Current Assets and Current Liabilities

Current Assets and Current Liabilities. Prior to beginning work on this discussion forum, read Chapter 9 in the course textbook, Using Financial Accounting Information: The Alternative to Debits and Credits.
Using the same company (BHP) and annual reports that you chose for your Week 1 – Discussion Forum, Reading and Using the Annual Report Case Study,
Calculate the current ratio and quick ratio for the latest two years, obtain the industry average ratios from the IBISWorld database, available through the UAGC Library, or another outside resource of your choice, and analyze the results.
Discuss what each of these ratios tells you about the company’s current financial condition, and how they compare to the industry averages.
Identify the major causes of any changes in these ratios and discuss your assessment of the company based on these changes.
Review the balance sheet and the notes to the most recent financial statements, and identify any contingent liabilities.
Discuss whether or not you agree with how the company chose to treat each contingency on the financial statements (i.e., recorded vs. disclosed, but not recorded).
Discuss the effect on the financial statements of the company’s treatment of the contingency.
Discuss whether the contingent liabilities change your assessment of the company.

Reference:
Porter, G.,

Current Assets and Current Liabilities

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