...of George Weston Limited, is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ more than 136,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada's strongest control (private) label program, including the unique President's Choice® no name® and Joe Fresh® brands. The company operates its owned stores under the Atlantic Superstore, Dominion, Extra Foods, Superstore, Loblaws, Loblaw Great Food, Maxi, Maxi et Cie, Provigo, The Real Canadian Superstore, T&T Supermarket, and Zehrs banners; wholesale outlets under the Cash & Carry, Presto, and The Real Canadian Wholesale Club; and franchised and affiliated stores under the Atlantic SaveEasy, Fortinos, Extra Foods, nofrills, SuperValu, Valu-mart, Provigo, and Your Independent Grocer trade names. In addition, the Company makes available to consumers President's Choice financial services and offers the PC points loyalty program. Over 13 million Canadians shop at Loblaws stores each week. The grocery...
Words: 1206 - Pages: 5
...Company Background Pepsi is founded by Caleb Bradham in Bern North Carolina on a hot summer day. Pepsi is a carbonated soft drink. It was created by a pharmacist as an incentive, as a way to get customers into his pharmacy in 1898. Caleb decided in 1902 to start the Pepsi Company and received its official patent in June of 1903. Pepsi was slowly on the rise with advertisement and in 1965 merged with Frito-lay Snack Company and Donald M. Kendall became founder of the new merged company PepsiCo. During the 1970’s Pepsi was becoming recognized as an aggressive company and was now in competition with the other leading soft drink company Coca-Cola. Coca-Cola was founded before Pepsi soft drink in 1886, also by a pharmacist named John Pemberton. After the invention of the beverage, portions of the company were sold around and much was sold to Asa Candler, a businessman from Atlanta. There were imitators of Coca Cola and so the business decided to market a new Bottle shape that would make it distinct from all the others beverages. To continue to make Coca Cola a success, in the 1970’s Coca Cola was advertised as a relation with happiness a fun time. Muhtar Kent is Chairman of the Board and Chief Executive Officer of The Coca-Cola Company. Mr. Kent joined The Coca-Cola Company in Atlanta in 1978 and has held a variety of marketing and operations roles throughout his career. In 1985, he was appointed General Manager of Coca-Cola Turkey and Central Asia. From 1989 to 1995, he served...
Words: 3695 - Pages: 15
...Ebay – Financial Analysis Almost everyone has heard of eBay. If you want to purchase pretty much anything from a jet to a grilled cheese with an image of the Blessed Mother, eBay is the place to do it. It was first established back in 1995. Pierre Omidyar was writing codes on his home computer on the long Labor Day weekend to develop the website for AuctionWeb. He wanted a way for his girlfriend to trade Pez Dispensers. Once he had the website up and running, he posted his first auction item. It was a broken laser pointer that sold to a collector for $14.83. That was the beginning of a sensation. By the end of the year, Omidyar hired Chris Agarpoa t help with operation of AuctionWeb. In 1996, Pierre Omidyar realized that this is going to be more than just a side job. He hired Jeff Skoll as the president of the company and Pierre quit his day job. Revenues began to escalate quickly. In one month in early 1996, the revenue topped $10,000. By the end of the year of 1996, they had over 40,000 registered users and had a gross merchandise volume of $7.2 million. Then in 1997, AuctionWeb is retired and eBay is born. They are hosting over 200,000 individual auctions a month compared to the prior year where they had 250,000 individual auctions for the entire year. By the end of 1997, the gross merchandise volume increased by $87.8 million to $95 million and had increased their registered users to 341,000. In September of 1998, eBay decided to go public. They listed...
Words: 2789 - Pages: 12
...Bond Valuation -Par Value$1000 / 4% coupon Paid Annually -5 years to maturity / Market yield 0 | 1 | 2 | 3 | 4 | 5 | | 40 | 40 | 40 | 40 | 40 | | | | | | 1000 | Calculator Solution N=5 Bond Terminology Face Value or Par Value- Amount to be repaid at end of loan Coupon- Stated interest payment made on bond Coupon Rate- The annual coupon/ Face Value of Bond Maturity- Specific Date the bond principle must be repaid Time to Maturity- the number of years until maturity Yield to Maturity- Return to bond holder if they hold the bond to maturity, Market driven rate, I/Y on your calculator Current Yield= (Annual coupon$/Current bond price) *100 Bond Par Value | 1,000.00 | FV | 1,000 | Years to Maturity | 5.00 | N | 5 | Coupon Rate | 6.0% Paid Annually | PMT | 60.00 | Yield to Maturity | 6.8% | I/Y | 6.80 | Current Price | ???? | CPT PV | | Par Value | 1,000.00 | FV | 1,000 | Years to Maturity | 5.00 | N | 10 | Coupon Rate | 6.0% Paid Semiannually | PMT | 30.00 | Yield to Maturity | 6.8% | I/Y | 3.40 | Current Price | ???? | CPT PV | 966.57 | Bond Information $1,000 Face or Par Values 10 Years to Maturity 6.6% coupon rate/ Paid SEMIANNUALLY Market Yield to Maturity 6.2% N | 20 | I/Y | 3.1 | PMT | 33 | FV | 1000 | CPT PV | $1029.48 | Bond Price | 980.00 | N | 16 | Par Value | 1000.00 | PV | (980.00) | Coupon Rate | 6% PAID SEMIANNUALLY | PMT | 30.00 | Years to Maturity | 8 | FV | 1,000 | Yield to Maturity...
Words: 265 - Pages: 2
...Structure: “Capital structure is the manner in which a firm’s assets are financed; that is, the right-hand side of the balance sheet. Capital structure is normally expressed as the percentage of each type of capital used by the firm debt, preferred stock, and common equity.” (Capital Structure Decision, 2002) Capital structure is a mix of debt, preferred stock, and common stock to which Competitive Bikes will plan to finance its company. The recommendation for Competition Bikes pertaining to their capital structure is the alternative of 50% Preferred and 50% Common Stock. With reviewing the numbers and the EPS as outlined in the schedule below (exhibit 3-1) this is the best alternative to strengthen Competition Bike financial position with strong capital structure while maximizing shareholders’ value. Although a solid capital structure will maximize a shareholders value and increase the value of the company, it is also important to Competition Bikes as with any other business, is not to lose site and focus on what is also important to the consumer; which is the quality of the product and customer service. There are two component of total capital which needs to be analysis; debt capital and equity capital. Ø Debt Capital: Is long term debt such as bank loans; Debt Capital is typically more expensive form of equity therefore are compensated with a greater return. Ø Equity Capital: Stockholders’ Equity: Shareholder with equity capital take...
Words: 2153 - Pages: 9
...additional revenue but cost also increases. However the sales increase more than the cost. Thus, gross profit increase. * More efficient in terms of cost and operating expense and finance cost. (Reductions) * Fully utilized resourcers – hire competent workers,etc - reduce cost * Finance cost reduce – In 2012, they buy another $200m of bank loan which has 10% of interest. However, due to the overdraft of 126-120 = 6. Their current finance cost is 20-6 = 14. Thus there is changes in the EBT – cost reduce * Sales increase 8% more than the market share in 2012. X In 2011, there might incur some sales but we only recognize it after 2012. One of its policies stated that, if the completion of works is 20%, we only recognize it into financial statement in sales. X In 2012, goods in progress in 2011 will be fully paid by customers after completion. Thus, the incurred amount will be recognize in 2012 after the completion. Asset turnover * Reduce * Bad * Capital employed increase more than sales * There are chges in the capital employed in 2012 due to Alberto Blanc (held the roles of Chairman and Chief Executive) In November 2012, the floatation issued 120 new shares. * Borrowing increases. * It’s bad because the unable to generate more sales in 2012. Not fully utilized. * However, the issued period in only two month, thus the accuracy of the information is not accurate, not reasonable to compare two months to 1 whole year. But in 2013 or future, the company’s...
Words: 1250 - Pages: 5
...Financial Statement Analysis JET2 Task 1 Evaluate the company’s operational strengths and weaknesses: A-1a Horizontal Analysis is defined as the following: A procedure in fundamental analysis in which an analyst compares ratios or line items in a company's financial statements over a certain period of time (Investopedia). Vertical Analysis is defined as the following: “is a popular method of financial statement analysis that shows each item on a statement as a percentage of a base figure within the statement” (Accounting, formanagerment.org). Trend Analysis is defined as the following: An aspect of technical analysis that tries to predict the future movement of a stock based on past data. Trend analysis is based on the idea that what has happened in the past gives traders an idea of what will happen in the future (Investopedia). Ratio Analysis is defined as the following: Ratio Analysis is a form of Financial Statement Analysis that is used to obtain a quick indication of a firm's financial performance in several key areas (Mathis). Competition Bikes, Inc. Comparative Income Statements Revenue Net Sales- The company’s net sales increased from year 6 to 7 by $1,495,000.00 or as the spreadsheet shows 33.3%. This is a very strong in increase. However, year 7 to 8 showed a net sales decreased of -$897,000.00 or -15%. This decrease shows a weakness, it is vital that net sales grow or at least stay even. Gross Profit- Gross profit shows an increase from...
Words: 6793 - Pages: 28
...I was an amateur and I thought it would be a fun way to learn a little bit about the market and myself in how I might approach looking at investing and the kind of approach I would take. From the start I took a rather conservative approach to the entire thing. I roughly made about one trade a week and even didn’t make a trade in a week at all. Granted in a market that’s down a bit to maximize my earnings that might not have been the best approaches as the market didn’t not vary a whole lot, at least for what I had invested in, but I will get to that later. As far as what I hoped to get as a rough expected return was about 5-10%. I was hoping to make some money within the game but also not expecting huge profits based on the current financial climate and the amount of trading and effort put in for my more conservative portfolio. That return I was hoping to realize in the 10-week holding period but looking at it now with a change in the climate in future months it might be more realizable in an annualized holding period. Some constraints that I took into consideration while doing this project are not very severe and don’t entail a whole lot. When I took this project on I didn’t particularly see the 10 weeks as the final see all. I did not go and put all 500,000 directly into the market even though I used most of it. It was more long term probably closer to a year but beyond that was not anything I considered or what of even wanted to do within the course of the class and project...
Words: 2235 - Pages: 9
...Unit 1: Role and Scope of management accounting 1.1The Role of the Management Accountant |Content |CLP |Text |Worked Example/Activity Ref | | | | | | |What is it? Provision of info financial and non-financial to decisions makers usually in|Pg 9 | |Activity 1 - the role of the| |the organisation | | |decision maker | | | | | | |Thought Process: | | | | |understanding what is required | | | | |calculating or compiling the information required | | | | |analysing, interpreting or understanding the information obtained | | | | |Making recommendations and drawing conclusions | | ...
Words: 28074 - Pages: 113
...On Accounting Flows and Systematic Risk Neil Garrod University of Glasgow Dusan Mramor University of Ljubljana Address for correspondence: Neil Garrod, Department of Accounting and Finance, University of Glasgow, 65-71, Southpark Avenue, Glasgow G12 8LE, Scotland, U.K. Tel: 00-44-141-330-5426 e-mail: n.garrod@accfin.gla.ac.uk On Accounting Flows and Systematic Risk Abstract The body of work that relates accounting numbers to market measures of systematic equity risk was largely undertaken in the 1970s and early 1980s. More recent proposals on changes in accounting disclosure of risk mean that a rigorous theoretical model of the relationship between accounting measures and market measures of risk is timely. In this paper such a model is developed. In addition, the assumptions required to develop the model are explicitly identified. By so doing it becomes possible to identify the potential cross-sectional differences which drive the empirical relationship between accounting and market based measures of risk. The model developed highlights a clear relationship between accounting and market measures of risk which can be exploited in situations where accounting data alone is available. It also provides a framework within which the environmental factors leading to cross-sectional differences between companies can be further explored. On Accounting Flows and Systematic...
Words: 3189 - Pages: 13
...The codes of ethics for both associations complement each other in several ways. The first way in which the complement each other is through confidentiality. Both handle confidential in similar ways, the Institute of Internal Auditors code states that auditors will keep all information confidential unless there is a professional or legal obligation to otherwise disclose the information. The Association of Certified Fraud Examiners code states that examiners will not disclose confidential information without the proper authorizations to do so. A second way the codes complement each other is through competence. Both the Institute of Internal Auditors and The Association of Certified Fraud Examiners state that they will continue to increase the competency of their members. Other ways in which they complement each other, both declare their allegiance to integrity, professionalism, and to maintain both ethical and legal conduct. The codes of ethics are essentially the same for each organization, all though the wording is a bit different between the two codes. Standards are important in both fields, so that auditors and fraud examiners have a uniform and legal approach to handle the risks inherent in organizations. Standards are important for fraud examiners so that they have uniform way of obtaining documentary evidence, interviewing witnesses and potential suspects, writing investigative reports, testifying to findings, and assisting in the general detection and prevention...
Words: 405 - Pages: 2
...sheet provided by Mr. Sheehan have a few questionable points: a. Net Sales – even though the forecast numbers are based on the typical seasonality of the firm’s sales performance of previous year. The forecast performances are much higher than the actual. b. Profit and retain earnings – closely relate to forecast, these forecast also inaccurate c. Inventory – with sales under perform, the inventory forecasts are also inaccurate. With much higher inventory than anticipated, especially in January 1991, the residual between actual and forecast is 924,000, which is a very big different. These excess inventories became illiquid assets, thus increased the liabilities which have a negative effect on the company’s financial health. Nevertheless, with lack of previous years’ financial data in addition to the unpredictable recession of the economy, it is hard to say whether or not these data were exaggerating. 2. Risk assessment a. Liquidity – as of March 1991, the current and cash ratio of Dynashears are 5.99 and 0.38, which are not bad numbers. The ratios shows that Dynashears’ current assets are still well cover (almost 6 to 1 ratio) over its increasing liabilities due to illiquid assets and that it still has sufficient cash for optimum operation. b. Long-term debt ratio – as of March 1991, the debt ratio is 4.71% which is very low, indicates that Dynashears still able to borrow a lot more. Even though Dynashears’ asset turnover rate is low (estimate at 0.24) and sales performance is...
Words: 1035 - Pages: 5
...controls Taxation Documents on display Purchases of equity securities by the issuer and affiliated purchasers Fees and charges payable by a holder of ADSs Fees and payments made by the Depositary to the issuer Called-up share capital Administration Annual general meeting Exhibits BP Annual Report and Form 20-F 2010 83 Directors and senior management 84 87 Directors and senior management Directors’ interests 89 Corporate governance 90 105 106 106 107 108 Board performance report Corporate governance practices Code of ethics Controls and procedures Principal accountants’ fees and services Memorandum and Articles of Association 141 Financial statements 142 Consolidated financial statements of the BP group 150 Notes on financial statements 228 Supplementary information on oil and natural gas (unaudited) PC1 Parent company financial statements of BP p.l.c. 111 Directors’ remuneration report 112 Part 1 Summary 114 Part 2 Executive directors’ remuneration 120 Part 3 Non-executive directors’ remuneration UNITED...
Words: 215326 - Pages: 862
...with the problem of choosing from among a large number of securities. His choice depends upon the risk and return characteristics of individual securities. He would attempt to choose the most desirable securities and like to allocate is funds over this group of securities. Again he is faced with the problem of deciding which securities to hold and how much to invest in each. The investor faces an infinite number of possible portfolios or groups of securities. The risk and return characteristics of portfolio differ from those of individual securities combining to form a portfolio. The investor tries to choose the optimal portfolio taking in to consideration the risk return characteristics of all possible portfolios. As the economy and the financial environment keep changing the risk return characteristics of individual securities as well as portfolios also change. This calls for periodical review and revision of investment portfolios of investors. An investor invests his funds in a portfolio expecting to get a good return consistent with the risk that he has to bear. The return realized from the portfolio has to be measured and the performance of the portfolio has to be evaluated. It is evident that rational investment activity involves creation of an investment...
Words: 3303 - Pages: 14
...simple fundamental analysis strategy based on historical accounting information can predict stock returns. The paper’s goal is to show that simple screens based on historical financial signals can shift the distribution of returns earned by an investor by separating eventual winners stocks from losers. Results show that historical accounting signals can be used to improve the entire distribution of future returns earned by an investor. In fact, despite the overall down activity of the market over the sample period chosen, results reveal that fundamental accounting signals can be used to discriminate from an overall sample generating future negative returns of -0,116 a winner portfolio that provide positive future return of 0,019 from a loser one generating a negative return of -0,229. The over-performance of the winner portfolio seems to be attributable to the ability of the fundamental signals to predict future earnings. In fact, results show that fundamental signals have a positive and significant correlation with future earnings performance and that the winner portfolio have a future earning’s realisation (0,100) that outperforms that of the loser portfolio (-0,012). Keywords: Fundamental Analysis, Market Efficiency, Stock returns. JEL Classification Codes: G11, G14 1. Introduction One object of financial accounting is to provide information that is relevant to investment decisions. Discovering value-relevant accounting attributes has been the subject of numerous...
Words: 7445 - Pages: 30
