The final accounting report

The final accounting report - 1101AFE Accounting Principles...

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1101AFE Accounting Principles Questions and Answers about Billabong International Limited and a Financial Analysis of the Company Presented by: Silje Gulbrandsen s2563368 Emma Strömgren s2183911 Anita Wang s2574079 Convenor: Dr Pak Auyeung Due date: 14 th of October 2005
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Table of Contents Part A: Questions and Answers about Billabong International Limited. ................. 3 Part B: Financial Analysis of Billabong International Limited . ............................... 8
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1101AFE Accounting Principles Part A: Questions and Answers about Billabong International Limited Presented by: Silje Gulbrandsen s2563368 Emma Strömgren s2183911 Anita Wang s2574079 Convenor: Dr Pak Auyeung Due date: 14 th of October 2005
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1101AFE Accounting Principles – Part A Semester 2, 2005 Silje Gulbrandsen s2563368, Emma Strömgren s2183911 & Anita Wang s2574079 Introduction Twelve questions are going to be answered about Billabong International Limited. The answers are all based on the annual report of 2004. Questions and Answers 1. What are the principal operations of Billabong International Limited? The principal operations of Billabong International Ltd are designing, producing and distribution of surf and board sports’ apparel and accessories. The goods get distributed to more than 3000 surf shops worldwide. 2. Who are the external auditors of the company? R A Baker in PricewaterhouseCoopers is the external auditor of the company. 3. What have the auditors said in relation to the accounting information in Billabong International Limited’s report? The external auditors say that they are of the opinion that Billabongs’ directors have given a true and fair view according to the Corporation Act 2001, Accounting Auditing Standards and other professional requirement in Australia. 4. Have the auditors received any money from the company for doing any work part from conducting the audit? If so, how much was received? The auditors have received money witch is stated in the notes of the financial statement (note 26) as “other services” for $225,000. 5. Explain the difference between the “Consolidated” and the “Parent Entity” financial figures? Why are we interested in the “Consolidated” figures for this assignment? The “Consolidated Entity” is the entity of Billabong International Limited and all the entities that the company control. The “Parent Entity” is the entity of only Billabong International Limited. The reason why the “Consolidated” figures are the ones that are of interest is because that those figures are the figures that give a proper and more accurate image of the whole of Billabong International Limited business. As a client it is also more interesting to know about the whole of the “Consolidated Entity”, because if, say, Billabong’s “Consolidated Entities” would have - 4 -
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1101AFE Accounting Principles – Part A Semester 2, 2005 Silje Gulbrandsen s2563368, Emma Strömgren s2183911 & Anita Wang s2574079 problems with getting enough revenue and such. It is a very good thing to know about it, if you want to invest, because in the end the “Parent Entity” would suffer.
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This note was uploaded on 10/10/2010 for the course ECON 7300 at University of Sydney.

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The final accounting report - 1101AFE Accounting Principles...

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