Financial Accounting Group Assignment Module: ACFI 3201 Accounting 3 Name: Jiefeng LIU p09011270 Chen GONG p09011375 Ting ZHANG p09260791 Ling WANG p09259669 Time: 16 December, 2010 Summary With TUI Travel PLC group revenue for 2009 was slightly lower than the prior year at £13,863m (2008: £13,932m) and adjusted profit kept showed deficit in recent years. TUI Travel needs to take over a company (WH Smith Plc) which has a strong free cash flow to rebalance its financial weaknesses. Simultaneously, the operation principles by WH Smith are useful to TUI Plc to keep further profit growth and strong cash generation. This report aims to evaluate the necessity and feasibility for the acquisition of WH Smith by …show more content…
In addition, The Annual Report (2009) for TUI Travel Plc also set out the main reasons for the increase of net debt, compared with the amount of 2008: “...1) The cash impact of costs incurred to deliver the synergy benefits; 2) A working capital outflow driven by capacity reductions and the later booking curve; 3) Acquisitions made in the year; and an adverse impact arising on the translation of foreign currency denominated debt...” • Due to the Volcanic ash in the atmosphere, there is a reduction in the volume of holiday by widespread closure of European airspace. The extra cost, as welfare, compensation and repatriation, for the customers who were stranded in resort and the cancelled holidays is around £90m 2.3 Opportunity • Although the bad weather affects the profit and share price for the company, yet in the other side, it is also an opportunity for the company to establish and fixing its own brand consciousness. For instance, the bad weather will arouse the closure for the airport. At this time, compared with the small company, a large company such as TUI Travel Plc should supports satisfaction place for the retention customers, even pay particular amount of competence. This is an opportunity to apply their high level and quality service. • As the investment in the Russian market, the large potential of the Russian market can brings more opportunities for TUI Travel. The operational Highlights (Annual Report, 2009)
The remainder of this note discusses each of the steps in the process and then provides an exercise on the various financial measures that are useful as part of the analysis. The final section of the note demonstrates the relationship between a firm’s strategy and operating characteristics; and its financial characteristics.
P4) Review factors that have contributed to one declining destination (Cyprus) and one developing (Greece) in the European travel market.
The relevance of evaluating both the financial performance as well as position of Tesco PLC cannot be overstated. This is more so the case given the need to determine the stability and viability of the company going forward. This text seeks to evaluate the financial performance as well as position of Tesco PLC by amongst other things analyzing the entity's financial statements. In this case, the evaluation will be based on the company's recently published annual accounts.
11. Investors and creditors are particularly interested in this financial statement because it tells them what is happening to the company’s most important resource?
Grief is a state of powerful emotion, when friends and relatives are plagued with guilt and regret over unspoken words and wasted moments. This is the emotive basis for the powerful poem 'You 'll take a bath ' by Scot 's poet Iain Crichton Smith.
* This increase is mainly because of the 26.74% increment in PBIT but the assets went up only by 21.66%.
In the colonial era, many explorers went to the new world. These explorers were in search for land and money. But unfortunately the native americans were already there. Many of these tribes disliked the explorers while others welcomed them to their village. Two of these many explorers was Captain John Smith and William Bradford. Each of these men travelled to the new world and had different responses from the natives.
Winston Smith is a thirdy-nine-year-old intellectual, fatalistic, frail and a thin man which is the minor member of the ruling Party in near-future London. We experience the nightmarish world that the writer envisions through his eyes. Winston is extremely pensive, curious and desperate to understand how and why the Party exercises has such absolute power in Oceania. He passionately hates the totalitarian control of his government and the Party. He has his own revolutionary dreams.He wants to test the limits of its power and he commits crimes, have an illegal love affair with Julia to get himself secretly into the anti-Party Brotherhood.
It was a pleasure to meet with you last week. This memo is in regard to your concerns that you mentioned during our meeting and my recommendation for each one. Please review this memo and call me if you have any questions. 1) John Smith tax issues: a. How is the $300,000 treated for Purposes of Federal Tax income? Gross income means” all income from whatever source derived, including (but not limited to the following items: Compensation for services, including fees, commissions, fringe benefits, and similar items…..” (http://www.taxalmanac.org/index.php/Internal_Revenue_Code:Sec._61._Gross_income_define d#Location_in_Internal_Revenue_Code) According to IRC Publication 3402 Taxation of Limited Liability Companies “an individual owner of a
Exchange rate gains or losses are brought to account in determining the net profit or loss in the period in which they arise, as are exchange gains or losses relating to cross currency swap transactions on monetary items. Exchange differences relating to hedges of specific transactions in respect of the cost of inventories or other assets, to the extent that they occur before the date of receipt, are deferred and included in the measurement of the transaction. Exchange differences relating to other hedge transactions are brought to account in determining the net profit or loss in the period in which they arise. Foreign controlled entities are considered self-sustaining. Assets and liabilities are translated by applying the rate ruling at balance date and revenue and expense items are translated at the average rate calculated for the period. Exchange rate differences are taken to the foreign currency translation reserve.
Painter. He was a well-known Canadian landscape artist best known for his works of the Rocky Mountains and the Selkirk Range (a mountain range spanning the Idaho Panhandle, the state of Washington, and the southeastern province of British Columbia). Born in London, England, to portrait painter and minaiturist John Bell-Smith and his wife, Georgina Boddy Bell-Smith, he began his art training under his father at a young age before immigrating to Montreal in 1867. After his arrival in Canada, he worked for several photographic firms beginning in Montreal, and then Toronto, and Hamilton. It was around this time that he also began to exhibit an interest in watercolours. By 1881, he was made the art director of the Alma College located in St. Thomas,
This report discusses the impact of the Mt Ontake volcanic eruption in tourism industry. Firstly, the issue and factor in tourism related to the loss of economic benefit in a period would be analyzed. This includes how it impacts the Mt Ontake, as it both is valuable nature resource and culture
The company entered into dubious transactions, especially with Doug Mather. This helped contribute to the cash flow problems. The company needs to avoid these transactions in the future.
British Airways (BA) is a company that encountered several difficulties back in the 1970’s and 1980’s. The poor performances of the organization, was leading the company to failure. BA was offering a service that even though it accomplished the mission of the company, was not providing customer satisfaction. The organization was not taking into consideration the needs of the costumer and was not providing an acceptable customer service experience. “Productivity at BA in the 1970s was strikingly bad, especially in contrast to other leading foreign airlines” (Jick, Peiperl, 2010, p.28). Due to numerous changes, the company increased their revenues and became a respectful and well know organization.