1. Business and Strategic Analysis, including • an analysis of the economy, the industry, and the company’s place in the industry; • the company’s competitive and corporate strategy; • the company’s and the industry’s growth potential; • and the implications of all of these for its future profitability. 2. Accounting Analysis, including • a discussion on the company’s accounting policies that are likely to affect the interpretation of its financial reports, • One way of doing this would be a comparison with a competitor 3. Financial Analysis, including the presentation and interpretation of relevant ratios for the company and the competitor (not from the list of companies below), • a time series analysis of these for both companies over the past three years, • and an analysis of the company’s overall financial position. Your analysis should include a drill-down analysis which assesses operating management, investment management, and financial leverage, and also includes a cash flow analysis. Note that this task is not intended as a mere exercise in ratio calculation. Your analysis should attempt to explain and interpret significant trends or changes that you uncover through your calculations. Analysis and interpretation of the ratios you have calculated should be presented in the body of your report. The actual ratios for each year, along with a definition of each ratio should be included in an appendix to the report (BAV-model file): the appendix will not count towards the word limit. 4. Prospective Analysis, including • forecasts for all financial statements for the company for one financial year (the next year for which the company has not published an annual report), • reasons for major items, • and valuation of the company (BAV model). Your statements should, where possible, incorporate the latest information about the company, its industry, and general economic conditions and should not be the result of naïve extrapolation of past trends.
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