Answer the these questions ( I will send you separately the annual report of Bt and Vodafone as the file is bigger and it cannot be
a) Calculation of profitability ratios:
Using the amounts shown in the annual reports of two companies, calculate three profitability ratios. Provide detailed formulas and
source of the numbers. Specify any assumptions that you use. Do not use ratios not covered in the class. Do not make any accounting
adjustments or normalizations for numbers3 (20%).
b) Analysis:Discuss and contrast the profitability(financial performance)of the two companies during 2015 and 2016 Follow these instructions : Use of
Appendices: Key figures, information and evidence that are important in drawing your conclusions must be included in the main body of the report. However, when it comes to immaterial information, which may or may not add additional value to your conclusions, you may consider providing them in the appendices (for example, it could be detailed calculations or other supplementary information that would not cause any problems even if it was neglected). Supplementary information provided in the appendices may not be paid attention. • Verifiable Calculations: All numbers (ratios) should be verifiable. Therefore, you must provide clear formulas that you rely on and specify the exact source of each number (e.g., for a denominator of this ratio, we use the figure of sales revenue in the income statement of Tesco Plc’s 2016 annual report). • Assumptions: Since you carry out analyses with the ‘real’ annual reports of companies, there must be many concepts and terminologies that you do not fully understand. It is fine. In this case, please specify your assumptions based on your understanding and proceed to draw your conclusions under the assumptions. •Information Sources: Annual reports in 2016 for two companies will be basically provided for the coursework. At your discretion, however, you may also utilize additional sources (e.g., academic findings and annual reports of other companies or years) besides the two annual reports, if necessary.
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