Caltex Australia Limited for National Truck Network -myassignmenthelp

Question: Discuss about theCaltex Australia Limited for National Truck Network. Answer: Introduction In this report a brief analysis of the Caltex Australia Limited will be taken to provide the summarized information on company various services, strategies and financial performance. Also some information related to the quality of disclosure made by the company in its annual report has been provided. Company Activities and Strategies Caltex operates as of the largest oil company in retail network of Australia but the supermarkets Woolworth and Coles have larger market share as any of the Australian company. Caltex provides various retail oil transport services to their valuable customers. Some of the services provided by the Caltex are Bull deliveries, On Site refueling, National Truck Network, Telematics, Marine, myCaltex and Soil Remediation (Business Services, 2017). Caltex is strengthening its position as the leader in Australia to transport fuels to the diverse range of customers through providing high quality services and convenience as when desired. Company uses integrated supply chain network for providing services from the source station to customers. Caltex aims to be leader but not follow others through redefining what customers expects and through placing the beliefs on the crossroads of what are needs of today and what can be achieved tomorrow (Annual Report, 2016). In year 2016, company has invested very high amount in the service modal that has increased capacity and other capabilities of the existing modal. Brief summary on the financial performance In the operating year 2016 company has recorded the after tax profits of $610 million AUD and in year 2015 it was $522 million AUD. In year 2017 (Half Year Results) company has earned the NPAT of 307 million AUD which is up by 21 % as the previous year half year result. It shows the very high increase in the net profit after tax of the company (Half Year Report, 2017). There has been decrease of total expenses due to lower replacement cost of goods sold due low price of refined products. All the cash generating units of the company has performed exceptionally well that has created a value to the customers and also increases the profit earning capacity of the company (Annual Report, 2016). Quality of financial disclosure made in the accounts The company financial statements have been prepared in accordance with the requirements of the Australian GAAP. It complies with the requirement of the Corporation Act and Australian Accounting Standards (AASBs). The annual report of the Caltex Corporation has been prepared to make compliance with the requirements of the International Financial Reporting Standards (IFRSs) that are defined by the International Accounting Standards Board (IASB). So it can be said that company has kept all the compliance of the defined accounting standards and conceptual framework as mentioned in the IFRSs. In the annual report of year 2016 and half year report of year 2017 shows that company has made all the disclosures regarding the assumptions taken and accounting policies followed. For example, revenue from sale of goods has been measured at the fair value of consideration received of receivable, detail information of various segments in the segment reporting segments (Annual Report, 2016). Conclusion All the financial information disclosed by the Caltex Australia Limited is as per required accounting standards that shows that quality of disclosures are kept at the international standards. References Annual Report. 2016. Caltex. [Online]. Available on:https://www.caltex.com.au/our-company/investor-centre/reports-and-presentations [Accessed on: 11 October 2017]. Business Services. 2017. [Online]. Available on: https://www.caltex.com.au/our-solutions/business-services# [Accessed on: 11 October 2017]. Half Year Report. 2017. Caltex. [Online]. Available on:https://www.caltex.com.au/our-company/investor-centre/reports-and-presentations [Accessed on: 11 October 2017].