BACKGROUND

You have just been employed as a graduate accountant at Investment Ezy, a firm that specialises in providing simple, easy to understand advice to potential investors and other stakeholders of companies listed on the ASX. Your manager, Helen, has just handed you a set of the last accounts for Treasury Wine Estates Ltd and has asked you to analyse the annual report so that you can assist her.

Helen has had a request from Michael, one of Investment Ezy?s newest clients, for some information on Treasury Wine Estates Ltd. Michael is a tradesperson with very little investing experience and he has received a tip from a friend that this company might be good to invest in. He has just inherited a large amount of money from his grandmother?s estate. As an inexperienced investor, Michael is nervous about investing in any company that has any global links.

Prepare a Letter of Advice for Michael explaining the impact that globalisation has on Treasury Wine Estates Ltd? annual report, providing examples from the 2015/2016 annual report.