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Реферат Accounting and Finance in AS Diena

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Текст реферата Accounting and Finance in AS Diena

Table of contents
Introduction 2
Methodology 2
Company background 3
Accounting system 3
Annual reports 4
Analyses used in Annual Report 5
Key ratios 6
Conclusion 8
Reference list 9
“Accounting is the language of business”…Indeed, like
no man without ability to express his thoughts clearly and
understandably can achieve very much in life, no firm can succeed
without a good accounting system. Accounting is a necessary tool which
not only provides information to the owners about how its money is
working, and to the state about how big the taxes are to be fetched,
but, the most important, enables the company to control, to plan and
to trace all the actions, processes and projects. The purpose of this
report is to find out how the accounting is done in a successful
company, and how the principles and methods used there differ from the
traditional accounting theory. In addition, the analysis of the
company’ s performance will be worked out using the standard
The decision to choose AS Diena for the report has been based on
several criteria: it is one of the 100 largest companies in Latvia, it
has a leading position in its branch of industry, and it is a good
example of young and fastdeveloping Latvian business.
The analyses and findings presented in the paper are based on the
information received from the interview with the chief accountant of
AS Diena Inese Janikovska and from the Annual Report 1997 of the
company. The Report mirrors the financial data of AS Diena and its
subsidiaries: publishing house Diena Bonnier SIA, advertising agency
METRO, Bauskas Dzive SIA, agency Agro Apgads SIA, Kursas laiks SIA,
Dzirkstele SIA, Zemgales Zinas SIA. The information about subsidiaries
is included in Annual Report in limits of financial year starting from
the date of acquisition.
Furthermore, the theoretical side was strengthened with the knowledge
gained from the lectures by Elvi Sederlin and Gunnar Lindholm, and
from the course textbooks “Business Accounting” and
“The Profitability, Financing, and the Growth of the Firm”.
To make the key ratio analysis sensible, a similar size enterprise
operating in the same branch of industry was chosen for comparison.
For this purpose, the figures from the final accounts of AS Preses
Nams were taken from the Lursoft database and used in the analysis.
Company background
The Latvian-Swedish jointstock company AS Diena was founded in 1992.
In 1996 it was transformed into stock corporation. In fact, it is a
group of companies with parent company and subsidiaries. The share
capital of the company consists of 6000 fully paid ordinary shares,
moreover, each share has a nominal value of LVL 10 and its owner
possesses one voting right. The shares of AS Diena do not participate
in stock exchange, and no deals among the shareholders are allowed.
The most important shareholder is a Swedish company “Expressen