Refer to the full financial statements of Woolworths Limited in this books appendix.(WOOLWORTHS LIMITED2017 ANNUAL REPORT) All questions relate to the consolidated accounts. 1. Find each of the following and indicate the page: a) summary data on the companys performance

b) a letter to shareholders from the companys chairperson of the board of directors or managing director

c) management discussion and analysis

d) a corporate governance statement

e the directors statement

f the auditors report

g the directors declaration h the five-year summary.

2. Who is the auditor?

3. What are the main items covered in the auditors report?

4. What are the main items covered in the directors statement?

5. What are the main items addressed in the corporate governance statement?

6. What risk-management policies are discussed?

7. What does the company say about corporate ethical standards?

8. Identify two different groups of users of financial statements of Woolworths Limited. a What decisions do they make based on corporate financial statements? b What specific components of the Woolworths Limited financial statements would they be most interested in?

9. Peruse the list of assets in the balance sheet and the related notes. How are the assets valued? Are there assets that are left out that you would have expected to see?

10. How are the concepts of fair value and value in use used by Woolworths?

11. Woolworths Limited also includes a section in its reports titled Doing the right thing. Within this section of the report the management of Woolworths Limited suggests the firm is committed to maximising the social, economic and environmental benefits of its business. What measures of performance are provided to those stakeholders other than the shareholders and debt holders of the firm?

12. What stock exchange is Woolworths Limited listed on? How many shares are issued? Look up a newspaper or online to discover its share price.

13. List three accounting-related events that are likely to increase the companys share price.

14. Are there any forms of incentive contracts in place for executives (see Woolworths web page) Required: From this information about Woolworths locate an overseas company and compare the international standards that have been used to comply the financial statements.