Identify and evaluate other sources of information such that a thorough and well-founded analysis

To consolidate your learning in ACCT5021 Accounting for Managers, you are to undertake a financial analysis of Santos Ltd (ASX Code: STO) and Woodside Petroleum Ltd (ASX Code: WPL), two Australian Securities Exchange (ASX) listed companies. Apart from examining each company’s annual reports, all other relevant disclosures made (e.g., quarterly and half yearly reports), ASX disclosures and other information relevant to the performance and position of each company and the industry report for Oil and Gas Extraction in Australia. It is expected that your research effort will extend beyond each company’s annual reports and Morningstar DatAnalysis. Accordingly, your team will need to identify and evaluate other sources of information such that a thorough and well-founded analysis of each company’s past performance and position adequately supports the provision of a well-argued investment recommendation (e.g., to buy, hold or sell shares in either company and the Australian industry sector to which they belong). Accordingly, your team may choose to access and interpret publicly available information on each company from sources such as the ASX, the Australian Accounting Standards Board; online databases such as ABI, IBIS World, ORBIS, ProQuest, Factiva, Morningstar DatAnalysis Analysis, etc; stock broker research reports; relevant websites such as http://www.bloomberg.com.au; business publications such as the Australian Financial Review and business oriented periodicals