Analysis Of Annual Report Of Bendigo And Adelaide Bank For Fy 2016

The title of the report is the analysis of the annual report of the company – Bendigo and Adelaide Bank. The annual report of the company consists of the financial statements of the company and the director’s report and the independent auditor’s report. The financial statements of the company tells about the financial performance of the company that it has gained during the reporting period and the financial position of the company that it has maintained at the end of the reporting period. Both the aspects go and work simultaneously and will inform about the working and functions of the company. The main aim of this report is to analyze the annual report of the company with respect to certain issues like assets and debts which will equip the users of the financial statements of the company including the stakeholders of the company about the working details of the company and to assess whether the company is working as desired by its stakeholders. With this consideration and the aim the report has been bifurcated into different section starting from the historical background of the company. After that the financial position of the company has been analysed by considering the balance sheet at the end of the reporting period. Thereafter the financial performance of the company has been analysed by considering the statement of profit and loss for the given reporting period. At the end the report has been ended by citing the conclusion stating the overall findings and the recommendation stating whether the stakeholders shall invest in this company. The company has its history started in the long back in late years of 1850’s. The company has been incorporated in the year of 1858 as Bendigo Mutual Permanent Land and Building Society to help the people who are migrating from Victoria to give them the better living and the better working conditions. After twenty years of the society formation, in the year of 1877 another society was formed namely Hind marsh Building Society which has only one aim of providing home to everyone who is in Australia. With this aim the society so created has gained the importance from many people. With the passage of the time, the society goes on growing and keeps on merging and acquiring the other societies and in the year 1982, Bendigo Building society has come up as the first financial institution which has introduced both visa and credit cards. In the year of 1993, Bendigo building society acquires the company namely National Mortgage Market Corporation Limited which is engaged in the busines s of mortgage and providing the introducers for the loans and acting as the brokers for arranging the loans. In the years of late 1990’s the company with the development in the field of banking has converted its name from the bendigo building society to Bendigo Bank (Intelligent Investor, 2017).   Bendigo bank opened its first branch office in Victoria and then has focused on the infrastructure projects of the country including the agricultural related business. The company has also been known as the company which has brought the account for offsetting the mortgage. This product has now standardized in the country of Australia. With this expansion and the growth in the business sector, the company in the year of 2007 has rejected the proposal from the Bank of Queensland for having the merger and merged with the well known bank namely Adelaide Bank. Soon after merging with the bank, the company with the approval of the members and shareholders of the company, the company has changed its name from Bendigo Bank to Bendigo and Adelaide Bank (Company Official Website, 2016). With this merger, the existence of the Bendigo and Adelaide bank has come and is now regarded as the fifth largest retail bank in the Australia employing more than 70000 employees across its all branches and serving millions of the customers across Australia for achieving their financial goals.   Ã‚  Ã‚   The financial position of any company is analyzed by critically evaluating the balance sheet of the company. The balance sheet of the company is prepared on the particular date therefore the financial position of the company has been analysed as on 30 th June 2016 (Company Official Website, 2016). There are also other issues like financial assets held for sale, trading and maturity, met loans and other receivable and the investment made in property plant and equipment and also the risk factors that have been mentioned separately in the annual report.   Ã‚  Ã‚  Ã‚  Ã‚   The financial performance of the company is analysed from the statement of income for the financial year ending 30 th of June 2016. Following issues have been identified (Company Official Website, 2016): Thus, apart from the above issues there other financial performance issues like Net Profit and the income tax expense, etc.  Ã‚  Ã‚   The banking industry plays very important role in not only the development of the country but also the development of the individuals by keeping their money safe and providing the interest on their funds and more importantly funding the company which requires for the development of any project which may be infrastructural or financial like agricultural related project or dam building project. Thus, in this way, the banking industry plays very important role in the development. The report has laid down how Bendigo and Adelaide bank has been formed and how the same have grown over the past 158 years at the increasing rate and still have the position of having more developments in the future. The report has analyzed the financial position and performance of the company and thus it is concluded that the report has raised the financial issues with regard to its recognition and presentation in the financial statements. It is recommended that the shareholders should invest and the stakeholder’s shall take interest in the company and shall make their decisions accordingly. Company Official Website, (2016), â€Å"Annual Report 2016†, available on https://www.bendigoadelaide.com.au   accessed on 23/05/2017. Intelligent Investor, (2017), â€Å"Bendigo and Adelaide Bank (BEN)†, available on https://www.intelligentinvestor.com.au/company/Bendigo-and-Adelaide-Bank-Limited-BEN-249121   accessed on 23/05/2017. accounting