22748: Financial Reporting and Analysis- Accounting assignment

Internal code- MAS3693

Accounting assignment

According to the annual report, the principal activity of JB Hi-Fi did not experience any significant changes in the past two years. The core business activities of JB Hi-Fi still focus on the sales of home appliances, music software and games via online stores and retail stores . In the last financial year, JB Hi-Fi expanded its sales channel by increasing the number of retail stores in Australia and New Zealand. There is a strong emphasis on digital content platforms and online stores, which is a key strategy to drive growth. Questions 1. summary of the company’s activities and strategies. 2. (a) Identify the key accounting policies relevant to the company’s success or lack of it; (b) Identify the accounting standards and rules which apply in respect of these accounting policies 3. flexibility in key accounting policies 4. accounting strategy for each key accounting policy and suggest/identify possible incentives behind the choice of strategy. Remember that this is an accounting assignment; you should not spend too much time discussing business strategy unless it relates to the company’s accounting strategy. By accounting strategy, we mean the approach taken by the company in preparing its financial statements. This approach involves accounting policy choices, accounting estimates and accounting disclosure choices. 5. Evaluate the quality of the disclosure made in the accounts 6. Identify potential questionable accounting number s 7. Attempt where possible to undo distortions in the numbers provided using footnote disclosures and other information in the annual report 8. Summarise any financial press discussion of the company’s performance and accounting numbers.