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Essay / Research Paper Abstract
This 10 page paper is written in two parts. The first part considers the performance of Qantas between 2001 and 2005 looking at profitability, efficiency and liquidity. The second part of the paper considers a takeover bid and looks at the way the price for the shares may have been determined. The bibliography cites 4 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEqantas1.rtf
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Unformatted sample text from the term paper:
the general trends over the last five years. The efficiency of the company appears to be increasing. We can look at efficiency
with measures such as the return on assets and the return on equity. The return on assets is a ratio that shows the level of profit that is created
as a percentage of the assets; asset turnover may be used as an alterative. Return on assets is the profit for the financial years expressed in terms of a percentage
against the assets of a company. There are two acceptable ways of calculating this ratio, either as the net income divided by the average assets for that period, alternatively as
the net profit margin multiplied by the asset turnover. An increase in this figure may indicate a better return, but it may
also be the result of changes in the underlying figures, such as a decrease in the assets held with divestment creating a temporary increase in return on assets. Likewise, investments
in assets may give rise to an apparent drop in this figure due to an increase in the asset base prior to the creation of profits. Thus has dipped and
then increased with 2001 having a return of 3.33%, 2002 of 3.04%, 2003 of 2.05%, 2004 of 3.9% and then 2005 of 4.39%.
The return on equity also shows a similar pattern. The return on equity is a ratio that shows the net profit as a percentage of the shareholders funds. The calculation
for this is the net profit before interest and tax divided by the shareholders funds (also known as the equity). This is often a ratio that is of great importance
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