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Accounting report - Assignment Example

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Annual reports include information other than financial statements of the company mainly for the purpose that there are many areas which are not clearly portrait in financial statements. For example financial statements do not highlight the future plans of company therefore…
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Accounting report

Therefore, this additional information such as the macro environment effects, business performance in comparison to its competitors, etc. generally guide the investor in making the right choice.
The statements provided by Chairman and CEO are more or less same with both them talking about the performance of British Airways during the year in comparison with last year and the difficulties being faced due to economic downturn, loss of consumer confidence, increasing oil prices and other environmental factors. Furthermore, both the heads highlighted the fact that next year is going to be much tougher in terms of performance due to economic conditions prevailing, yet they are confident that the company will manage to survive and achieve their long term future goals of being a premium airline. However, the main difference among both the statements was the measures highlighted by CEO to survive currently and tackle the future business appropriately with a brief detail about their future development and ways to achieve those (British Airways 2009).
The report provided by CFO highlight some of the problems that company is facing and which will be important for investor like Paul. Firstly, the CFO talks about the decline revenue caused by a decrease in passenger traffic especially premium passenger leading to reduction on amount of flying. Furthermore, the report highlights the company’s susceptibility towards fluctuating oil prices and showing an increase in operating expenditure due to this. Moreover the company faced a net unrealized loss on fuel derivatives due to volatile prices. Lastly, company posted a negative EPS which will have an adverse impact on its investors as no dividend was announced (British Airways 2009).
The environment in which airline industry operates involves lot of risks and uncertainties which are out of their control and can have severe impacts on their business. Some of the risks involved in their industry are act of terrorism, any ... Read More
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