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PACC6000: Financial Accounting 1

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PURPOSE Financial Statement Analysis - To calculate and analyse financial ratios using actual reported data. REQUIRED Given the financial statements and the additional information, analyse and discuss the financial performance and position of Specialty Fashion Group Limited. You should refer to the notes to the financial statements and the Director’s Report for further details and clarifications of changes in the financial statements. (You may find the Full Year Results CEO & CFO Presentation useful for this assignment). Your analysis should be supported by profitability, li...

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PURPOSE Financial Statement Analysis - To calculate and analyse financial ratios using actual reported data. REQUIRED Given the financial statements and the additional information, analyse and discuss the financial performance and position of Specialty Fashion Group Limited. You should refer to the notes to the financial statements and the Director’s Report for further details and clarifications of changes in the financial statements. (You may find the Full Year Results CEO & CFO Presentation useful for this assignment). Your analysis should be supported by profitability, liquidity, gearing and other appropriate ratios from Chapter 18 of the prescribed textbook. Calculate and analyse financial ratios (percentage and ratio analysis) Use the 2017, 2016 and 2015 published annual reports to obtain the financial statement figures needed to calculate the ratios (where there are consolidated accounts, use the consolidated amounts). In addition, students are strongly advised to:  perform horizontal and vertical analyses of the Statements of Financial Position (Balance Sheets) and Statements of Profit or Loss (Income Statements) for the company  read all parts of the Annual Reports Instructions Your report should calculate* and analyse the following ratios, in clearly identified separate sections: Profitability Rate of return on net sales Rate of return on total assets Asset turnover Rate of return on ordinary shareholders’ equity Earnings per share (given in the Annual Report) Liquidity Working capital Current ratio and Acid-test ratio Inventory turnover and Days in inventory Gross profit percentage Accounts receivable turnover Days’ sales in receivables 4 Gearing Debt ratio Debt to equity ratio Times interest earned ratio (* Tabulate and show the formula and detailed calculations in an Appendix.) Your analysis should include: Year-to-year (2017 and 2016; 2016 and 2015) comparisons (horizontal analysis). Use the Director’s Report and the Notes to the Accounts to further justify your answer. The components of each ratio should be investigated to determine the significant or determining factors in any change to the ratio. These significant factors should then be investigated to determine (to the extent possible) the cause and sustainability of their change (refer to example below). Example of a current ratio analysis: Company X current ratio increased from 1.2 to 4.3. The company increased its ability to pay its debts in the short-term. The main reasons for the increase were a 22% increase in cash and a 14% decrease in trade payables. The increase in cash and the decrease in trade payables were both a result of reductions in purchases of inventory. This is unlikely to continue as the company was depleting a previous overstock. Each ratio analysis will be marked on the correctness of the comparisons and the identification of the determining factors. The depth and correctness of analysis of the factors will be the primary criteria for grade differentials in this assignment. The determining factors need not be confined to the annual reports, but they must be relevant to your analysis. Check the web link (www.specialtyfashiongroup.com.au) to the Annual Reports of Specialty Fashion Group Limited. A marking rubric is included in this assessment for your information. The marking rubric details what is required in the report under each section. Note that this assessment will be discussed further in class.

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Executive Summary:
This is an individual assignment task on financial accounting. The assignment requires to make financial statement analysis of Specialty Fashion Group Limited. The detailed assignment paper is consisted of horizontal analysis of the financial statements of the company in respect of three latest financial years, vertical financial analysis and analysis of various financial ratios. In order to complete this assignment paper; latest three years annual reports of the company required and director’s report also required to refer somewhere. The ratio analysis done considering various areas like profitability, gearing, liquidity and other required appropriate ratios. The financial years selected for analysis of the financial performance and financial position of Specialty Fashion Group Limited is 2015, 2016 and 2017.

Introduction:
This assignment paper is making focus on analysis of the financial statements of Specialty Fashion Group Limited. Specialty Fashion Group Limited is considered as one of the largest retailers of women’s fashion clothes and accessories in Australia. The reason of success of Specialty Fashion Group Limited is their best try to making women looking good and also feeling great with offering best style and value in the products. The main brands of the company include City Chic, Autograph, Katies, Crossroads, Millers, Rivers and ONE WOMAN. The company believes in business with ethical trade values and its compliances that creates a commitment for the company to supply its customers the highest quality products with best reasonable price and in quickest possible time. The organization also committed for ensuring best working conditions for their partner factories that helps it to develop long period of relationships with the partners and suppliers. The company also believes in the sharing of the technical expertise with the suppliers considering the same as future investments for the company. Provision of better working conditions to the people working with Specialty Fashion Group Limited; helps in creation of effective supply chain for the organization.
 

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