ANALYSIS OF MANAGEMENT AND PERFORMANCE IN FINANCIAL INSTITUTIONS (Cadbury Nigeria Plc and Nestle Food Nigeria PIc.)
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ANALYSIS OF
MANAGEMENT AND PERFORMANCE IN FINANCIAL INSTITUTIONS (Cadbury Nigeria Plc and
Nestle Food Nigeria PIc.)
ABSTRACT
This
Research Work in an attempt to the Analysis of Management and Performance in
Financial Institutions using Cadbury Nigeria Plc. and Nestle Food Nigeria Plc
as a case study. One area in which accountants in industry can make a valuable
contribution to improve financial performance is by instituting and
Interpreting business ratio analysis and applicable predictive model, this
interpretation of ratios and predictive model may often suggest strength and
weaknesses in the operations and financial position of the company, which may
lead to depth or further investigation.
The method
of data collected was by questionnaire on Ratio Analysis as a Predictive Tool
for Business Performance, while secondary data from official reports of the
organization was used for productivity and profitability. the questionnaire
were distributed to the various departments to ensure that each section
employee is given a chance of being sampled and the method of data analysis was
used coding and decoding of questionnaire received from performance of staff,
under different leadership and by the use of chi-square (X2) test.
This research
work is being conducted in anticipation that it will put an end to the problem
of management succession in organization, for better management function and
improvement in the organization's productivity.
The
evaluation of performance of business firm is an important aspect of financial
management since this will help all those who have interest in the firm to make
sound decision that would favour them. In the light of the above, it is highly
recommended that the ALTMAN Z score could still be used in predicting how a
firm would perform.
It is
recommended that when applying a model caution should be maintained so as to be
misguide, other underlying factors should' be considered before forming an
opinion on the business performance such management policy.
TABLE OF
CONTENTS
CHAPTER ONE:
INTRODUCTION
1.1 Historical Background of the Study
1.2 Statement of Problem
1.3 Purpose of Study
1.4 Research Questions
1.5 Research Hypotheses
1.6 Significance of the Study
1.7 Scope and Limitation of the Study
1.8 Definition of Terms
REFERENCES
CHAPTER TWO:
LITERATURE REVIEW
2.0 Introduction
2.1 Purpose and Consideration of Ratios and
Ratio Analysis
2.2 Bases in Financial Statement
2.3 Distributional Characteristics of
Financial Ratio
2.4 Parties Interested In Financial Report
2.5 Types of Financial Analysis
2.6 Types of Ratios
2.7 Efficiency Profitability Ratio
2.8 Financial Norms
2.9 Limitation of Financial Ratio Analysis
2.10 Historical Background of the Case Study
REFERENCES
CHAPTER
THREE: RESEARCH METHODOLOGY
3.0 Introduction
3.1 Research Design
3.2 Re-Statement of Research Questions
3.3 Re-Statement of Research Hypothesis
3.4 Data Collection Method
3.4 Reliability Test
3.5 Validity Test
REFERENCE
CHAPTER
FOUR:
PRESENTATION
AND ANALYSIS OF FINDINGS
4.0 Introduction
4.1 Data Presentation
4.2 Data Analysis Techniques
4.3 Analysis of Financial Ratios of Cadbury
Nigeria Plc for Study Years
4.4 Analysis of Financial Ratios of Nestle
Food Nigeria Plc for the Study Years
4.5 Testing Of Hypothesis
4.5a Testing Hypothesis I
4.5b Testing Hypothesis II
4.6 Analysis of Score Result
CHAPTER
FIVE:
SUMMARY,
CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings
5.2 Findings
5.3 Recommendation
5.4 Conclusion
BIBLIOGRAPHY
QUESTIONNAIRE
CHAPTER ONE
INTRODUCTION
1.1 HISTORICAL BACKGROUND OF THE STUDY
Any
successive management is constantly estimating the performance of her comparing
it with the company's historical figures, with its industry editors. And even
with successful business from other industries. To complete a thorough'
examination of company is effectiveness, however, one need to look at more than
just easily attainable numbers like sales, Profits and total assets. One must
be able to read between the lines of financial statements and make the
seemingly inconsequential numbers accessible and comprehensible. This massive
data overload could seem staggering. Likely, there are many well-tested ratios
out there that make the task a bit less daunting. Comparative analysis and
evaluation helps us to identify and quantify company's strengths and weakness,
evaluate its financial position, and understand the risks one may be taking.
As with any
other form of analysis, comparative evaluation techniques aren't definite and
their results shouldn't be viewed as gospel. Many of the balance-sheet factors
can play a role in the success or failure of a company. But, when in concert
with various other business evaluation processes comparative management and
performance are invaluable.
Mathematically,
the word ratio implies the relationship of one Item to another otherwise; it
can be defined as the relationships that exist between two or more variables
whether dependent or independent. The coefficient that is obtained by using one
variable to divide the other variables precisely tells us the positional
situation Analysis therefore, is the systematic productions from both internal
and external financial reports so as to summarize key relationships and results
in order to appraise financial performance. Analysis and the evaluation as a
practical means of monitoring and informing performance is greatly enhanced
when
(a) Analysis and evaluation are prepared
regularly arid on a consistent basis so that trends can be highlighted and the
charges investigated.
(b) The analysis prepared for an individual firm
can .be compared with other firm in the same industry. This process is greatly
facilitated when the firm has ready access to comparative ratios prepared in a
standardized manner.
(c) It prepared showing the inter-locking and
inter-dependent nature of factors, which contribute to financial success.
(Terry, 2003).
Analysis in
accounting is an important predictive tool of business performance and to be
able to apply the model to any business concern. Answers should be provided to
the following question which contribute the problems that the researcher
attempts to solve.
So as to
reduce to the barest minimum, the variability in investment risk become the
more certain and uncertain the growth and profitability of an organization are,
the less risky is an investment in such organization.
1.2 STATEMENT OF PROBLEM
This
research work examines the use of ratios as a predictive tool for management
and performance in order to measure the growth and profitability if the
company. But there is some dissatisfaction associated with the use of certain
techniques. These include:
(1) Analysis and evaluation of management used
in financial statement can be misleading to user such Information if not
carefully interpreted.
(2) Financial information Analysis normally uses
are adjusted for changes in the level of general prices, which can distort the
analysis and interpretation.
(3) It was historical (initial data) and the
question arises as to whether such data can provide for a relevant basis for
making predictions.
(4) The act of analysis IS firstly, in selection
of those ratios must appreciate under circumstance and subsequently in the
Interpretation of the position which they reveal.
1.3 PURPOSE OF STUDY
The major
purpose of this study is to analyses extensively the various financial
statement with regards to telling the direction of growth of an organization
when a negative growth is noticed, adequate strategies are then formulated to
put the organization on success path.
It is also
the objective of the researcher to help any reader of this study in the following
ways.
(a) The general and specific knowledge about
analysis of evaluation and the computation.
(b) That through a careful study and monitoring
of the analysis of an organization, one can predict the direction of growth and
thereafter take decision to suit individual situation.
(c) The research put the reader on the trial on
logical reasoning, which leads to curiosity to know more about the topic and as
much leading to further research which increase the total volume of human
knowledge.
1.4 RESEARCH QUESTIONS
To what extent is comparison of performance
between companies is difficult to accounting policies adopted
Does financial statement calculated from
accounting data subjected to different interpretation and manipulation adopted.
Does financial statements comply with all
statutory requirements and other regulations relevant to the constitution and
activities of the enterprise
Does adequate disclosure of all appropriate
matter and the information contains in the financial statement is properly
classified and presented.
1.5 RESEARCH HYPOTHESES
Ho: Comparison of performance between company’s
management is not difficult because of different accounting policies adopted
Hi: Comparison of performance between company’s
management is difficult because of different accounting policies adopted.
Ho: That financial evaluation calculated from
accounting data are not subjected to different interpretation and manipulation
Hi: That financial analysis calculated from
accounting data are subjected to different interpretation and manipulation.
1.6 SIGNIFICANCE OF THE STUDY
The aim of
the study is to arouse interest in the use of ratio analysis as an effective
instrument to measure business performance and to juxtapose the performance of
each case of studies because ratios are to measure the achievement and failure
of a business. It is also an effective instrument for prudent management of
financial resource and for the growth of the business.
This study
is also help in highlighting areas where organizations may have problem in area
of financial management and encourage such organizations to adopt the rise of
ratios to see its rises and efforts.
Finally it
will help students, researchers and the companies choose a case of study in
their course of study and go a long way in showing the financial problem to
shareholders, financial analyst, Governments, Potential investors, Employees
aid management as well.
1.7 SCOPE AND LIMITATION OF THE STUDY
This study
shall cover analysis of management and performance of financial institution
using Cadbury Nigeria Plc and Nestle Food Nigeria Plc as case Study.
Many things
shall be considered in the study and the desirability of the project is not in
doubt because of the inherent benefits, however, the accuracy of the work
cannot be hundred percent because of the following limitation which would in
one way or the other affect the
conclusions drawn upon which decision are based. So if the promise of a
decision is faulty, that decision may be misleading. These limitations
therefore are:
(a) Limited
Resource: Because of limited resources at the researcher's disposal (human and
financial) so far, in fact, it is a matter of convenience. The longer the sample
of a research the more the accurate the result.
(b) Limited
Time: Just like the resource put a limitation on the study so also the limited
time
(c) Cost
time and Cost: This research is going to cost the researcher in term of time,
energy and money.
(d)
Willingness to give out information: The information used in the study is
limited only to those required to be published to companies according to
relevant statute such as Company and Allied Matter Decree 1990 (CAMD '90). The
policies regarding disclosure of some information regarded as classified vary
from company to company. The researcher therefore crowns his conclusion from
data made available and this has constitute a limited on the accuracy of the
findings.
1.8 DEFINITION OF TERMS
CURRENT RATIO: Compares total current
assets to total current liabilities and it intended to indicate whether there
are sufficient short-term to meet the short-term liabilities
QUICK OR ACID TEST RATIO: The only
different between this and current ratio is that quick or Acid test ratio does
not include stock.
GEARING RATIO: This indicates the degree of
vulnerability, of earning available for ordinary shareholders.
STOCK TURNOVER: This ratio measures the
number of times stock is replaced during the period.
DIVIDEND YIELD: Measures the real rate
of return by comparing the dividend paid to the market price of a share.
EARNING PER SHARE (EPS): This indicates
how much of a company's profit can be attributed to each ordinary share in the
company.
DIVIDEND COVER: Compares the amount of
profit earned per ordinary share with the amount of dividend paid.
PRICE EARNING (PIE) RATIO: This
relates the earnings per share to the market price of the share it is a useful
indicator of how the stock market assesses the company.
NET PROFIT MARGIN: This measures
the efficiency with which the company controls its overheads.
RETURNS ON CAPITAL EMPLOYED: The
ration indicate the total profitability of the business (Ogijo, 2000).
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