英国财会essay赏析：会计，财务和前瞻性战略分析介绍

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07-22, 2013

英国财会essay赏析：会计，财务和前瞻性战略分析

Accounting, Financial and Prospective Strategy Analysis

ACCOUNTING ANALYSIS 会计分析

The purpose of this accounting analysis is to examine the policies that Tassal have chosen that are significant as to how it captures the underlying business reality. Several accounting policies have been identified that are key to Tassal due to the nature of its product and the industry it competes in.

Biological Assets 生物资产

As Tassal undertakes an agricultural activity, it is allowed to adopt AASB 141 Agriculture, which permits it to value its biological assets at the end of each reporting period at its fair value less its cost to sell, allowing it to record these increments into its revenue. Due to the nature of the salmon and the delay for the company to recognise the benefits of the fish when it is sold, this standard allows Tassal to rec http://www.ukthesis.org/Thesis_Writing/Finance/ ognise the value of the salmon in its ‘live’ state and at a fair value. The standard also allows a choice if no market determined prices are available. This option is to value the biological asset at the present value of expected cash flows.

Borrowing Costs 借贷成本

Changes to the treatment of borrowing costs from the reporting period of 2009 outlined in AASB 123 Borrowing Costs has eliminated the option of expensing Tassal’s borrowing costs in relation to its biological assets and now requires it to capitalise these costs into the asset themselves. These changes in its recognition have resulted in a decrease in its finance costs by $982,000 for the year of 2009, with movements of these costs into the value of its biological asset and its cost of sales. In treating this for prior periods, Tassal’s earlier reports to not provide a breakdown as to borrowing costs that could be capitalised.

FINANCIAL ANALYSIS 财务分析

Ratio Analysis 比率分析

In order to provide a concise forecasting and valuation analysis, considerable examination of Tassal’s historic performance has been undertaken. This has involved the analysis of both operating and financial performance against its previous years.

References 参考文献

Australian Bureau of Agricultural and Resource Economics 2009, Australian Fisheries Statistics 2008, ABARE, Canberra

Industry Commission 1996, Australian Atlantic Salmon: Effects of Importation Competition, Industry Commission, Canberra

Perez, C. 2010 Salmon Harvests decreased 59% as of May. (Fish Farming Xpert), viewed 25 October 2010, <http://www.fishfarmingxpert.com/index.php?page_id=76&article_id=88692>#p#分页标题#e#