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    Wesfarmers- Financial and Accounting

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    Compare and analyse the financial results of the selected company for 2017 to 2018. Use of key results (and their explanation) including ratios and narrations.Discussion on the improvements or not in financial position and profitability, and reasons Examination of how your company shows sustainability initiatives in their retail businesses.Discussion of new initiatives, or those stopped.How do you rate the sustainability of your company? Company name: Wesfarmers...

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    In Australia, Wesfarmers is one of the leading retail firm provide one of the best quality of service as well as product to their customer. It has a huge business operating in various segments like supermarket, hotels and convenient stores, home improvements, departmental stores and much more. The company has huge investments and earnings from the various sector of the market. It provides a detailed annual report on the overall performance, investments and earnings of the company as a whole throughout the year. This annual report covers the performance of the company for consecutive two years for 2017 and 2018.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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