Question

Hi there,

I am doing WESTPAC BANKING CORPORATION and Select the latest year for review.

My question is "What was the retained profit for the year? Has the company taken any borrowings, i.e. loans, debentures, etc.?"

Can you give me the references of the statement, please? For example: Heidarkhani, A., & khomami, A.A, & Jahanbazi, Q.,& Alipoor, H. (2013). The Role of Management Information Systems ( MIS ) in Decision-Making and Problems of its Implementation, Universal Journal of Management and Social Sciences, Vol. 3, No. 3, pp. 78-89

Thanks so much

Answer 1

1.The retained earnings is the accumulated net income of the organisation that is earned and retained by the organisation at the end of the reporting period. At the end of that period, the net incomes (profits or net loss) at that point is transferred from the Profit and Loss Account to the retained earnings account. If the balance of the retained earnings account is negative it may be called accumulated losses, retained losses or accumulated deficit, or similar terminology.
Retained earnings are reported in the shareholders' equity section of the corporation's balance sheet. Corporations with net accumulated losses may refer to negative shareholders' equity as positive shareholders' deficit. A report of the movements in retained earnings are presented along with other comprehensive income and changes in share capital in the statement of changes in equity.
Retained earnings = opening retained earnings + current year net profit from p&l a/c - dividends paid in current year

2.There is increase of 5% in deposits and borrowings and increase of 3% in debt issues.