HND商务会计高级outcome345报告答案docx.docx
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HND商务会计高级outcome345报告答案docx
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Indexpage
Indexpage⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯..
Introduction⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯.
Background⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯..
Findings
Section1⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯
Section2⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯
Section3⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯
Conclusion⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯
Reference⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯.
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Introduction
Background
SSPplcisacompanyoperatinginthefoodmanufacturingindustry.Itisengagedinfood
processing,supplyingallthemainsupermarketchainswithfirstclassprocessmeat
products.DuringthelastfewyearsthecompanyhasbeendifficultbecauseoftheBSEand
FootandMouthdiseasemadeadecliningdemandformeatproduct.Thebadoutstanding
achievementstoppedin2004andapartialreboundinthemarketproducedanincreasein
turnoverbynearly15%.Itisexpectedthatthisreboundinthemarketwillgather
momentumoverthecomingyearandtheSSPplcisplanningtotakeevengreaterstrides
forwardbyopeninganewprocessingplantinGlasgow.
Asrequestedinthechiefexecutivesmemo’of30December,hereismyreport
summarisingandanalysisingthefinancialpositionoftheSSPplcfortheyear2003and
2004.
Outline
Themainbodyofthereportwillevaluatefiveparts:
Part1---Analyzetheusersoffinancialinformationandthepurposeofusing.
Part2---Stateoffinancialsourceandcategorizewiththeircharacteristics.
Part3---ExplainthecashflowstatementofSSPplc.
AnalyzetherecentfinancialperformanceandpositionoftheSSPplc.
（Includingmyrecommendationsabouthowtoimprovementofbusiness
performance）
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Findings
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.
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Short-termsources:
1.Tradecreditors:
Tradecreditorsareproducedwhenthepurchaseofrawmaterialsorstockisdelayingto
pay,thus,thereismorecashwhichwouldbeusedforotheruses.Thereisalsoan
interestfreewayofraisingfinance.However,thecreditcouldleadtopoorrelations
withsuppliersandthecustomersmayforfeitdiscounts.
Thecreditis￡544,000in2003anditdecreasedtohepercentage￡405,000ofin2004.T
decreaseis25.56%.ThedecreaseofcreditinfersthatSSPplchasagoodfinancial
situationthatithasastrongabilitytopaycreditsbacktosuppliers.Thiscouldimprove
therelationshipwithsuppliers.
2.Bankoverdraft:
Bankaccountholderscanprearrangewiththebanktodrawchequestoagreatervalue
thantheactualbalanceintheaccount.Interestshouldbepaidbycustomersandbank
chargeswillapplywhereanoverdraftlimithasbeenexceeded.Bankoverdraftisflexible
andcheap.Ithasalowcost.Somesmallbankoverdraftevenhasafreeofcharge.
SSPplchadnooverdraftbutthenumberincreasedto￡86,000in2004.The
showsthatthecompanyborrowedmoneyfrombankforitsexpansioninGlasgow.
Long-termsources:
1.Debentures:
Debenturesareloansmaketocompaniesthatcarryafixedrateofinterest.The
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company’fixedsassetsnormallysecuredebentures.Debentureshaveafixedtime
periodoranopentimeperiod.Theshareholdersarenotdebentureholders.A
debentureinterestispaidasanexpensenotanappropriationofprofit.
SSPplchasafixeddebenture（￡1,560,000）intheyearof2003and2004.Ittellsusthe
company’sfixedassetsaresteady.
2.Ordinaryshares:
Ordinaryshareholdersreceivingpay-outsfromcompanyafterpreferenceshareholders
arepaid.Ordinarysharedividendsarenotfixedandsubjecttocompany
performancesanddecisionsofmanagementinpayingdividend.
InSSPCompany,theordinarysharecapitalis￡1,950,000andin2004both.It2003
infersthatthecompanyhasasteadyoperationsituation.
3.RetainedProfits
Theretainedprofitisthefinancebroughtfromthelastfinancialperiod.Itisnotfixed
andmaybeanegativenumber.Itpresentsoperationalsituationoflastperiod.
Theretainedprofitsdecreasedfrom505,000￡to420,000￡.Thepercentagechangeof
decreaseis16.83%.Thelowerratioshowsusthecompanyhadmadefewerprofitsin
2003thenitwasin2002.
Section3.RatioAnalysis
1.
MajorinflowsisNetcashflowop
eratingactivatesof
￡1,345,000.
MajoroutflowisPaymentstoacquirefixedassets,whichtakes
￡984,
2.
RatioAnalysis
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ProfitabilityRatios:
GrossProfitPercentage=Grossprofit/Turnoverx100%
2003:
GPP=
￡7,000,000/
￡11,674,000x59100.96%=
2004:
GPP=
￡8,037,000/
￡13,382,000x60100.06%=
Trend:
Increase
Analysis:
Theincreaseofratioisagoodsign.Thepositivetrendcanbeanindication
thatstockcontrolofmeatproducthasimproved,demandforthemeatproducthas
increasedafterthediseases,orpurchasingpolicieshaveimproved.Themanagers
shouldkeepthegoodtrendandgoondevelopit,suchasimprovingmarketing
strategy,settingbetterpricingpolicy,orimprovingstockcontrol.
NetProfitPercentage=NetProfitbeforeTaxation/Turnoverx100%
2003:
NPP=
￡1,182,000/
￡11,674,000x10100.13%=
2004:
NPP=
￡901,000/
￡13,382,000x6100.73%=
Trend:
Decrease
Analysis:
Thedecreaseoftheratioisabadsignthatitindicatesalowprofitofthe
company.FromtheP&LAccountoftheSSPplc,weknowthatalthoughthegross
profitincreased,theoperationcostismuchhigherin2004;itleadstoadecreasein
netprofit.Sothemanagersshouldthinkabouthowtodecreaseouroperationcostto
helpourcompanyearnmoreprofit.
LiquidityRatios:
CurrentRatio=TotalCurrentAssets/TotalCurrentLiabilities
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2003:
CR=
￡1,195,000/
￡767,000=1.56
2004:
CR=
￡1,248,000/
￡701,000=.78
Trend:
Increase
Analysis:
theincreaseofratioisagoodsign.Generallyspeakingahealthycurrentratio
isatleast2:
1.The1.56and1.78indicatethecompanyisalittlebitovertradingand
havedifficultyinmeetingitsshort-termdebts.Themainreasonfortheincreaseisthe
increaseinthetotalcurrentassetsanddecreaseinthetotalcurrentliabilities.I
suggestthatthecompanymaykeep
moreprofitfortheshort-termdebts.
TheAcidTestRatio=LiquidAssets/CurrentLiabilities
2003:
（
￡1,195,000-￡608,000）/
￡767,000=.77
2004:
（
￡1,248,000-￡796,000）/
￡701,000=.64
Trend:
Decrease
Analysis:
Thedecreaseisabadsign.Theratioshouldbe1:
1.Buttheratioinbothof
2003and2004islessthat1.Andunfortunately,theratioisstilldecreasing.SSPplc
meetsaliquidityproblemthattheliquidassetsdecrease.Thecompanymanagers
shouldpayattentiontothisratioandorganization’sdevelopment.
EfficiencyRatios:
FixedAssetTurnover=Turnover/FixedAssets
2003:
￡11,674,000/
￡4,017,000=2.91times
2004:
￡13,382,000/
￡4,318,000=.10times
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Trend:
Increase
Analysis:
Wherethisratiogasincrease,thisisagoodsign.Itindicatesthattheexisting
fixedassetsaregeneratingmoresalesandmaybeinvestmentinnewfixedassetsgas
couldbebeenpaidoff.ManagersofSSPplcshoulddevelopandfocusonit.
DebtorsCollectionPeriod=Debtors/Turnoverx365
2003:
￡306,000/￡11,674,0009x.57365=days
2004:
￡452,000/￡13,382,00012x365=.33days
Trend:
Increase
Analysis:
ItisabadsignthatthereisanincreaseinDCP.ItindicatesthatSSP’sm
haveapoorcreditcontrolofpoorinvoicingsystem.Thebaddebtsmayalsoincrease.
TheleadersofSSPshouldchecktheirinvoicingandremindersystemtokeeptheratio
aproperrange.
InvestmentRatios:
InterestCover=ProfitBeforeInterest&Tax/InterestCharges
2003:
￡1,416,000/
￡234,000=6.05
2004:
￡1,135,000/
￡234,000=.85
Trend:
Decrease
Analysis:
Thisratioshowshowcapablethecompanyisofcoveringitsinterestcharges.
Thedecreaseisnotgoodbecausethecompanyislessabletomeetitsinterest
payments.Buttheratioisstillinareasonablerange.Leadersshouldtrytoincrease
company’sprofittokeepthisratioahighlevel.
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DebtRatio=TotalDebts/TotalAssetsx100%
2003:
（
￡767,000+
￡1,
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