Q2 As we all know Woolworths is one among Australia’s greatest supermarket workers. Woolworths grocery stores are everywhere in Australia. Is not a exaggeration to express that more than half of Australian’s daily life can not be separated by Woolworths. Each day people buy a whole lot of goods from Woolworths, including food and also other daily needs. Woolworths is definitely committed to rendering better goods and services to consumers. Nevertheless, the customer still requirements some other protective. Therefore I think the Australia consumer regulation should be suitable to the Woolworths.

Place an order for research paper!

Database of essay examples, templates and tips for writing For only $9.90/page

Just like I stated Woolworths is usually committed to featuring better goods and services to buyers. However foodstuff accounted for almost all of the commodities. The foodstuff is our day to day essential, concurrently food straight related to people’s health. Which means safety of food and fresh is important. In my opinion the Australia foodstuff safety requirements is necessary to get Woolworths group. Of course the protection of additional goods can be same significant. But the foodstuff safety is quite important.

On the other hand, Woolworths supermarket generally located in a shopping center or a separate building.

Every single day there are a lot of persons stays during these buildings intended for long time. Not only customer stand in Woolworths, nevertheless also personnel. We know that general public places are usually easy can be found security risks. Such as flames disaster and other natural problems. Therefore Woolworths needs to be proven appropriate unexpected emergency measures compliance with the relevant regulations. Woolworths need comply with aAustralia flames safety rules or Work Health and Safety Regulation take action. Last but not least, though Woolworths adhering to the customer is usually God.

However the Woolworths continue to cannot ignore their workers. Woolworths delivers quality goods and services to customer. At the same time Woolworths need to maintain the power of the staff. Therefore I think the Aussie Labor law should be program. Q3 Consideration receivable Through view the gross annual report of Woolworths I discovered few concerns of some accounts. There are some accounts at risk of misappropriation. Especial is accounting receivable by Woolworths’s “balance sheet”. As a large supermarket cycle, the Woolworths daily revenue are very substantial.

But it also caused the Woolworths accounts have many risks. These risks possess potential types of man-made triggers; there may be different causes for that. There are some specific risks. The people who work in Woolworths may well forge checks received and altering visa or mastercard receipts. Likewise they can give credit for merchandise not really returned and stealing cash. At the same time the received on the accounts might written off. Collusion among buyer and seller to process reimbursments for products not delivered. That’s each of the risks may be making consideration receivable to misappropriation. Net asset

However there are some accounts susceptible to deceitful financial confirming. The Net property is prone to fraudulent financial reporting. Woolworths owns amount types of asset. Inside the ordinary course of operations Possessions may be diverted or stolen. Misappropriation of assets may be accomplished in lots of ways. Misappropriation of assets frequently accompanied by false or misleading records or documents in order to conceal the very fact that the resources are absent, indirectly causing accounting irregularities in financial report.

On the other hand, there may be another opportunity here is deliberately deceive. mployees may artificially improving the appearance of the financials include: overstating revenues simply by recording upcoming expected sales, understating bills through these kinds of means since capitalizing functioning expenses, inflating assets’ fortune by knowingly failing to utilize an appropriate devaluation schedule, hiding obligations from the company’s “balance sheet” and wrong disclosure of related get together transactions and structured financial deals Q4 Through visit the website of Woolworths, I believe the level of the reliance in Woolworths is extremely high.

We can found the organization Governance of Woolworths from website. You will find very ideal internal control system operate in Woolworths. Woolworths can be committed to making certain its plans and practices in the important areas of financial reporting, remuneration reporting and company governance meet high amounts of disclosure and compliance. The Constitution sets out the rules and principles intended for governing Woolworths’s business. The Code of Conduct describes how workers can meet the highest specifications through their very own everyday behaviours and alternatives in day-to-day work.

Investments Dealing Insurance plan in accordance with the law sum up the transaction Ordinance. And use this Ordinance to restrict the transaction target. Shareholder Marketing communications Policy shows information is communicated regularly to shareholders and other stakeholders through a selection of forums and publications. Continuous Disclosure Plan create a disclosed a structure for the Woolworths. Woolworths can well-timed and powerful disclosure their performance to shareholders. When enhancing the confidence of shareholders. Risk Management is key component of Woolworths’s internal control.

Woolworths provides a sound system of risk management and internal control which, along with its governance structure, is made to ensure that the material risks of conducting organization are successfully managed it could timely discover risks and give practical alternatives. Finally the committees monitor the entire system of internal regulates and make up your mind. Through a group of internal control system Woolworths can make dangers to minimum, and to reduce the losses brought on by the risks. Therefore I believe the level of the reliability in Woolworths is very large.


< Prev post Next post >

Accounting for rents essay

Subjective This kind of paper provides an overview of lease accounting. It will present the history, current status, and future ramifications of the most recent proposed normal, as jointly issued ...

The delivery industry accounting team essay

For the past five years I have been operating at McKay, Sanderson, and Smith Acquaintances, a mid-sized accounting organization in Boston that specializes in commercial accounting and audits. My particular ...

Starbucks mission sociable responsibility and

1 . How come do you think Starbucks has been therefore concerned with sociable responsibility in its overall business strategy? Two reasons Starbucks has been therefore concerned with interpersonal responsibility ...

Task report on cost evaluation of grain mill in

1 . one particular Introduction Grain is the software program food intended for 65% with the population in India. It’s the largest used calorie origin among the meals grains. Using ...

Benefits and drawbacks of portable banking essay

Many key commercial banking institutions are now supplying consumers the option to make debris, send funds, and carry out other program tasks using a mobile iphone app. Bank customers can ...

The truth analysis of equity money essay

The break of Collateral Funding had a far-reaching effect on business practices and institutions. Although it happened three decades ago, the teachings from Collateral Funding continue to be meaningful and ...

Endeca technologies composition

Executive Synopsis Endeca Technologies is known as a software company that established by Steve Progenitor on Sept 4th 2001. In the case, the business is currently searching for a Series ...

Forecasting foreseeable future trends in digital

Cyber Criminal activity, Espionage, Robbing, Digital Research from Example: Predicting Future Trrends in Digital Crime And Forecasting Foreseeable future Trends in Digital Crime and Digital Terrorism PREDICTING FUTURE TRENDS IN ...

Traditional investment appraisal techniques

Introduction “If you can’t measure it, you can’t manage it”. This fundamental principle of Peter Drucker is currently especially important when it comes to the value and managing of strategic ...

Monetary comparison of ryanair and uk airways

Ryanair is considered as the pioneer in the low-cost business design, while English Airways is constantly ranked between the world’s greatest legacy carriers. Both of these airlines are dominating companies ...

Category: Finance,

Topic: Balance sheet, Goods services, Internal control,

Words: 914


Views: 416

Download now
Latest Essay Samples