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BILLABONG. Samantha Mowatt ACG2023.004. Executive Summary. Over the past year there has been an overall increase in Billabong industries with record highs in sales. This was a good year for Billabong stockholders and Billabong representatives plan to make the success long-term.
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BILLABONG Samantha Mowatt ACG2023.004
Executive Summary • Over the past year there has been an overall increase in Billabong industries with record highs in sales. This was a good year for Billabong stockholders and Billabong representatives plan to make the success long-term. Billabong Biz : Behind the brand
Part A. Introduction • Derek O’Neill was appointed Chief Executive Officer effective January 1, 2003 • Home Location: 1 Billabong Burleigh Heads QLD 4220 AUSTRALIA • Year ended June 30, 2006 • Billabong is a board sport-oriented business with it’s core business in the marketing, distribution, retailing, and wholesaling of apparel, footwear, accessories, eyewear, and hard goods under the Billabong, element, Von Zipper, Honolua Surf Company, Kustom, Palmers Surf, and Nixon Brands • The majority of revenue generated is in Australia, North America, Europe, Japan, New Zealand, and South America
Audit Report • PricewaterhouseCoopers Chartered Accountants 1 Eagle Street Brisbane QLD 4000 AUSTRALIA
Stock Market Information • Most recent price of Billabong’s stock is $14.24 • Trading range of June 30, 2005 thru June 30, 2006 • 23.5 cents per fully paid share • Above information dated October 11, 2005 • In my opinion stockholders should sell shares because the season is changing and even though 2006 was a successful year, Billabong’s sales are highest during the warmer seasons.
Industry Situation and Company Plans • In the future outlook Billabong representatives plan to increase the industry on a more long-term basis. In addition, improvements in European, as well as, worldwide sale is also a goal.
Income Statement • Single-step format There was a steady increase from 2005 to 2006
Balance Sheet Total assets in 2006 increased from 2005; however, there was also a substantial increase in total liabilities
Accounting Policies • Executives plan to increase liabilities; however, in the end these liabilities will show for further profits • In the financial statements, the issues of liabilities are definitely a concern