Write a report to evaluate the profitability, efficiency, liquidity, and financial structure
of ASOS over the financial periods 2018 to 2021.You should use the accounting ratios
shown below and any other information relevant to ASOS PLC. Information can be
accessed from the annual report and accounts and any other source of evidence that
you believe helps to explain the company’s performance and position. (40Marks)
Question 1 (49 Marks)
Ovid Ventures run a small private company selling swimwear from China. The owner
of the Venture asked you to prepare set of financial statement for the year ended 31
December 2021 as soon as possible as the previous accountant left the company at
very short notice.
Audit and Accountancy 500
Long Term Bank Loan 2,200
Fixtures and Fittings:
At Cost 80,000
Accumulated depreciation (at 1.1.2021) 40,000
At Cost 25,000
Accumulated depreciation (at 1.1.2021) 1,350
Office expenses 700
Ordinary £1 shares (issued and fully paid) 20,000
Profit and loss account (at 1.1.2021) 13,200
Rent and rates 7,500
Sales – 280,000
Stock (at 1.1.2021) 14,000
Wages and salaries 21,000
Bank Interest 200
AC4052QA Financial Accounting – NOV21INTAKE Assignment Brief
- Stock at 31st December 2021 valued at cost amounted to £18000.
- Depreciation is to be provided on fixtures and fittings at 25% on cost
and 10% on reducing balance method for motor vehicle.
- The electricity consumed but not paid for the period is £250.
- Insurance paid in advance at 31st December 2021 amounted to £400.
Prepare Income statement for the year ended 31st December 2021.
Prepare Balance Sheet as at 31st December 2021. (23 Marks)
Question 2 (11Marks)
- Briefly explain to Mr Ovid the owner of Ovid Ventures the impact of the
following adjustments on Profit & Loss Account and Balance sheet:
a. Prepaid Expenses
b. Accrued Expenses
c. Prepaid Income
d. Accrued Income
- Briefly explain to the Mr Ovid the owner of Ovid Ventures why the following
items will be added back or deducted from the cash flow statement using the
b. Disposal of non-current asset
c. An increase in inventories
uty Head, Office and Site Managers report to the Associate Head who reports to the Executive Head. The Office and Site Mangers carry out most of procurement, financial and facilities management tasks. The Associate and Deputy Head manage HR and Marketing whilst overseeing the school budget. There is a strong need for a SBM in our school so he/she can manage the additional responsibilities the heads and deputy have undertaken, to ensure their time is dedicated to high standard of teaching and learning, not dealing with certain staff issues or the day-to-day budget, this will also enable more productivity from all resources through better management, a SBM would play an important strategic role in implementing best value by making the most of school resources in the most sustainable and environmentally friendly manner, so more is available for the school’s core activities. 1.4 Own Professional role and relationship with staff and SLT: My school works very closely with both stakeholders internal and external, acknowledges and actively monitors the concerns raised and takes their interests appropriately into account in decision-making however, from a business point of view I believe our external stakeholder group are more influential as some like the governors determine the schools budget, staffing structure and when required appoint Headteachers. LA monitors the performance of maintained schools in its area and ensures all improvement necessary, is carried out effectively and expeditiously. My role consists of daily involvement with our internal stakeholders, I believe stakeholder engagement is vital to the success and improvement in a school, I issue weekly newsletters to parents with school activity updates, arrange weekly staff meetings and assemblies for pupils, this is to ensure internal stakeholders are kept informed and the school is securing the community’s obdurate support. “Community-engagement strategies are also widely considered central to successful school improvement by many individuals and organizations that work with public schools” (Great School Partnership, 2014:1) As an admin officer reporting to the office manager, my role consists of: undertaking all office administration including weekly HR returns. As a recent member of the admin team I have developed exceptional working relationships with my colleagues and leadership team. My work experience and corporate background allows me to conduct myself in a professional manner and create a cohesive working environment. As an aspiring SBM and referring to the NASBM framework, I believe I obtain the required skillset to become a SBM. In my previous role as HR Supervisor I developed my personal skills to provide direction and facilitated change in the work place, I supervised staff and monitored their progress. I have acquired transferable skills in relation to process, systems and procedures. I currently fall in tier 1 on the NASBM Professional Standards disciplines, but believe with my previous experience can also fall in tier 2 in the HR and Marketing area, I am certain by completing this course I will develop my skills further in areas such as Finance and Infrastructure. Part 2 – Establishing your professional needs 2.1: Review own personal skills and characteristics as a learner My dominating style of learning is reflective; Learning style diagnostic supported this, reflective practice has increased my self-awareness, which is a key component of emotional intelligence, it also help>GET ANSWER