Woolworths has been one of the important consistent and successful retailer in Australia with the adoption of various strategies like the ‘fresh food people’ and the ‘everyday low prices.’ Net operating cash flows show an increasing trend and also the firm has been paying higher interim dividends to its shareholders each year. The firm has witnessed a 10.1% increase in net profits after tax and an 8.8% increase in earnings per share according to its financial reports. There has been an efficient management of balance sheet and profit and loss statements and approximately $8.2 billion has been paid to shareholders.
Wesfarmers is one of the largest retailers and listed firm in Australia and has retail operations in supermarkets, general merchandise, fuel and liquor operations etc. Wesfarmers has reported an increase of 15.8% earnings growth in 2010, as compared to 2009, with Cole’s supermarket alone delivering a 21% growth.
a) Budgetary processes that exist in two of the Australian Public Companies:
Budgetary process is used for formulating budgets by referring to certain principles, procedures and practices. This process should involve people at different levels in the preparation of a budget. It requires careful planning and appropriate fixation of authority and responsibility. ...