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International Accounting and Finance Issues Assignment

   

Added on  2021-04-16

19 Pages4459 Words22 Views
Running head: INTERNATIONAL ACCOUNTING AND FINANCE ISSUESInternational Accounting and Finance IssuesName of the University:Name of the Student:Author’s Note:Course ID:

1INTERNATIONAL ACCOUNTING AND FINANCE ISSUESExecutive SummaryThe report is deemed to provide with an opportunity to develop written communication skills along with working with global finance and accounting issues. From the evaluationof ratios, it has been found that Petrochina is struggling in terms of profitability, liquidity and working capital due to falling demand in the market and increasing short-term dues and obligations. However, it has effective solvency position in the market, since it has placed additional emphasis on raising funds through issuance of equity shares, instead of relying on debt financing. This is the reason for which several unconventional oil and gas organisations along with Petrochina have dealt with constant bankruptcy in foreign lands.

2INTERNATIONAL ACCOUNTING AND FINANCE ISSUESTable of ContentsIntroduction:.......................................................................................................................3Background:.......................................................................................................................3Financial Statement Analysis:...........................................................................................3Independent Audit and Assurance:...................................................................................8Impact on Financial Crisis on Petrochina Globally:.........................................................10Conclusion:......................................................................................................................12References:......................................................................................................................14Appendices:.....................................................................................................................17

3INTERNATIONAL ACCOUNTING AND FINANCE ISSUESIntroduction:The report is deemed to provide with an opportunity to develop writtencommunication skills along with working with global finance and accounting issues.Petrochina has established its business as a joint stock organization along with lessliability within the Company law of the People’s Republic of China as an aspect ofrestructuring “China National Petroleum Corporation” (Unda, 2015). The objective of thepaper is to evaluate the financial situation of Petrochina Company for the past twoyears. Moreover, the report will also evaluate the independent audit of the organizationsis a vital aspect of maintaining assurance and confidence. Moreover, it will also explainthe extent to which the financial crisis of 2007/08 impacts the company’s businessinternationally. Additionally, it will also explain the lessons regarding the crisis forinternational organizations like Petrochina. Background:Petrochina Company is selected for the reason that it is positioned as therenowned oil and gas manufacturer and seller attaining a major position within the oiland gas sector. The company is positioned as among the oil companies all through theworld. The objective of the paper is to evaluate the financial situation of PetrochinaCompany for the past two years. Ratio analysis will be carried out to understand thefinancial position of the organization that will include ratios such as liquidity, solvency,working capital, profitability and performance. Financial Statement Analysis:Profitability analysis:The profitability analysis of Petrochina has been carried out with the help of thefollowing ratios, which are presented in the form of a table as follows:Profitability Ratios:-ParticularsDetails20152016SalesA 17,25,428 16,16,903

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