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Introduction to Accounting and Finance - Report Example

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This report "Introduction to Accounting and Finance" gives an overview of the company’s performance in the last financial year. In this section of the report, the management discloses its strategic plan for the coming future. It provides a brief idea about the past performance of the company…
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Introduction to Accounting and Finance
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Download file to see previous pages The CEO, on the other hand, is responsible for management related activities and proper implementation of the policies. In the annual report, the CEO announces the performance of the company in the last financial year, its achievements and the associated financial and economical risks. Hence the statements of the chairman and the CEO are slightly different from one another.
Before making an investment in a company the potential investors conduct fundamental research to understand the financial position of the company. Investors are concerned about the company’s ability to generate future financial returns and maintain a sound growth. The CEO’s statement in the annual report reflects the financial performance of the company in the last financial year. It not only discusses the change in revenue and expenditure but it also provides specific reasons behind these changes. The CEO’s statement provides the investors with the basic idea regarding the company’s plans to manage its financial position in an upcoming future.
Financial risk: Hike in crude oil price in the year 2008 resulted in high operating expenses and the profit margin declined. In near future revenue may further decline. The high debt-equity ratio also indicates increased financial risk and possibility of insolvency.
High competition: the market in which British Airways operates is quite competitive. Increased globalization has lead to the entry of many new players which have resulted in a high degree of competition.
Changing legal policies: To cope with the changing legal policies in the UK as well as in other international nations the management of British Airways needs to introduce certain changes. This might hamper the company’s present performance.
After the financial report is submitted by the company, it is the responsibility of the auditor to verify all the information through the auditing process. The auditor verifies the financial data and determines the reliability of the financial statement provided by the company.  ...Download file to see next pagesRead More
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