ACC501 Financial and Business Performance Information Assignment Help

ACC501 Financial and Business Performance Information Assignment Help

ACC501 Financial and Business Performance Information Assignment Help

Assessment 1 - Case Study

Part - A

Report

An interview is conducted over the financial management of the Dick Smith Foods in order to make evaluation of clients financial needs. As per the evaluation it is concluded that they are tend to increasing their share of revenues and enhance their operational activities so that they get adequate share of earnings. They focused over making huge profits with the help of their sales. For this purpose they need to increase the quality of their products along with this they need to improve their promotional activities for the purpose of promoting products within their target market. There are various measures get evaluated with this factor such as with the increase in revenues or earnings there is significant increase in the tax liability that need to be reduced so that they attain huge margin of profits with them. For increasing their sales they need to produce more and for this purpose they need to enhance their capabilities. In interview their management share that they are looking for updating their machinery so that they perform as per their set targets. As per the new requirements of the client they require adequate amount of finance so that they make adequate level of enhancement in their machinery and increase their sales(Smith, 2011).

ACC501 Financial and Business Performance Information Assignment HelpIn order to support their new requirements there are some relevant legal requirements need to be considered according to the standard 3.2.2 (Food Safety Practices and General requirements) there is requirement to measure the quality standards of the food products produced by them and standard 3.2.3 (Food premises and Equipment) according to this standard there is requirement to measure the efficiency of the equipment utilised for producing their products. These two standards are mandatory standards that required to be followed by them in order to get desired success. And to support their desire they require huge finance so that they update their equipments and increase their production capacity. In order to get finance they adopt leasing option that helps in getting the adequate equipment at small rentals. With this option they make adequate use of their available finance and it doesn't overburden them. It create long term liability as they need to pay small rentals against the use of machinery (Stein, 2013).

Along with these factors there are various factors that need to be considered in attaining their financial needs. Owner's need to chose the leasing option instead of buying new machinery because it helps in saving funds for different purposes such as promoting their products in their target market. Along with this they make their lease machinery and other equipments get insured so that if something adverse can happen they have something to save. To support their financial needs they need to take bank loan so that its repayment helps in getting tax benefits. There are various sources are available in the form of leasing, bank loan, bank overdraft, retained profits, and many more that helps in raising finance. In order to attain the desired requirements adequate plan is prepared and need to be followed in effective manner (Stein, 2013).

Part B

Reflection report

According to the consultation process and the conclusion report it is observed that for the purpose of making adequate level of changes in the processing there is effective need of preparing adequate plan and then follow it in effective manner. As per the above report it is analysed that Dick Smith Foods shows interest in increasing their earnings and revenues and for this purpose they make consultation from their financial advisor. As per the consultation report initially goals are decided as what they want to do. Initial goals and objectives are set by them so that effective strategies are prepared accordingly. As per their need they are preparing for increasing their revenues and earnings along with reduce the tax liability so that they attain huge profit margin from their sales. For this purpose they shows interest in getting new machinery as well as update the existing one. As per the consultant they need to improve their promotional activities that also require adequate investment of finance (Schmitz, 2014).

The interview is conducted in specific manner and all the questions asked in the interview is related to their growth plan. It is very necessary to ask the relevant questions as it helps in getting adequate level of information from them. With the help of the asked questions goals of client is easily determined as they need to increase the share of their earnings and profit margin. Their report is prepared effectively and render detailed information related to their plan. The strategies of getting funds and following the set standards helps in getting the desired results from the market. With the help of the prepared strategies it is clearly observed that the requirement of client is efficiently meet down. There is no requirement of changing the report or neglecting it (Schmitz, 2014).

In the consultation process there is effective level of discussion is made over the need of the finance or financial position of the Dick Smith foods as for the purpose of getting machinery and equipments they don't have sufficient funds that affect their planning. For this purpose effective and adequate sources of finance get identified that help in raising the required funds well on time. For getting the funds they make evaluation of the different sources on the basis of their merits and demerits along with their implications and associated costs. It is necessary to evaluate the financial sources otherwise it will create long term issues that hampers the business processing and sometime create legal issues (Taylor & Juchau, 2013).

Additional finance is required because it helps in getting the new machinery or updating them as well as follow new promotional activities in order to make their product promotion effective and efficient. By investing in promotional activities they make their targeted customers aware about their product that helps in increasing their sales and results into increase in their revenues and earnings (Taylor & Juchau, 2013).

It is concluded that the consultation process is effective and detailed enough for the purpose of meeting the requirement of their client so that they perform their activities in order to achieve their goals. All the proceedings related to the requirement of finance, equipments and others get strategise properly and get followed in order to attain the set goals (Taylor & Juchau, 2013).

Below is the plan prepared for the purpose of supporting their set targets such as: -

Activities

Description

Duration needed

A.

Identify the goals of the client (Dick Smith Foods)

1 week

B.

Evaluate the adverse effects of the goals

3 weeks

C.

Evaluate the possibility of success factor

3 weeks

D.

Evaluate the requirements to attain the desired goals.

4 weeks

E.

Identify the need of the finance requirement

2 weeks

F.

Identify and measure the financial sources

3 weeks

G.

Select the adequate source of finance to raise the required funds

3 weeks

H.

Prepare strategies to utilise the funds in different activities

4 weeks

I.

Implement the strategies

6 weeks

J.

Evaluate the results attained after implementing strategies

3 weeks

K.

Submit the report to management

2 weeks

(Bruce & Gupta, 2011)

Below is the Gantt chart on the basis of the above prepared plan such as: -

Gantt chart

Part C

Feedback: -

Feedback is provided over the prepared action plan as it need to be revised with some effective changes and these changes are it is not required to show case the evaluation of success factors and adverse effect as a separate activity it can be put together. After this when all requirements are evaluated in one activity then why financial requirement get identified in another activity. Except these changes remaining action plan is good and effective as it helps in getting the  set desired goals of the client (Kingston & Weng, 2014).

Below is the revised action plan along with the changes made in it such as: -

Activities

Description

Duration needed

A.

Identify the goals of the client (Dick Smith Foods)

1 week

B.

Evaluate the adverse effects and the success factors of the goals

3 weeks

C.

Evaluate the requirements to attain the desired goals.

4 weeks

D.

Identify and measure the financial sources

3 weeks

E.

Select the adequate source of finance to raise the required funds

3 weeks

F.

Prepare strategies to utilise the funds in different activities

4 weeks

G.

Implement the strategies

6 weeks

H.

Evaluate the results attained after implementing strategies

3 weeks

I.

Submit the report to management

2 weeks

(Kingston & Weng, 2014)

Below is the revised Gantt chart on the basis of the above revised action plan such as: -

Gantt chart

(Kingston & Weng, 2014)

With the effect of this there are effective changes are noted down in the financial position of the client as they require additional capital investment for the purpose of supporting their plan. They require finance for the purpose of developing their assets by purchasing new equipments and updating existing. Along with this they improve their promotional activities that helps in capturing their market share. The inflow of finance enhance their financial position as they attain adequate share of liquid funds for supporting their plan(Kingston & Weng, 2014).

Part D

Report

Once the consolation process, its review and feedback get completed it become necessary to ensure that need of client get meet. Consultation process is ended up with the note that all the essential and necessary requirements are made and recorded in detailed version that helps in setting effective plan. A plan is prepared in order to formulate the things in systematic manner so that it get processed in effective manner(Cameron, et. al., 2014). In order to make sure that they need of clients get met in effective manner some aspects need to be followed such as:

It is very necessary to make constant review of the client's financial position as it helps in taking effective decisions on the basis of their financial status. Suppose if they are facing financial issues and not able to maintain adequate share of funds then it is require to make re-evaluation of the strategies and replace them with new ones so that they process their activities in effective manner and meet out their set targets. With the help of reviewing the financial position helps in knowing about the utilisation of the funds and other investments. If the financial position is good enough then future investment plans can be discussed in order to make the business efficient and effective (Smark, 2014).

Once the plan is prepared it is necessary to make review over it so that effective feedback is rendered over it. Feedback over the prepared plan helps in making required and necessary changes so that it become more effective in order to get the set desired targets. With the of the feedback revised plans are made that helps in getting the set goals in effective manner. The plans get modified with the help of the feedback and feedbacks are necessary in order to attain the desired level of success. feedback shows the necessary amendments in the plan. As per the amendments made in plan it get analysed that proper and adequate amendments are made in it as unnecessary activities get excluded or merged into activities that make the action plan concise and provide effective viewpoint and easy to understand. All the point get covered significantly and effective changes are made at the time of review that helps in preparing effective plan as it helps in getting the desired goals (Smark, 2014).

In order to attain the set desired goals it is necessary to make evaluation of the achieved objectives as well as review the progress of plan. These review helps in knowing that whether they are performing in required manner or not. The review of these evaluation helps in knowing evaluating that they are moving in the right direction and soon attain their set targets with the use of their plan (Ahmed, et. al., 2016).

The implementation of the prepared plan make effective changes in the financial position of the Dick Smith foods as they arrange effective funds to support their plan. They get funds from different sources according to their requirement so that they support their desired objectives. The inflow of finance increase the share of their finance and enhance their financial position in the market. They become capable enough in supporting their objectives (Ahmed, et. al., 2016).

Assessment 2 - Project

Part A

1. Detail what authorities/ personal/ sources you would have to consult with to ensure the financial data provided is accurate and complete. How would you reconcile the financial data to confirm accuracy?

Internal auditors and financial manager get consulted in order to make sure that the provided data is accurate and complete. They are the one who evaluate and measure all the figures recorded by the management. With the help of the auditor's report the accuracy level of financial data get confirmed. All the recorded figures are cross checked by them at the time of audit that helps in maintaining the accuracy level of their financial data (Tan, et. al., 2014).

2. Undertake a vertical analysis of the A2Z consolidate income statements for the years ending 1 July 20XX and 30 June 20X(X+1)

As per the consolidate income statement below is the vertical analysis is made such as: -

The revenue earned with the sales is $1,319,670,000 out of which cost of sales get deducted of amounting $992,828,000 in order to get the gross profit which is $326,842,000. There is other income of amount $969,000 (Tan, et. al., 2014).

There are few operating expenses that need to be deducted in order to get the profit before tax such as marketing and sales costs ($112,935,000), occupancy and rental expenses ($93,288,000), administration costs ($57,287,000), finance costs ($4,111,000) and other expenses ($6,811,000).

By deducting these expenses from the gross profit and other income the profit before tax is attained which is $53,379,000 from which income tax is deducted of amounting $15,474,000. The amount which is attained after this deduction is $37,905,000 and it is net profit for them. There are some other comprehensive income are there such as: - There is loss of $1,149,000 due to the exchange difference on translating foreign operations and net fair value gain over hedging instrument of amounting $647,000. Along with these there is also deduction of net of tax of amount $502,000 and after making addition and deduction of these amounts the total comprehensive income for the year is $37,403,000 (Tan, et. al., 2014).

3. Complete a Profit and Loss report for year ending 30 June 20XX as well as a debt-to-equity ratio for the 2008 financial year.

As per the available information it is analysed that they get the adequate level of profits with the help of their activities and effective operational management. There is adequate increase is noted down in their profit earning capacity as they earn nearly just double to their last year's profit share (Alin-Eliodor, 2014).

Below is the debt to equity ratio such as: -

Debt to equity ratio = Debt/Equity

Debt = $22,847,000

Equity = $169,147,000

Debt to equity ratio = $22,847,000/ $169,147,000

Debt to equity ratio = 0.1351 or 0.14 (Alin-Eliodor, 2014)

4. Using appropriate ratios and financial data from the Annual report provide an environmental and further financial analysis of A2Z Group - any suspected problem area should be highlighted.

Appropriate ratio calculations such as: -

S. No.

Ratios

Calculations

Result

1

Current ratio

 

 

 

Current assets/Current liabilities

389,979/ 316,527

1.23

 

 

 

 

2

Qucik ratio

 

 

 

Quick assets/ Current liabilities

96,935/316,527

0.31

 

 

 

 

3

Gross profit ratio

 

 

 

Gross profit/ net sales * 100

326,842/1,313,670

24.77%

 

 

 

 

4

Net profit ratio

 

 

 

Net profit/ net sales * 100

37,905/1,313,670

2.87%

(Alin-Eliodor, 2014)

Analysis: -

On the basis of the above ratio calculation it is observed that they make effective sales but they get revenues at the rate of 24.77%. They need to enhance their capability of getting effective revenues and for this purpose they need to lower down their cost. Along with this they manage to get the profits after deducting their operational expenditures. By looking at their current financial position it is observed that they only manage to meet out their current liabilities but they not having liquid funds to meet out their current liabilities (Puri, 2014).

There is one suspected area is identified that is Inventory. The share of inventory in their current assets is so high that its exclusion shows that they don't have sufficient funds to meet out their current debts or liabilities and this factor need to be reconcile so that they improve their performance (Puri, 2014).

5. Assess the statement of cash flows in the Annual report - Explain why there was a significant decrease in the cash at the end of the year ending 30 June 20XX compared with the previous financial year

The statement of cash flows having three sections such as cash flows from operating activities, investing activities and financing activities. The cash flows from the operating activities is adverse as they get ($3,940,000), cash flows from the investing activities is also adverse as they get ($31,615,000) but they get positive cash flows from their financing activities amounting $35,024,000. There is deficit of amount $531,000 (Schmidlin, 2014).

There is decrease in the cash balance as compare to their last year's balance and the difference is of amounting $433,000. There is decrease in the cash balance due to the adverse results attained in the cash flows from operating activities. They need to make effective level of improvements in order to increase their efficiency that helps in controlling unnecessary expenditures and results into getting positive balance (Schmidlin, 2014).

6. Based on the above analysis, comment on the financial performance of A2Z in the last financial year - specifically on the following aspects:

Profitability: They make average performance in order to get the profits. The ratio of their net profit attain is 2.47% which is just satisfying the need of the business activities. They are not operationally efficient in order to manage their expenditure. They are not performing their activities accordingly due to which they are not performing well (Schmidlin, 2014).

Financial stability: They didn't attain the stable financial situation as they are not performing accordingly that helps in getting stable situation. They are not having sufficient balance with them in order to meet out their current liabilities. They run their routinely business activities with the help of the short term debt and in order to meet out these debts they don't attain sufficient funds with them (Schmidlin, 2014).

Efficiency: They are not having effective operational efficiency due to which they didn't attain high profits. They need to make effective improvements in their operational efficiency so that they enhance their overall performance that help them in reducing their production cost as it helps in getting high revenues and helps in reducing expenses that results into increase in the profit share (Schmidlin, 2014).

7. Lastly, assess the financial position of A2Z Group Ltd. using the financial data provided in the 20XX financial report. Comment on what funding requirements would be required in the future to continue the same rate of growth over the last financial year. Also list the statutory obligations of the company.

The financial position is not so good as they are lacking funds in order to meet their current liabilities. As per the statement of financial position it is measures that their cash and cash equivalent balances get decreased and there is increase in the balances of trade and other receivables and inventories that shows that they have shortage in their funds. Along with this there is increase in the balance of borrowings because as per the last year's statement there is no amount of borrowings but this year there is a balance of $70,500,000 under current liabilities. The increase in the current liabilities section increases the risk factor of the organisation. They need to increase their sales revenues so that get utilised for the purpose of repayment of their debts and also run their business activities with their earned revenues. It is necessarily required in order to enhance the capability of the business organisation (Schmidlin, 2014).

The statutory obligations are as follows such as: -

1. Filing of documents
2. Maintain books and register
3. Share register
4. Maintain Company records
5. Maintain Accounting records
6. Show registered office address
7. Particulars of Directors
8. Report of Annual meeting
9. Record of appointment of Auditors
10. Need to file annual return
11. Record of Issue of Share
12. Record of distribution to shareholders (Robinson, et. al., 2012)

Part B

1. Include all the relevant analysis from task 2 Part A for A2Z, prepare detailed report on financial performance for the year ending 30 June 20XX

As per the current year's results it is observed that there is effective improvement is noted down in their overall performance. There is not so much increase in their sales and gross profit ratio but they shows effective level of improvement in their operational activities that helps in getting adequate level of profits. The current year's profit is not so much attractive but then also it is satisfying because they get the almost double profit share as compare to their last year's profit.

There is increase in the cash outflows as they make huge payments to their suppliers and employees as compare to their last year's balance. There is also effective increase in the interest and other costs paid by them. This year they also pay high tax as compare to last year. These increase in payment lead towards adverse cash balances. On the other hand there is also adverse balance is noted down from investing activities as they make payments in context to plant and equipment. Due to the further borrowings there is effective increase in the cash from financing activities that increase their debt share (Grimm & Blazovich, 2016).

2. Make sure in addition to the financial analysis you include the following in your report:

a.) Discuss compliance protocols in place - are they sufficient to meet statutory requirements? Do they meet all the corporate governance principles?

They effectively meet out their statutory requirements as they maintain adequate record of all their activities whether it is issue of shares or distribution to shareholders, they prepare report over their annual meeting and maintain proper records of all other requirements.

They effectively meet out corporate governance principles as they pay the taxes on regular basis and for preparing financial statements they make use of the guidelines rendered by the IFRS and GAAP. By following all these guidelines they prepare their statement in the vertical format as it provide understandable information. They prepare working notes so that readers get the effective information related to the adjustments made in the financial statement (Cartney, 2011).

b.) Outline reporting and lodgement timeframes for the business year.

For A2Z the reporting and lodgement timeframes for the business year is every quarter. They pay the taxes in the 28th of the month following the end of quarter such as 28th October, 28th January, 28th April and 28th July. For filing fringe benefit tax return they need to lodged electronically till 25th June or for non-electronically submission made in 21st May. They need to file annual GST return till 2nd March (Cartney, 2011).

c.) Choice of formats for presentation of information to clients

The information is presented in the form of the consolidated financial statements. These statements get prepared in the vertical format that helps in rendering adequate information that helps in making better understanding over the activities and different transactions. For the made adjustments in the consolidated financial statements they also prepare working notes that render detailed information related to the adjustments made in the financial statements (Cartney, 2011).

3. Research and comment on the following:

a) What are the financial risks that should be considered - e.g. Debtor default, stability of global economy, operating costs etc.

There are various financial risks are considered such as: -

Debtors default: With the increase in the credit sales there is effective increase in the chances of bad debts which create effective level of risk related to the loss of their liquid funds that directly impact the financial position of the organisation.

Stability of global economy:With the fluctuation increase in the stability of the global economy there is effective increase in the financial risk. These risks make inclusion of the change in the interest rates of the investments as it get lower and the rates of loans and other debts get increased. The availability of finance get reduced (Shields, 2012).

b) For the above risks, outline options for contingencies - e.g. Insurance options, investment options etc.

With the effect of the above risks there are several contingencies are associated with it. In case of debtors default organisation choose the insurance option in order to cover the bad debts amount. With the help of the insurance option they effectively lower down the risk that reduces the amount of total bad debts.

In case of the stability of the global economy they need to make effective investments in different options that helps in getting adequate sum at the time of need and didn't put much impact over their processing at the time of the fluctuations (Shields, 2012).

4. Give advice on how A2Z can ensure they do not have another similar loss of cash at the end of the next financial year

A2Z need to improve their operational efficiencies as they took lots of supplies on credit and their payment lower down the cash balance. It also impact the availability of finance and it also impact their financial position because they attain lots of inventory with them. If they make adequate share of credit purchases results into lower down the payment and helps in attaining effective cash balance that strengthen their financial position (Shields, 2012).

On the other hand they also make purchases of the plant and equipment and pay the amount in cash only. With this effect the share of liquid funds get lower down and they not able to maintain adequate level of funds. Instead of making cash payment for the plant and equipment A2Z need to chose lease option or hire purchase option that provide an option of paying small amount against the use of equipment for an specific time period (Shields, 2012).

By following these options A2Z can ensure that they didn't get the similar loss of cash at the end of the next financial year (Shields, 2012).

5. Include a detailed section on the rights and obligations of A2Z management - ensure you include: -

a.) All relevant laws, i.e. corporation law, legislative protection, contract law, privacy law, taxation legislation etc.

A2Z management effectively follows the right and obligations that get implied over them in the form of corporation law, contract law, privacy law legislative protection and taxation legislation. They effectively prepare their financial statement by following the set standards by the IFRS and GAAP that helps in making effective communication related to their financial performance, they maintain their privacy in order to safeguard the information related to their suppliers and other clients. They build effective contract with different suppliers in order to sign various different terms and conditions so that they effectively perform their activities in smooth manner. They make timely payment of their taxes by following the taxation legislation. Their management follows all implied laws, rules and regulations in order to avoid any kind of legal issues against them (Cucchiella, et. al., 2015).

6. Conclude with a list of alternative sources of short and long term investments giving a brief description of each

List of alternative sources of finance on the basis of the time duration such as: -

Short term sources such as: -

Checking accounts:These are such accounts that get maintained in order to write and deposit checks, access ATMs and arrange funds for automatic transactions such as bill payments (Ho & Cheng, 2016).

Saving accounts:These are such accounts over which bank pays low interest rates and it is the safest place in order to store more on temporary basis and helps in managing personal finance.

Money market accounts:These are much similar to the checking accounts but having limited transactions.

Money market funds: It is an liquid investments that offer high rate of returns and these get managed by brokerages. The level of risk is extremely low (Ho & Cheng, 2016).

Certificates of Deposits: These are sae investments and it also renders high rate of return in exchange of invested money for the duration of the maturity of certificate.

Long term sources such as: -

Bonds: It is an excellent long term investment as they are less volatile as compare to stocks on an average. They have 10 year or more maturity date that helps in getting better return.

Blue chip stocks: For long term investment it can be termed as effective and in long term stock market shows growth that helps in attaining effective profits (Ho & Cheng, 2016).

Investment properties: Investment in properties such as commercial real estate or land and etc. considered as one of the best long term investment.

DRIPs or Dividend Reinvestment Plan: -It is also an one of the most effective long term investment plan that helps in attaining adequate level of returns at the time of maturity (Ho & Cheng, 2016).

References

Ahmed, A.D., Dr & Bruce, K., Mr 2014;2016;, Conceptions of Professionalism: Meaningful Standards in Financial Planning, New edn, Gower, Farnham.

Alin-Eliodor, T. 2014, "Financial Statements Analysis",Journal of Knowledge Management, vol. 4, no. 5, pp. 62-73.

Bruce, K. & Gupta, R. 2011, "The financial planning education and training agenda in Australia", Financial Services Review, vol. 20, no. 1, pp. 61.

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Cartney, D. 2011, The financial analysis & cashflow for practicing accountants, Thomson Reuters, Pyrmont, N.S.W.

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Schmitz, M. 2014;2013;, "Financial remoteness and the net external position", Review of World Economics, vol. 150, no. 1, pp. 191-219.

Shields, Y. 2012, "Chicago's Annual Financial Analysis Shows Challenges Ahead", The Bond Buyer, vol. 121, no. 33763.

Smark, C. 2014, "Editorial: AABFJ Volume 8, Issue 4 Special Issue in Financial markets and financial Instruments", Australasian Accounting Business & Finance Journal, vol. 8, no. 4, pp. 1-2.

Smith, D. 2011, Dick Smith's population crisis: the dangers of unsustainable growth for Australia, Allen & Unwin, Crows Nest, N.S.W.

Stein, M. 2013, "When Does Narcissistic Leadership Become Problematic? Dick Fuld at Lehman Brothers",Journal of Management Inquiry, vol. 22, no. 3, pp. 282-293.

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