Question 2; a) What financial documentation is necessary to verify:; i. income earned, and; ii. expenditure?; b) What calculations are typically included in a financial analysis?;

This assessment consists of financial questions to be answered adequately to demonstrate your knowledge and understanding of the concept of interpret financial information in order to be deemed competent in this unit.; ; There are a total of two (2) parts to complete, as follows:; Part A – consists of questions requiring short responses.; Part B – is a Case Study comprising two (2) tasks. Each task consists of questions requiring short responses.; At the end of each answer, allow adequate space (at least 6-8 lines), for the teacher’s comments and feedback.; You will be assessed on how well you interpret each task request and how you structure each according to layout, sequencing and by providing all relevant and applicable details for each task.; This is an ungraded unit. Your result is based on the evidence you provide to meet the criteria for competence as specified in the unit of competency and grading criteria. You will receive a result of Achieved Competency (AC) or Not yet Competent (NC).; Information on how to submit your assignment is located on the OTEN website under your OLS log-in.; ; Question 1; Define the following financial terms and explain how they would help you effectively monitor your travel agency’s business performance at a day-to-day operational level.; a) Staff Sales Report; b) Product Sales Report; c) Wages Report; d) Income Statement; e) Bank Statements; f) Balance Sheet; Question 2; a) What financial documentation is necessary to verify:; i. income earned, and; ii. expenditure?; b) What calculations are typically included in a financial analysis?; Question 3; a) Explain the purpose of the Statement of Financial Performance (Profit and Loss).; b) Identify and explain the key information contained within the Statement of Financial Performance?; Question 4; a) Explain the purpose of the Statement of Financial Position (Balance Sheet).; b) Identify and explain the key information contained within the Statement of Financial Position?; Question 5; Define the meaning of financial ratios. Explain how these ratios can assist in the financial management of a business.; ; The figures for this task were obtained from the Qantas Australia 2010 financial reports. (File pathway: www.qantas.com.au > About Qantas > Investors > Annual report > 2010).; Question 1; The Consolidated Statement of Comprehensive Income report (Annual report 2010, page 48) for Qantas states that for the year ending 2010, Qantas received:; Explain what these results mean.; Question 2; a) The Consolidated Income Statement report (Annual report 2010, page 47) for Qantas states that for the year ending 2010, Qantas:; Explain what these results mean.; b) The Consolidated Income Statement report (Annual report 2010, page 47) for Qantas states that for the year ending 2010, Qantas:; Explain what these results mean.; The figures for this task were obtained from the Qantas Australia 2010 and the Virgin Blue 2010 financial reports. (File pathway: www.qantas.com.au > About Qantas > Investors > Annual report > 2010 and www.virginaustralia.com > About Us > Company Overview > Investor Information > Annual reports > 2010).; Question 1; The Net Profit margin for Virgin Blue and Qantas (shown on their respective Income Statements) for the year ending 2010 was:; Net Profit margin; Net Profit margin; The above findings for Virgin Blue shows that their profit was less than 1% in 2010, but this was better than the 6% loss in 2009.; Explain what the above figures for Qantas show.; Question 2; The 2010 Expense ratios (Expense/Sales x 100 = %) for Virgin Blue and Qantas (shown on their respective Income Statements) are:; 2010 Expenses ratios; 2010 Expenses ratios; 2010 Expenses ratios; Explain these above findings.; ; Question 3; The Return on Owners Equity ratios (Net Profit/Equity x 100 = %) for Virgin Blue and Qantas (shown on their respective Income Statements) were:; Return on Owners Equity ratios (ROI); Return on Owners Equity ratios (ROI); Return on Owners Equity ratios (ROI); Explain these above findings.; Question 4; Explain what profitability ratios are and what they indicate about a business.; Question 5; Explain what the ‘overall’ above findings in questions 1, 2, and 3 indicate about the financial performance of Virgin Blue in comparison to Qantas.; Question 6; Identify and explain what internal and external factors could affect these two airline’s performance. As they are similar businesses, both airlines are affected by similar factors.;

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