Financial analysis case study Essay Example | Topics and Well Written Essays - 1250 words

Financial analysis case study - Essay Example At the same time there is a belief that chairman statement serves no purpose from the point of view of shareholders. It is a sort of ritual to inaugurate the reporting and review process in the annual report. There is no legal requirement for a chairman statement to be a part of an annual report. It is more of a customary part of the annual report. ‘The chairman report is largely qualitative in character. The other documents report what happens, this one offers an explanation of the company’s results. The accounts and other statutory reports present historic information on how the company fared in the previous accounting period, while the chairman will comment on future prospectus and plans.’ (Christopher Murphy, page 177)1 Directors Report is a central section of prime importance of an Annual report. It is prepared annually and in case of parent company directors’ report will be for the entire group called ‘group directors’ report. ‘Directors’ report deals with significant development in the company’s business operations during the reporting period. This is effectively a review of business and an opportunity for the board to comment on the financial results of the company in terms of its sales and profits, and to explain material matters such as exceptional items.’(Thomas A Lee, page 170)2 In accordance with the provisions of sections 415 to 419 of Chapter 5 of Part 15 of the Companies Act 2006, a directors’ report must contain the following information: i) trends and factors affecting company’s future development, performance and position of business, information about environmental matters, company’s employees and social and community issues, and information about important contractual and other business arrangements. ‘In addition to the above legal requirements, a directors’ report should also include information required by the stock exchange. As an option some companies include additional

Employment Law Essay Example | Topics and Well Written Essays - 500 words - 10

Employment Law - Essay Example He complains of unfair elimination of his unused vacation. There was no proper written notice of termination of Tomas employment. The company provided a two-week termination payment in lieu of notice. Tomas promotion to a data entry manager made him work for about 55 hours in a week. This made him eligible for overtime because he worked for more than 44 hours in a week. This is because he was promoted a month after his overtime work that is within three months as stated in the Employment Standards Act of 2000. In Zsoldos v. MMMC Inc. Architects, 2005 CanLII, it the plaintiff signed an agreement with the defendant that was legally binding to both parties. Tomas needs compensation for the time off not taken, in addition to the hours he worked during public holidays. He should get time off for the holidays he worked in addition to the three weeks off as stated in the Employment Standards Act. It was not appropriate to eliminate the unused vacation because it could only be legally binding if there was a proper agreement signed in writing and not an oral agreement. This should be effective within seven days of employment termination. The withdrawal of the health benefits was inappropriate because Tomas was still an employee before the major clients seized to do business with Crowne Company. The company should provide the health benefits for the period stated in the contract agreement with the employee. In case of termination of the health benefits, there must be a written notice to the employee. Tomas termination of employment was inappropriate, as his employment with Crown Company lasted for more than three months. In addition, the employer did not give him a proper written notice informing him of the termination of his employment or a pay for the termination. The termination pay in lieu of notice was inappropriate. This is because in case of employment termination the pay in lieu of notice is effective within seven