The document provides a detailed analysis and comparison of the annual report disclosures of Vodafone, Telstra, Verizon, and Idea in the telecom sector. It analyzes the extent and quality of disclosures related to revenue recognition, depreciation, fixed asset accounting, and inventory valuation policies. The key findings are:
1) The companies disclose both mandatory and voluntary information to varying degrees, with Telstra providing the most comprehensive disclosures.
2) Revenue recognition policies differ between companies and are tailored to their specific businesses. Telstra's policy is the most clear and justified.
3) Depreciation is primarily done using the straight-line method. No significant changes to policies have been made
The document provides information about accounting concepts and principles related to trial balance, final accounts, trading account and profit and loss account. It defines that a trial balance is prepared at the end of the financial year to check the arithmetical accuracy of accounts. It also explains the format and components of trading account and profit and loss account and provides examples of how to prepare these accounts from given balances.
This document provides a summary of Cameron Cowan's statement on securitization before two Congressional subcommittees. It discusses the history and growth of securitization, including the creation of mortgage-backed securities and asset-backed securities. Securitization involves pooling financial assets and issuing bonds backed by the cash flows from those assets, allowing originators to access funds upfront. This market has grown tremendously since the 1970s and now stands at $6.6 trillion, greatly expanding access to credit for borrowers and investment opportunities for investors.
Equity analysis of telecom sector for anand rathi securities by shilpa mandhanRavichandra Ks
The document outlines a project report submitted by Shilpa Mandhan to the University of Pune on conducting an equity analysis of the telecom sector for Anand Rathi Securities Ltd. under the guidance of Prof. Mahesh Halale. It provides details about Shilpa Mandhan, the project, Anand Rathi Securities Ltd., and the scope and objectives of the equity analysis project.
Indian Telecom Sector- Analysis of industry, Key Player, Future Prospects, Valuations of major players & relative benchmarking, SWOT analysis, Porter's Five Forces (5 Forces).
This presentation have been made by ISBM Kolkata, students.This is basically on the reforms of Indian Telecoms Industry after liberalization.Industry analysis is the backdrop throughout the presentation 7 then emphasis on a particular company.
The document discusses an organizational profile for KOMOLINE, an Indian company established in 1990 that specializes in precision sensors, data loggers, transmitters, and software for weather monitoring and satellite communications equipment. KOMOLINE has in-house design, development, testing, and manufacturing capabilities and provides automated weather stations, sensor networks, tide gauges, and satellite communication modems for applications like weather forecasting and disaster management.
This document is a project report submitted by Chandrasekhar Goud for his MBA in finance. The report studies online trading and stock broking at Sharekhan Pvt Ltd. The objectives are to analyze changes after moving from outcry to online trading, study Sharekhan's departments, understand their online trading system, and explore future developments. The methodology includes interviews with Sharekhan and collecting secondary data from materials, magazines, and books. Some limitations include brokers providing little market insight and potential queuing delays accessing markets through brokers.
2024 State of Marketing Report – by HubspotMarius Sescu
https://www.hubspot.com/state-of-marketing
· Scaling relationships and proving ROI
· Social media is the place for search, sales, and service
· Authentic influencer partnerships fuel brand growth
· The strongest connections happen via call, click, chat, and camera.
· Time saved with AI leads to more creative work
· Seeking: A single source of truth
· TLDR; Get on social, try AI, and align your systems.
· More human marketing, powered by robots
The document provides information about accounting concepts and principles related to trial balance, final accounts, trading account and profit and loss account. It defines that a trial balance is prepared at the end of the financial year to check the arithmetical accuracy of accounts. It also explains the format and components of trading account and profit and loss account and provides examples of how to prepare these accounts from given balances.
This document provides a summary of Cameron Cowan's statement on securitization before two Congressional subcommittees. It discusses the history and growth of securitization, including the creation of mortgage-backed securities and asset-backed securities. Securitization involves pooling financial assets and issuing bonds backed by the cash flows from those assets, allowing originators to access funds upfront. This market has grown tremendously since the 1970s and now stands at $6.6 trillion, greatly expanding access to credit for borrowers and investment opportunities for investors.
Equity analysis of telecom sector for anand rathi securities by shilpa mandhanRavichandra Ks
The document outlines a project report submitted by Shilpa Mandhan to the University of Pune on conducting an equity analysis of the telecom sector for Anand Rathi Securities Ltd. under the guidance of Prof. Mahesh Halale. It provides details about Shilpa Mandhan, the project, Anand Rathi Securities Ltd., and the scope and objectives of the equity analysis project.
Indian Telecom Sector- Analysis of industry, Key Player, Future Prospects, Valuations of major players & relative benchmarking, SWOT analysis, Porter's Five Forces (5 Forces).
This presentation have been made by ISBM Kolkata, students.This is basically on the reforms of Indian Telecoms Industry after liberalization.Industry analysis is the backdrop throughout the presentation 7 then emphasis on a particular company.
The document discusses an organizational profile for KOMOLINE, an Indian company established in 1990 that specializes in precision sensors, data loggers, transmitters, and software for weather monitoring and satellite communications equipment. KOMOLINE has in-house design, development, testing, and manufacturing capabilities and provides automated weather stations, sensor networks, tide gauges, and satellite communication modems for applications like weather forecasting and disaster management.
This document is a project report submitted by Chandrasekhar Goud for his MBA in finance. The report studies online trading and stock broking at Sharekhan Pvt Ltd. The objectives are to analyze changes after moving from outcry to online trading, study Sharekhan's departments, understand their online trading system, and explore future developments. The methodology includes interviews with Sharekhan and collecting secondary data from materials, magazines, and books. Some limitations include brokers providing little market insight and potential queuing delays accessing markets through brokers.
2024 State of Marketing Report – by HubspotMarius Sescu
https://www.hubspot.com/state-of-marketing
· Scaling relationships and proving ROI
· Social media is the place for search, sales, and service
· Authentic influencer partnerships fuel brand growth
· The strongest connections happen via call, click, chat, and camera.
· Time saved with AI leads to more creative work
· Seeking: A single source of truth
· TLDR; Get on social, try AI, and align your systems.
· More human marketing, powered by robots
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
ChatGPT is a revolutionary addition to the world since its introduction in 2022. A big shift in the sector of information gathering and processing happened because of this chatbot. What is the story of ChatGPT? How is the bot responding to prompts and generating contents? Swipe through these slides prepared by Expeed Software, a web development company regarding the development and technical intricacies of ChatGPT!
Product Design Trends in 2024 | Teenage EngineeringsPixeldarts
The realm of product design is a constantly changing environment where technology and style intersect. Every year introduces fresh challenges and exciting trends that mold the future of this captivating art form. In this piece, we delve into the significant trends set to influence the look and functionality of product design in the year 2024.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
ChatGPT is a revolutionary addition to the world since its introduction in 2022. A big shift in the sector of information gathering and processing happened because of this chatbot. What is the story of ChatGPT? How is the bot responding to prompts and generating contents? Swipe through these slides prepared by Expeed Software, a web development company regarding the development and technical intricacies of ChatGPT!
Product Design Trends in 2024 | Teenage EngineeringsPixeldarts
The realm of product design is a constantly changing environment where technology and style intersect. Every year introduces fresh challenges and exciting trends that mold the future of this captivating art form. In this piece, we delve into the significant trends set to influence the look and functionality of product design in the year 2024.
How Race, Age and Gender Shape Attitudes Towards Mental HealthThinkNow
Mental health has been in the news quite a bit lately. Dozens of U.S. states are currently suing Meta for contributing to the youth mental health crisis by inserting addictive features into their products, while the U.S. Surgeon General is touring the nation to bring awareness to the growing epidemic of loneliness and isolation. The country has endured periods of low national morale, such as in the 1970s when high inflation and the energy crisis worsened public sentiment following the Vietnam War. The current mood, however, feels different. Gallup recently reported that national mental health is at an all-time low, with few bright spots to lift spirits.
To better understand how Americans are feeling and their attitudes towards mental health in general, ThinkNow conducted a nationally representative quantitative survey of 1,500 respondents and found some interesting differences among ethnic, age and gender groups.
Technology
For example, 52% agree that technology and social media have a negative impact on mental health, but when broken out by race, 61% of Whites felt technology had a negative effect, and only 48% of Hispanics thought it did.
While technology has helped us keep in touch with friends and family in faraway places, it appears to have degraded our ability to connect in person. Staying connected online is a double-edged sword since the same news feed that brings us pictures of the grandkids and fluffy kittens also feeds us news about the wars in Israel and Ukraine, the dysfunction in Washington, the latest mass shooting and the climate crisis.
Hispanics may have a built-in defense against the isolation technology breeds, owing to their large, multigenerational households, strong social support systems, and tendency to use social media to stay connected with relatives abroad.
Age and Gender
When asked how individuals rate their mental health, men rate it higher than women by 11 percentage points, and Baby Boomers rank it highest at 83%, saying it’s good or excellent vs. 57% of Gen Z saying the same.
Gen Z spends the most amount of time on social media, so the notion that social media negatively affects mental health appears to be correlated. Unfortunately, Gen Z is also the generation that’s least comfortable discussing mental health concerns with healthcare professionals. Only 40% of them state they’re comfortable discussing their issues with a professional compared to 60% of Millennials and 65% of Boomers.
Race Affects Attitudes
As seen in previous research conducted by ThinkNow, Asian Americans lag other groups when it comes to awareness of mental health issues. Twenty-four percent of Asian Americans believe that having a mental health issue is a sign of weakness compared to the 16% average for all groups. Asians are also considerably less likely to be aware of mental health services in their communities (42% vs. 55%) and most likely to seek out information on social media (51% vs. 35%).
AI Trends in Creative Operations 2024 by Artwork Flow.pdfmarketingartwork
Creative operations teams expect increased AI use in 2024. Currently, over half of tasks are not AI-enabled, but this is expected to decrease in the coming year. ChatGPT is the most popular AI tool currently. Business leaders are more actively exploring AI benefits than individual contributors. Most respondents do not believe AI will impact workforce size in 2024. However, some inhibitions still exist around AI accuracy and lack of understanding. Creatives primarily want to use AI to save time on mundane tasks and boost productivity.
Organizational culture includes values, norms, systems, symbols, language, assumptions, beliefs, and habits that influence employee behaviors and how people interpret those behaviors. It is important because culture can help or hinder a company's success. Some key aspects of Netflix's culture that help it achieve results include hiring smartly so every position has stars, focusing on attitude over just aptitude, and having a strict policy against peacocks, whiners, and jerks.
PEPSICO Presentation to CAGNY Conference Feb 2024Neil Kimberley
PepsiCo provided a safe harbor statement noting that any forward-looking statements are based on currently available information and are subject to risks and uncertainties. It also provided information on non-GAAP measures and directing readers to its website for disclosure and reconciliation. The document then discussed PepsiCo's business overview, including that it is a global beverage and convenient food company with iconic brands, $91 billion in net revenue in 2023, and nearly $14 billion in core operating profit. It operates through a divisional structure with a focus on local consumers.
Content Methodology: A Best Practices Report (Webinar)contently
This document provides an overview of content methodology best practices. It defines content methodology as establishing objectives, KPIs, and a culture of continuous learning and iteration. An effective methodology focuses on connecting with audiences, creating optimal content, and optimizing processes. It also discusses why a methodology is needed due to the competitive landscape, proliferation of channels, and opportunities for improvement. Components of an effective methodology include defining objectives and KPIs, audience analysis, identifying opportunities, and evaluating resources. The document concludes with recommendations around creating a content plan, testing and optimizing content over 90 days.
How to Prepare For a Successful Job Search for 2024Albert Qian
The document provides guidance on preparing a job search for 2024. It discusses the state of the job market, focusing on growth in AI and healthcare but also continued layoffs. It recommends figuring out what you want to do by researching interests and skills, then conducting informational interviews. The job search should involve building a personal brand on LinkedIn, actively applying to jobs, tailoring resumes and interviews, maintaining job hunting as a habit, and continuing self-improvement. Once hired, the document advises setting new goals and keeping skills and networking active in case of future opportunities.
A report by thenetworkone and Kurio.
The contributing experts and agencies are (in an alphabetical order): Sylwia Rytel, Social Media Supervisor, 180heartbeats + JUNG v MATT (PL), Sharlene Jenner, Vice President - Director of Engagement Strategy, Abelson Taylor (USA), Alex Casanovas, Digital Director, Atrevia (ES), Dora Beilin, Senior Social Strategist, Barrett Hoffher (USA), Min Seo, Campaign Director, Brand New Agency (KR), Deshé M. Gully, Associate Strategist, Day One Agency (USA), Francesca Trevisan, Strategist, Different (IT), Trevor Crossman, CX and Digital Transformation Director; Olivia Hussey, Strategic Planner; Simi Srinarula, Social Media Manager, The Hallway (AUS), James Hebbert, Managing Director, Hylink (CN / UK), Mundy Álvarez, Planning Director; Pedro Rojas, Social Media Manager; Pancho González, CCO, Inbrax (CH), Oana Oprea, Head of Digital Planning, Jam Session Agency (RO), Amy Bottrill, Social Account Director, Launch (UK), Gaby Arriaga, Founder, Leonardo1452 (MX), Shantesh S Row, Creative Director, Liwa (UAE), Rajesh Mehta, Chief Strategy Officer; Dhruv Gaur, Digital Planning Lead; Leonie Mergulhao, Account Supervisor - Social Media & PR, Medulla (IN), Aurelija Plioplytė, Head of Digital & Social, Not Perfect (LI), Daiana Khaidargaliyeva, Account Manager, Osaka Labs (UK / USA), Stefanie Söhnchen, Vice President Digital, PIABO Communications (DE), Elisabeth Winiartati, Managing Consultant, Head of Global Integrated Communications; Lydia Aprina, Account Manager, Integrated Marketing and Communications; Nita Prabowo, Account Manager, Integrated Marketing and Communications; Okhi, Web Developer, PNTR Group (ID), Kei Obusan, Insights Director; Daffi Ranandi, Insights Manager, Radarr (SG), Gautam Reghunath, Co-founder & CEO, Talented (IN), Donagh Humphreys, Head of Social and Digital Innovation, THINKHOUSE (IRE), Sarah Yim, Strategy Director, Zulu Alpha Kilo (CA).
Trends In Paid Search: Navigating The Digital Landscape In 2024Search Engine Journal
The search marketing landscape is evolving rapidly with new technologies, and professionals, like you, rely on innovative paid search strategies to meet changing demands.
It’s important that you’re ready to implement new strategies in 2024.
Check this out and learn the top trends in paid search advertising that are expected to gain traction, so you can drive higher ROI more efficiently in 2024.
You’ll learn:
- The latest trends in AI and automation, and what this means for an evolving paid search ecosystem.
- New developments in privacy and data regulation.
- Emerging ad formats that are expected to make an impact next year.
Watch Sreekant Lanka from iQuanti and Irina Klein from OneMain Financial as they dive into the future of paid search and explore the trends, strategies, and technologies that will shape the search marketing landscape.
If you’re looking to assess your paid search strategy and design an industry-aligned plan for 2024, then this webinar is for you.
5 Public speaking tips from TED - Visualized summarySpeakerHub
From their humble beginnings in 1984, TED has grown into the world’s most powerful amplifier for speakers and thought-leaders to share their ideas. They have over 2,400 filmed talks (not including the 30,000+ TEDx videos) freely available online, and have hosted over 17,500 events around the world.
With over one billion views in a year, it’s no wonder that so many speakers are looking to TED for ideas on how to share their message more effectively.
The article “5 Public-Speaking Tips TED Gives Its Speakers”, by Carmine Gallo for Forbes, gives speakers five practical ways to connect with their audience, and effectively share their ideas on stage.
Whether you are gearing up to get on a TED stage yourself, or just want to master the skills that so many of their speakers possess, these tips and quotes from Chris Anderson, the TED Talks Curator, will encourage you to make the most impactful impression on your audience.
See the full article and more summaries like this on SpeakerHub here: https://speakerhub.com/blog/5-presentation-tips-ted-gives-its-speakers
See the original article on Forbes here:
http://www.forbes.com/forbes/welcome/?toURL=http://www.forbes.com/sites/carminegallo/2016/05/06/5-public-speaking-tips-ted-gives-its-speakers/&refURL=&referrer=#5c07a8221d9b
ChatGPT and the Future of Work - Clark Boyd Clark Boyd
Everyone is in agreement that ChatGPT (and other generative AI tools) will shape the future of work. Yet there is little consensus on exactly how, when, and to what extent this technology will change our world.
Businesses that extract maximum value from ChatGPT will use it as a collaborative tool for everything from brainstorming to technical maintenance.
For individuals, now is the time to pinpoint the skills the future professional will need to thrive in the AI age.
Check out this presentation to understand what ChatGPT is, how it will shape the future of work, and how you can prepare to take advantage.
The document provides career advice for getting into the tech field, including:
- Doing projects and internships in college to build a portfolio.
- Learning about different roles and technologies through industry research.
- Contributing to open source projects to build experience and network.
- Developing a personal brand through a website and social media presence.
- Networking through events, communities, and finding a mentor.
- Practicing interviews through mock interviews and whiteboarding coding questions.
Google's Just Not That Into You: Understanding Core Updates & Search IntentLily Ray
1. Core updates from Google periodically change how its algorithms assess and rank websites and pages. This can impact rankings through shifts in user intent, site quality issues being caught up to, world events influencing queries, and overhauls to search like the E-A-T framework.
2. There are many possible user intents beyond just transactional, navigational and informational. Identifying intent shifts is important during core updates. Sites may need to optimize for new intents through different content types and sections.
3. Responding effectively to core updates requires analyzing "before and after" data to understand changes, identifying new intents or page types, and ensuring content matches appropriate intents across video, images, knowledge graphs and more.
A brief introduction to DataScience with explaining of the concepts, algorithms, machine learning, supervised and unsupervised learning, clustering, statistics, data preprocessing, real-world applications etc.
It's part of a Data Science Corner Campaign where I will be discussing the fundamentals of DataScience, AIML, Statistics etc.
Time Management & Productivity - Best PracticesVit Horky
Here's my presentation on by proven best practices how to manage your work time effectively and how to improve your productivity. It includes practical tips and how to use tools such as Slack, Google Apps, Hubspot, Google Calendar, Gmail and others.
The six step guide to practical project managementMindGenius
The six step guide to practical project management
If you think managing projects is too difficult, think again.
We’ve stripped back project management processes to the
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Analysis of Telecom Sector FA
1. COMPLETE ANALYSIS OF ANNUAL REPORTS OF VARIOUS COMPANIES IN THE TELECOM SECTOR
Prepared By:
Group No. 5, Section A
2. a) Assessing the quantum and quality of disclosures
1. Extent of overall disclosures of Selected Companies:
Different disclosures in the financial statements are as follows:
Vodafone:
Mandatory Voluntary
Basis of preparation Yes No
Accounting for subsidiaries Yes No
Acquisition of interests from non-controlling shareholders Yes No
Interests in joint ventures No Yes
Investments in associates Yes No
Intangible assets Yes No
Licence and spectrum fees No Yes
Computer software No Yes
Property, plant and equipment Yes No
Impairment of assets Yes No
Revenue Yes No
Inventory Yes No
Leasing Yes No
Foreign currencies Yes No
Commissions No Yes
Post employment benefits Yes No
Taxation Yes No
Provisions Yes No
Share-based payments Yes No
Telstra:
Mandatory Voluntary
Basis of preparation of the financial report Yes No
Clarification of terminology used in our income statement No Yes
Rounding No Yes
Changes in accounting policies Yes No
Foreign currency translation Yes No
Cash and cash equivalents Yes No
Trade and other receivables Yes No
Inventories Yes No
Construction contracts No Yes
Investments Yes No
Impairment Yes No
Property, plant and equipment Yes No
Leased plant and equipment Yes No
Intangible assets Yes No
Trade and other payables Yes No
3. Provisions No Yes
Borrowings Yes No
Share capital Yes No
Revenue recognition Yes No
Taxation Yes No
Earnings per share Yes No
Post-employment benefits Yes No
Employee Share Plans Yes No
Derivative financial instruments No Yes
Contingent Liabilities No Yes
Verizon:
Mandatory Voluntary
Basis of Presentation Yes No
Earnings Per Common Share Yes No
Cash and Cash Equivalents Yes No
Marketable Securities Yes No
Maintenance and Repairs No Yes
Advertising Costs No Yes
Inventories Yes No
Plant and Depreciation Yes No
Computer Software Costs No Yes
Income Taxes Yes No
Foreign Currency Translation Yes No
Employee Benefit Plans Yes No
Derivative Instruments No Yes
Stock-Based Compensation Yes No
Idea:
Mandatory Voluntary
Basis of Preparation of Financial Statements Yes No
Fixed Assets Yes No
Expenditure during pre-operative period of license No Yes
Depreciation and Amortisation Yes No
Inventories Yes No
Foreign currency transactions, forward contracts & other
Yes No
derivatives
Taxation Yes No
Retirement Benefits Yes No
Revenue Recognition and Receivables Yes No
Investments Yes No
Borrowing Cost No Yes
License Fees-Revenue Share No Yes
Use of Estimate No Yes
Leases Yes No
4. Earnings Per Share Yes No
Impairment of Assets Yes No
Provisions & Contingent Liability No Yes
Issue Expenditure No Yes
Employee Stock Option Yes No
1.1 Identify such disclosures - voluntary and mandatory- that are done only by the one of
the four companies?
Vodafone:
Unique mandatory disclosures:
Accounting for subsidiaries
Acquisition of interests from non-controlling shareholders
Unique voluntary disclosure:
Interests in joint ventures
Telstra:
Unique mandatory disclosures:
Changes in accounting policies
Unique voluntary disclosures:
Clarification of terminology used in our income statement
Rounding
Construction contracts
Derivative financial instruments
Contingent Liabilities
Verizon:
Unique mandatory disclosures:
Marketable Securities
Unique voluntary disclosures:
Borrowing Cost
Advertising Costs
Idea:
Unique voluntary disclosures:
Maintenance and Repairs
Issue Expenditure
1.2 Are these omitted disclosures important to the decision making process of any of the
constituencies interested in the four companies?
The voluntary disclosures and some mandatory disclosures like Accounting for subsidiaries and
changes in accounting policies may not be applicable but some mandatory disclosures like
Marketable Securities is important to better analyse the company’s financial statements.
5. 2. Compare the quality of various disclosures
2.1 Revenue Recognition:
VODAFONE
Determining the fair value of each deliverable can require complex estimates due to the nature of
the goods and services provided. The Group generally determines the fair value of individual
elements based on prices at which the deliverable is regularly sold on a standalone basis after
considering volume discounts where appropriate.
TELSTRA
Rendering of services-straight line basis over the period of service provided, unless another
method better represents the stage of completion.
Sale of goods-This revenue is recorded on delivery of the goods sold.
Rent of network facilities-The revenue from providing access to the network is recorded on
an accrual basis over the rental period.
Construction contracts-Telstra records construction revenue and profit on a percentage of
contract completion bases. The percentage of completion is calculated based on estimated
costs to complete the contract.
Advertising and directory services-Classified advertisements and display advertisements are
published on a daily, weekly and monthly basis for which revenues are recognised at the
time the advertisement is published. All of our Yellow Pages and White Pages directory print
revenues are recognised on delivery of the published directories to customers’ premises.
Revenue from online directories is recognised over the life of service agreements, which is
on average one year. Voice directory revenues are recognised at the time of providing the
service to customers.
Royalties-Royalty revenue is recognised on an accrual basis in accordance with the
substance of the relevant agreements.
Interest revenue-Telstra records interest revenue on an accruals basis. For financial assets,
interest revenue is determined by the effective yield on the instrument.
Revenue arrangements with multiple deliverables- The Company allocates the
consideration from the revenue arrangement to its separate units based on the relative
selling prices of each unit. If neither vendor specific objective evidence nor third party
evidence exists for the selling price, then the item is measured based on the best estimate of
the selling price of that unit.
Government grants- Grants from the government are recognised at their fair value where
there is a reasonable assurance. Government grants relating to costs are deferred and
recognised in the profit or loss over the period necessary to match them with the costs that
they are intended to compensate. Government grants relating to the purchase of property,
plant and equipment are included in noncurrent liabilities as deferred income and are
credited to profit or loss on a straight line basis over the expected lives of the related assets.
The benefit of a government loan at a below-market rate of interest is treated as a
government grant. The loan is measured at amortised cost.
6. VERIZON
On January 1, 2011, Verizon prospectively adopted the accounting standard updates regarding
revenue recognition for multiple deliverable arrangements, and arrangements that include software
elements. These updates require a vendor to allocate revenue in an arrangement using its best
estimate of selling price if neither vendor specific objective evidence (VSOE) nor third party evidence
(TPE) of selling price exists. The residual method of revenue allocation is no longer permissible.
These accounting standard updates do not change our units of accounting for bundled
arrangements, nor do they materially change how the company allocates arrangement consideration
to our various products and services. Accordingly, the adoption of these standard updates did not
have a significant impact on our consolidated financial statements. Additionally, the company does
not currently foresee any changes to our products, services or pricing practices that will have a
significant effect on our consolidated financial statements in periods after the initial adoption,
although this could change.
IDEA
Revenue on account of telephony services (mobile & long distance) and sale of handsets and related
accessories are recognized net of rebates, discount, service tax, etc. on rendering of services and
supply of goods respectively. Recharge fees on recharge vouchers is recognized as revenue as and
when the recharge voucher is activated by the subscriber. Service Income from Passive
infrastructure is recognized on accrual basis (net of reimbursements) as per the contractual terms on
straight line method over the contract period. Unbilled receivables, represent revenues recognized
from the bill cycle date to the end of each month. These are billed in subsequent periods as per the
agreed terms. Debts (net of security deposits outstanding there against) due from subscribers, which
remain unpaid for more than 90 days from the date of bill and/or other debts which are otherwise
considered doubtful, are provided for. Provision for doubtful debts on account of interconnect usage
charges (IUC), roaming charges and passive infrastructure sharing from other telecom operators is
made for dues outstanding more than 180 days from the date of billing other than cases when an
amount is payable to that operator or in specific case when management is of the view that the
amount is recoverable.
2.1.1 What are the revenue recognition policies of four companies? Are these policies unusual in
anyways?
Revenue recognition policies of four companies are different for different items. No these policies
are not unusual in anyways but few companies has not disclosed anything eg. Like VODAFONE and
VERIZON have not given any information.
2.1.2 Whose policy is easy to understand and is consistent with the way company is carrying out
its business? Are these policies justified in terms of their risks and advantages? Do these policies
make the reported revenue numbers more conservative or less conservative?
TELSTRA’s policy is easy to understand and is consistent with the way company is carrying its
business. Yes these policies are justified in terms of their risks and advantages. It doesn’t seem to be
aggressive or at the same the same time they are not more conservative or less conservative.
7. 2.1.3. Has it provided any justification for the same?
VERIZON company changed its policy in the recent year (On January 1, 2011) it provided justification
provided is (the company prospectively adopted the accounting standard updates regarding revenue
recognition for multiple deliverable arrangements, and arrangements that include software
elements. These updates require a vendor to allocate revenue in an arrangement using its best
estimate of selling price if neither vendor specific objective evidence (VSOE) nor third party evidence
(TPE) of selling price exists. The residual method of revenue allocation is no longer permissible.
These accounting standard updates do not change our units of accounting for bundled
arrangements, nor do they materially change how the company allocate arrangement consideration
to our various products and services. Accordingly, the adoption of these standard updates did not
have a significant impact on our consolidated financial statements.
2.2. Depreciation policy:
2.2.1. How four companies are depreciating there assets? Are the policies of two companies
consistent with the way they carry out their businesses?
IDEA
Depreciation on fixed assets is provided on straight-line method (except stated otherwise) on pro-
rata basis on their estimated useful economic lives. Intangible Assets are amortised on straight-line
method as under:-
i) Cost of Rights, Licences including the fees paid on fixed basis prior to revenue share regime and
Spectrum fee is amortised on straight-line method on commencement of operations over the
validity period.
ii) Software, which is not an integral part of hardware, is treated as an intangible asset and is
amortized over its useful economic life as estimated by the management between 3 to 5 years.
iii) Bandwidth / Fibre taken on Indefeasible Right of Use (IRU) is amortised over the agreement
period. Assets costing up to 5,000/- are depreciated fully in the month of purchase.
VODAFONE
Land and buildings held for use are stated in the statement of financial position at their cost, less any
subsequent accumulated depreciation and subsequent accumulated impairment losses.
Equipment, fixtures and fittings are stated at cost less accumulated depreciation and any
accumulated impairment losses.
Assets in the course of construction are carried at cost, less any recognised impairment loss.
Depreciation of these assets commences when the assets are ready for their intended use.
The cost of property, plant and equipment includes directly attributable incremental costs incurred
in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets, other than land and properties under
construction, using the straight-line method, over their estimated useful lives, as follows:
8. Freehold buildings 25 – 50 years
Leasehold premises the term of the lease
Equipment, fixtures and fittings:
Network infrastructure 3 – 25 years
Other 3 – 10 years
Depreciation is not provided on freehold land.
Assets held under finance leases are depreciated over their expected useful lives on the same basis
as owned assets or, where shorter, the term of the relevant lease.
The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is
determined as the difference between the sale proceeds and the carrying amount of the asset and is
recognized in the income statement.
TELSTRA
Items of property, plant and equipment, including buildings and leasehold property, but excluding
freehold land, are depreciated on a straight line basis to the income statement over their estimated
service lives. The company start depreciating assets when they are installed and ready for use
VERIZON
Verizon also follows only straight line depreciation and left for very few exceptions for items of
plant, property and equipment.
2.2.2. Has anyone of the companies changed its depreciation policy in the recent years? Has it
provided any justification for the same?
As far from the annual reports there is no evidence that any of the company has changed the
methods of depreciation.
2.2.3. Are there policies conservative or aggressive or moderate?
No company seems to be very aggressive, more or less conservative. All the companies have only
followed straight line depreciation method only except for few exceptions. They are moderate.
9. 2.3. Fixed Asset Accounting:
2.3.1. Which model Cost vs. Revaluation companies are following for their various asset classes?
None of the four companies have mentioned anything in their financial statements about
revaluation of fixed assets.
Telstra have mentioned that they have suffered some losses due to revaluation of non fixed
assets like equity, derivatives, transactions either not designated or de-designated from fair
value hedge relationships; on the other hand they have non cash revaluation gains which are
primarily due to a strengthening of the Australian dollar.
2.3.2. If a company is following revaluation model for any of its asset classes, is it keeping the
value of its assets updated?
Telstra is updating their non fixed assets and non cash revaluation gains every year.
2.3.3. Are the reasons for revaluation/impairment of company’s assets adequately disclosed?
Yes all the four companies have disclosed the adequate reasons for their impairment and
revaluation (if any).
2.3.4. Is the basis used for arriving at revaluation estimates disclosed?
Telstra have clearly mentioned the basis of how it arrived at the revaluation estimates like non cash
revaluation gains which are primarily due to a strengthening of the Australian dollar, some losses
due to revaluation of non fixed assets like equity, derivatives, transactions either not designated or
de-designated from fair value hedge relationships.
2.3.5. Is the company depending on external valuation expert or in-house valuation expertise?
All the companies are doing their in-house valuation
2.3.6. Is there any Indian or global company belonging to the firm industry which has done
revaluation of its plant and equipment during recent year?
No, none of these companies have done any kind of revaluation of its plant and equipment during
recent year
2.3.7. Has anyone of the companies changed its policy in the recent years? Has it provided any
justification for the same?
There are few changes that have been by all the companies except IDEA cellular in current financial
year.
Verizon: Adopted the accounting standard updates regarding revenue recognition for
multiple deliverable arrangements, and arrangements that include software elements.
No justification provided
Vodafone: On 1 April 2011 the Group adopted new accounting policies to comply with:
“Improvements to IFRS” issued in May 2010.
Amendments to IAS 24 “State-controlled entities and the definition of a related
party”.
10. Amendments to IFRIC 14 “Prepayments on a minimum funding requirement”.
IFRIC 19 “Extinguishing financial liabilities with equity instruments”.
No justification required as they have been amended as per the changes in the existing
rules of different authority that being followed by the company.
Telstra: There are few amendments made by Telstra like
AASB 136: “Impairment of Assets”
AASB 107: “Statement of Cash Flows”
AASB 1054: “Australian Additional Disclosures”
Proper justification has been provided for the amendments.
2.4 Inventory Valuation Policy:
2.4.1. What Inventory valuation policies four companies have?
All four companies determine the inventory value as the lower of cost and market value. The cost is
evaluated as:
Company Inventory Valuation Policy
Vodafone weighted average cost
Telstra Inventory: weighted average cost
Directories: FIFO
Verizon not clearly mentioned, states either of weighted average cost or FIFO
Idea weighted average cost
2.4.2. Are these policies consistent in all the recent years?
Their policies are consistent and there has been no change mentioned in the financial report.
2.4.3. Are these policies consistent with the way company carries out its business?
Majority of the companies using mainly weighted average cost or FIFO at times, as the means of
inventory evaluation is consistent with the accounting policies of the respective countries and the
way they perform their business.
2.4.4. Do these policies make the reported numbers more conservative or less conservative?
All the four companies use weighted average as the means of evaluation of majority of its
inventories is neither more or less conservative means of reporting. Only, Telstra’s use of FIFO in
creation of directories can be stated as a more conservative method of reporting.
2.4.5. Has anyone of the companies changed its policy in the recent years? Has it provided any
justification for the same?
None of the companies have changed any policy in any recent year.
11. 2.5. Deferred Tax:
2.5.1. Identify the drivers of differed tax assets and liabilities of the four countries?
Company Deferred Tax Assets Deferred Tax Liability
Vodafone Tax losses Accelerated tax depreciation
Deferred tax on overseas earnings
Other short-term temporary differences
Telstra Provision for employee entitlements Property, plant and equipment
Revenue received in advance Intangible assets
Provision for workers' compensation Borrowings and derivative financial
Allowance for doubtful debts instruments
Defined benefit liability/asset
Trade and other payables
Verizon Employee benefits Former MCI intercompany accounts
Tax loss and credit carry forwards receivable basis difference
Uncollectible accounts receivable Depreciation
Valuation allowances Leasing activity
Wireless joint venture including wireless
licenses
Idea Provision for Doubtful Debts Depreciation & Amortisation
Expenses allowable on payment basis
Brought Forward Losses
2.5.2. Has company estimated to which extent the deferred tax asset is recoverable?
None of the companies shows any estimates or calculations on the recovery of the deferred tax
assets.
2.5.3. Which company’s deferred tax footnote is more informative and comprehensive?
Whereas all companies give a fairly good idea about deferred taxes, it is only Vodafone that has the
most non-comprehensive explanation for deferred taxes. Out of the others, it is M/s Telstra yet
again that most comprehensively indicates the various components encapsulating the deferred
taxes.
b) Assessing the Fundamentals:
1. Vertical common size statement analysis over latest two years:
Vodafone:
Balance Sheet
2011 2010
(£m) (£m)
Cash and Cash Equiv 6,252 4,423
Account receivable 9,259 8,784
Inventories 537 433
Other current Assets 955 579
Total Current Assets 17,003 14219
12. Net Property, Plant, Equipment 20,181 20,642
Other Long Term Assets 1,34,217 142766
Total Assets 1,51,220 1,56,985
Total Current Liabilities 27,075 28,616
Long Term Debt 28,375 28,632
Other Long Term Liabilities 8,209 8,927
Preferred Share N/A N/A
Total Equity Capital 87,561 90,810
Total Liability and Equity 1,51,220 1,56,985
Income Statement
2011 2010
(£m) (£m)
Net Revenue 45,884 44,472
Less: Cost of Sales (40,288) (34,992)
Other income and (Expenses) 4331 706
interest expense (429) (1512)
Earnings Before Income Tax 9,498 8674
Less: Income Taxes (1,628) (56)
Adjustments NA NA
Net Profit 7,870 8,618
Telstra:
Balance Sheet of Telstra
2011 2010
($m) ($m)
Current Assets
Cash and Cash Equiv 2630 1936
Account receivable
Inventories
Other current Assets 4823 5249
Total Current Assets 7453 7185
Net Property, Plant, Equipment 21790 22894
Other Long Term Assets 8670 9203
Total Assets 37913 39282
Total Current Liabilities 8538 8682
Long Term Debt 12178 12370
Other Long Term Liabilities 4905 5222
Preferred Share 12074 12696
Total Equity Capital 12292 13008
Total Liability and Equity 37913 39282
13. Income Statement
2011 2010
($m) ($m)
Net Revenue 25304 25029
Less: Cost of Sales
Other Expenses 5047 5117
Interest Expense
Total Expense 15154 14184
Earnings Before Income Tax 4557 5538
Less: Income Taxes 1307 1598
Adjustments N/A N/A
Net Profit 3250 3940
Verizon:
Balance Sheet
2011 2010
($m) ($m)
Cash, Cash Equiv, Market sec 13954 7213
Accounts Receivables 11776 11781
Inventories 940 1131
Other Current Asset 4269 2223
Total Current Asset 30939 22348
Net Property, Plant and Equipment 88434 87711
Other Long-term Asset 111088 109946
TOTAL ASSETS 230461 220005
Total Current Liabilities 30761 30597
Long Tern Debt 50303 45252
Other Long Term Liability 63489 57244
Preferred Share N/A N/A
Total Equity Capital 85908 86912
Total Liability and Equity 230461 220005
Income Statement
2011 2010
($m) ($m)
Net Sales 110875 106565
Less: Cost of Sales (97995) (91920)
Other Income and (Expenses) 430 562
Interest Expenses (2827) (2523)
Earnings before Tax 10483 12684
Less: Income Tax (285) (2467)
Net Earnings after Tax 10198 10217
14. Idea:
Balance Sheet
2012 2011
(Rs mn) (Rs mn)
Current Assets
Cash and Cash Equiv 1341 4515
Account receivable 8075 5347
Inventories 529 522
Other current Assets 17.68 8.08
Total Current Assets 23883 29470
Total Fixed Assets 285957 256810
Total Assets 309840 286280
Total Current Liabilities 82937 80807
Long Term Debt 86121 75857
Other Long Term Liabilities 11677 7065
Total Liabilities 180494 162973
Preferred Share N/A N/A
Total Equity Capital 129345 123307
Total Liability and Equity 309840 286280
Income Statement
2012 2011
(Rs mn) (Rs mn)
Income
Net Revenue 193223 153889
Less: Cost of Sales 171591 147565
Other Expenses 4132 3837
Interest Expense 9078 2487
Earnings Before Income Tax 8422 9063
Less: Income Taxes 2657 618
Adjustments N/A N/A
Net Profit 5765 8445
15. 1.2 Ratio Analysis:
Vodafone Telstra Verizon Idea
2011 2010 2011 2010 2011 2010 2012 2011
Liquidity, Efficiency
and Solvency Ratio:
Current Ratio 0.6279 0.4968 0.8729 0.8275 1.0058 0.7303 0.2879 0.3646
Quick Ratio 0.5728 0.4615 0.3080 0.2230 0.4536 0.2357 0.1809 0.2230
Avg. Collection 72 23 NA NA 39 40 15 13
Period
Days Inventory 6 5 NA NA 4 4 1.1 1.3
Days Payable 9.6 10 48 65 114 122 174 202
Debt-Equity ratio 7.9549 3.4447 0.9907 0.9509 1.3246 1.1793 0.7542 0.6664
Profitability Ratio:
GPM 0.3284 0.3380 0.1801 0.2213 0.1162 0.1374 0.2224 0.2043
NPM 0.1715 0.1938 0.1284 0.1574 0.0945 0.119 0.0438 0.0592
Return on common 0.0885 0.0949 0.2569 0.3029 0.1213 0.1468 0.068 0.0737
equity(ROE)
DuPont Analysis 0.172* 0.194* 0.1284 0.1574 0.0945* 0.119* 0.0438 0.0592
0.298* 0.283* *0.655 *0.637 0.4811* 0.484* *0.624 *0.536
1.728 1.729 *3.051 *3.02 2.6826 2.5313 *2.395 *2.322
Telstra and Vodafone have better liquidity, with Vodafone displaying better true liquidity with higher
quick ratio.
Idea shows best efficiency both for collection and payable.
Vodafone has highest debt-equity ratio and Idea has lowest.
Telstra and Vodafone show the highest true profitability with Telstra capturing the highest returns
on true profitability.
16. 1.3 Cash Flow Statement Analysis:
Cash Flow Statement of Verizon($ mn)
Years 2011 2010 2009
Operating Activities 29780 33363 31390
Investing Activities -17250 -15054 -23156
Financing Activities -5836 -13650 -16007
Increase (Decrease) In Cash and
Cash Equivalents 6694 4659 -7773
Cash Flow Statement of Vodafone( Pounds mn)
Years 2011 2010 2009
Operating Activities 12755 11995 13064
Investing Activities 3843 -1882 -7437
Financing Activities -15369 -8259 -5853
Increase (Decrease) In Cash and
Cash Equivalents 1229 1854 -226
Cash Flow Statement of Telstra($ mn)
Years 2011 2010
Operating Activities 8018 9691
Investing Activities -2541 -3466
Financing Activities -4873 -5481
Increase (Decrease) In Cash and
Cash Equivalents 604 744
Cash Flow Statement of IDEA(Rs mn)
Years 2012 2011
Operating Activities 30550.11 45230.33
Investing Activities -43663.5 -78268.04
Financing Activities 577.5 33148.31
Increase (Decrease) In Cash and
Cash Equivalents -12535.8 110.6
Positive net cash flow from any activities means a business generated more cash than it spent on
that activities and the Negative net cash flow means the business spent more than it generated on
those specific activities.
Cash Flow from Operating Activities
A healthy business should generate positive net cash flow from operating activities and should grow
the amount over time.
All the four companies are having positive net cash flow from operating and they are being
consistent except IDEA where there is comparatively higher difference between the cash flows from
operating activities from previous years which is not a very healthy sign.
17. Cash Flow from Investment Activity
The investment activities section shows the cash flows from buying and selling long-term assets,
such as equipment and property. A stable or growing business typically has negative net cash flow
from investment activities, which occurs when it buys more assets than it sells. A growing business
routinely invests in new assets to expand its capacity, replace old equipment and to keep up with
new technology.
Apart from Vodafone all the other companies have invested well in buying more valuable assets.
Verizon has comparatively has increased their investments from last year. This is a very positive sign
as they consistent in their investment.
Cash Flow from Financing Activity
The cash flow from the financing activities section shows cash flows from issuing and paying off
outside financing, such as stock and debt, and from paying dividends. A healthy business may
occasionally show positive net cash flow from financing activities as it raises money from investors
and creditors to grow its business, but a healthy business should more often show negative net cash
flow from financing activities. A negative amount suggests the business is using its cash flow from
operating activities to pay dividends and pay off its outside financing.
Except IDEA all the other companies are paying dividends to their shareholders apart from paying off
its borrowings.
a) Are you satisfied with the quality and quantum of financial disclosure levels of four companies?
Which one of them has better quality and quantum of financial disclosure than other three
companies?
Overall all the companies have provided good comprehensive annual report, yet comparing among
them we find Telstra has better the quality and quantum of financial disclosure which is very clear
from the above comparisons, adhering to majority of the accounting principles.
b) Which one of them has better fundamentals than other three companies?
Verizon is a company with highest growth rate; it has highest cash inflow and consistent growth.
Vodafone and Telstra had a stable fiscal year with moderately positive cash flow. Finally, Idea had a
bad fiscal year with overall losses and negative growth. So, in our opinion Verizon has the best
fundamentals compared to others.