a)Discuss the factors that must be taken into account when providing a context for analysing the financial performance of a business. (15 marks) (1 page)
b)The following are extracts from the 2019 published financial statements of City-Hotels Group Plc., an international hotel and leisure company.
City-Hotel Group Plc.
Consolidated Income Statement for year ended 31 December 2019
Cost of sales
Selling and administrative expenses
Depreciation and amortisation
Profit before tax
Profit for the year
City-Hotels Group Plc.
Consolidated Balance Sheet at 31 December 2019
Property, plant & equipment (net book value)
Cash and Bank
Issued share capital (note 1)
Loans and borrowings
Short term loans and borrowings
Corporation tax liabilities
Total equity and liabilities
Additional Information, note 1:
Nominal (par) value per share in cent
Market price / share, year-end, cents
(a)Calculate, for each year, 18 ratios under the headings of profitability, Use of assets, capital structure, liquidity and investment (60 marks)
(b) Based on (a), comment on the company s performance and position over the two years
(c)Apply the Taffler & Tisshaw model of business failure prediction and calculate a z-score for the business for both 2019 and 2018 (20 marks)
(d)Comment on your answers to (c) (10 marks)
(e)Accounting statements are often accused of presenting a limited picture of a business.
In the context of this statement discuss the limitations of ratio analysis. (25 marks).
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