Single Company Accounts Sandown December 2009. Revenue380000 Cost of sales (246800) Distribution (17400) Administration(50500) Loan Interest(1000) Inv.

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Presentation transcript:

Single Company Accounts Sandown December 2009

Revenue Cost of sales (246800) Distribution (17400) Administration(50500) Loan Interest(1000) Inv Income1300 Taxation(2100) Profit & Loss

Adjustments Property Inv Property26500 Brand Plant and Equipment Inventory38000 Receivables44500 Bank8000 Financial Position- Assets

Payables42900 CY Tax Deferred Tax5400 Equity50000 Option2000 Retained Earnings % Loan Note18440 Financial Position- Liabilities

Sales Revenue  (1.2m x 3)/0.6= 6000  Defer 2 years = 4000  Dr Revenue Cr Short term liabilities 2000 Cr Long term liabilities 2000

Loan Note  Convertible debt with equity and debt element  ‘Correct’ annual interest is therefore 8% x = 1475  = 475  Dr Finance 475 Cr Loan 475

Brand  Carrying value at 1/10/ =  Therefore amortisation $3000pa  Amortisation 1/10/08 – 31/3/09 = $1500  Carry value = $19500  Impairment $4500  Carrying value $15000  New life = 3 years  Amortisation [15000/3]x 6/12= $2500

Revenue380000(4000) Cost of sales (246800)(1000) (1500) (4500) (2500) (9000) (265300) Distribution (17400) Administration(50500)12000(38500) Loan Interest(1000)(475)(1475) Inv Income Taxation(2100)(16200) 1500(16800) Profit & Loss

Adjustments Property (1000)54000 Inv Property Brand (4500) (1500) (2500) Plant and Equipment (9000)13500 Inventory38000 Receivables44500 Bank8000 Total Financial Position- Assets

Payables CY Tax16200 Deferred Tax5400(1500)3900 Equity50000 Option2000 Retained Earnings 33260(12000) % Loan Note Financial Position- Liabilities

Diluted EPS  Diluted EPS shows shareholders what the EPS will be if all convertible instruments are converted  In an extreme situation if a company has 1 ordinary share and a bond which converts to 2 ordinary shares the company owner will lose control on conversion. DEPS highlights the effect of the dilution  Using note 3, for calculation purposes- The diluted EPS will add the after tax interest to the profit (as this will not be paid after conversion)  The number of shares received on full conversion will be added to the number of shares  The DEPS therefore assumes full conversion all year