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Financial Management assignment .

Question 2

Question 2 Critically evaluate and explain Shareholder wealth is the most important objective within financial management, also consider what other objectives may be important from a shareholder perspective.Consolidated statement of financial position As at 31 December 2021 US$ million Notes 2021 2020 Assets Non-current assets Property, plant and equipment 43,159 47,no Intangible assets 6,235 6,467 Investments in associates and joint ventures 12.294 12,400 Other investments 1,620 1,733 Q WON= =06 Advances and loans 3,527 3,042 Other financial assets 458 1,106 Inventories 662 678 Deferred tax assets 1,779 2,252 69,734 74,788 Current assets Inventories 28,434 22,852 Accounts receivable 19,493 15,154 Other financial assets 4,636 1,998 Income tax receivable 364 444 Prepaid expenses 287 220 Cash and cash equivalents 3,241 1,498 56,455 42,166 Assets held for sale 16 1,321 1,046 57,776 43,212 Total assets 127,510 118,000 Equity and liabilities Capital and reserves - attributable to equity holders Share capital 17 146 146 Reserves and retained earnings 39,785 37,491 39,931 37,637 Non-controlling interests 34 (3,014) 13.235 Total equity 36,917 34,402 Non-current liabilities Borrowings 26,871 29,227 Deferred income 2,088 2,590 Deferred tax liabilities 4,469 4,72 NNBONN Other financial liabilities 710 688 Provisions 6,177 5,770 Post-retirement and other employee benefits' 939 1,161 41,134 44,157 Current liabilities Borrowings 7,830 8,252 Accounts payable 29,313 24,038 Deferred income 1,573 1,070 Provisions 2,093 693 Other financial liabilities 6,077 276 Income tax payable 1,785 927 48,671 39,256 Liabilities held for sale 16 788 185 49,459 39,441 Total equity and liabilities 127,510 118,000 In the current year, post-retirement and other employee benefits have been disaggregated from provisions. The prior year balances have been restated to conform with current year presentation. The accompanying notes are an integral part of the consolidated financial statements.Appendix 1 Consolidated statement of income For the year ended 31 December 2021 US$ million Notes 2021 2020 Revenue 3 203,751 142,338 Cost of goods sold (191,370) (138,640) Selling and administrative expenses (2,715) (1,681) Share of income from associates and joint ventures 2,618 444 Loss on disposals of non-current assets (607) 36) Other income 186 438 Other expense (2,133) (617) Impairments of non-current assets (1,905) (5,715) Reversal of impairments/(impairments) of financial assets 67 (232) Dividend income 23 32 Interest income 208 120 Interest expense (1,348) (1,573) Income/(loss) before income taxes 7,375 (5,716) Income tax (expense)/credit 8 (3,026) 1,170 Income/(loss) for the year 4,349 (3,946) Attributable to: Non-controlling interests (625) (2,043) Equity holders of the Parent 4,974 (1,903) Earnings/(loss) per share: Basic (US$) 18 0.38 (0.14) Diluted (US$) 18 0.37 (0.14) The accompanying notes are an integral part of the consolidated financial statements