...Annual Review 2009 06 Our performance 08 Our market 10 Our strategy bp.com/annualreview Operating at the energy frontiers How a revitalized BP is driving efficiency, momentum and growth Meeting the energy demands of today and tomorrow Oil Natural gas Wind Solar Biofuels Efficiency BP Annual Review 2009 Reconciliation of profit for the year to replacement cost profit The Annual Review for the year ended 31 December 2009 includes the summary financial statement (on pages 1-7 and 10-33), which comprises summaries of the Directors’ Report and the Directors’ Remuneration Report and a summary of the information in the consolidated financial statements. The summary financial statement complies with the information requirements under the Companies (Summary Financial Statement) Regulations 2008. It does not contain sufficient information to allow as full an understanding of the results and the state of affairs of BP and of its policies and arrangements concerning directors’ remuneration as BP Annual Report and Accounts 2009. Shareholders may obtain a copy of BP Annual Report and Accounts 2009 online or on request, free of charge (see page 33). Outside the summarized financial statements (see pages 24-28), references within BP Annual Review 2009 to ‘profits’, ‘result’ and ‘return on average capital employed’ are to those measures on a replacement cost basis unless otherwise indicated. The table below reconciles profit for the year to replacement...
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...| Review of Comcast Corp Annual Report 2012 | | | Review of Comcast Corp Annual Report 2012 | | Comcast Devry university October 13, 2013 Authored by: Traci Rood Comcast Devry university October 13, 2013 Authored by: Traci Rood TABLE OF CONTENTS INTRODUCTION…………………………………………………………2 QUESTION 1………………………………………………………………3 QUESTION 2………………………………………………………………4 QUESTION 3………………………………………………………………4 QUESTION 4………………………………………………………………5 QUESTION 5………………………………………………………………6 QUESTION 6………………………………………………………………6 QUESTION 7………………………………………………………………7 QUESTION 8………………………………………………………………7 QUESTION 9………………………………………………………………8 CONCLUSION…………………………………………………………….9 WORKS CITIED………………………………………………………….10 INTRODUCTION Comcast is a corporation dealing in global media and technology. They are made up of two primary businesses, Comcast and NBCUniversal. Comcast was originally founded in 1963 and then incorporated in 2001 in the state of Pennsylvania. The acquisition of AT&T Broadband put the now CEO, Brian Robert’s name on the map, at least in the cable industry.¹ NBCUniversal was acquired in 2011. They operate under five different segments; Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.² The combined companies total 129,000 employees. Comcast has led the pack when it comes to cable operations. Especially in the last ten quarters. Their average operating cash flow growth has been 6.8%...
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...CPA Report This memo has been prepared in response to Mr. Butterworth’s inquiry on behalf of the independent audit team reviewing XYZ Corporation, a wholly owned subsidiary of ABC Company. Specifically this memo addressed the methodology used to determine deferred taxes, the procedure for reporting accounting changes and error corrections, and the rationale behind establishing XYZ Corporation as a subsidiary. Also included in this memo, as requested, is a discussion of the responsibilities of a CPA, and the differences between a financial review report and a financial audit report. Methodology used to Determine Deferred Taxes Deferred taxes can be one of two different types of deferred tax entries, permanent or temporary. Permanent deferred tax liabilities are income generating events that do not incur tax liabilities, and thus a permanent adjustment to the financial reports is made to adjust for the discrepancy between income for tax purposes, and income for reporting purposes. A temporary deferred tax liability is a liability where taxable income is different from reportable income, but at some future point, the taxable income will reconcile to the reportable income (Kieso, Weygandt, & Warfield, 2007). Temporary deferred tax liabilities can result in either an excessive or insufficient amount of tax withheld in the current period, which will be reconciled at a later period. An example is the depreciation of a capital asset. If the book depreciation of a...
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...The Investor Relations Society ‘Determinant Factors for Best Investor Relations’ 1. Best Communication of strategy, performance and key performance indicators (KPIs) in the annual report |Business and financial review |Best Practice | |requirements | | |1. ‘a fair review of the company’s |Sensible and understandable explanation of the company’s business. | |business’ |Balanced perspective and clear statement of the company’s strategy. | | |Description of the company’s markets, including regulatory environment and competitive position. | |2.‘the development and performance |Commentary related to the group strategy and progress in achieving objectives. | |of the company’s business during the|Trade or channel relations (where applicable), e.g. service levels, distribution, display, trade customer satisfaction. | |financial year’ |Innovation, e.g. number of new products, new products' revenue and margin as share of total, R&D investment. | | ...
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...company annual report users in Sri Lanka Anura De Zoysa and Kathy Rudkin School of Accounting and Finance, University of Wollongong, Wollongong, Australia Abstract Purpose – The purpose of this paper is to report on a study of how users of company annual reports in the emerging market of Sri Lanka view those reports. Since limited studies exist that examine financial reporting practices in emerging markets, little is known about the user perceptions of company annual reports in these markets. This paper contributes to filling this gap by examining the views of a wide spectrum of users on the usefulness of corporate annual reports in Sri Lanka. Design/methodology/approach – The data reported in this study were collected through a questionnaire survey, covering seven user groups – accountants, executives, bankers, tax officers, academics, financial analysts, and investors. The 264 responses received were analysed using the Kruskal-Wallis one-way ANOVA test. Findings – The results reveal that most use annual reports for obtaining information for share transactions. Despite the long delay in publishing many annual reports and lack of availability of these reports to the general public, the majority of users view annual reports as the most important source of company information. The paper also reveals that, in comparison with developed markets, Sri Lankan users depend more on annual report information than on information provided by stockbrokers, newspapers, and other media reviews. Originality/value...
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...Annual Reports Stephanie Shumway McCleneghan Colorado Technical University Online Annual Reports An annual report is a document that companies must provide to their shareholders that describe the organizations operations and financial conditions (Annual Reports, 2014). There are many components that an annual report usually contains such as different financial highlights, management discussion and analysis, auditors reports, and corporate information. All annual reports revolve around financial data, so it is safe to say that when beginning a report, you need to focus on the fiscal numbers. To gather this data, you will want to sit down with the accounting department to review that previous year’s performance. Once this information is reviewed, it will help to provide direction for the report. These reports also tend to act as a sort of marketing devise to share holders and potential investors to show case the company’s strengths. This report generally contains six different sections: a letter from the chairmen, the chief executive’s review, a profile of the board of directors, financial reports, audit reports, and the financial highlights. The chairman’s letter or letter to the shareholders usually acts as a summation of the annual report and reviews the company’s performance over the past year. This tends to be the most read part of the annual report (Annual Reports, 2014). The next section is usually a statement from management that discusses and analyzes sales, profit...
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...THE CORPORATE ANNUAL REPORT: A BUSINESS APPLICATION 2cd edition Complete the following before you submit your assignment. This step is required to validate your compliance with sections 107 or 108 of the 1976 United States Copyright Act. 1. Remove the front cover of the workbook and identify: * Name: Oskar Diaz de Leon _. * Term: Spring1 2010 . * Company: Apple Computer Inc (AAPL) _ . * Instructor: Natasha Bell-Scott _ . 2. Print out your completed electronic template. 3. Attach the following: * This front cover (completed) * Electronic solution template * Company annual report Chapter 1 - Introduction * Chapter 1: Select a Company and Gather Documents—Question 1Fill in the page numbers on the annual report where the following are located. | Required information for this workbook project. | Page No. | Required information for this workbook project. | Page No. | Financial Highlights (Not absolutely necessary, but very common in annual reports.) | 36 | Statement of Cash Flows | 59 | Chairman’s Message (President’s, CEO’s or other top official’s message or letter to the shareholders) | 36 | Notes to Financial Statements | 60 | Management’s Discussion and Analysis (MD&A) | 36 | Report of Independent...
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...Inspiring What’s Next. >> annual report 2014 t’s ha t. W ex N Maxis Berhad Annual Report 2014 We Are Maxis We are the leading communications service provider in Malaysia, enabling both individuals and businesses to connect and communicate anytime and anywhere. We are passionate about what we do, and obsessed with providing an unmatched experience to our customers. Our customers enjoy a superior Internet experience, make voice calls and text, and immerse themselves in an ever expanding universe of connected applications on the most advancedcellular network, encompassing 3G and 4G LTE technologies. Our passion drives us to innovate and market services that are worry-free and ‘Always On’ for our customers, so they can stay focused on the pursuit of their goals. For our enterprise customers, our integrated solutions are a compelling proposition which enables them to enhance their business goals. Our people are our competitive advantage. We prepare for the future today by developing the skills and talent of all employees, making Maxis a great place to work for great people. 2 Underpinning this is the MaxisWay, our approach to work that champions passion, positivity, and collaboration. Beyond connecting people with our services, we are passionate about making a positive impact on the community in which we operate. Our Corporate Responsibility efforts aim to develop and enrich our community, customer and partners, making ...
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...Accounting HCS/405 December 06, 2010 Health Care Case Study: Financial Statements This paper is a health care case study of financial statements for Patton-Fuller Community Hospital. This summary is a review of the annual report and financial statements and the differences between the audited and the unaudited statements. The financial ratios are examined to determine if there has been improvement from 2008 to 2009 and to explain the cause. This paper will also summarize the relationship between revenue sources and expenses and explain the effect of revenue sources on financial reporting. The summary will also determine how the hospital’s revenues and expenses are grouped for planning and control. Audited and Unaudited Financial Statements The balance sheets for the Patton-Fuller Community Hospital for the years of 2008 and 2009 appear to have a discrepancy of $1,000,000 in the patient accounts received. On the 2009 unaudited statement, there was $59,787,000 and on the audited there was $58,787,000 which accounts for the $1,000,000 difference. Additionally on the Statement of Revenue and Expense for years 2008 and 2009 there was a discrepancy of $1,000,000 in 2009. This discrepancy appeared on the provision for doubtful accounts. The unaudited report showed $13,797,000 and the audited shows $14,797,000 which accounts for the $1,000,000 difference. This makes the “net income” for the year (2009) $627,000 in the unaudited, and 373,000 in the audited statement...
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...forecasts. A number of ratios must be analyzed together to get a true and reliable picture of the financial performance of the business. Relying on each ratio individually may not be a good strategy. Year-end values may not be truly representative of the actual performance of the business and hence, average values should be used when they are available. The limitations of accounting methods also apply to financial ratio analysis. The selection and application of accounting standards may result in different ratio values. Financial ratio analysis, in fact, has a great use in management accounting which differs from financial accounting in being an on-going, performance management exercise. This summary is a review of the annual report and financial statements and the differences between the audited and the unaudited statements. The financial ratios are examined to determine if there has been improvement from 2008 to 2009 and to explain the cause. This paper will also summarize the relationship between revenue sources and expenses and explain the effect of revenue sources on financial reporting. The summary will also determine how the hospital’s revenues and expenses are grouped for planning and control....
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...PRINCIPLES FOR PERIODIC DISCLOSURE BY LISTED ENTITIES Final Report TECHNICAL COMMITTEE OF THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS FEBRUARY 2010 CONTENTS Chapter 1 Introduction Uses of Annual Reports Scope Presentation Glossary of Defined Terms Principles for Periodic Disclosure by Listed Entities A. Periodic reports should contain relevant information B. For those periodic reports in which financial statements are included, and should state that the financial information provided in the report is fairly presented. C. The issuer’s internal control over financial reporting should be assessed or reviewed. D. Information should be available to the public on a timely basis E. Periodic reports should be filed with the relevant regulator. F. The information should be stored to facilitate public access to the information. G. Disclosure criteria. H. Equal access to disclosure. I. Equivalence of disclosure. Page 3 4 5 5 6 7 7 20 2 3 21 22 23 24 25 26 27 Appendix 1 – Feedback Statement on the Public Comments on the 28 Consultation Report – Principles for Periodic Disclosure by Listed Entities Appendix 2 – Comment Letters on Consultation Report – Principles 36 for Periodic Disclosure by Listed Entities. 2 Chapter 1. Introduction In the increasingly globalized securities markets, widely accepted international disclosure standards play an important role in facilitating cross-border capital raising. International agreement on disclosure standards...
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...“Content Analysis of Annual Report of RAK Ceramics (Bangladesh) Ltd. ” | “Content Analysis of Annual Report of RAK Ceramics (Bangladesh) Ltd.” Submitted to Mr. Al-Amin Assistant Professor Department of Accounting & Information Systems University of Dhaka Submitted by Name Asif Mahmud Ruhul Amin Tithi Rani Saha Md. Waliul Islam Mark Pritom I.D. 11323025 11323016 11323008 11323020 Date of Submission April 30, 2013 Table of Content Letter of Transmittal Acknowledgement Abstract 1. Introduction 1.1 STATEMENT OF THE REPORT 1.2 Objective of the Report 1.3 Methodology of the Report 1.4 Limitations of the Report 2. Overview of RAK Ceramics (Bangladesh) Ltd. 2.1 BRIEF PROFILE OF RAK CERAMICS (BANGLADESH) LTD 2.2 COMPANY DETAILS 2.3 NATURE OF BUSINESS 2.4 VISION OF JBL 2.5 MISSION OF JBL 2.6 SUBSIDIARY COMPANY 3. Content Analysis of Annual Report of RAK Ceramics (Bangladesh) Ltd. 3.1 CONTENT OF ANNUAL REPORT OF RAK CERAMICS (BANGLADESH) LTD. 3.2 POSITION OF STRENGTH 3.3 RECOGNITIONS 3.4 FINANCIAL PERFORMANCE 3.5 KEY ANNUAL HIGHLIGHTS 3.6 CHAIRMAN’S THOUGHTS 3.7 THINKING BEYOND THE CUBE 3.8 6 STRATEGIC QUESTIONS FOR THE MANAGING DIRECTOR i ii iii 1-2 2 2 2 2 3-6 4 5 5 5 5-6 6 7-31 8 9 9 9 9 10 10 11 3.9 SEGMENTAL REVIEW OF PRODUCTS 3.10 RISK MANAGEMENT AT RAK CERAMICS (BANGLADESH) 3.11 CORPORATE AND SOCIAL RESPONSIBILITY 3.12 VALUES 3.13 PROFILE OF BOARD OF DIRECTORS 3.14 EXECUTIVE MANAGEMENT 3.15MANAGEMENT DISCUSSION 3.16 ANALYSIS OF FINANCIAL STATEMENTS...
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...Fertilizer Bin Qasim Limited Financial Analysis Report Period coverage: 1st January 2012 to 31st December 2012 Prepared and Presented by: Dr. Babur Zahiruddin Raza, Corporate Office Consultant in Human Resources & Master Trainer in H.R Applications Research Consultant Mr. J. S Khan IT Consultant Mr. Raheel Rustam Ph: 051-5584905, 5792836 Cell: 0332 – 4923235 Email: baburzahiruddin@yahoo.com, TABLE OF CONTENTS SR no | Description | Page no | 1 | Financial analysis approach ----------------------------------------------- | 3 | 2 | Analytical review --------------------------------------------------------- | 4 | 3 | Key discussion points for AGM ---------------------------------------- | 8 | | | | | | | | | | | | | | | | 1. FINANCIAL ANALYSIS APPROACH I have adopted following approach to perform holistic and integrated financial analysis of Fauji Fertilizer Bin Qasim Limited-FFBL Environmental analysis Industry analysis Operational review of FFBL Financial analysis The under mentioned documents are essential to perform comprehensive analysis of financial position, performance and cash position. 1. Business plan-Year 2013 to 2015 2. Approved budget-Year 2013 to 2015 3. Annual report of Year 2012 4. Audited financial statements-Year 2012 5. Internal audit charter / Terms of reference for internal audit 6. Internal audit reports 7. Audit engagement letters 8. Management...
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...CHAPTER 1 ACCOUNTING INFORMATION SYSTEMS AND THE ACCOUNTANT Case 1: Annual Report The annual report is considered by some to be the single most important printed document that companies produce. In recent years, annual reports have become large documents. They now include such sections as letters to the stockholders, descriptions of the business, operating highlights, financial review, management discussion and analysis, segment reporting, and inflation data as well as the basic financial statements. The expansion has been due in part to a general increase in the degree of sophistication and complexity in accounting standards and disclosure requirements for financial reporting. The expansion also reflects the change in the composition and level of sophistication of users. Current users include not only stockholders but also financial and securities analysts, potential investors, lending institutions, stockbrokers, customers, employees, and (whether the reporting company likes it or not) competitors. Thus, a report that was originally designed as a device for communicating basic financial information now attempts to meet the diverse needs of an expanding audience. Users hold conflicting views on the value of annual reports. Some argue that annual reports fail to provide enough information, whereas others believe that disclosures in annual reports have expanded to the point, where they create information overload. The future of most companies depends on acceptance by the...
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...Powdered and liquid beverages, Water, Milk produces and Ice cream, Nutrition, Prepared dishes and cooking aids, Confectionery, PetCare and Pharmaceutical products (Forbes.com). In light with this paper is to review the company’s 2011 Annual Report, pointing out on the company’s annual report’s effective use of graphs, images and repetition that enables effective delivery about the Company’s goals, mission, financial statements, long-term innovations that attracts readers, customers, investors and shareholders. According to Garrido, Silveria and Gomez (2005), visuals play a significant role in business annual reports. Nestle uses visuals to focus the readers’ interests, attracting them to the information presented in the report and attempting to hold their attention. Such visual representations like tables and graphs are remembered more easily and accurately than numbers. Often, business texts and reports become too dense and boring for readers, despite their initial interest (p. 2). Taking note on the Company’s 2011 Annual report covering on their 2011 Consolidated Financial Statements (p. 32), it showed different types of graphs such as bar graphs, dot graphs and pie graphs that visually represent the descriptive content of their financial report. For example, the report showed the company’s sales growth in different geographical regions where they operate such as Europe, America, Asia, Oceania and Africa (p. 33). Their geographic sales in three different zones or regions...
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