Myob Assignment Essay

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EXECUTIVE SUMMARY Gone Fishing Pty Ltd is a small business which buys and sells fishing equipment. The report presents information about the financial performance of the business from 1 July 2010 to 31 January 2011. The report also provides analysis of the company’s profitability and financial position. As can be inferred from the financial statements, specifically Profit & Loss Statement for the seven-month period and Balance Sheet as of 31 January 2011, the main concern for the management is that the company is barely making profit. It only earned a net profit of $441.38 which only accounts for 0.20% of the total income to date. The primary reason for this is that the total revenue generated is not large enough to cover the …show more content…
This can be explained by the fact that there is an unequal increase in dollar sales and the corresponding cost to generate the said sales. On the other hand, there is an improvement on the ratio of total expenses to revenues because of higher total revenues collected. Further, the profit margin has improved due to higher dollar sales and lower operating expenses. Consequently, return on total assets became better. Gone Fishing Pty Ltd Financial Performance Report 4

Liquidity Ratios The following table is prepared to facilitate calculation of liquidity ratios presented in Table 4.

Dec-10
1 2

Jan-11

Increase (Decrease)

% Change

Current assets 33,011.00 50,621.52 17,610.52 53.35% Current liabilities 20,670.00 27,048.14 6,378.14 30.86% 3 Cash 11,053.00 13,358.55 2,305.55 20.86% 4 Receivables 13,656.00 28,815.00 15,159.00 111.01% 5 Net sales revenue 12,420.00 32,545.00 20,125.00 162.04% 6 Average receivables 9,595.50 21,235.50 11,640.00 121.31% 7 Cost of sales 6,798.00 18,164.03 11,366.03 167.20% 8 Average inventory 5,601.00 5,982.49 381.49 6.81% Table 3 Comparison of data from P&L Statements and Balance Sheets

The liquidity ratios for the months of December and January are shown below:

Dec-10
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