Financial Statement Analysis of Gul Ahmed free essay sample

First the balance sheet summarizes the asset, liabilities, and owners equity of a business at a moment in time, usually the end of a quarter or year. Income statement summarizes the revenues and expenses of the firm over a particular period of time, again usually year or at the end of a quarter. Simply the balance sheet represents the company position at a given point in time and income statement shows the summary of the firm profitability over time. The tool we are using in this project is Ratio analysis, Index analysis, and common size analysis. Ratio Analysis: Ratio analysis involves methods of calculating and interpreting financial ratios to analyze and monitor the firm performance. Types of Ratio: Financial ratio can be divided for convenience into four categories: liquidity, activity, debt, and profitability. Activity liquidity and debt ratios primarily measure the risk and profitability ratios measure the return. We are using these ratios to analyze the financial reports and the current position of the GULL AHMED Company. We will write a custom essay sample on Financial Statement Analysis of Gul Ahmed or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Liquidity Ratios: The liquidity of a firm is measured by its ability to satisfy its short term bligations as they come due or refers to the solvency of the firm overall financial position. In liquidity ratios we are finding the liquidity of the proposed company through these two ratios 1) Current ratio the most commonly cited financial ratio measure the firm ability to meet its short term obligation, its expressed as follows: Current ratio = Current assets Current liabilities The current ratio of the Gull Ahmed Company of year 2009 is 7359272000 7749618000 = 0. 90 Time series or Trend analysis: The remaining year’s current ratios are obtained through this method. The table of five year ratio is given below: Year| 2009| 2008| 2007| 2006| 2005| Current Ratio| 0. 95| 0. 9| 0. 95| 1| 1. 05| Generally the higher the current ratio the more liquid the firm is considered to be but in many cases it depends upon the nature of the firm. Now it is clearly shows from the above table that the company current ratio is not good. It’s continuously declining but after year 2008 there is some little increase in current ratio. The main reason of this decline or poor performance is increasing in current liabilities. However there is also increase in current assets but the proportion of liabilities is greater than the current assets. In 2007 current liabilities is the 54. 75% of the total liabilities and equity, and in 2008 it was 57. 45 and in 2009 it was 57. 05 %. The reason of this increase in current liabilities is short term borrowing, current maturity of long term loans and trade and other payable which is continuously increasing. The overall decrease in current asset ratios during these five years is -9. 5%. Industry analysis: the industry comparison for Gull Armed company current ratio is given below with table. ears| Gull Ahmad| Industry average| 2005| 1. 05| 1. 10| 2006| 1| 1. 15| 2007| 0. 95| 1. 25| 2008| 0. 9| 0. 95| 2009| 0. 95| 0. 87| In industry analysis which is the combination of cross sectional and time series makes us to assess the trend in the behavior of the ratio in relation to the trend for the industry. As we know that higher the current ratio the better is considered. So from the above table and graph it is clearly shows that at the initial years the industry average is better from the company till 2008, but after this the company ratio is increased from the industry ratio. Quick Acid Test Ratio: A more conservative measure of liquidity is the acid test or quick ratio which is actually the measure of liquidity calculating by dividing the firm’s current assets minus inventory by its current liabilities. Formula: Quick acid ratio = Current assets – inventory Current liabilities The quick acid ratio of the Gull Ahmed Company of year 2009 is = 7359272000-4333234000 7749618000 = 0. 9 Above stated ratio shows the firm’s ability to meet its current liabilities with its most liquid assets. Quick acid ratio is always less from current ratio because of inventory. A quick ratio of greater than one is generally recommended but as with current ratio it’s also depend upon nature of the company. However the remaining year’s ratios are obtained through this method. The table of five year ratio is given below: Year| 2005| 2006| 2007| 2008| 2009| quick acid Ratio| 0. 54| 0. 47| 0. 47| 0. 42| 0. 39| Trend analysis: Generally quick ratio of greater than one is recommended but as with current ratio it’s also depend upon nature of the company. It is clearly shows from the above data of gull armed company that the company quick ratio is very poor with respect to its past data. Quick acid test ratio is continuously declining since 2005. The company current ratio is good than quick acid ratio and this indicates a potential problem in the inventories account. Now what are the reasoning of this declining, the main reason of this poor ratio is continuously increasing in the inventory level of the company since 2005. The overall decrease in quick acid test ratio is -27%. Industry analysis: Year| Gull Ahmed| Industry ratio| 2005| 0. 54| 1. 38| 2006| 0. 47| 1. 55| 2007| 0. 47| 1. 84| 2008| 0. 42| 1. 45| 2009| 0. 39| 0. 93| From the above table and data industry ratio is better from the company ratio each year. However the industry ratio is also decreasing but with lower rate than company ratio because it is continuously decreasing since 2005 but the industry ratio first increasing after 2007 its start decreasing. The potential problem of company is given in trend analysis. ACTIVITY RATIOS: Activity ratio measure the speed with which various accounts are converted into cash, inflows or out flows. With regard to current accounts measure of liquidity are generally inadequate because differences in the compositions of a firm’s current assets and current liabilities can significantly affect its true liquidity. It’s therefore important to look beyond measure of overall liquidity and to assess the activity of specific current account. A number of ratios are available of measuring the activity of the most important current account. Inventory Turnover ratio: Inventory turnover commonly measure the activity of a firm inventory . It is calculated as follow: Inventory turnover = Cost of goods sold Inventory The Inventory turnover ratio of the Gull Ahmed Company of year 2009 is = 11568139000 4333234000 = 2. 66 times year| 2005| 2006| 2007| 2008| 2009| ratio| 1. 778| 2. 4| 3. 16| 2. 28| 2. 66| The company inventory turnover ratio of 2009 is 2. 66, which indicate the effectiveness of the company and tell us that the company inventories convert into cash or CGS 2. 6 times a year. . However the remaining year’s ratios are obtained through this method. The table of five year ratio is given below: The graph showing the inventory turnover ratios of the company is given below: Trend analysis: Generally larger the value of inventory turnover considered good. However from the above graph and table which shows the five year ratios of the company the company performance is good except the year 2007. Because higher the va lue the more the company is able to convert its inventory in sales or cash. The improvement in the inventory turnover ratio is due to increase in company sales because when sales increases at the same time CGS are also increases. Industry analysis: With comparison to industry the industry ratio is better from the company in two ways, first its each year ratio is greater than the company ratio and as we know that higher this ratio the better is. Secondly the industry ratio is increasing at increasing rate but the company ratio is first increase than decrease and then again increases mean there is fluctuation in the company ratio in five years. Year| Gull Ahmed| Industry ratio| 005| 1. 778| | 2006| 2. 4| 3. 30| 2007| 3. 16| 3. 34| 2008| 2. 28| 3. 33| 2009| 2. 66| 3. 67| Inventory Turnover in Days: Inventory turnover refer to in how many days on average before inventory is converted into account receivables. Inventory turnover can be easily converted into an average age of inventory by dividing it into 365 the assumed number of days in a year. It is calculated as follow: Inventory turnover in days = Days in year Inventory turnover ratio The inventory turnover ratio of 2009 of Gull Ahmed Company is calculated as follow: = 365 . 66 = 137 days It is clearly shows from the above figure that inventory of the company convert into account receivable or CGS into 137 days. The remaining five year ratio is given below: year| 2005| 2006| 2007| 2008| 2009| inventory turnover ratio in days| 205| 152| 115| 160| 137| The graph of the above table is given below: Trend analysis: Generally lower the days of the inventory turnover ratio the better. The company ratio is good as compare to its past year ratio of 2005 and 06 and 08 but not good from 2007. This value will be more meaning full to us when we will compare it to industry which we will do in the next section. Industry analysis: year| gull armed| industry| 2005| 205| 125. 00| 2006| 152| 110. 60| 2007| 115| 109. 28| 2008| 160| 109. 90| 2009| 137| 99. 45| Generally lower the days of the inventory turnover ratio the better. So from above data clearly shows that the company performance with respect to industry is low because the industry days is lower than the company days mean it takes less days to convert inventory into CGS or sale as compare to company. So overall the industry performance is good than company and the reason is given in trend analysis. Receivable Turnover Ratio: The receivable turnover ratio provides insight into the quality of the firm’s receivable and how successful the firm in its collections. So the RT is defined as the number of times account receivables have been turned into cash during the year. The higher the turnover the shorter the time period between typical sales and cash collection. The ratio is calculated by dividing receivables into annual net credit sales. Receivable turnover ratio = Annual Net Credit Sales Receivables The Receivable turnover ratio of 2009 of Gull Ahmed Company is calculated as follow: = 13906465000 142151000 = 97. 8 The ratio tells us the number of times account receivables have been turned into cash during the year. For Gull Armed company the receivable turnover 97. 8 times during the year 2009. The Receivable turnover ratio of 2009 of Gull Ahmed Company is calculated as follow: year| 2005| 2006| 2007| 2008| 2009| Receivable turnover ratio| 32| 47| 38. 8| 168| 97. 8| The graph of the above data is given below: Trend analysis: Generally higher the value of the receivable turnover ratio better will be the performance of the company and the higher the turnover the shorter the time period between typical sales and cash collection. From the above table of data and graph it is clearly shows that the company receivable turnover is increasing and very high at year 2008 after that it fall once again. There are many reasons of increasing or good performance but the main reason is high sales of the company which continuously increasing second reason is the amount of receivable which is almost same throughout the year showing the strict policy of the company in credit term. However the overall performance in term of receivable turn ratio is better. Receivable Turnover Ratio in Days: The average collection period or receivable turnover in days is useful in evaluating credit and collection policies. It is arrived at by dividing the days in year into receivable turnover ratio. It is calculated as follow: Receivable turnover ratio in days = Days in year Receivable turnover ratio The Receivable turnover ratio of 2009 of Gull Ahmed Company is calculated as follow: = 365 97. 8 = 3. 7 days This figure tells us the average numbers of the days for which receivable are outstanding before being collected. Since the company receivable turnover ratio is 97. 8, so the average collection period is 3. 7 days. For remaining years the method is same as calculated above they are given below: year| 2005| 2006| 2007| 2008| 2009| Receivables turnover ratio in days| 11. 4| 7. 7| 9. 4| 2. 16| 3. 7| Trend analysis: The higher the turnover the shorter the time period between typical sales and cash collection. From the above data of company Gull Ahmed we can say that the company receivable turnover in days is good in term of comparing it with its past data except year 2008 because it is better than 2009. However before conclusion one must check the credit term of offered by the company to its customers. If the average collection period of company is for example 5 days then years 5, 6 and 7 will be not considered good so it is also depend upon the credit term of the company which he offered to its customers. Account Payable Ratio: There may be occasions when a firm wants to study its own promptness of payment to suppliers or that of a potential credit customer. In such cases it may be desirable to obtain an aging of accounts payable. These methods of analysis combined with the less exact payable turnover ratio allow us to analyze payables in much the same manner as we analyze receivables. It is calculated as follow: Account payable turnover ratio = Annual credit purchase Account payable The Account payable turnover ratio of Gull Ahmed Company of five years is given below: year| 2005| 2006| 2007| 2008| 2009| payable turnover ratio| 3. 9| 4. 34| 4. 999| 5. 1| 5. 6| Above ratio shows the firm promptness of payments to suppliers throughout the five year. The ratio tells us the number of times account payable has been turned into cash payment during the years. The graph of the above data is given below: Trend Analysis: Generally higher the value of account payable turnover ratio better will be the performance of the company and the higher the turnover the shorter the time period between typical credit purchases and cash payment. From the above table of data and graph it is clearly shows that the company account payable turnover is increasing and very high at year 2009. In my opinion the main reasons of this improvement is high sales of the company. Payable Turnover in days: Also called average payment period â€Å"the average amount of time needed to pay accounts payable. The average payment period is calculated in the same manner as the average receivable or collection period. Payable turnover ratio in days = Days in year Payable turnover ratio The payable turnover ratio of 2009 of Gull Ahmed Company is calculated as follow: = 365 5. 6 = 66 days This figure tells us the average numbers of the days for which payables are outstanding before being paid. Since the company payable turnover ratio is 5. 6, so the average ayment period is 66 days. For remaining years the method is same as calculated above they are given below: year| 2005| 2006| 2007| 2008| 2009| payable turnover ratio in days| 93| 84| 74| 72| 66| The graph of the above data is given below: Trend analysis: The higher the turnover the shorter the time period between typical purchases and cash payment. From the above data of company Gull Ahmed we can say that the company payable turnover in days is good in term of comparing it with its past data during five years through 2009. However before co nclusion one must check the credit term of offered by the creditor to its company. If the average payment period of company is for example 66 days and n/30 is credit term then will be not considered good so it is also depend upon the credit term of the creditor which he offered to its customers. Prospective lenders and suppliers of trade credit are most interested in the average payment period because it provides insight into the firm’s bills paying pattern. Total Asset Turnover Ratio: Total asset turnover indicates the efficiency with which the firms use its assets to generate sales. Total asset turnover is calculated as follow: Total asset turnover = Sales Total assets The total assets turnover ratio of 2009 of Gull Ahmed Company is calculated as follow: = 13906465000 13583734000 = 1. 02 This mean the company turns over its assets 1. 02 times per year. The remaining year ratio is calculated through same method and shown in the table below: year| 2005| 2006| 2007| 2008| 2009|

Computer Security

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Personal Portfolio in Business Essay Example | Topics and Well Written Essays - 1750 words

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Review of literature on employee management

Review of literature on employee management Management is not only about managing resources and controlling expenses. Although these are basic functions of management, theres more to management than just managing resources and controlling expenses. Another extremely important function of management is the ability to manage employees especially since they are the lifeline of any business. Given the downturn in the economy, many businesses have not only been forced to lay off employees, but theyve also been forced to close their doors due to a lack in demand. However, there are also businesses that have capitalized on the downturn of the economy to reduce overhead and increase employee productivity even if the need does not exist. This can certainly be a temporary fix, but squeezing everything out of employees does not appear to be the solution for long term business success. 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Businesses can certainly hire employees that have great credentials and impressive resumes. However, managing employees and addressing management issues effectively is just as important as hiring employees with the proper experience and education in order to establish a good employee base that will be instrumental for future success. With the above in mind, this study will focus on several employee management issues such as the effects of (a) poor leadership, (b) not motivating employees effectively, and (c) not being able to manage conflict appropriately. Review of related literature Poor leadership Employees not only need guidance from their managers or leaders, but they also need to know that they will be there to help them when they need them or to help put things back on the right track. Leadership need not imply that a leader is, by nature, wise, and inspirational. Darker forces sometimes drive leaders as well as their followers. Bad leadership is as ubiquitous as it is insidious (Kellerman, 2007, Pg 17). Kellerman (2007) further points out that, like good leaders, bad leaders are characterized by traits such as intelligence, high energy, strong drive for power and achievement, decisiveness, and determination. Bad leaders have a skill set that ranges from being good at communicating to being good decision making. Kellerman (2007) also describes bad leaders as, incompetent, rigid, intemperate, callous, corrupt, insular, and evil (Kellerman, 2007, Pg. 17). McGowan (2010) also notes, Leadership cant lead if it cant see (McGowan, 2010, Pg. 3). Many leaders/managers are not successful due to their authoritative leadership styles, resulting in increased communication gap with their employees. Such leaders are unable to earn the respect and loyalty of their employees, who simply follow their orders because of their authority. Accordingly, there is a greater possibility of turnover and absenteeism by the valuable workforce (Ahmed, Shields, White,  Ã‚  Wilbert, 2010, Pg. 108). Fowlie Wood (2009) further illustrate from one of their studies that, bad leadership equates to a lack of self-management and relationship management competencies (Fowlie Wood, 2009, Pg. 568). Lack of communication and guidance from management simply exacerbates existing or potential problems. As a result, this could then leave the employees feeling like no one is listening and the relationship between employees and management starts deteriorating. Poor motivation Once the relationship between employees and management starts to deteriorate, this can then lead to motivational issues. Managers need to realize that every employee is different. Some employees prefer to work independently while others like the continued feedback and support from their leaders. As Lazenby (2008) notes, a one-size-fits-all apprach to employee motivation doesnt work. Challenges that motivate one person might actually discourage another. Some individuals seem to have a high need for praise and recognition, even when their work is mediocre; others dont seem to care about those things (Lazenby, 2008, Pg. 22). As Lazenby (2008) further points out, People are different, and we need to master the skills needed to motivate different people (Lazenby,2008, Pg. 23). While some employees might be motivated by monetary rewards, managers also need to be aware that motivation could also depend on the age of the employee. Although one might not think that age is a factor when it comes to motivating workers it actually is. Younger employees tend to be more motivated by monetary rewards and older employees are generally motivated by other factors. As Kauffman (1987) points out, aging, in itself, does not lead to mental impairment, such as memory loss or a breakdown in intellect. They [older workers] may no longer be striving for top pay; they may see the need for better balance between work life and home life; their children may be self-supporting and their monetary needs are no longer a driving force (Kauffman, 1987, Pg. 43). Not motivating employees can then lead to inter-departmental or departmenta l conflict especially if employees believe inequality exists. Not managing conflict appropriately Conflict in the workplace is not always a bad thing. However, conflict thats not managed properly can certainly lead to bigger problems. Occasional conflict, if managed appropriately, can lead to creativity, better decision-making, and improved results. However, too much conflict can lead to a decrease in performance and group cohesion (Sikes, Gulbro, Shonesy, 2010, Pg. 48). Assael (1969) further notes that, constructive conflict results in improved communications between organizations, allowing for legitimate differences of interests and beliefs to emerge (Assael, 1969, Pg. 578). Culture wars can occur when the beliefs and habits of one cultural group come to dominate the norms of the workplace, making it difficult for members of other groups to be included, understood, and to attain success (Turner, 2007, Pg. 244). If conflict is not managed properly the results can ultimately affect the companys bottom line. They can substantially impact the vital organizational objective of serving customers (Tjosvold, Dann, Wong, 1992, Pg. 1). It is generally agreed by the organization theorists that organizational conflict should be managed rather than resolved to enhance individual, group, and system wide effectiveness. The management of organizational conflict involves the diagnosis of and intervention in conflict at intrapersonal, interpersonal, intragroup, and intergroup levels (Rahim, Afzalur, Garrett, Buntzman, 1992, Pg. 423-424). Rahim, Afzalur, Garrett, Buntzman further point out that, the difference between resolution and management of conflict is more than semantic. Conflict resolution implies reduction or elimination of conflict, whereas the management of conflict does not necessarily imply reduction or elimination of conflict (Rahim, Afzalur, Garrett, Buntzman, 1992, Pgs. 423-424). Conflict is almost certain to occur in work teams due to the fact that they are comprised of different people possessing different perceptions, personalities, and behaviors. Although incredibly effective, work teams may stumble upon barriers which must be overcome to allow for growth and continuation towards the common goals of the group. Unfortunately conflict cant be managed by walking away. You have to tackle the issue and, the important takeaway is not necessarily knowing how to eliminate conflict all together, but to eliminate the problems before they begin or be prepared to deal with the conflict as it is presented (Sikes, Gulbro, Shonesy, 2010, Pg. 48). Conclusion Employee management issues can have adverse effects to any business and ultimately to their bottom line. Furthermore, unaddressed issues and/or poor leadership tend to have a rippling effect that can start with one employee and work its way through departments or even entire companys if not addressed accordingly. Not managing employees appropriately can also lead to reduced opportunities not only for the employee, but for the company. In summary, poor leadership can result in not providing proper direction and/or guidance to your employees to meet company goals, not motivating employees can result in a decrease in employee productivity, and not managing conflict can lead to low morale or even a belief of inequality among the workgroup if issues are not handled properly. As Ahmed, Shields, White, Wilbert (2010) point out, Managers must have a mind-set to think beyond their job titles and focus more on developing and inspiring employees to accomplish organizational goals. After all, The ultimate goal of an organization is to maximize shareholders value and profitability, which is accomplished by integrating strong leadership with formal and informal communication networks (Ahmed, Shields, White, Wilbert, 2010, Pg 119). Given the fact that the human factor is part of any business, employee management issues are a common occurrence in the lives of every manager or leader. 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Evaluation of Soap :: Papers

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