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The company generated a healthy revenue of 8, 758£ millions and earned a record profit before tax of 922£ millions (10% gross margin) in the last fiscal year 2007/2008 (from 1st April to 31st March) because of the company’s strategy to offer high quality services to business travelers, individuals, households and investors so that it could be able to create a pool of loyal and highly satisfied customers. The airline aimed to become a world-class airline service provider through innovation and improvement in all the operations including its fleet, management, service-quality, technology and others etc. to become cost-efficient and competitive against low-cost carriers such as easy jet and others.
However, the changes in international business environment made things difficult for all the airlines across the world. The global economic downturn, credit crunch (that resulted in devastating financial crises) and extremely high oil and commodity prices in the international market affected everything such as sales, revenue and income forecasts, growth prospects and future business expansion, existing organizational policies, strategies and business plans. Inflation and unemployment compelled the customers to tighten their belts and save their valuable money in an unstructured, unpredictable, unclear, uncertain and an insecure environment. Airlines and auto-manufacturers were greatly affected from these changes. Consumers reduced their air travel programs and postpone their leisure trips whereas businesses that have relatively inelastic air travel demand for overseas operations also started devising ways to gain maximum from a short business trip to minimize their escalating expenditures. In fact, they started demanding more value for their money and became less loyal to air brands. They were willing to travel through a new travel service if it offered less than a brand like British Airways. Changes in foreign
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Critically assess how the use of IFRSs contributes to increased transparency for stakeholders, and the extent to which IFRSs can influence economic stability. You should develop your arguments in the context of appropriate accounting theory. The international business scenarios has evolved in the last decades more than it had for many previous years.
The aviation companies take responsibility in case weather related issue arises. Pilots encounter weather related dangers in the airport and en-route. These include icing, turbulence and low levels of wind shear. Despite technological developments, weather forecasting presentation and dissemination of weather related data still provides a challenge.
The paper comprises 3 questions, each related to aspects pertaining to environmental reporting. It begins with an initial introduction about the aspects of environmental compliance and reporting.The first question is in connection with two provided annual reports of Halma plc and United Utilities plc, which required critical evaluation adequacy of disclosures given in the reports regarding environmental reporting.
Introduction In today’s world the primary objective of a firm is to survive the cut-throat competition and one way to do that is to make more profits and add value to shareholders’ wealth.The ladder of success for any firm is ‘growth’ which can be achieved either by expanding existing resources or introduction of new products and services.
Their analysis for giving loan to companies includes:
The bank for providing loan to small firms and companies would analyze many things including spreadsheets of the balance sheets and income statements for two to three historical years and two projected years as well as a pro forma balance sheet at loan closing that reflects the post-closing status.
These standard are rigid and do not vary from one business to another. Ever business is bound to follow these standards in order to maintain the usefulness of information that is displayed in financial
IAS 38 is applicable to those intangible that are not dealt in by other IAS. The examples of intangibles are brand names, franchises, computer software, licenses, and intangible under development.
The intangible should have a separate identification and the entity should
o support the International Accounting Standard Board through identifying the theories that will be used by it consistently when revising and developing IFRSs (International Financial Accounting Standard) (Rutherford, 2000). The conceptual framework seeks to ascertain that the