, as a turnaround strategy the company has planned to close down 30 of its stores. Announcement has already been done for 3 of such stores in Sydney. Distribution centers in Warwick, Queensland, and Monarto in South Australia has already been closed. So, a lot of the employees are on the verge of losing job. Although the company has planned to close 30 stores out of 187 stores yet the analysts are of the opinion that the company should close at least 60 of such stores to cut out its costs. In fact the company is also planning to separate its operation of hospitality,

1. Please follow the task sheet instructions. Everything necessary is in there.ONLY DO WHAT IS HIGHLIGHTED IN YELLOW, IGNORE THE REST. The issue is the closure of Big W stores. 2. I have provided the...

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