Harvey Norman
Harvey Norman Holdings Limited
Group case study
[pic]
Tutor: Dr. Mahesh Joshi
Group members: JIN CHEN 3350416 MINGFENG CHI 3316768 JINGHAN REN 3365087
TABLE OF CONTENTS
Executive summary 3
Introduction 4
Source of Finance and financial segments 4
Industry and competitor analysis 5
Key highlights of financial and operational performance 5
Highlights and change of financial performance 5
Highlight of operational performance 5
Change in accounting policies 6
Assets – PPE and Intangibles 6 leased assets and liabilities 9
Auditor and auditor report 11
Reference 13
Executive summary
Harvey Norman Holdings Ltd, a public company, is one of the most successful retail companies in Australia. They use a unique franchise model with granting franchises to independent business operators, and there are approximately 700 franchisees in Australia. As a retailer, their products include electrical, bedding, computers & communications, bathrooms & home improvements, furniture, small appliances, carpet & flooring and lighting. In recent years, the company has begun expanding the international market, and there are an increasing number of Harvey Norman stores in New Zealand, Ireland, Slovenia, Malaysia and Singapore.
The aim of this report is to show an overview of Harvey Norman’s business based on the 2011 Annual Report of Harvey Norman. This report will mainly focus on their core business, industry, operating activities, financial performance, PPE & intangible and leased assets & liabilities. Finally, independent auditor’s report will discuss their compliance with the AASB standard.
COMAPNY
Introduction
Being a leader in retail stores of electrical, computer, furniture, entertainment and bedding goods, Harvey Norman was founded in
Group case study
[pic]
Tutor: Dr. Mahesh Joshi
Group members: JIN CHEN 3350416 MINGFENG CHI 3316768 JINGHAN REN 3365087
TABLE OF CONTENTS
Executive summary 3
Introduction 4
Source of Finance and financial segments 4
Industry and competitor analysis 5
Key highlights of financial and operational performance 5
Highlights and change of financial performance 5
Highlight of operational performance 5
Change in accounting policies 6
Assets – PPE and Intangibles 6 leased assets and liabilities 9
Auditor and auditor report 11
Reference 13
Executive summary
Harvey Norman Holdings Ltd, a public company, is one of the most successful retail companies in Australia. They use a unique franchise model with granting franchises to independent business operators, and there are approximately 700 franchisees in Australia. As a retailer, their products include electrical, bedding, computers & communications, bathrooms & home improvements, furniture, small appliances, carpet & flooring and lighting. In recent years, the company has begun expanding the international market, and there are an increasing number of Harvey Norman stores in New Zealand, Ireland, Slovenia, Malaysia and Singapore.
The aim of this report is to show an overview of Harvey Norman’s business based on the 2011 Annual Report of Harvey Norman. This report will mainly focus on their core business, industry, operating activities, financial performance, PPE & intangible and leased assets & liabilities. Finally, independent auditor’s report will discuss their compliance with the AASB standard.
COMAPNY
Introduction
Being a leader in retail stores of electrical, computer, furniture, entertainment and bedding goods, Harvey Norman was founded in