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Accounting Assignment - Essay Example

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The reports of the company’s top officers present in narrative form the significant events of the year and their effects on the company. These pages also include reports on the prevailing risks and issues that…
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Accounting Assignment
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Accounting Assignment

Download file to see previous pages... Both the Chairman’s Statement (CS) and the Chief Executive’s Review (CER) describe 2009 as a very difficult year. They both emphasized that the company’s loss before tax is a natural consequence of the drastic turnaround in the global economies. They also both affirmed the company’s commitment to do its part in combating climate change even if the prevailing adverse economic situation. They as well mention BA’s long-term goal of becoming a leader in the global arena of the airline industry.
The CS tackled specific issues that pertained not just to BA but to the entire airline industry of UK. The CS is written from a point of view that sees BA as a primary industry player with respect to the rest of the industry and the business world at large. It discusses the ongoing battles for government regulations that would be favorable for the industry and for BA, the current status of BA’s talks with other airlines regarding mergers and the general trend of the world’s airline industry. The CS also talks of matters that concern BA’s shareholders such as the decision to declare no dividends and to give no bonuses to senior management for the year.
In contrast, the CER covers more of BA’s internal issues. It talks of how BA’s implemented cost-cutting measures to combat ill effects of the economic slowdown and of how BA works on further improving its overall customer service to achieve even higher satisfactory ratings. It also talks of the management’s decision to give no salary increases to employees for the year.
The CFO’s Report contains information that a potential investor like Paul should be interested in. One is the basic earnings per share figure that is -32.6 pence; another is the reduction of BA’s other reserves by £988 million which will significantly reduce the company’s shareholders’ equity. The third is the recommendation of BA’s ...Download file to see next pagesRead More
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