...Ryanair Case Analysis 2012 Patricia Saylor EKATERINA KOUPRIANOVA Accounting June 2, 2013 From the perspective of Ryanair, the major issue facing the firm is its valuation in the long-term, known as its economic value. Although the firm maintains a bullish outlook, there are diverging opinions regarding the valuation of the firm among investors. The valuations of the firm vary widely, with stock price estimates ranging from 3.05 to 7.57 (fine facts, pg. 1, 2012). This range reflects discrepancies on whether Ryanair has solid business model and fundamentals as well as numerous issues that plague not only Ryanair, but the airline industry as a whole. These issues are as follows: · Competition: Regulation permitted the entrance of start-up carriers, which, when combined with the excess capacity and the potential for high returns, has led to increased competition. Increased competition has and will continue to force Ryanair to reduce fare prices. · Costs: Regulation, although beneficial in some regards (cut-price deals), has also been costly for Ryanair. An unfavorable ruling by the EU in February 2004 put pressure on Ryanair's stock price and raised uncertainty among investors. Of more concern are rising costs associated with labor and fuel, which could increase fares and reduce margins and overall profitability. · Macroeconomic environment: The airline industry has proven particularly sensitive to phenomena such as terrorist attacks, wars, outbreaks (SARS), drastic...
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...Analysis of Financial Statements Due Date: 29 May 2014 Date Submitted: 28 May 2014 Word Count: 3190 DECLARATION I certify that this assignment is entirely my own work except where I have fully documented references to the works of others, and that the material contained in this assignment has not been submitted previously for assessment in any other formal course of study. Check this box to certify your declaration: X ------------------------------------------------- MANAGING FINANCE Analysis of Financial Statements 2014 Prepared for : Vivienne Buss. Subject: Managing Finance. Submitted: 28 May 2014 Prepared by: Bradley Hall GS 715 Executive Summary The subject company of this report is the Burson Group, within this report the user will be provided with an overview of the automotive aftermarket industry in which Burson operates, an analysis of the financial year 2013 performance of the Burson Group and a comparison of this period to the 2012, 2011 and 2010 reporting periods. Additionally comparisons will be drawn to the financial performance of the Coventry Group and ARB Corp, two companies that trade within the same industry. Conclusion will be drawn on the performance and opportunities for the Burson Group. The automotive aftermarket industry encompasses mechanical repair & modification services, manufacturing, re-manufacturing, wholesaling, distribution and retailing of all vehicle parts, accessories, tools, equipment and services...
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...In the article ‘Unleashing the power of the annual report at DTCC’, Goldstein, Stuart Z (2005) discuss how DTCC use annual report to communicate with its shareholders and potential investors in order to advance financial results. The article shows the main information investors can get through annual report and some examples how DTCC reform annual report to achieve effectively communicate with its shareholders. However, it is not a completely useful source for the report due to rare example, limited relevance and potential bias. In the article, Stuart(2005) argues why annual report is still important. He provides four points that annual report can offer to show the next horizon and resonate with shareholders. Those key messages can guide shareholders effectively in order to realize high financial results. This article explains the report question efficiently what necessary messages and major method communication is demanded to shareholders and possible inventors. While it is limiting since the article come down to checking the characteristic an annual report needs which can exchange ideals efficiently with its main readers. In addition, Stuart(2005,P.2) illustrates many success examples how DTCC change their annual report by using some new methods such as benchmarking approaches and techniques, set up senior communication officer. Those examples are rarely and cannot be seen as evidence. The lack of the source is perhaps it is useful in DTCC but the author does not show...
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...The major reason for why people invest in companies and purchase stocks is to generate profits. Stocks can be a very tricky and lucrative way to make money, and in order to potentially make a return on your investments investors need to look at the information that they have available to them and make a decision. Here now are types of information needed so that an investor to make a safe and comfortable decision. Financial information about a company that follows the conceptual framework of being comparable, verifiable, timely and understandable is a major part in the reviewing process by investors. The information that is available to potential investors plays an important role in the sense that if a company does not perform financially well, then the investor would not choose to invest their money in a potentially non-profitable investment. Financial statements that follow the conceptual framework, fully disclose their information to give users an overall view of the company’s financial performance throughout the year. Other elements in full disclosure such as discussions of the ability to meet short-term and long-term liquidity needs and explanations about the cause of variations from period to period are other useful depictions that investors use when making a decision. This information not only helps them decide whether they will make a return on their investment in the next year, but also a return in the future years. Investors like to use financial information to assess...
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...Module Lecturer: Mr. William Parrott Module Tutor: Mr. S. Skandakumar Date Submitted: 10/07/14 Total Word Count: 4193 Table of Contents 1.0 Introduction to the Report 3 2.0 Introduction to Airbus 3 3.0 Introduction to Boeing 5 4.0 Analysis of Financial Management 6 5.0 A comparative analysis of Airbus and Boeing 7 5.1 Airbus Group 7 5.2 Boeing 11 6.0 Examination of Key Stakeholders and Information Disclosure 14 6.1 Customers 15 6.2 Suppliers 16 6.3 Employees 16 6.4 Shareholders 17 7.0 Way Forward 18 8.0 References & Bibliography 19 1.0 Introduction to the Report This Consultant’s report has been compiled based on information gathered from the annual reports and financial statements of The Boeing Company and the Airbus Group (formerly EADS) for the year 2012. While analyzing the level of disclosure of both companies, this report aims to shed light on industry standards and critically examine whether the needs of key stakeholder groups have been sufficiently addressed in the chosen annual reports. Further suggestions for the improvement of these reports are also made in order to increase benefits for named stakeholders. As the complexity of business and capital markets increase, companies are required to manage risk and uncertainty in order to satisfy stakeholder...
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...Research and Analysis Project for B.sc (Hons) In Applied Accounting Business and Financial Performance Of GlaxoSmithKline Pakistan Ltd (2007- 2009) XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXX Prepared by Faisal Saleem XXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXX Mentoring by Fahim Ahmed This project is prepared in accordance with Oxford Brookes University guidelines. Table of Contents Topic & Company selection------------------------------------------------------------------------------3 About GlaxoSmithKline------------------------------------------------------------------------------------4 Overview of the Pharmaceutical Industry-------------------------------------------------------------5 Research Aims and Objectives--------------------------------------------------------------------------7 Information Gathering--------------------------------------------------------------------------------------8 Techniques used in RAP--------------------------------------------------------------------------------10 Limitations in RAP and Ethical issues----------------------------------------------------------------11 Financial Analysis-----------------------------------------------------------------------------------------12 Revenue trend Analysis----------------------------------------------------------------------------------12 Profitability and...
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...Introduction The purpose of this report is to investigate the current financial reporting environment in Sri Lanka and its impact on the companies listed on the Colombo stock exchange. Hotel SIGIRIYA PLC has been chosen to study the financial reporting requirements, cultural impacts and the political influences on the Sri Lankan listed companies. 1. Financial Reporting Environment in Sri Lanka 2.1. Current financial reporting requirements for publically listed companies in Sri Lanka. In August 2007, two stages were adopted by Sri Lankan accounting standards regulators to form the international Financial Reporting Standards (IFRS). They traversed from Stage I of IFRS Adoption to Stage III, due to the result of a “gap” between the international and national sets of standards in Sri Lanka. However, on 1 January 2012, the Institute of Chartered Accountants of Sri Lanka (ICASL) successfully adopted IFRS. (eStandards Forum, 2008, p. 5). According to the Colombo Stock Exchange (2014) a requirement for a listed entity is that it must “ensure that the annual report is issued to the Entity’s shareholders and shall not exceed five (05) months from the close of the financial year of the Listed Entity when given to the Exchange”. Furthermore, publishing of the Audited Financial Statements must be in accordance with the Sri Lanka Accounting Standards. (Colombo Stock Exchange 2014 -Listing Rules s.7.5 pg4) The Colombo Stock Exchange (2014) also requires an Interim Financial...
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...important amongst managers, who use the information available to make decisions that will affect the company they are managing. Managers may choose to base opinions on the balance sheet, income statement, or cash flow statement, or they may choose to base opinions on individual performance results from different entities the company owns. Necessary information for management, when making decisions, may come from other areas of the Annual Report, and not just the financial statements. There are indicators within the financial statements of areas that need to be further investigated by management, such as reduction in revenues, which might trigger someone to read the disclosure notes. However, there are many other facets that need to go into business decisions besides just the financial statements, such as the analysis that is contained in the Annual Report. Comparing Management’s Assessment of Financial Statements to Prior Written Analysis Comparing management’s assessment of the financial health of the company, as stated in the Annual Report, to a previously written paper discussing the financial statements, one would see that initial figure comparison’s were in line with each other, however, not all of the reasoning was the same. Revenues were down between 2008 and 2007, but not solely because of the economy, as stated in the previous paper, but rather because of new restaurant openings and hurricane closures, and leap year (lost three days of revenue), (Landry's Restaurants...
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...Sensitivity Analysis Sherri Fergusson HCS/405 December 22, 2014 Terri Andrews Sensitivity Analysis Many organizations have data analysis to review the financial statements, annual report, and budget issue documents; The Patton-Fuller Community Hospital is no different. In this analysis we will look over and address all of the areas that affect staffing at Patton-Fuller. These areas will vary between the numbers of nurses to the number of patients as well as staff compensation from wages to raises. A comparison of two years’ worth of data while also using Trend Analysis will explain future budgeting aspects and the pros and cons to these decisions. Comparative data is an important tool for managers to use when analyzing data with consistency, verification, and unit measures to fully meet the requirements of understanding the reporting financial results (Baker, PhD, CPA & Baker, JD, 2011, "Chapter 14/Using Comparative Data"). Using Patton-Fuller’s 2008-2009 financial statements to provide a comparative analysis for their expenses that occurred within a 2 year period. Patton-Fuller’s balance sheet provides comparative analysis that total current assets of 130,026 in 2008, and other assets in 2009 of 128,867 decreased to a negative difference of (1159.00). Liabilities reported a gain in 2009 of 462,153 from 2008 213,450 a growth percentage of 46.19 gain. However, factoring the equity of 335,035 in 2008 to 125,564 in 2009 a percentage of 62.52 gain, the total liabilities...
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...for the year, and transactions with owners, recorded directly in equity. Underneath the heading there are sub headings, which clearly identifies in which category the figures go. At the bottom of the table it shows the balance of that financial year. The statement of equity report is useful to the owners as its vital to their future decision- making and it shows how much profit or loss is left over for the individual equity. Accounting standards have been established to govern the use of appropriate measurement and reporting rules in the financial statements. The statements report is on a monetary terms. The reports are to be presented fairly, clearly and completely of the entity. The statement of Equity for the toll company is reported in the annual report, which is prepared at the end of each financial year. In the year 2009, the balance was two million five hundred and ninety nine dollars and ninety cents. In the following year 2010, there was a slight increase in the balance of equity by one hundred and twenty seven thousand dollars and one hundred dollars. The company Toll Holdings Limited prepared their reports according to the accounting principles. The purpose of doing the financial reports according to the accounting standards is to ensure accuracy and efficiency in the...
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...Note to the user: This Word document provides a structured template for preparing your responses to the questions in the annual report project. If you did not purchase the workbook you are not permitted to use this template. INTRODUCTION TO THE CORPORATE ANNUAL REPORT: A Business Application with IFRS Content 3rd edition Copyright 2011 by Applied Accounting Analytics. All rights reserved. Reproduction or translation of this book beyond that permitted by the applicable copyright law without Applied Accounting Analytics’ permission is prohibited. Requests for permission to reprint or for further information should be directed to bstanko@luc.edu or tzeller@luc.edu. ISBN: 978-0-9841839-2-0 To be completed by the student and submitted with the completed annual report project according to your instructor’s requirements. 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: Student Name:ASHLEY K BINEGAR Term: SPRING 1 2011 Selected Company: TARGET Instructor: 2. Print your completed electronic template. 3. Attach the following: • This page completed with all required information. • Completed Word template. Template boxes expand as you input responses. Adjust page breaks as necessary to submit a professional representation of your work. CHAPTER 1...
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...and GUESS have created such programs and with the comparison of before and after financial reports it boosts net sales by more than 30%. INTRODUCTION Express Next is a point-dollar reward system that affiliates each dollar spent with 10 points. The more points a customer accumulates the better a reward they will receive. There will be a two tiers of loyalty. A Base tier, the beginning tier, that rewards a customer with 10 points with every dollar spent. And a A-List tier, the advance tier that is gained when a customer reaches a certain amount of loyalty, that rewards customers with 15 points with every dollar spent. There will be a two quarter beta program to be held at various locations that have the top volume in the company and will be launched in the beginning of the upcoming fiscal year. This loyalty program will increase sales up to 30% percent and start a clientele-esque program. LIST OF SOURCES Berman, B. (2006). Developing an Effective Customer Loyalty Program . California management review , 49(1), 123. Demonstrate how to create an effective program that will increase net sales Chen, M. (2005). Mining changes in customer behavior in retail marketing . Expert systems with applications , 28(4), 773. doi:10.1016/j.eswa.2004.12.033 Show that the proper marketing and phasing of the program will benefit the companies finance Clifton, D. E. (2005). AECO Annual Report. AECO Investor Information. Retrieved March 17, 2012, from http://phx.corporate-ir.net/phoenix...
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...htm An investigation of perceptions of 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...
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...Annual Report Analysis SK Md Saif Ali (Neil) 500335019 CMN 413 Analysis of Annual Report: McDonalds Here is an annual report analysis of McDonalds based on recurring themes, corporate image, Branding, Readability, design, interest, factual comprehensiveness, consistency and transparency. Recurring Themes: Health concern is the biggest issue to general people when it comes down to fast food. Despite of their great they are incapable to promote good health. In 2012 Annual report, McDonalds claimed to overcome these issues by providing food with quality and taste. By adding real fruits, vegetables, salad to its menu, it has taken the food quality to a new level. Moreover, McDonalds has also become more eco-friendly. By successfully diminishing the usage of carbon footprint and energy, McDonalds proved that point to some extent. This organization has a family crisis fund to help families during depraved times. Corporate Image: approximately 69 million people around the world is served food by McDonalds. McDonalds has differed itself from other companies by seeking competitive advantage. They try to gain that by adding healthy food to their menu and by renovating the business. On page 5 of annual report, It is stated that how standing out for employees and looking out for its own people have earned McDonald’s a competitive advantage on others. The reason behind using such statement served multiple purposes. First of all its shows why one should work in McDonalds and...
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...___ Being a paper presented at ANAN Practitioners’ Forum at Mainland Hotel, Lagos on 3rd August, 2010 ____________________________________________________________________ Abstract Good corporate reporting is generally an indication of competitiveness and superior corporate governance. Good reports show initiative and effort on the part of the preparers. Significant changes in the corporate external reporting environment have led to proposals for fundamental changes in corporate reporting practices. A variety of new information types are been demanded, in particular forward-looking, non-financial and soft information. Openness and transparency in annual reporting on an unprecedented scale may be inevitable with the adoption of International Financial Reporting Standards (IFRS) and Nigeria’s commitment to adopt IFRS; Nigerian companies will have no alternative but to bring themselves up to speed. One way is to ensure that company’s reports actually reflect good governance. INTRODUCTION Good corporate reporting is generally an indication of competitiveness and superior corporate governance. Good reports show initiative and effort on the part of the preparers. “The better reports always address all the required relevant information concisely, and disclose thoroughly the measures taken – including on activities, corporate policy, strategic plans, the company’s prospects and current initiatives to protect the environment,” (Pushpanathan, 2010:15). In recent times the demand...
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