Consolidation – estimations

This is another concept which I have learned and has enabled me greatly to understand the financial statements in the case of Woolworths. It is refereed to as the company and the consolidated statements are those of the whole entity. That is, Woolworths limited and its controlled entities such as subsidiaries and associates. Subsidiaries are the entities in which Woolworths has the power directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Associates are those entities over which the consolidated entity exercises significant influence, but not control.

The treatment of subsidiaries is quite different from that of associates. Estimations – these are the provisions in the income statements, balance sheet and statement of shareholder equity. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into consideration the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. Reference: WOW, Woolworths Ltd (2006). Financial statements.

References

  • Website:www. woolworths. com. au Appendix WOW, Woolworths Ltd – 2006 – Financial Statements Financial Statements Five

 

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyStudyWriters
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Business and administrative studies
Excellent work ,always done early
Customer 452773, February 21st, 2023
ACC/543: Managerial Accounting & Legal Aspects Of Business
EXCELLENT JOB
Customer 452773, January 10th, 2024
History
Don't really see any of sources I provided, but elsewise its great, thank you!
Customer 452697, May 8th, 2021
Nursing
I just need some minor alterations. Thanks.
Customer 452547, February 10th, 2021
Business and administrative studies
always perfect work and always completed early
Customer 452773, February 21st, 2023
Business and administrative studies
Excellent job
Customer 452773, March 9th, 2023
Management
Love this writer!!! Great work
Customer 452597, April 5th, 2021
English 101
IThank you
Customer 452631, April 6th, 2021
Business and administrative studies
Thank you for your hard work
Customer 452773, October 19th, 2023
Business Studies
Thank you very much for a good job done and a quick turn around time.
Customer 452615, March 31st, 2021
Leadership Studies
excellent job
Customer 452773, August 3rd, 2023
Business and administrative studies
excellent job! got an A, thank you
Customer 452773, May 24th, 2023
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp