Toll holdings accounting and financial analysis reports

소개글

Industry and company analysis

목차

Executive Summary 3
1. Summary of Company`s Activities and Business Strategies 4
1.1 Major Activities in Last Three Years 4
1.2 Business Strategy and Development Strategy 4
2. Key Accounting Policies and Standards 5
2.1 Revenue Recognition (AASB 118) 5
2.2 Consolidated and Separated Financial Statement (AASB 132) 5
2.3 Property, Plant, and Equipment (AASB 116) 5
2.4 Foreign Currency (AASB 121) 5
3. Evaluation of Flexibility Management 6
3.1 Intangible Assets (AASB 138) 6
3.2 Inventory (AASB 102) 6
3.3 Financial Instruments (AASB 132) 6
4. Evaluation of Accounting Strategies 7
4.1Leased Non-Current Assets 7
4.2 Hedging 7
5. Evaluation of Quality of Disclosure 7
6. Potential Questionable Numbers and Their Distortions 8
7. Financial Press Discussion of TOL`s Performance and Accounting Numbers 9
References 10
Appendix 1: TOL - Annual Report 2008 : Balance Sheets 11
Appendix 2: TOL - Annual Report 2008 : Statements of Cash Flow 12
Appendix 3: TOL - Annual Report 2008 : Intangible Assets 13
Appendix 4: TOL - Annual Report 2008 : Expenses 15
Appendix 5: TOL - Annual Report 2008 : Payables 16
Appendix 6: TOL - Annual Report 2008 : Acquisition and Disposals 17
Appendix 7: TOL - Annual Report 2008 : Significant Accounting Policies 18
Appendix 8: TOL - Annual Report 2008 : Commitments for Expenditure 19
Appendix 9: TOL - Annual Report 2008 : Financial Instruments 20

본문내용

EXECUTIVE SUMMARY
The following report conducts the accounting analysis of Toll`s Holdings Ltd (TOL) operation activities. The analysis is based on TOL`s Annual Report data for the 2007-2008 financial period which reveal company`s business performance, accounting strategies, and achievements. The company operates an extensive network throughout Australia, New Zealand and Asia delivering seamless, end-to-end, local, regional and global supply chain solutions. The first section of report starts with a brief company`s profile and identification of basic recent business strategies and activities implemented within the company. Next two sections indentify key accounting




4. Evaluation of accounting strategies
4.1 Leased Non-Current Assets
Toll has large amount of Non-current assets, such as properties, plants and equipments (PPE); sizable proportion of total PPE is under lease contracts. However, the commitments for expenditure of PPE lease decreased from A$1,180.7m (2007) to A$781.5m (2008), according to notes 31 of Toll`s annual report 2008; this decrease may indicate that the company 3 purchased more PPE than proceeded with lease payments. As mentioned in section above, the company depreciates PPE over the shorter of the lease term for purpose of keeping ownersh

참고 자료

Australian Securities Exchange 2008, Australian Securities Exchange Listing Rules – Chapter 3 Continuous Disclosure, viewed 11 January 2009, <http://www.asx.com.au/ListingRules/chapters/Chapter03.pdf>.
Coleman, D. 2008, Toll Holdings Gives Up Virgin Blue Shares, Australian Broadcasting Corporation, Lateline Business, 14 July 2008, viewed 10 December 2008, <http://www.abc.net.au/lateline/business/items/200807/s2303599.htm>.
Hong Kong Monetary Authority 2008, Economic and Financial Data for Hong Kong – Overnight HIBOR, viewed 10 January 2008, <http://www.info.gov.hk/hkma/eng/statwistics/msb/index.htm>.
Hopkins, P. 2008, ‘Toll books loss over Virgin Blue’, The Sydney Morning Herald, 26 August, viewed 10 December 2008, < http://business.smh.com.au/business/toll-books-loss-over-virgin-blue-20080826-42kn.html>.
InvestSmart 2008, ‘Toll Holdings Limited (TOL)’, viewed 10 January 2008, <http://www.investsmart.com.au/shares/asx/Toll-Holdings-TOL.asp>.
Mawson, M. 2007, ‘Winner # 3 Business & Manufacturing’, The Bulletin Bayer Smart 100 2007, special ed. with Newsweek, June 26, pp. 53-55.

Monetary Authority of Singapore 2008, Singapore Overnight Rate Average, viewed 10 January 2008, <http://www.mas.gov.sg/data_room/msb/domestic_interest_rates.htm>.

Palepu, K., V. Bernard and P.Healy, Business Analysis & Valuation Using Financial Statements, 3rd edition, Cincinnati, Ohio: South-Western College Pub., 2003
The Age 2008, Toll sells NZ rail and ferry operations, viewed 11 December 2008, <http://news.theage.com.au/business/toll-sells-nz-rail-and-ferry-operations-20080505-2ayh.html>.
The Australian Competition and Consumer Commission 2008, Toll Holdings Limited - Acquisition of Courier Australia, viewed 10 January 2008, <http://www.accc.gov.au/content/index.phtml/itemId/832935/fromItemId/751043>.
The Australian Competition and Consumer Commission 2008, Toll Holdings Limited - Acquisition of Westrans Freighters Pty Ltd, viewed 10 January 2008, <http://www.accc.gov.au/content/index.phtml/itemId/809087/fromItemId/751043>.
Transport and Logistics News 2008, Toll Refinances, Still Wants Brambles, viewed 10 January 2008, <http://tandlnews.com.au/2008/10/30/article/KUDCDQIHMP.html>.
Winters, J. 2008, Toll on track for strong growth, Livenews, viewed 10 January 2008,
<http://www.livenews.com.au/Articles/2008/10/30/Toll_on_track_for_strong_growth>.