Accounting Assignment | Essay Help

WILLIAM HILL PLCN22 7TP LONDON, United KingdomBvD ID numberGB04212563Publicly quoted companyLatest account date01/01/2019This company is the Global Ultimate Owner of the Corporate GroupGlobal standard formatAnnual report/Consolidated01/01/201926/12/201727/12/2016th GBPth GBPth GBPUnqualUnqualIFRSIFRS12 months12 months Assets Fixed assets937,8001,968,6002,151,000ARAR Balance sheet Other fixed assets101,900200,800133,200 Intangible fixed assets686,1001,577,3001,805,300 Tangible fixed assets149,800190,500212,500 Debtors7,80017,90020,400 Other current assets566,100375,500271,300 Current assets573,900393,400291,700 Stock000 TOTAL ASSETS1,511,7002,362,0002,442,700 Cash & cash equivalent510,500317,000215,500 Capital88,70088,70088,700 Other shareholders funds210,200974,0001,136,800 Liabilities & Equity Shareholders funds298,9001,062,7001,225,500 Long term debt719,700720,500718,600 Other non-current liabilities63,800100,90088,500 Non-current liabilities783,500821,400807,100 Current liabilities429,300477,900410,100 Loans000 Provisionsn.a.n.a.n.a. TOTAL SHAREH. FUNDS & LIAB.1,511,7002,362,0002,442,700 Creditors113,100125,400129,600 Other current liabilities316,200352,500280,500 Working capitaln.a.n.a.-109,200 Net current assets144,600-84,500-118,400 Memo lines Enterprise value1,570,6893,166,4982,992,082
The Assessment Task
The case study consists of two sections- Section A consists of 55 marks and Section B consist of 30 marks. A total of 15 Marks will be awarded for presentation, detailed citation, referencing and good use of English in the assignment. Students are expected to read the case study thoroughly and to answer all the questions in a structured and organised manner with reference to published work. This is an individual assignment and it is worth 60% of the total module mark.
SECTION A
Question 1
Scenario:
You hold the position of manager in your company. As a manager you have sound industry knowledge and commercial awareness. As part of your career development you have requested to be involved in a financial project to expand your managerial skills. You have volunteered to analyse the financial performance of the three companies identified in this case study over a period of 3 financial years (basic financial data is included with this case study in an Excel file). The companies have listings on the London Stock Exchange. You are required to undertake independent research to review current annual company reports, market reports and academic literature to support your findings in your report.
Background:
“The gambling industry is growing in the United Kingdom (UK). The gross gambling yield (GGY) in Great Britain increased from roughly 8.4 billion British pounds in 2011 to approximately 14.4 billion British pounds in 2018. Since legislation for remote gambling changed in 2014, the considered GGY for remote gambling accounts for the largest share of the market. The gambling industry provides jobs for some 100 thousand employees in the UK in 2018, of which the majority works in the betting sector, followed by casino and bingo, however, over half of gambling enterprises were run by less than 10 people.” (Lange, 2019).
The sector is highly competitive, and to ensure the financial sustainability of the company it is vital for management to review actual performance to goals and success indictors set in the strategic plan.
Lange, D. (2019) Gambling industry in the United Kingdom (UK) – Statistics & Facts. Statista [online]. Available from: https://www.statista.com/topics/3400/gambling-industry-in-the-united-kingdom-uk/ [ Accessed 6 August 2019].
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You are required to:
1a. Using the company websites, specifically the Investor’s area, and the annual “Chief Executive’s Strategic Review” identify the Strategic Plans for each company including the main financial goals and measurable success indicators in relation to financial growth, financial sustainability and financial performance. Having identified the key goals, explain the nature of the decisions ie long term or short term, and justify how these decisions will achieve the financial goals eg new investments, new products / services, increasing market share, restructuring etc. Clearly demonstrate how these decisions have impacted on the financial performance of the companies (use of evidence from ratio analysis will be required to support content). (15 marks)
1b. Critically evaluate the performance of the three companies using the latest three years financial and non-financial data to reach a conclusion to clearly identify the ranking of performance ie 1st, 2nd and 3rd. To reach a conclusion on the performance of the companies you are required to select and analyse 10 appropriate financial ratios, ensuring the you cover all the categories of ratio, and 2 non-financial ratios to look in depth at each ratio result / finding, use supporting arguments and evidence for and against as well as how these findings interrelate to one another. Demonstrate your understanding of the findings by interpreting the performance and financial position of the three companies by commenting on any significant patterns and causal relationships. Use of charts and tables is expected in your supporting argument. It is essential to establish the key facts and important issues surrounding the industry, selected companies and literature, you are therefore required to look at the audited financial statements and carry out further research to explain the performance of the companies over the three years. (30 Marks)
1c. Using information and results from tasks 1 and 2 above, put forward a short case justifying the reasons why the best performing company (using the ranking result from task 2) would/ would not be a positive investment opportunity. In order to present a balanced argument, consider opinions which may run contrary to your own before stating your conclusion. (10 marks)
You are expected to research for more information on the companies and cite the material correctly. You can use the Orbis database to access analysts’ and SWOT reports.
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SECTION B
Question 2
Most companies invest a significant amount of time and resources into trying to reach decisions on how to finance a business to achieving the optimum finance mix. Finance decisions coupled with strategic planning, marketing and organisational design can be a critical aspect of the future success or failure of a business. Critically evaluate the internal and external short term sources of finance available to one of the three companies in the case study in relation to working capital, cashflow and risk.
Required
You are required to prepare a memo on the topic of ‘Financing a Business’, addressing the following areas:
2a. Using evidence from a range of sources, critically evaluate the main types of internal and external short term finance available to listed companies, use numerical examples to help illustrate key aspects eg cost, risk, impact on cashflow and working capital. Reach a final conclusion, basing your decision on what you judge to be the most important factors and justify how you have made your choice. (20 Marks).
2b. Select one source of short term finance used by one of the company’s in the case study, to explore how it affects the interests of existing stakeholders. Consider a variety of stakeholders’ viewpoints. Where possible reconcile opposing views by presenting a final line of argument. (10 Marks). .
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ADDITIONAL GUIDANCE
1. All calculations must be detailed and presented clearly.
2. Use of published work (citing references) within text is expected.
3. A full list of references should be presented at the end of the case study.
4. Please avoid the use of ‘I, We, Us’ in your case study. You are expected to write in third person.
5. Include the assignment front sheet which is attached to the assignment brief.
6. Your answer should not repeat the question as it will be included in your word count.
7. Formatting:
a. Font Type: Arial.
b. Font size 11/12.
c. Line spacing 1.5 to 2.
d. All pages must be numbered
e. All graphs, charts and tables should have a number and a title.
f. All text must be aligned to the left.
Learning Outcomes
The learning outcomes that are being assessed in this assignment are: Module Learning Outcomes On successful completion of the module with limited guidance, students will be able to:
Subject-Specific Knowledge, Understanding & Application
a) Understand and interpret the fundamental concepts and principles which underpin internal operational decisions within business.
c) Analyse, interpret and critically review more complex financial accounting information drawn from the current reporting environment.
d) Appraise critically various principles of long term capital decisions, cost of capital, the time value of money, shareholder value and risk management. Employability & Changemaker Skills e) Communicate written and numerical information in an appropriate and effective manner. f) Review academic theory in a critical and reflective manner suitable for an academic audience.
Your grade will depend on the extent to which you meet these learning outcomes in the way relevant for this assessment. Please see the grading rubric at the end of this assessment brief for further details of the criteria against which you will be assessed.
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Word Limits
The maximum word limit for this assessment is 2,400 words. Section A maximum word limit 1,500 words. Section B maximum word limit 900 words.
In accordance with the Assessment and Feedback Policy, as stated in section 4.40 where a submission exceeds the stipulated word limit by more than 10%, the submission will only be marked up to and including the additional 10%. Anything over this will not be included in the final grade for the assessment item. Abstracts, bibliographies, reference lists, appendices and footnotes are excluded from any word limit requirements.
In line with section 4.41 of the same Policy, where a submission is notably under the word limit, the full submission will be marked on the extent to which the learning objectives have been met.
Assessment Support
Please refer to ACC3015STD NILE site, Term 2 weeks 21-25 for details of specific assignment support sessions and activities (subject to change). It is important that you attend all these sessions and access the Student Success Mentors for support, as a range of activities have been scheduled to support research techniques and referencing skills along with the opportunity to obtain formative feedback. All students studying at UoN campuses in Northampton will also receive an additional 6 hours of embedded academic skills development at each level of the programme of study. The skills sessions for BA Business and Management Top-up are included in the compulsory modules BUS3005 and BUS4002.
Generic Grading Criteria
You will find the generic grading criteria for achievement at University Grading Criteria. Also explained here are the meanings of the various G grades at the bottom of the grading scale.
Assessment Submission
To submit your work, please go to the ‘Submit your work’ area on the NILE site and use the relevant submission point to upload your report. The deadline for this is 11.59pm (UK local time) on the date of submission.
Written work submitted to TURNITIN will be subject to anti-plagiarism detection software. Turnitin checks student work for possible textual matches against internet available resources and its own proprietary database.
When you upload your work correctly to TURNITIN you will receive a receipt which is your record and proof of submission.
If your assessment is not submitted to TURNITIN rather than a receipt you will see a green banner at the top of the screen that denotes successful submission.
N.B Work emailed directly to your tutor will not be marked. The only exception to this is when you are instructed to do so because TURNITIN is down.
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Late submission of work
For first sits, if an item of assessment is submitted late and an extension has not been granted, the following will apply:
• Within one week of the original deadline – work will be marked and returned with full feedback, and awarded a maximum bare pass grade.
• More than one week from original deadline – maximum grade achievable LG (L indicating late).
Extensions
The University of Northampton’s general policy with regard to extensions is to be supportive of students who have genuine difficulties, but not against pressures of work that could have reasonably been anticipated.
For full details please refer to the Extensions Policy. The module leader can, where appropriate, authorise a short extension of up to two weeks from the original submission date for first sits only.
Mitigating Circumstances
For guidance on Mitigating circumstances please go to Mitigating Circumstances where you will find detailed guidance on the policy as well as guidance and the form for making an application.
Please note, however, that an application to defer an assessment on the grounds of mitigating circumstances should normally be made in advance of the submission deadline or examination date.
Plagiarism and Academic Integrity
Unless this is a group assessment, the work you produce must be your own with work taken from any other source properly referenced and attributed. The University of Northampton policy will apply in all cases of copying, plagiarism or any other methods by which students have obtained (or attempted to obtain) an unfair advantage.
If you are in any doubt about what constitutes plagiarism or any other infringement of academic integrity, please read the University’s Academic Integrity and Misconduct Policy. For help with understanding academic integrity go to UNPAC and follow the Top Tips for Good Academic Practice on the student hub.
Please note that the penalties for copying work from another source without proper referencing are severe and can include failing the assessment, failing the module and expulsion from the university.
Feedback and Grades
These can be accessed through clicking on the Feedback and Grades tab on NILE. Feedback will be provided by a rubric with summary comments
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Criteria
Grade / %
No submission / no evidence
Fail
Pass
Commended
Merit
Distinction
Work submitted is of no academic value / nothing submitted
Evidence included or provided but missing in some very important aspects.
Of satisfactory quality, demonstrating evidence of achieving the requirements of the learning outcomes
Of sound quality, demonstrative which is sufficient and appropriate to the task or activity
Of high quality, demonstrating evidence which is rigorous and convincing, appropriate to the task or activity
Of very high quality, demonstrating evidence which is strong, robust and consistent, appropriate to the task or activity
Learning Outcome a)
Understand and interpret the fundamental concepts and principles which underpin internal operational decisions within business. 15%
0 to 0 points
Work submitted is of no academic value/ nothing submitted
1 to 4 points
Evidence of some description of the of the key fundamental concepts and principles which underpin internal operational decisions within a business ie how do you know whether the business has achieved the financial goals and the measurable success set out in the strategic plan in all its operations? eg solvency, maximising return, funding mix, growth and financial sustainability of operations, stakeholders. Interpretations put forward lacking clarity very limited support by evidence from industry (annual reports, market reports) and literature.
Demonstrates poor understanding.
5 to 6 points
Evidence of some explanation of the of the key fundamental concepts and principles which underpin internal operational decisions within a business ie how do you know whether the business has achieved the financial goals and the measurable success set out in the strategic plan in all its operations? eg solvency, maximising return, funding mix, benchmarking, growth and financial sustainability, stakeholders. Interpretations put forward are generally supported by evidence from industry (annual reports, market reports) and literature. Demonstrates a fair understanding.
7 to 8 points
Evidence of some interpretation of the of the key fundamental concepts and principles which underpin internal operational decisions within a business with some comparison between companies and industry ie how do you know whether the business has achieved the financial goals and the measurable success set out in the strategic plan in all its operations? eg solvency, maximising return, funding mix, benchmarking, growth and financial sustainability, stakeholders. Interpretations put forward are mostly relevant and supported by evidence from industry (annual reports, market reports) and literature.
Demonstrates a good understanding.
.
9 to 10 points
Evidence of clear interpretation of the of the key fundamental concepts and principles which underpin internal operational decisions within a business with comparison between companies and industry ie how do you know whether the business has achieved the financial goals and the measurable success set out in the strategic plan in all its operations? eg solvency, maximising return, funding mix, growth and financial sustainability, stakeholders. Interpretations put forward are relevant and supported by evidence from industry (annual reports, market reports) and literature.
Demonstrates a clear understanding
11 to 15 points
Evidence of clear interpretation directly related to the key fundamental concepts and principles which underpin internal operational decisions within a business with relevant comparisons between companies and industry ie how do you know whether the business has achieved the financial goals and the measurable success set out in the strategic plan in all its operations? eg solvency, maximising return, funding mix, growth and financial sustainability, stakeholders. Interpretations put forward are directly relevant and supported by evidence from industry (annual reports, market reports) and literature.
Demonstrates a excellent understanding
Learning Outcome c)
Analyse, interpret and critically review more complex financial accounting information drawn from the current reporting environment. 40%
0 to 0 points
Work submitted is of no academic value/ nothing submitted
1 to 12 points
Incomplete selection of ratios lacking coverage of all categories of ratio. Choice of financial and non financial ratios demonstrates lack of understanding. Presentation of financial and non financial ratios for the past three years are incomplete or missing. There is some discussion but little or no meaningful analysis of trends and changes in performance based on ratio analysis results. There is some discussion but little or no meaningful interpretation of trends and changes in performance based on ratio analysis results.
There is some discussion but little or no meaningful critical review of trends and changes
13 to 16 points
Complete and mostly relevant selection of ratios, coverage of all categories of ratio with some support by literature. Choice of financial and non financial ratios demonstrates fair understanding. Presentation of all financial and all non financial ratios for the past three years are mostly complete, including ranking. There is some explanation, lacking meaningful analysis of trends and changes in
performance based on ratio analysis results. There is some explanation, lacking meaningful interpretation of trends and changes in performance based on ratio analysis results. Little or no implications of any changes in performance
17 to 22 points
Complete and relevant selection of ratios, coverage of all categories of ratio supported by literature. Choice of financial and non financial ratios demonstrates good understanding. Presentation of all financial and all non financial ratios for the past three years are complete, including ranking. There is some analysis of trends and changes in
performance based on ratio analysis results. There is some interpretation of trends and changes in performance based on ratio analysis results. Some implications of any changes in performance compared between companies and industry benchmark. There is some critical review of trends and
23 to 27 points
Complete and relevant selection of ratios, coverage of all categories of ratio supported by literature. Choice of financial and non financial ratios demonstrates good understanding. Presentation of all financial and all non financial ratios for the past three years are complete, including ranking. Analysis of trends and changes in performance based on ratio analysis results. Interpretation of trends and changes in performance based on ratio analysis results and with some use of industry benchmark. Implications of any changes in performance compared between companies and industry benchmark.
28 to 40 points
Well considered and relevant selection of ratios within the context of the companies and industry, coverage of all categories of ratio supported by literature. Choice of financial and non financial ratios demonstrates strong understanding. Presentation of all financial and all non financial ratios for the past three years are complete, including ranking. Clear and relevant analysis of trends and changes in performance based on ratio
analysis results and industry benchmark. Clear and relevant interpretation of trends and changes in performance based on ratio analysis results and industry benchmark. Implications of any changes in performance
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in performance based on ratio analysis results. There is some discussion on the best performing company with limited content on the investment opportunity. Very limited support by evidence from industry (annual reports, market reports) and literature.
Demonstrates poor understanding
compared between companies. There is some review, lacking meaningful critical review of trends and changes in performance based on ratio analysis results. Little or no implications of any changes in performance compared between companies. There is some discussion on the best performing company with limited explanation on the investment opportunity. Some evidence of research from industry (annual reports, market reports) and literature. Demonstrates fair understanding
changes in performance based on ratio analysis results. Some implications of any changes in performance compared between companies and industry benchmark. Best performing company identified with some justification supporting the investment opportunity.
Evidence of research from industry (annual reports, market reports) and literature to support and justify some content. Demonstrates good understanding
Critical review of trends and changes in performance based on ratio analysis results with some use of industry benchmark.
Implications of any changes in performance compared between companies and industry benchmark. Best performing company identified with clear justification supporting the investment opportunity. Clear evidence of research from industry (annual
reports, market reports) and literature to support and justify most content. Demonstrates clear understanding
compared between companies and industry benchmark. Critical review of trends and changes in performance based on ratio analysis results and industry benchmark.
Implications of any changes in performance compared between companies and industry benchmark. Best
performing company identified with sound justification and clear linkage to ratio analysis supporting the investment opportunity. Sound evidence of research of the current environment (annual reports, market reports) and literature to support and justify content. Demonstrates excellent understanding
Learning Outcome d)
Appraise critically various principles of long term capital decisions, cost of capital, the time value of money, shareholder value and risk management. 30%
0 to 0 points
Work submitted is of no academic value/ nothing submitted
1 to 9 points
Little, or no, meaningful explanation of the main sources of internal and external short term finance available to listed companies, lacking use of case study examples or numeric examples to illustrate key aspects. Some discussion on how one clearly identified source of short term finance affects the interests of existing stakeholders, lacking coverage of investor interests.
Demonstrates minimal knowledge of the assessment expectations. Demonstrates poor understanding.
10 to12 points
Some meaningful explanation of some of the main sources of internal and external short term finance available to listed companies, some use of case study examples and numeric examples to illustrate key aspects. Some explanation as to how one clearly identified source of short term finance affects the interests of existing stakeholders, including some coverage of investor interests. Limited support from industry and literature.
Demonstrates some understanding.
13 to 16 points
Some meaningful appraisal of most of the main sources of internal and external short term finance available to listed companies, good use of case study examples and numeric examples to illustrate key aspects. Some appraisal of how one clearly identified source of short term finance affects the interests of existing stakeholders, including some coverage of investor interests. Some support from industry and literature.
Demonstrates good understanding.
17 to 20 points
Some meaningful critical appraisal of all the main sources of internal and external short term finance available to listed companies, good use of case study examples and numeric examples to illustrate key aspects. Some critical appraisal of how one clearly identified source of short term finance affects the interests of existing stakeholders, including some coverage of investor interests.
Supported by evidence from industry and literature. Demonstrates very good understanding
21 to 30 points
Well considered and relevant critical appraisal of all the main sources of internal and external short term finance available to listed companies, good use of case study examples and numeric examples to illustrate key aspects. Critical appraisal of how one clearly identified source of short term finance affects the interests of existing stakeholders, including some coverage of investor interests.
Clearly supported by strong evidence from industry and literature. Demonstrates excellent understanding
Learning Outcome e)
Communicate written and numerical information in an appropriate and effective manner. 5%
0 to 0 points
Work submitted is of no academic value/ nothing submitted
1 to 1 points
Presentation is of a poor standard, some, or all, of the following were omitted; front page, contents page, list of figures, use of headings, appendix, reference page etc. Some tables and charts have been used which are either incomplete or not relevant to aiding understanding to audience.
2 to 2 points
Presentation is of a reasonable standard, most of the following were included; front page, contents page, list of figures, use of headings, appendix, reference page etc. Tables and charts have been used to display key aspects of the information and demonstrates a fair understanding of the audience and assessment requirements
3 to 3 points
Presentation is of a good standard, all of the following were included; front page, contents page, list of figures, use of headings, appendix, reference page etc. Tables and charts have been used to display key aspects of the information and demonstrates a good understanding of the audience and assessment requirements
4 to 4 points
Presentation is of a very good standard, all of the following were included; front page, contents page, list of figures, use of headings, appendix, reference page etc. Good selection of good quality tables and charts have been used clearly to display key aspects of the information and demonstrates a very good understanding of the audience and assessment requirements
5 to 5 points
Presentation is of an excellent standard, all of the following were included; front page, contents page, list of figures, use of headings, appendix, reference page etc. Excellent selection of good quality tables and charts have been used clearly to display key aspects of the information and demonstrates a very good understanding of the audience and assessment requirements
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Learning Outcome f)
Review academic theory in a critical and reflective manner suitable for an academic audience. 10%
0 to 0 points
Work submitted is of no academic value/ nothing submitted
1 to 3 points
Little or no academic or industry sources have been used or applied correctly. Little or no evidence of research. Poor command of academic / professional conventions appropriate to the discipline Standard of English is poor.
4 to 4 points
Few academic or industry sources have been used or applied correctly. Some use of case studies to support the discussion. Satisfactory command of academic / professional conventions appropriate to the discipline Standard of English is fair.
5 to 5 points
Some academic or industry sources have been used or applied correctly. Some use of case studies to support the discussion. Sound command of academic / professional conventions sufficient and appropriate to the discipline Standard of English is good.
6 to 6 points
A range of academic and industry sources have been applied correctly. Highly effective use of case studies to support the discussion. Rigorous command of academic / professional conventions appropriate to the discipline. Standard of English is very good.
7 to 10 points
A wide range of academic and industry sources have been applied correctly. Highly effective use of case studies to support the discussion. Authoritative
command of academic / professional conventions appropriate to the discipline Standard of English is high.
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