Pg 746Chapter 17Financial Analysis ACC 701Assignment 1Refer to the latest financ

Pg 746Chapter 17Financial Analysis ACC 701Assignment 1Refer to the latest financial report to JB Hi-Fi Limited on
its websitewww.jbjifi.com.au and answer
the following questions:1.From the
nature of the report JB Hi-Fi Limited is a reporting entity. Why is this so?2.Who would
you consider to be the main user of JB Hi-Fi Limited financial report? What types of decisions would they make based
on the information contained in the report?3.Does JB
Hi-Fi Limited use the historical cost system or some other method of valuing
assets? Is there any evidence that the company has revalued any of its assets
in the past 12 months? Explain.4.In the
report a summary statistical analysis is often presented. What is the importance
of the statement of accounting policies in interpreting these figures? Do you
consider that the figures would be of benefits to users of the report?5.What
evidence is there of the application of the materiality concept in the report?Hogget J Edwards L Medlin J and Tilling M Accounting(Wiley 8th
edition 2011)