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Essay / Research Paper Abstract
This 4 page paper is ratio analysis of the Disney between the years 2006 – 2008, looking at the revenues, profitability, liquidity and efficiency. The bibliography cites 4 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEdisney08.rtf
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Unformatted sample text from the term paper:
2009. To Use This Report Correctly, The Walt Disney Company is a well diversified firm, with interests in the media as
well as theme parks, hotels and retailing. Over the last three years the firm has grown; in 2006 there were revenues of $34,2851 this was a 7.3% increase in 2005,
this increased to $35,510 in 2007 which was a 3.6% increase in the pervious year and in 2008 there was a 6.6% increase on 2007 with revenues of $37,843.
When looking at the performance of the firm there are several ratios that can be considered. For a firm to survive, no matter how high the sales there need to
be liquidity, for this the current ratio can be considered. The current ratio is calculated by taking the current assets and dividing them by the current debts. The result is
a ratio that indicates how many times the current assets will cover the current liabilities. It is often cited that this ratio should be at least 1.5 to
allow for some current assets that may not be liquidated immediately or for those such as debtors that may not be realised. However, for many industries today, such as the
high tech industries or the service sector, where there are few current assets, this may be seen as requiring a lower ratio (Elliott and Elliott, 2007). The current ratio in
2006 was 0.94, in 2007 it was 0.99 and in 2008 it is 1.01, this reflects the slight increase in the proportional level of current assets, and indicates there are
no liquidity problems, in this climate these figures may be seen as generally stable and healthy. The average collections period can also be considered, as the debtors are included
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