Areas of its Business that seem most important or critical to me

The areas of Oz Brewing Limited that seem most important and critical to me would be the five accounting elements. Straight away after looking at the Statement of Profit or Loss and Other Comprehensive Income I was concerned. I can clearly see in the Statement that for the past three years Oz Brewing Limited was making a loss this was due to a number of factors that are mention in the Company’s Overview such as selling of subsidiaries companies, being in Administrator and being involved in legal proceedings over disagreements in an Head of Agreement with Volcan Australia Corporation Proprietary Limited.

When looking at the Statement of Financial Position, Oz Brewing Limited needs to improve their Revenues because at the moment the company has too many Liabilities and Expenses which out ways the Assets and Equity. When looking at the Statement of Financial Position for the last three years Oz Brewing Limited is clearly going backwards due to the Revenues and Expenses. In 2013 the Income was $19 807 and the Loss from Continuing Operations was $664, 662 while in 2014 the Income was $3 192 and the Loss from Continuing Operations was $992 156. This meant that between the two financial years the company’s revenues decreased by $16 615 and the Loss from Continuing operations increased by $327 494. Which leaded to Oz Brewing Limited in the Financial Year ended 20 June 2014 have a total Equity of $-182 295. If the company continues to trade like it has been Oz Brewing Limited will be placed into Administrator again before the Year Ending 30 June 2015.

This information was acquired from the following sites:

·         2014 Annual Report for Oz Brewing LTD