The Role of God in Miracles - 916 Words

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Renewable Is Sustainable For Renewable Energy - 1105 Words

Renewable is Sustainable Soon, planet Earth will run out of the resource that once was thought to be reliable. Earth is in great danger of self destructing if there is no backup plan. This is where renewable resources come in. Renewable resources are abundant and do not damage the environment, so they are a sustainable method to produce energy. The options for renewable energy are solar, wind, hydro, biomass, and geothermal. Why should Earth abandon the systems that they have in place at the moment? The reason behind adopting renewable energy is because the system that is in place today is unsustainable. It is unsustainable for many reasons. Fossil fuels, which include coal, oil, and natural gas, are the main source of energy in today s world, but bring a wide variety of adverse effects (Cooper, Renewable Energy). Burning these fossil fuels releases harmful pollutants into the environment, with the main one being carbon dioxide. 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Business Accounting Vertical Business Analysis

Question: Discuss about the for Business Accounting for Vertical and Horizontal Business Analysis. Answer: 1) (a) Vertical Analysis of Income Statement of SIA Ltd.: Vertical analysis of Income Statement of SIA Ltd. for period ending 31 March 2015 and 2014 2015 2014 Amount ($) Percent (%) Amount ($) Percent (%) Revenue 15,565.50 100% 15,243.90 100% Expenditure Staff costs 2,335.20 15.00% 2,336.70 15.33% Fuel costs 5,579.70 35.85% 5,702.10 37.41% Depreciation 1,538.80 9.89% 1,575.50 10.34% Impairment of property, plant and equipment 1.5 0.01% 20.2 0.13% Amortization of intangible assets 25.9 0.17% 25.7 0.17% Aircraft maintenance and overhaul costs 668.6 4.30% 641.8 4.21% commission and incentives 375.6 2.41% 346.6 2.27% Landing, parking and overflying charges 747.9 4.80% 716.6 4.70% Handling charges 1,066.20 6.85% 1,038.70 6.81% Rentals on leased aircraft 839.5 5.39% 649.5 4.26% Material cost 176.7 1.14% 223.1 1.46% In flight meals 553.5 3.56% 549.1 3.60% Advertising and sales costs 258.5 1.66% 257.6 1.69% Insurance expenses 44.9 0.29% 41.5 0.27% Company accommodation and utilities 119.5 0.77% 119.1 0.78% Other passenger costs 175 1.12% 173.3 1.14% Crew expenses 146.4 0.94% 144.7 0.95% Other operating expenses 502.7 3.23% 422.8 2.77% 15,156.10 97.37% 14,984.60 98.30% Operating profit (Revenue - Expenditures) 409.4 2.63% 259.3 1.70% Finance charges -49.6 -0.32% -37.3 -0.24% Interest income 74.9 0.48% 62.7 0.41% Surplus on disposal of aircraft, spares and spare engines 51.9 0.33% 51.2 0.34% Dividends from long-term investments 13.2 0.08% 19.6 0.13% Other non-operating items -14.3 -0.09% 1.9 0.01% Share of profits of joint venture companies 52 0.33% 94 0.62% Share of losses of associated companies -129.1 -0.83% -45.2 -0.30% Profit before exceptional items 408.4 2.62% 406.2 2.66% Exceptional items 34.5 0.22% -38.3 -0.25% Profit before taxation 442.9 2.85% 367.9 2.41% Taxation -36.2 -0.23% 56.5 0.37% Profit for the financial year 406.7 2.61% 424.4 2.78% Note: All amounts are in million $ (Annual report of Singapore airlines, 2015). Vertical analysis of income statement shows relation between all available items of profit and loss account. All items in income statement represents as a percent of total revenue or sale (Albrecht, Albrecht, Albrecht Zimbelman, 2011) As per the vertical analysis of income statement of SIA limited, revenue increases in 2015 while percentage of expenses decreases and profit for the year decreases due to taxation in 2015 with compare to 2014. It shows that companys performance is not good. Companys expenses are high so it is getting low profits. Although SIA Ltd reduces expenses in 2015 but percentage of reduction of expenses is low so company should reduce its expenses more to getting high profits. It will also improve the performance of company. (b) Horizontal Analysis of Income Statement and Balance Sheet of SIA Ltd.: Horizontal analysis of Income Statement of SIA Ltd. for period ending 31 March 2015 and 2014 2015 2014 Decrease / Increase Amount ($) Amount ($) Amount ($) Percent (%) Revenue 15,565.50 15,243.90 321.60 2.11% Expenditure Staff costs 2,335.20 2,336.70 -1.50 -0.06% Fuel costs 5,579.70 5,702.10 -122.40 -2.15% Depreciation 1,538.80 1,575.50 -36.70 -2.33% Impairment of property, plant and equipment 1.5 20.2 -18.70 -92.57% Amortization of intangible assets 25.9 25.7 0.20 0.78% Aircraft maintenance and overhaul costs 668.6 641.8 26.80 4.18% commission and incentives 375.6 346.6 29.00 8.37% Landing, parking and overflying charges 747.9 716.6 31.30 4.37% Handling charges 1,066.20 1,038.70 27.50 2.65% Rentals on leased aircraft 839.5 649.5 190.00 29.25% Material cost 176.7 223.1 -46.40 -20.80% In flight meals 553.5 549.1 4.40 0.80% Advertising and sales costs 258.5 257.6 0.90 0.35% Insurance expenses 44.9 41.5 3.40 8.19% Company accommodation and utilities 119.5 119.1 0.40 0.34% Other passenger costs 175 173.3 1.70 0.98% Crew expenses 146.4 144.7 1.70 1.17% Other operating expenses 502.7 422.8 79.90 18.90% 15,156.10 14,984.60 171.50 1.14% Operating profit (Revenue - Expenditures) 409.4 259.3 150.10 57.89% Finance charges -49.6 -37.3 -12.30 32.98% Interest income 74.9 62.7 12.20 19.46% Surplus on disposal of aircraft, spares and spare engines 51.9 51.2 0.70 1.37% Dividends from long-term investments 13.2 19.6 -6.40 -32.65% Other non-operating items -14.3 1.9 -16.20 -852.63% Share of profits of joint venture companies 52 94 -42.00 -44.68% Share of losses of associated companies -129.1 -45.2 -83.90 185.62% Profit before exceptional items 408.4 406.2 2.20 0.54% Exceptional items 34.5 -38.3 72.80 -190.08% Profit before taxation 442.9 367.9 75.00 20.39% Taxation -36.2 56.5 -92.70 -164.07% Profit for the financial year 406.7 424.4 -17.70 -4.17% Note: All amounts are in million $. Horizontal analysis of income statement shows increase or decrease in amount or percent of current year, on the basis of previous year (Gibson, 2012). Horizontal analysis shows that revenue increases by 2.11% while expenditures increases only 1.14% and profit for the year decreases by 4.17% in 2015 with compare to 2014 of SIA Ltd. Company should reduce its expenditures to increasing revenue. Profits of the company reducing due to charges of taxation. Horizontal analysis of Balance Sheet of SIA Ltd. as at 31 March 2015 and 2014 2015 2014 Increase / Decrease Amount ($ millions) Amount ($ millions) Amount ($ millions) Percent (%) Equity attributable to owners of the Parent Share capital 1,856.10 1,856.10 0.00 0.00% Treasury shares -326.3 -262.2 -64.10 24.45% Other reserves 10,049.50 10,518.20 -468.70 -4.46% 11,579.30 12,112.10 -532.80 -4.40% Non-controlling interests - - - - Total equity 11,579.30 12,112.10 -532.80 -4.40% Deferred account 115.1 213.1 -98.00 -45.99% Deferred taxation 1,325.50 1,516.20 -190.70 -12.58% Long-term liabilities 1,001.00 800 201.00 25.13% Provisions 682.9 555.8 127.10 22.87% Defined benefit plans 152.4 162 -9.60 -5.93% 14,856.20 15,359.20 -503.00 -3.27% Represented by: Property, plant and equipment Aircraft, spares and spare engines 7,700.30 8,378.10 -677.80 -8.09% Land and buildings 59.9 64.9 -5.00 -7.70% Others 2,146.20 1,815.90 330.30 18.19% 9,906.40 10,258.90 -352.50 -3.44% Intangible assets 159.4 157.9 1.50 0.95% Subsidiary companies 3,364.70 2,021.60 1,343.10 66.44% Associated companies 472.4 313.5 158.90 50.69% Joint venture companies Long-term investments 1,100.20 1,045.10 55.10 5.27% Other receivables 17.9 92.2 -74.30 -80.59% Deferred account 36.3 - 36.30 - Current assets Inventories 131.7 169.2 -37.50 -22.16% Trade debtors 993.7 1,113.20 -119.50 -10.73% Deposits and other debtors 22.5 20.3 2.20 10.84% Prepayments 92.9 83.5 9.40 11.26% Amounts owing by subsidiary companies 311.5 599.9 -288.40 -48.07% Investments 102.7 233.3 -130.60 -55.98% Derivative assets 107 133.3 -26.30 -19.73% Cash and bank balances 4,646.50 4,623.80 22.70 0.49% Assets held for sale - - - - 6,408.50 6,976.50 -568.00 -8.14% Less: Current liabilities Sales in advance of carriage 1,328.60 1,376.40 -47.80 -3.47% Deferred revenue 612.5 572.9 39.60 6.91% Current tax payable 111.4 161.8 -50.40 -31.15% Trade and other creditors 2,088.60 2,287.40 -198.80 -8.69% Amounts owing to subsidiary companies 1,048.70 1,034.80 13.90 1.34% Finance lease commitments - - - - Loans - - - - Notes payable 300 - - - Provisions 138 44 94.00 213.64% Derivative liabilities 981.8 29.2 952.60 3262.33% 6,609.60 5,506.50 1,103.10 20.03% Net current assets/(liabilities) -201.1 1,470.00 -1,671.10 -113.68% 14,856.20 15,359.20 -503.00 -3.27% Horizontal analysis of balance sheet represents increase or decrease in assets or liabilities in current year, on the basis of previous year (Hermanson, Edwards Ivancevich, 2006). Horizontal analysis of balance sheet of SIA limited shows that companys financial position is not good. As companys total equity reducing by 4.40% and current assets are decreasing by 8.14% while current liabilities increasing by 20.03% so net current assets decreasing with 113.68% which is too high decrement. So it is advised to company that liabilities should be decreases to improve the financial position of organisation. 3) Ratio Analysis: Ratio analysis is a process of determining relation between two figures of financial statements. It is beneficial to know financial position of company. Ratios are useful in identify companys performance by comparing data of two or more years. Calculation of Ratio analysis: Particulars Ratio Calculation 2015 2014 Liquidity Ratios Current Liabilities 6,609.60 5,506.50 Current Assets 6,408.50 6,976.50 Current Ratio Current Assets / Current Liabilities 0.969574558 1.266957232 Stock 131.7 169.2 Prepaid Expenses 92.9 83.5 Liquid Assets Current Assets - Stock Prepaid Expenses 6,183.90 6,723.80 Liquid Ratio Liquid Assets / Current Liabilities 0.935593682 1.221066013 Cash and bank balances 4,646.50 4,623.80 Marketable securities / Short term investment 102.7 233.3 Absolute Liquid Assets Cash in hand + Cash at bank + Marketable securities 4,749.20 4,857.10 Absolute Liquid Ratio Absolute liquid assets / Current liabilities 0.718530622 0.882066649 Expenses 15,156.10 14,984.60 Revenue 15,565.50 15,243.90 Efficiency Ratio Expenses / Revenue 0.973698243 0.982989917 Stock Turnover Ratio Net Sales / Inventory 118.1890661 90.09397163 Receivable turnover ratio Net credit sales / Average account receivable 15.66418436 13.69376572 Working Capital Current Asses - Current Liabilities -201.10 1,470.00 Working Capital Turnover Ratio Net Sales / Working Capital -77.40179015 10.37 Tangible Assets 9,906.40 10,258.90 Intangible Assets 159.4 157.9 Fixed Assets Tangible + Intangible Assets 10,065.80 10,416.80 Fixed Assets Turnover Ratio Net Sales / Fixed Assets 1.546374853 1.463395669 Capital Turnover Ratio Sales / Capital Employed 1.344252243 1.258567878 Profitability Ratio Operating Profit 409.4 259.3 Operating Profit Ratio (Operating Profit / Net Sales) * 100 2.630175709 1.701008272 Net profit after tax 406.7 424.4 Net Profit Ratio (Net profit after tax / Net Sales) * 100 2.612829655 2.784064445 Shareholder's fund / Equity / Capital Employed 11,579.30 12,112.10 Return on Investment Ratio [Net profit (after interest and tax) / Shareholder's fund] * 100 3.512302125 3.503934082 Fixed Assets 9,906.40 10,258.90 Gross capital employed Fixed Assets + Current Assets 16,314.90 17,235.40 Return on capital employed Ratio (Net profit after taxes / Gross capital employed) * 100 2.492813318 2.462373951 No. of equity shares 1,199,851,018 1,199,851,018 Earnings per share ratio Net profit after tax and preference dividend / no. of equity shares 338.958749 353.7105804 Solvency Ratio Long Term Liabilities 1001 800 Debt - Equity Ratio External Equity / Internal Equity or Long term debt / Shareholder's Fund 0.086447367 0.066049653 Total Assets (14856.20+6609.60) and (15359.2+5506.5) 21,465.80 20,865.70 Proprietary Ratio Shareholder's Fund / Total Assets 0.539430163 0.580478968 Equity share capital 1,856.10 1,856.10 Fixed Interest Bearing Funds Debentures + Preference Share Capital + Other Long Term Loan 1001 800 Capital Gearing Ratio Equity share capital / Fixed Interest Bearing Funds 1.854245754 2.320125 As per ratio analysis, companys liquidity ratios are decreasing in 2015 with compare to 2014 while turnover ratios are increasing in 2015. Earnings per share are decreasing in 2015. It shows companys financial position is not strong. 4) Comment on businesss performance and financial position from the viewpoint of a director: By analysis of income statement, it is found that companys revenue, expenditures, operating profit and profit before tax are increased in 2015 from 2014. But final profit for the year decreases due to adjustment of taxation. Singapore airlines financial position is not good. In 2014 currents assets are more than current liabilities but in 2015, current assets are less than current liabilities. The standard current ratio for strong company must be 2:1. Means current assets should be double of current liabilities. In 2014, current ratio is 1.27:1 whether in 2015 it falls down to 0.97:1. This shows that companys current assets are less than its current liabilities. It shows, Singapore airlines find difficulty to pay its liabilities. The satisfactory quick or liquid ratio must be 1:1. Singapore airlines liquid ratio in 2014 was 1.22:1 which falls to 0.94:1 in 2015. It reflects that companys liquidity position falls down which is not good. If absolute liquid ratio is 1:2, then it is optimal. Singapore airlines absolute liquid ratio in 2014 was 0.88 and in 2015 was 0.72. It is quite satisfactory because optimum value is 50%, while absolute liquid ratio is higher than optimum value. Relation between net sales or revenue and other items (like inventory, working capital, fixed assets and capital employed) is known as turnover / efficiency / performance / activity ratio. These ratios can help in improving efficiency or performance of business. Stock turnover tells, whether investment in stock is efficiently utilized or not. It also indicates, how many times the inventory turnover in business during a financial year. In 2014, it is 90.09 times which increases in 2015 to 118.19 times. It reflects that investment in stock is utilized effectively. Working capital turnover ratio tells about the effective utilization of working capital. If working capital ratio is higher, it is good and shows proper utility of working capital. In 2014, it is 10.37 times which is good but in 2015, it is negative due to negative working capital. Working capital is negative in 2015 because current liabilities are higher than current assets. By the use of fixed assets turnover ratio, performance of asset management can be identified. Higher fixed asset turnover ratio shows effective utilization of fixed assets. Singapore airlines fixed asset turnover ratio increases in 2015 compare to 2014. It highlights utilization of fixed assets increases. Efficiency in capital utilization can be identified by capital turnover ratio. In 2015, it is higher than 2014. So it tells, performance of business is good. Profitability ratio shows profit earning capacity of business. Singapore airlines operating profit ratio increases in 2015 with compare to 2014 but net profit ratio decreases in 2015 with compare to 2014. This net profit ratio decreases due to adjustment of taxation. Return on investment ratio and return on capital employed ratio increases in 2015 which shows good financial position of company and it is also beneficial for shareholders of company. Solvency ratio is used to know the capacity of business to fulfill its short-term and long-term obligations. Ideal debt-equity ratio is 1:1. The companys debt- equity ratio is less than 1 which is not good. Capital gearing ratio was better in 2014 with compare to 2015. Finally as per financial statements and ratio analysis, overall business performance and financial position is good (Morris, McKay Oates, 2009). References: Albrecht, W. S., Albrecht, C. O., Albrecht, C. C. Zimbelman, M. F. 2011. Fraud Examination. (e.d. 4). Cengage Learning Axel, T. 2012. Ratio Analysis Fundamentals: How 17 Financial Ratios Can Allow You to Analyse Any Business on the Planet: RatioAnalysis.net Gibson, C. H. 2012. Financial Reporting and Analysis. (e.d. 13). Cengage Learning Hermanson, R. H., Edwards, J. D. Ivancevich, S. H. 2006. Managerial Accounting. (e.d. 8). Freeload Press, Inc. Morris, G. D., McKay, S. Oates, A. 2009. Finance Directors Handbook. Elsevier Peterson, P. P. Fabozzi, F. J. 2012. Analysis of Financial Statements. (e.d. 2). John Wiley Sons Singapore airlines. 2015. The Path of Progress Annual Report. Retrieved on 22 Aug 2016 from https://www.singaporeair.com/en_UK/sg/about-US/information-for-investors/annual-report/