Background:
On February 26, 2016, the Age reported the following: "Australia's oldest electronics retailer, Dick Smith, has kicked off a stock liquidation sale at stores across Australia and New Zealand as its operations are wound up over the next eight weeks"
Read more at: https://www.theage.com.au/business/retail/dick-smith-kicks-off-fire- sale-20160225-gn47kr.html#ixzz41F4eB7JP
Scenario:
You are an accountant at Federation Group Accountants & Investment Advisers. You have been approached by a group of investors for your professional advice on why Dick Smith went into receivership in February, 2016.
Required:
On Moodle you will find the 2015 annual report for Dick Smith:
Analyse this report based on your accounting studies and prepare a report showing how Dick Smith went from some very optimistic results (provide evidence) in this 2015 annual report to being liquidated. You should use some basic information such in this report such as:
a. A description of the core business of the company including full details of its operating activities.
b. A discussion on any significant issues emerging from the Directors' Report.
c. A discussion on the Corporate Governance Statement.
d. A calculation of the key financial ratios for 2015
e. Other information
The main aim of this paper is to provide your professional advice on why Dick Smith went from some optimism in their annual report into receivership in February, 2016.
Please note the following:
• Format: Business report
• Contribution to overall assessment: 20%
• Length: 2000 - 2200 words (maximum)
• Due date: May 16, 2016
• Your work must comply with the University's General Guide for the Presentation of Academic Work.
Accounting concept and practices.
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