Toll holdings accounting and financial analysis reports

소개

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

참고자료

· 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>.