HND商务会计高级outcome345报告答案Word下载.docx
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HND商务会计高级outcome345报告答案Word下载.docx
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AnalyzetherecentfinancialperformaneeandpositionoftheSSPplc.
(Includingmyrecommendationsabouthowtoimprovementofbusiness
performanee)
Section1.Usersoffinancialaccounts.
Usersoffinancialstatementsareagroupofpeopleororganizationswhousethe
informationtomakeevaluationsanddecisions.Usersoffinancialinformationcanbe
dividedintotwocategories:
internalandexternalusers.
Now,Iwilluseatabletoshowyoutheusers'
purposeandsourcesofinformation
togetthestatements.
Section2.Sourceoffinances
Torunabusiness,organizationsrequirefinancefordifferentproposesandforvarying
lengthsoftime.Inthefinance,wedividesourcesofcapitalintotwocategories:
equity
capitalandloancapital.Equitycapitalisthefinanceprovidedbytheownerandthereisno
interesttopay.Loancapitalreferstomoneythatisborrowedfromasourceoutsidethe
business.Theinterestofloancapitalmustbepaid.Sourcesoffinancescouldbeclarified
intoshort,mediumandlongterm.Theshort-termreferstofinancethatareborrowedfor
aperiodofnomorethanoneyear.Themedium-termreferstofundsthatareborrowedfor
aperiodofbetweentwoandtenyears.Long-termreferstofundsthatareborrowedfora
periodofmorethantenyears.
Inthecasestudy,thesourceoffinancesofSSPplcis:
tradecreditors,tax,bankoverdraft,
debentures,ordinarysharecapitalandtheretainedprofitsfromlastaccountperiod.
Short-termsources:
1.Tradecreditors:
Tradecreditorsareproducedwhenthepurchaseofrawmaterialsorstockisdelayingto
pay,thus,thereismorecashwhichwouldbeusedforotheruses.Thereisalsoan
interestfreewayofraisingfinance.However,thecreditcouldleadtopoorrelations
withsuppliersandthecustomersmayforfeitdiscounts.
Thecreditis£
544,000in2003anditdecreasedtohep由c40fa0e0oh2004.T
decreaseis25.56%.ThedecreaseofcreditinfersthatSSPplchasagoodfinancialsituationthatithasastrongabilitytopaycreditsbacktosuppliers.Thiscouldimprovetherelationshipwithsuppliers.
2.Bankoverdraft:
Bankaccountholderscanprearrangewiththebanktodrawchequestoagreatervalue
thantheactualbalaneeintheaccount.Interestshouldbepaidbycustomersandbank
chargeswillapplywhereanoverdraftlimithasbeenexceeded.Bankoverdraftisflexible
andcheap.Ithasalowcost.Somesmallbankoverdraftevenhasafreeofcharge.
SSPplchadnooverdraftbutthenumberincreasedto£
86,000in2004.The
showsthatthecompanyborrowedmoneyfrombankforitsexpansioninGlasgow.
Long-termsources:
1.Debentures:
Debenturesareloansmaketocompaniesthatcarryafixedrateofinterest.The
company'
fixedassetsnormallysecuredebentures.Debentureshaveafixedtimeperiodoranopentimeperiod.Theshareholdersarenotdebentureholders.A
debentureinterestispaidasanexpensenotanappropriationofprofit.
SSPplchasafixeddebenture(£
1,560,000)intheyearof2003and2004.Ittellsusthe
sfixedassetsaresteady.
2.Ordinaryshares:
Ordinaryshareholdersreceivingpay-outsfromcompanyafterprefereneeshareholders
arepaid.Ordinarysharedividendsarenotfixedandsubjecttocompany
performancesanddecisionsofmanagementinpayingdividend.
infersthatthecompanyhasasteadyoperationsituation.
3.RetainedProfits
Theretainedprofitisthefinancebroughtfromthelastfinancialperiod.Itisnotfixed
andmaybeanegativenumber.Itpresentsoperationalsituationoflastperiod.
Theretainedprofitsdecreasedfrom5£
5,000to42£
000.Thepercentagechangeofdecreaseis16.83%.Thelowerratioshowsusthecompanyhadmadefewerprofitsin2003thenitwasin2002.
Section3.RatioAnalysis
1.
£
1,345,000.
MajorinflowsisNetcashflowoperatingactivatesof
MajoroutflowisPaymentstoacquirefixedassets,whichtakes
2.RatioAnalysis
ProfitabilityRatios:
GrossProfitPercentage=Grossprofit/Turnoverx100%
2003:
GPP=£
7,000,000/
11,674,000拓9
%=
2004:
8,037,000/
13,382,000)60
Trend:
Increase
Analysis:
Theincreaseofratioisagoodsign.Thepositivetrendcanbeanindication
thatstockcontrolofmeatproducthasimproved,demandforthemeatproducthas
increasedafterthediseases,orpurchasingpolicieshaveimproved.Themanagersshouldkeepthegoodtrendandgoondevelopit,suchasimprovingmarketingstrategy,settingbetterpricingpolicy,orimprovingstockcontrol.
NetProfitPercentage=NetProfitbeforeTaxation/Turnoverx100%
Decrease
Analysis:
Thedecreaseoftheratioisabadsignthatitindicatesalowprofitofthecompany.FromtheP&
LAccountoftheSSPplc,weknowthatalthoughthegrossprofitincreased,theoperationcostismuchhigherin2004;
itleadstoadecreaseinnetprofit.Sothemanagersshouldthinkabouthowtodecreaseouroperationcosttohelpourcompanyearnmoreprofit.
LiquidityRatios:
CurrentRatio=TotalCurrentAssets/TotalCurrentLiabilities
CR=£
1,195,000/£
7656000=
1,248,000/£
7078000=
theincreaseofratioisagoodsign.Generallyspeakingahealthycurrentratioisatleast2:
1.The1.56and1.78indicatethecompanyisalittlebitovertradingandhavedifficultyinmeetingitsshort-termdebts.Themainreasonfortheincreaseisthe
increaseinthetotalcurrentassetsanddecreaseinthetotalcurrent
liabilities.
suggestthatthecompanymaykeep
moreprofitfortheshort-termdebts.
TheAcidTestRatio=LiquidAssets/CurrentLiabilities
(£
1,195,00608,000)/£
767,000=
1,248-,(£
)(796,000)/£
701Q0B0=
Thedecreaseisabadsign.Theratioshouldbe1:
1.Buttheratioinbothof2003and2004islessthat1.Andunfortunately,theratioisstilldecreasing.SSPplcmeetsaliquidityproblemthattheliquidassetsdecrease.Thecompanymanagersshouldpayattentiontothisratioandorganization'
sdevelopment.
EfficiencyRatios:
FixedAssetTurnover=Turnover/FixedAssets
£
11,674,000/£
4,Q191Q0ees
13,382,000/£
4,3H8)Q0Qes
Wherethisratiogasincrease,thisisagoodsign.Itindicatesthattheexistingfixedassetsaregeneratingmoresalesandmaybeinvestmentinnewfixedassetsgascouldbebeenpaidoff.ManagersofSSPplcshoulddevelopandfocusonit.
DebtorsCollectionPeriod=Debtors/Turnoverx365
ItisabadsignthatthereisanincreaseinDCP.ItindicatesthatSSPhaveapoorcreditcontrolofpoorinvoicingsystem.Thebaddebtsmayalsoincrease.TheleadersofSSPshouldchecktheirinvoicingandremindersystemtokeeptheratioaproperrange.
InvestmentRatios:
InterestCover=ProfitBeforeInterest&
Tax/InterestCharges
1,416,000/
!
5000=
1,135,000/£
2385000=
Thisratioshowshowcapablethecompanyisofcoveringitsinterestcharges.
Thedecreaseisnotgoodbecausethecompanyislessabletomeetitsinterest
payments.Buttheratioisstillinareasonablerange.Leadersshouldtrytoincrease
sprofittokeepthisratioahighlevel.
DebtRatio=TotalDebts/TotalAssetsx100%
(
767,000+£
1,56040007/000+£
195,000)x100%=44.65%
701,000+£
1,5604308/000+£
1,248,000)x100%=4^62%
Itisagoodsignthattheratioincreased.However,ahealthyratioshouldkeeparound50%.ItindicatesthatSSPhasfewerliabilitiesorkeepsmoreassets.Thesignshouldbekeptbymanagers.
3.Recommendation
AfterreadingandanalyzingthreeaccountsfromSSPCompany,Ifoundsomeproblems
withitandnowIwillpresentmysuggestionsaboutthefuturemanagementinthese
twoparts.
Operationalrecommendation
AratioofNetProfitPercentageshowsusthatSSPplchasahighexpenditureinoperationcost.Italsoindicatesthatthecompanyhasalowlevelofcostcontrol.
Therefore,IsuggestthatSSPshouldtrytodecreasethecostsofsalesandtheoperationcost,suchasadoptingnewmanagementsystemandusingcontractorstofinddistributionchannelsbuttofindthemitself.
Financialrecommendation
Forthesourceoffinance,SSPhasabadperformanceoffinancialoperating.IntheCash
FlowS
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