Courcework is for MBA’s course, discipline is Financial Reporting & Management Accounting

Work should demonstrate:

• understanding the nature of the financial accounting problem and proposed solution structures for assisting policy makers in their deliberations and choices
• ability to read and understand the components of financial statements, such as balance sheets, income statements, statement of changes in shareholders equities and cash-flow statements, evaluate their implications into businesses through efficient financial reporting and thus appreciate the use of published financial information for decision making,
• ability to analyse and evaluate company performance and financial position of company by use of financial tools such as financial ratio analysis,
• acquired basic awareness of impact of IAS and IFRS on financial statements and financial ratios,
• understanding the crucial role of management accounting in the decision making process of the modern organization
• the basic understanding of the mechanics of various managerial and cost accounting methods and techniques, like full and absorption costing, ABC, CVP analysis, etc, that will allow appropriate interpretation of performance and results, thereby facilitating efficient and effective decision-making,
• understanding of the crucial role of budgets and their practical application in the modern organizations.

Requirements:

Good English; Spelling; Diagrams; Formatting; Present all bibliographical/references in the appropriate form.

Description of the work:

Company is among the top companies in their area in Europe and worldwide in terms of footprint, turnover, profits, technological advance and innovative products and services despite the recession by reinvesting their profits and focus on long term growth. Company is always ‘on the way’ and constantly see possibilities to improve for the future through a healthy competitive environment.

However, business had to face and cope with a severe financial crisis quite recently. In their effort to steadily apply the strategy “value for money” to their customers and satisfy them with innovative applications in their sectors, they have not succeeded to offer the desired products/ services based on the customer’s expectations and satisfy them with innovative applications in their sector. Therefore, they have launched extensive crisis programs for a lower cost structure at their companies, where the main focus is to have a quick recovery the sooner the better. In particular, we are talking about crisis triggered by Galaxy Note 7 battery issues.

Sources taken from Annual Summaries that company releases every quarter, it is listed in Stock Markets and numerous web sites and Press Release Sources.

Requirements:

Please start up by consulting a number of related books and articles on financial reporting and managerial accounting/costing in your library and the electronic folder of your pack. List the desirable characteristics of financial reports as outlined in such books and articles. Examine the annual reports of SAMSUNG with all the financial statements included (from 2015 to 2017) towards the following points:

1. Examine these reports and then make the appropriate financial assessment on it to see how far in your view it appears to contain the desirable characteristics of financial reports as outlined in the textbooks. (You must show all workings, that is to analyze the financial performance and risk position of these companies as disclosed by its financial statements and explain ratios calculated for at least 3 financial years per company and make and comparison between the years before and after the crisis with the respective detailed analysis). (50% of the total mark)
2. Given the focus of SAMSUNG on the customer, the drive to reduce costs and “value for money” concept and quick recovery plans, technological innovations with huge investments regarding future and always “looking forward” and the emphasis on “customers and suppliers” working together to overcome the crisis, You are required to:

Discuss, using relevant academic literature to support your arguments, the potential for using strategic management accounting/costing concepts and techniques to help promote and facilitate SAMSUNG ambitions for the future with a comparison with similar company – APPLE. Prepare a written report on your findings and present them on your assignment and provide a practical example on a specific area regarding their accounting and financial implications. (50% of the total mark).

The objective of this assignment is to tackle the financial analysis of classical and very popular company as case studies which take place internationally and which will reveal apparently the business and financial strategy of different kind of both enterprises, especially them that are among the very large ones in Europe and in the world. This project will entail a detailed discussion and financial/accounting and managerial accounting application on the proposed alternative strategies on financial ratios and the data derived by the financial statements and will focus mainly on the view and the opinions of the management team regarding managerial accounting/costing policies before and after the crisis period.

You are required to write a reply in order to cover all the above mentioned detailed questions. Bearing in mind the academic content of the program of Financial Reporting & Management Accounting, examine the above issue based upon your organization’s financial and managerial accounting function experience (if any) and blend the theoretical aspects with the practical situation that SAMSUNG as big organization is currently facing.

You are encouraged to obtain information about SAMSUNG from the press and media releases that are really plentiful. Other sources should be reputable, per-reviewed editions.

You are reminded that anything you write will be treated in the outmost confidence.