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Essay / Research Paper Abstract
This 6 page paper considers the financial performance of the Walt Disney Company between 1994 – 2004 and identifies the general trends supported with a ratio analysis. The paper then considers the reasons why financial analysis alone is not sufficient when assessing the potential future of a company. The bibliography cites 6 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEdisacct.rtf
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Unformatted sample text from the term paper:
give very useful information, if we choose a fortune 500 company such as Walt Disney we can look at the value which is given by a financial analysis and identify
different trends, but also shows the limitations even when identifying trends. The Walt Disney company has seen some difficult times, the pattern over the last ten years has
been one of falling performance and then recovery but the recovery has nt yet returned the comp ay to the former performance levels of a decade ago. If we look
at the financial performance of Disney, using the annual accounts, 10 years ago the 1994 results gave a profit before tax of 16.9%. This was a good year, but was
improved on in 1995 with 17.5%. After this there have been changes and falls, 1996 saw a profit before tax of 11% and in 1997 this increases to 15.1%. The
worst year was 2001, the year of the terrorist attack on the World Trade Centre. This saw a drop in any industry associated with travel, as less people travelling, and
the results were only 5.1%. 2002 saw a recovery to 8.6% but this dropped again in 2003 down to 8.3% and in 2004 and increase to 12.2% Therefore, the company
is a long way from the results of a decade ago but is regaining dome of the lost ground. Part of this
decrease in profits is due to an increase in the cost of goods sold. In some instances these costs have doubled on the figures ten years ago. However, it is
not only these figures that may concern the shareholders, there are also ratios such as the return on equity and return on assets. The return on assets is a ratio
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