Question: answer the given table based on the referrences THE A2 MILK COMPANY LIMITED References: https://www.asx.com.au/asxpdf/20220829/pdf/45dczz4srn33f5.pdf https://www.asx.com.au/asxpdf/20210826/pdf/44zqx1vz939ctf.pdf https://stocklight.com/stocks/au/consumer-staples/asx-a2m/the-a2-milk/annual-reports AccountingAdjustments DeferredTax 2021 Assets($M) = Liabilities($M) + Equity($M)
answer the given table based on the referrences
THE A2 MILK COMPANY LIMITED
References:
https://www.asx.com.au/asxpdf/20220829/pdf/45dczz4srn33f5.pdf
https://www.asx.com.au/asxpdf/20210826/pdf/44zqx1vz939ctf.pdf
https://stocklight.com/stocks/au/consumer-staples/asx-a2m/the-a2-milk/annual-reports
- AccountingAdjustments
- DeferredTax
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) |
Reported | |||||
Deferredtax | |||||
Adjusted |
Table2:Accountingadjustmentremovingdeferredtaxliabilityandincreasingequity
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | |
Profit | Others | |||||
Reported | ||||||
Assetimpairment | ||||||
Adjusted |
Table3:Deferredadjustmentincorporatingtheincomestatementeffect
- Provisions
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Provisions | Other | Profit | Other | ||||
Reported | |||||||
Provision |
DeferredTax | |||||||
Adjusted |
Table4:Taxadjustmentforthe a2 milk company limitedfor2021
Ratios | Reported | Adjusted |
Returnon assets | ||
Debtto assets |
Table5:Impactonratios in2021
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Provisions | Other | Profit | Other | ||||
Reported | |||||||
Opening | |||||||
Reverse | |||||||
Provision | |||||||
DeferredTax | |||||||
Adjusted |
Table6:Taxadjustmentforthe a2 milk company limited
Ratios | Reported | Adjusted |
Returnon assets | % | % |
Debtto assets | % | % |
Table7:Impacton ratiosin2021
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Provisions | Other | Profit | Other | ||||
Reported | |||||||
Opening |
| ||||||
Provision | |||||||
Adjusted |
Table8:Taxadjustmentforthe a2 milk company limitedfor2021
Ratios | Reported | Adjusted |
Returnon assets | % | % |
Debtto assets | % | % |
Table9:Impacton ratiosin2021
- AssetImpairment
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) |
Goodwill | Other | Profit | Other | ||||
Reported | |||||||
Impairment | |||||||
Adjusted |
Table10:Assetimpairmentadjustmentforthe a2 milk company limited
Ratios | Reported | Adjusted |
Returnon assets | % | % |
Debtto assets | % | % |
Table11:Impacton ratiosin2021
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Goodwill | Other | Profit | Other | ||||
Reported | |||||||
Opening | |||||||
Adjusted |
Table12:Assetimpairmentadjustmentforthe a2 milk company limited 2021
Ratios | Reported | Adjusted |
Returnon assets | % | % |
Debtto assets | % | % |
Table13:Impacton ratiosin2021
2020 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Goodwill | Other | Profit | Other | ||||
Reported |
Opening | - | ||||||
Reversal | |||||||
Adjusted |
Table14:Assetimpairmentadjustmentforthe a2 milk company limitedfor 2021
Ratios | Reported | Adjusted |
Returnon assets | ||
Debtto assets |
Table15:Impacton ratiosin2021
- TimingofRevenueRecognition
2021 | Assets($M) | = | Liabilities ($M) | + | Equity($M) | ||
Revenue | Expenses | Other | |||||
Reported | |||||||
Receivables/revenue | |||||||
| Inventories/cost of sales | |||||||
DeferredTax | |||||||
Adjusted |
Table16:Timingofrevenuerecognitionadjustmentforthe a2 milk company limitedfor2021
Ratios | Reported | Adjusted |
Returnon sales | % | % |
Returnon assets | % | % |
Debtto assets | % | % |
Table17:Impacton ratiosin2021
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Revenue | Expenses | Other | |||||
Reported | |||||||
Adjustment | |||||||
Opening | |||||||
Reversal | |||||||
Adjusted |
Table18:Timingofrevenuerecognitionadjustmentforthe a2 milk company limitedfor2021
Ratios | Reported | Adjusted |
Returnon sales | % | % |
Returnon assets | % | % |
Debtto assets | % | % |
Table19:Impacton ratiosin2021
- ExpenseCapitalization
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Capitalized | Other | Profit | Other | ||||
Reported | |||||||
Capitalization | |||||||
DeferredTaxation | |||||||
Adjusted |
Table20:Expensecapitalizationadjustmentforthe a2 milk company limited tfor2021
Ratios | Reported | Adjusted |
Returnon assets | % | % |
Debtto assets | % | % |
Table21:Impacton ratiosin2021
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Capitalized | Other | Profit | Other | ||||
Reported | |||||||
Opening | |||||||
Depreciation | |||||||
DeferredTaxation | |||||||
Adjusted |
Table22:ExpensecapitalizationadjustmentforAristocratfor2021
Ratios | Reported | Adjusted |
Returnonassets | % | % |
Debtto assets | % | % |
Table23:Impacton ratiosin2021
2021 | Assets($M) | = | Liabilities($M) | + | Equity($M) | ||
Capitalized | Other | Profit | Other | ||||
Reported | |||||||
Opening | - | ||||||
Depreciation | |||||||
DeferredTaxation | |||||||
Adjusted |
Table24:Expensecapitalizationadjustmentforthe a2 milk company limited for2021
Ratios | Reported | Adjusted |
Returnon assets | % | % |
Debtto assets | % | % |
Table25:Impacton ratiosin2021
- ValuingtheFirmUsingFreeCashFlowMethod
- Datacollectionandanalysis
2018 | 2019 | 2020 | 2021 | 2022 | Terminal value | |
FCFF(AU$M) | ||||||
PVfactorforFCFF | ||||||
PresentValue(FCFF) | ||||||
FCFE(AU$M) | ||||||
PVfactorforFCFE | ||||||
PresentValue(FCFE) | ||||||
Dividendspaid(AU$M) |
Table26:DataCollectionforFreeCashFlowAnalysis
Intrinsicvalue(AU$) | Equityvalue(AU$) | Valuepershare(AU$) | |
FCFF | |||
FCFE |
Table27:EvaluationfromFreeCashFlowAnalysis
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