For completing this assignment successfully, you must read carefully the assignment brief to ensure that you address all of the requirements of the assignment. A strong assignment submission must include the following:  Relevance  Good Portion of Knowledge  Consistent Analysis  Argument Structure  Critical Evaluation  Good Presentation  Reference to Literature In order to complete this activity you need to consider the following: (1) Utilise academic research using literature from journals, books, Google Scholar, etc. – Do not use unreliable sources such as Wikipedia, Investopedia, blogs or other non-professional or non-refereed articles. At this level of study it is expected that you use a wide-range of sources to support your discussion and analysis. (2) Undertake a critical evaluation making effective use of evidence and sources (3) Present findings in an appropriate format (ensure that Harvard referencing is used) AF4S31 Assessment 1 (V2) Brief This assignment will be marked out of 100% This assignment contributes to 50% of the total module marks. The assessments are bonded which means you need 40%+ over both assessments combined to pass the module. Learning Outcomes to be assessed As specified in the validated module descriptor available at: https://icis.southwales.ac.uk/studentmodules/10122/studentmodulespecifications Learning outcome 1 The ability of students to critically assess, apply and evaluate the issues and techniques of strategic financial management. Grading Criteria Please see School’s marking criteria for undergraduate/post graduate assessments on the module VLE. Any additional grading/marking guidance will be posted with assessment task below. Assignment You have recently attended a workshop aimed at improving your understanding of company Annual Reports using Tesco’s report as an example. During the workshop you looked at the following sections of Tesco’s annual report: · The Strategic Report including the Environmental and Social Review, · The Corporate Governance Report and, · The Group Statements of: ‘Income’ (also sometimes referred to as the Statement of Profit and Loss) ‘Balance Sheet’ and ‘Cash-Flows’. You learned about how different ‘stakeholders’ may use the information contained in these reports and financial statements. You also learned about financial ratios and how these can be used to interpret and assess the performance of a business in terms of its profitability, liquidity, efficiency and return to investors. The timing of the workshop was very fortuitous. You are the Purchasing Manager for the business you work for. You are in the process of letting a contract for the supply of an important component used in your business’s production. You have been provided with the financial statements of Benedict Co. who are one of a few companies tendering for the contract. The income statement and statement of financial position have been reproduced ...

1. For completing this assignment successfully, you must read
carefully the assignment brief to ensure that you address all of
the requirements of the assignment.
A strong assignment submission must include the following:
In order to complete this activity you need to consider the
following:
(1) Utilise academic research using literature from journals,
books, Google Scholar, etc. – Do not use unreliable sources
such as Wikipedia, Investopedia, blogs or other non-
professional or non-refereed articles. At this level of study it is
expected that you use a wide-range of sources to support your
discussion and analysis.
(2) Undertake a critical evaluation making effective use of
evidence and sources
(3) Present findings in an appropriate format (ensure that
Harvard referencing is used)
AF4S31 Assessment 1 (V2) Brief
This assignment will be marked out of 100%
This assignment contributes to 50% of the total module marks.

2. The assessments are bonded which means you need 40%+ over
both assessments combined to pass the module.
Learning Outcomes to be assessed
As specified in the validated module descriptor available at:
https://icis.southwales.ac.uk/studentmodules/10122/studentmod
ulespecifications
Learning outcome 1
The ability of students to critically assess, apply and evaluate
the issues and techniques of strategic financial management.
Grading Criteria
Please see School’s marking criteria for undergraduate/post
graduate assessments on the module VLE. Any additional
grading/marking guidance will be posted with assessment task
below.
Assignment
You have recently attended a workshop aimed at improving
your understanding of company Annual Reports using Tesco’s
report as an example.
During the workshop you looked at the following sections of
Tesco’s annual report:
· The Strategic Report including the Environmental and Social
Review,
· The Corporate Governance Report and,
· The Group Statements of: ‘Income’ (also sometimes referred
to as the Statement of Profit and Loss) ‘Balance Sheet’ and
‘Cash-Flows’.
You learned about how different ‘stakeholders’ may use the
information contained in these reports and financial statements.
You also learned about financial ratios and how these can be

3. used to interpret and assess the performance of a business in
terms of its profitability, liquidity, efficiency and return to
investors.
The timing of the workshop was very fortuitous. You are the
Purchasing Manager for the business you work for. You are in
the process of letting a contract for the supply of an important
component used in your business’s production. You have been
provided with the financial statements of Benedict Co. who are
one of a few companies tendering for the contract. The income
statement and statement of financial position have been
reproduced below.
As well as reviewing the financial statements of Benedict Co.
from a potential customer perspective, you are interested in how
the company may be viewed by potential investors, lenders and
suppliers.
You have also collected the following information about other
companies operating in the same sector as Benedict Co.:
Current ratio 1.6 Quick ratio
1.0
Trade receivable days 55 days Inventory days
60 days Trade payable days 90 days
Statement of income for Benedict Co. for the year to 31 January
20X1
20X0
$'000

4. $'000
Sales 30,800
24,900
Cost of sales 16,000
Gross profit 14,800
Admin expenses 1,700
14,500
10,400
400
Distribution costs 3,500
800
Finance costs 1,300
Profit before taxation 8,300
TAXATION 1,700
Profit after taxation 6,600
500
$'000
,600
,400
,000
,000
,900

5. ,900
,000
,100
,000
Benedict in 20X0.
8,700
1,700
7,000
Statement of financial position for Benedict Co. as at 31
January 20X1
20X1 20
$'000 $'000 $'000
Non-current assets 38,000
Current assets
Inventory 5,200 2,600
Trade receivables 7,6003,800
12,800
Total assets 50,800
Capital and reserves

6. Share capital 18,000 Reserves 10,000
28,000
Non-current liabilities
6% bonds 12,000
Current liabilities
Trade payables 6,800 4,300
Overdraft 4,000 800
10,800
50,800
X0
32
6
39
18
7
25
8
5
39
Dividends of $4.5 million were paid in 20X1 and $3.6 million in
20X0. Shares in Co. had a market value of $5.60 at 31 January
20X1 compared to $3.60 Benedict Co. has issued 18 million $1

7. shares.
Required:
Prepare a report for your manager which:
1) Using the Annual Report of Tesco available at the following
link:
https://www.tescoplc.com/media/264194/annual-report-2016.pdf
a) Explains the term ‘stakeholder’ and identifies three types of
stakeholder of
Tesco.
15%
b) Analyses how the Environmental and Social Review and the
Corporate Governance Report help Tesco demonstrate its
performance in terms of its corporate and social responsibilities
to two of the stakeholders identified in a) above.
35%
2) Analyses and evaluates the financial position of Benedict Co.
using a range of financial ratios to meet the requirements of
potential customers, investors, lenders and suppliers. Your
analysis should:
a) Explain the purpose and relevance of the chosen ratios.

8. b) Include the results for each chosen ratio and reasons for the
movement between the two years.
c) Highlight any aspects of the performance of Benedict Co.
which would give cause for concern.
d) Critically evaluate the application of financial ratios in
interpreting and measuring the performance of a company.
All calculations should be shown in full as an appendix to the
report. 40%
Marks are available for the presentation of your report including
structure, style and the
presentation of referencing.
10%
Total 100%

9. Grading Criteria
Section
Weighting
Criteria
(1) Using the AR of Tesco:
a) explain ‘Stakeholder’ and identify three of Tesco’s
stakeholders
b) analyse the ‘Environmental and
Social Review and
Corporate Governance Report how this demonstrates CSR to 2
stakeholders
15%
35%
Demonstrate:
· Relevant practical, academic and subject
specific skills
· Knowledge understanding and appreciation of issues involved.
· Ability to research and provide practical and relevant points
· Clear communication, explanation evaluation and discussion
of aspects being covered
(2) Financial analysis and interpretation
40%
Report Structure and presentation
10%
· Clarity of layout, grammar, presentation and inclusion of all
relevant matters
· Tone and use of professional language i.e. suitable for

10. addressee of report
· Accuracy of referencing, and appropriate use of appendices
Assessment guidance
Your report should be word processed, clearly laid out and
concise and should be supported by appropriate workings for
the numerical elements. The word limit for the report is 3,000
words.
The text of this assignment must be in your own words (not
even a sentence or phrase should be taken from another source
unless this source is referenced and the phrase placed in
quotes). It is dishonest not to acknowledge the work of other
people and you open yourself up to the accusation of
plagiarism. Referencing should in accordance with the Harvard
System. A guide published by the Library lists the most
common types of references with examples. The guide can be
found on the module VLE
Hand-in requirements and dates:
Please see the VLE
PLEASE NOTE THAT IF YOU ARE EVEN ONE MINUTE
LATE UPLOADING YOUR FILE THIS WILL COUNT AS A
LATE SUBMISSION AND THE APPROPRIATE PENALTY
WILL APPLY.
Reading List
Reading List Entry 1 Essential: 2 The latest editions of the
following texts:
Pike, R., Neale, B. and Linsley, P., Corporate Finance and
Investment, Pearson.
Further Reading:

11. Atrill, P. and McLaney, E., Accounting and Finance for Non-
Specialists,
FT Prentice Hall. 6 Watson, D. and Head, A., Corporate
Finance Principles & Practice, FT Prentice Hall.
Arnold, G., Corporate Financial Management, FT Prentice Hall.
8 Note this represents the indicative reading list as validated.
Students will be provided with annual up-dates to this if
required.
AF4S31 Assessment 1 (V2) Brief
This assignment will be marked out of 100%
This assignment contributes to 50% of the total module marks.
The assessments are bonded which means you need 40%+ over
both assessments combined to pass the module.
Learning Outcomes to be assessed
As specified in the validated module descriptor available at:
https://icis.southwales.ac.uk/studentmodules/10122/studentmod
ulespecifications
Learning outcome 1
The ability of students to critically assess, apply and evaluate
the issues and techniques of strategic financial management.
Grading Criteria
Please see School’s marking criteria for undergraduate/post
graduate assessments on the module VLE. Any additional
grading/marking guidance will be posted with assessment task
below.
Assignment
You have recently attended a workshop aimed at improving
your understanding of company Annual Reports using Tesco’s

12. report as an example.
During the workshop you looked at the following sections of
Tesco’s annual report:
· The Strategic Report including the Environmental and Social
Review,
· The Corporate Governance Report and,
· The Group Statements of: ‘Income’ (also sometimes referred
to as the Statement of Profit and Loss) ‘Balance Sheet’ and
‘Cash-Flows’.
You learned about how different ‘stakeholders’ may use the
information contained in these reports and financial statements.
You also learned about financial ratios and how these can be
used to interpret and assess the performance of a business in
terms of its profitability, liquidity, efficiency and return to
investors.
The timing of the workshop was very fortuitous. You are the
Purchasing Manager for the business you work for. You are in
the process of letting a contract for the supply of an important
component used in your business’s production. You have been
provided with the financial statements of Benedict Co. who are
one of a few companies tendering for the contract. The income
statement and statement of financial position have been
reproduced below.
As well as reviewing the financial statements of Benedict Co.
from a potential customer perspective, you are interested in how
the company may be viewed by potential investors, lenders and
suppliers.
You have also collected the following information about other
companies operating in the same sector as Benedict Co.:

13. Current ratio 1.6 Quick ratio
1.0
Trade receivable days 55 days Inventory days
60 days Trade payable days 90 days
Statement of income for Benedict Co. for the year to 31 January
20X1
20X0
$'000
$'000
Sales 30,800
24,900
Cost of sales 16,000
Gross profit 14,800
Admin expenses 1,700
14,500
10,400
400

14. Distribution costs 3,500
800
Finance costs 1,300
Profit before taxation 8,300
TAXATION 1,700
Profit after taxation 6,600
500
$'000
,600
,400
,000
,000
,900
,900
,000
,100
,000
Benedict in 20X0.
8,700
1,700
7,000

15. Statement of financial position for Benedict Co. as at 31
January 20X1
20X1 20
$'000 $'000 $'000
Non-current assets 38,000
Current assets
Inventory 5,200 2,600
Trade receivables 7,6003,800
12,800
Total assets 50,800
Capital and reserves
Share capital 18,000 Reserves 10,000
28,000
Non-current liabilities
6% bonds 12,000
Current liabilities
Trade payables 6,800 4,300
Overdraft 4,000 800
10,800
50,800
X0
32
6
39

16. 18
7
25
8
5
39
Dividends of $4.5 million were paid in 20X1 and $3.6 million in
20X0. Shares in Co. had a market value of $5.60 at 31 January
20X1 compared to $3.60 Benedict Co. has issued 18 million $1
shares.
Required:
Prepare a report for your manager which:
1) Using the Annual Report of Tesco available at the following
link:
https://www.tescoplc.com/media/264194/annual-report-2016.pdf
a) Explains the term ‘stakeholder’ and identifies three types of
stakeholder of

17. Tesco.
15%
b) Analyses how the Environmental and Social Review and the
Corporate Governance Report help Tesco demonstrate its
performance in terms of its corporate and social responsibilities
to two of the stakeholders identified in a) above.
35%
2) Analyses and evaluates the financial position of Benedict Co.
using a range of financial ratios to meet the requirements of
potential customers, investors, lenders and suppliers. Your
analysis should:
a) Explain the purpose and relevance of the chosen ratios.
b) Include the results for each chosen ratio and reasons for the
movement between the two years.
c) Highlight any aspects of the performance of Benedict Co.
which would give cause for concern.
d) Critically evaluate the application of financial ratios in
interpreting and measuring the performance of a company.
All calculations should be shown in full as an appendix to the
report. 40%
Marks are available for the presentation of your report including
structure, style and the
presentation of referencing.
10%
Total 100%

18. Grading Criteria
Section
Weighting
Criteria
(1) Using the AR of Tesco:
a) explain ‘Stakeholder’ and identify three of Tesco’s
stakeholders
b) analyse the ‘Environmental and
Social Review and
Corporate Governance Report how this demonstrates CSR to 2
stakeholders
15%
35%

19. Demonstrate:
· Relevant practical, academic and subject
specific skills
· Knowledge understanding and appreciation of issues involved.
· Ability to research and provide practical and relevant points
· Clear communication, explanation evaluation and discussion
of aspects being covered
(2) Financial analysis and interpretation
40%
Report Structure and presentation
10%
· Clarity of layout, grammar, presentation and inclusion of all
relevant matters
· Tone and use of professional language i.e. suitable for
addressee of report
· Accuracy of referencing, and appropriate use of appendices
Assessment guidance
Your report should be word processed, clearly laid out and
concise and should be supported by appropriate workings for
the numerical elements. The word limit for the report is 3,000
words.
The text of this assignment must be in your own words (not
even a sentence or phrase should be taken from another source
unless this source is referenced and the phrase placed in
quotes). It is dishonest not to acknowledge the work of other
people and you open yourself up to the accusation of
plagiarism. Referencing should in accordance with the Harvard
System. A guide published by the Library lists the most
common types of references with examples. The guide can be
found on the module VLE
Hand-in requirements and dates:
Please see the VLE

20. PLEASE NOTE THAT IF YOU ARE EVEN ONE MINUTE
LATE UPLOADING YOUR FILE THIS WILL COUNT AS A
LATE SUBMISSION AND THE APPROPRIATE PENALTY
WILL APPLY.
Reading List
Reading List Entry 1 Essential: 2 The latest editions of the
following texts:
Pike, R., Neale, B. and Linsley, P., Corporate Finance and
Investment, Pearson.
Further Reading:
Atrill, P. and McLaney, E., Accounting and Finance for Non-
Specialists,
FT Prentice Hall. 6 Watson, D. and Head, A., Corporate
Finance Principles & Practice, FT Prentice Hall.
Arnold, G., Corporate Financial Management, FT Prentice Hall.
8 Note this represents the indicative reading list as validated.
Students will be provided with annual up-dates to this if
required.
For completing this assignment successfully, you must read
carefully the assignment brief to ensure that you address all of
the requirements of the assignment.
A strong assignment submission must include the following:
ritical Evaluation
In order to complete this activity you need to consider the

21. following:
(1) Utilise academic research using literature from journals,
books, Google Scholar, etc. – Do not use unreliable sources
such as Wikipedia, Investopedia, blogs or other non-
professional or non-refereed articles. At this level of study it is
expected that you use a wide-range of sources to support your
discussion and analysis.
(2) Undertake a critical evaluation making effective use of
evidence and sources
(3) Present findings in an appropriate format (ensure that
Harvard referencing is used)
Figures below reflect the latest published information. For years
prior to 2015/16, these figures represent the comparatives from
the following years’ financial
statements. Korea was first classified as a discontinued
operation in 2015/16. China was first classified as a
discontinued operation in 2013/14. US was first
classified as a discontinued operation in 2012/13.
The Group has determined new segments and defined new non-
GAAP measures for 2015/16 onwards. Refer to Note 1 and Note
2. 2014/15 data for these
new measures and segments has been presented, but prior
historic data has not.
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3. AF4S31-V2
4. Assessment Point 1
5. Summative Assessment 1 Brief and Marking Scheme V2
Summative Assessment 1 Brief and Marking Scheme V2
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Reading List
Reading List Entry 1 Essential: 2 The latest editions of the
following texts:
Pike, R., Neale, B. and Linsley, P., Corporate Finance and
Investment, Pearson.
Further Reading:
Atrill, P. and McLaney, E., Accounting and Finance for Non-
Specialists,
FT Prentice Hall. 6 Watson, D. and Head, A., Corporate
Finance Principles & Practice, FT Prentice Hall.
Arnold, G., Corporate Financial Management, FT Prentice Hall.
8 Note this represents the indicative reading list as validated.
Students will be provided with annual up-dates to this if
required.