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the question is straight forward for consolidation. please only do Q. 1, Q.2, Q.3 ANDTHE COMPANY NAME IS WOOLWORTH. i have attached annual report of Woolworth for year 2017 , you can get all the...

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the question is straight forward for consolidation. please only do Q. 1, Q.2, Q.3 ANDTHE COMPANY NAME IS WOOLWORTH. i have attached annual report of Woolworth for year 2017 , you can get all the financial information online.
book for this assignment is company accounting.please let me know , if you need study materials like lectures slides .please do not drop my GPA . i need 100% accurate .
Answered Same Day May 02, 2020 ACC303 Deakin University

Solution

Pulkit answered on May 08 2020
129 Votes
1. The Woolworths is a major group engaged in retail business of food, beverages and hotels. The group’s operations are multinational and major market of the group is in Australia and in New Zealand. The Woolworths company has the following entities in its group:
a. Woolworths Supermarkets
. Woolworths Online (Homeshop)
c. Food for less
d. Flemings
e. Thomas Dux Groce
f. Macro Wholefoods Market
g. Beer Wine Spirits (BWS)
h. Cellarmasters
i. Dan Murphy’s
j. Langton’s
k. Woolworths Liquo
l. ALH Group
m. Caltex Woolworths / Safeway
n. Big W
o. Adore Beauty
p. Woolworths Dollars
q. Woolworths Cards
. Woolworths Mobile
s. Countdown
t. Supervalue
u. Freshchoice
v. Woolworths @ Gull
2. The consolidated financial statements of the company are the combined financial statements of the whole group. These financial statements present a holistic view of the whole group that is to say of the parent and the subsidiary company as a whole. Therefore one can analyze, judge and ascertain the overall position of the group using these financial statements which have consolidated data of various entities of the group. The General Purpose Financial Reports (GPFR) requires the group to provide financial statements of the whole group as a whole (i.e., consolidated financial statements) so that the users are able to understand and analyze the overall financial position of the whole group rather than looking at the individual or distinct entities differently. The standards laid down by the AASB (Australian Accounting Standards Board) also suggest that the company is...
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